Since 2013 Spain had granted visas and residence to foreign investors, and one of the routes was buying property for EUR 500,000. This route has been closed since 3 April 2025, but old advertisements about it are still seen. This article is based on the official text of Organic Law 1/2025 and the consolidated text of Law 14/2013 in Spain's Official State Gazette (`BOE`), and on the Spanish Government's (`La Moncloa`) announcement of 2 April 2025, checked on 25 October 2026.
What changed, and from when?
| Topic | What the official text says |
|---|---|
| Amending law | Organic Law 1/2025 of 2 January 2025 on measures for the efficiency of the public justice service |
| Publication | Official State Gazette No 3, 3 January 2025 |
| Relevant provision | Twenty-first final provision: amendment of Law 14/2013 on support for entrepreneurs |
| Change | Articles 63, 64, 65, 66 and 67 are left "without content" |
| Effective date | 3 April 2025; the law entered into force three months after publication |
| Transitional provisions | two new transitional provisions were added to Law 14/2013 |
Articles 63 to 67 made up the whole "Investors" chapter of Law 14/2013: the investor residence visa, how the investment is proven, the effect of the visa, the investor residence permit and its duration. In today's consolidated text all five articles appear as "without content".
The Spanish Government's announcement of 2 April 2025 says the law repeals investor residence visas "completely". The stated reason is the effect of these visas on the right to housing. The announcement describes the measure as similar to steps taken by Ireland and Portugal and in line with the European Commission's 2022 call on investor citizenship schemes.
What were the earlier conditions?
The 2015 wording of Article 63 applied until 3 April 2025. Under it, a "significant capital investment" was one of the following:
| Earlier route | Minimum amount |
|---|---|
| Spanish public debt securities | EUR 2 million |
| Shares in Spanish companies with real business activity | EUR 1 million |
| Investment funds set up in Spain | EUR 1 million |
| Bank deposits in Spanish banks | EUR 1 million |
| Buying property in Spain | EUR 500,000 per applicant |
| A business project of "general interest" | no fixed amount; job creation, socio-economic impact or scientific and technological innovation |
The investor visa lasted one year and, under Article 65, was sufficient to live and work in Spain. Under the last wording of Article 67, the initial residence permit was valid for three years. Renewals were for five years, provided the conditions were still met.
Applications already filed and valid permits
Organic Law 1/2025 added two transitional provisions to Law 14/2013:
| Provision | The official text in plain words |
|---|---|
| First transitional provision | investors or their family members who applied before 3 April 2025 may receive the visa or permit under the rules in force on the date of application |
| Second transitional provision, paragraph 1 | investor visas and permits valid on 3 April 2025 remain valid for the period for which they were issued |
| Second transitional provision, paragraph 2 | renewal applications are processed and decided under the rules in force on the date the initial permit was granted |
The heading of the second transitional provision refers to "investors through the acquisition of real estate", but its text speaks generally of "visas and permits for investors".
Other routes left in the same law
Article 61 of Law 14/2013 in its consolidated text still lists these groups for entry and residence "for reasons of economic interest":
| Group | Relevant article in the consolidated text |
|---|---|
| Investors | Articles 63 to 67; without content from 3 April 2025 |
| Entrepreneurs | Article 69 |
| Highly qualified professionals | Article 71 |
| Researchers and training | Article 72 |
| Intra-company transfers | Article 73 |
| International remote workers | in the list of Article 61 |
So "investors" are still in the list of Article 61, but their specific articles no longer have any content. Each of the other routes has its own conditions, which this article has not examined.
The general conditions of Article 62 still apply to all these groups. They include: being over 18, no criminal record in Spain or in the countries of residence of the last two years, health insurance, sufficient financial resources and payment of the fee.
Two examples
These examples are hypothetical and only apply the official text above.
Example 1: an investor with a valid permit. Suppose someone bought property worth EUR 600,000 in 2023 and their three-year permit ends in 2026.
| Question | Answer under the official text |
|---|---|
| Was their current permit cancelled? | No; it remains valid for the period for which it was issued |
| Which rules apply to renewal? | The rules in force when the initial permit was granted |
| Must the property be kept? | Under Article 67 at that time, renewal depended on the conditions still being met; the Spanish authority decides |
Example 2: two applications on two dates. Two people, each with EUR 500,000 to buy property:
| Person | Date of application | Position under the official text |
|---|---|---|
| First person | 1 April 2025 | may receive the visa or permit under the rules in force on the date of application |
| Second person | 1 May 2025 | Article 63 no longer has any content; the investor route does not exist |
The only difference between the two is whether the application was filed before or after 3 April 2025, not the amount.
Spain alongside other programmes
| Topic | Spain after 3 April 2025 |
|---|---|
| Residence by investment | closed |
| Earlier valid permits | valid until the end of their period; renewal under the rules of the date of grant |
| Citizenship by investment | Spain had no such programme in Law 14/2013 |
If your aim is residence in Europe through investment, ask about each country separately and from that country's official source. The article "Citizenship or residency by investment: the differences" explains the difference between the two routes.
Practical points
- Compare any offer of a "Spanish golden visa through buying property" after 3 April 2025 with the official text; see the signs of a misleading offer in the article "How to avoid scams in citizenship programmes".
- If you hold an investor residence permit, check its expiry date and renewal rule with a licensed lawyer in Spain.
- Buying property in Spain is on its own no longer an investor residence route.
- Learn about criminal record certificates and translations from the articles "What an apostille is and where it is needed" and "Police clearance certificates for a Dominica citizenship application"; each country has its own rules.
Royal Golden does not give legal or immigration advice about Spain. This article is general information, and decisions on any application rest with the Spanish authorities.
Sources
- Spain's Official State Gazette (BOE), Organic Law 1/2025 of 2 January, twenty-first and thirty-eighth final provisions — https://www.boe.es/buscar/doc.php?id=BOE-A-2025-76 (checked on 25 October 2026)
- Spain's Official State Gazette (BOE), consolidated text of Law 14/2013 of 27 September on support for entrepreneurs, Articles 61 to 67 — https://www.boe.es/buscar/act.php?id=BOE-A-2013-10074 (checked on 25 October 2026)
- Spanish Government (La Moncloa), announcement on the end of the "Golden Visa" from 3 April (2 April 2025) — https://www.lamoncloa.gob.es/serviciosdeprensa/notasprensa/vivienda-agenda-urbana/paginas/2025/020425-fin-golden-visa.aspx (checked on 25 October 2026)