Spain cancels "golden visas" for property purchases over €500,000
The Spanish government is ending the issuance of residence permits in exchange for large investments in housing — the decision was made to protect the right to affordable housing.
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Starting in April, Spain is enforcing a law that abolishes the issuance of "golden visas" — residence permits previously granted to investors who invested more than €500,000 in real estate, reports the Spanish Ministry of Housing and Urban Agenda.
The initiative came from Housing and Urban Agenda Minister Isabel Rodríguez, who stated that the previous practice undermined citizens' right to affordable housing.
The decision is part of the implementation of Law 1/2025 and aims to ease pressure on the market, especially in regions with housing shortages and high prices.
The reform also affects other types of investments that previously granted residence permits.
Spain joins Ireland and Portugal, which have already abandoned similar schemes. Back in 2022, the European Commission recommended that EU countries halt investor visa programs.
It’s worth recalling that on March 28, 2022, the European Commission called on EU countries to shut down "golden passport" schemes and revoke documents issued to sanctioned Russians and Belarusians, as published on the Commission’s website.
The move was prompted by security concerns amid the war in Ukraine. However, as of 2025, not all countries have complied with the recommendations. Some continue these programs, posing risks to the EU.
The Commission warns: freedom of movement must not be for sale, especially to those linked to aggression and sanction evasion.