Spain’s ‘Golden Visa’ Ends

What It Means for Investors and Alternatives for Moving to Fuerteventura

Introduction

Spain’s ‘Golden Visa’ has been a popular route for non-EU citizens looking to gain residency through real estate investment. However, as of 3rd April 2025, this program will officially end. This decision marks a significant shift in Spain’s approach to foreign investment, particularly in the property sector. In this article, we will explore what the Golden Visa was, why it is ending, and what alternative visa options exist for those who still wish to move to Spain, particularly to the beautiful island of Fuerteventura.

What Was the ‘Golden Visa’?

Introduced in 2013, Spain’s Golden Visa program allowed non-EU investors to obtain Spanish residency by making a minimum real estate investment of €500,000. The visa offered several benefits, including:

• The right to reside in Spain (though without a mandatory minimum stay requirement).
• The option to renew and eventually apply for permanent residency.
• The ability to include family members in the residency application.

This scheme attracted investors worldwide, not just from the UK but also from China, Russia, and the Middle East, many of whom sought access to the European market and a Mediterranean lifestyle.

Why Is It Ending?

The Spanish government has decided to discontinue the Golden Visa due to concerns over housing affordability and real estate speculation. Officials argue that the program contributed to rising property prices in major cities like Madrid and Barcelona, making it harder for locals to purchase homes. This move aligns with broader European trends, as countries like Portugal and Ireland have also tightened or scrapped similar investor visa schemes in recent years.

Additionally, the government aims to prioritise residency opportunities for those who plan to live and work in Spain rather than those who use property investments primarily as a means to secure a second residency.

Impact on Foreign Investors and the Property Market

For international investors, the end of the Golden Visa closes an attractive pathway to Spanish residency. This could lead to a short-term slowdown in high-end property purchases, particularly in regions where foreign investment has been substantial.

In Fuerteventura and the Canary Islands, where the property market has also benefited from international buyers, the impact may be less severe than in Spain’s major metropolitan areas. However, those who were planning to use the Golden Visa to settle in Fuerteventura will now need to consider alternative options.

Alternative Visa Options for Moving to Spain

Although the Golden Visa is ending, several other visa options remain available for those wishing to move to Spain:

• Non-Lucrative Visa: Ideal for retirees and those with sufficient financial means. This visa requires proof of financial self-sufficiency and does not permit employment in Spain.
• Digital Nomad Visa: Introduced recently, this visa is perfect for remote workers earning income from outside Spain. It allows residency while working for non-Spanish companies.
• Entrepreneur Visa: Designed for individuals who wish to start and run a business in Spain. Applicants must present a viable business plan that benefits the Spanish economy.
• Student Visa: A pathway for younger individuals or those looking to study in Spain, which can sometimes lead to long-term residency opportunities.

Conclusion

The end of Spain’s Golden Visa marks a significant shift in immigration and investment policy. While it may pose challenges for those seeking residency through real estate investment, Spain remains an attractive destination with various alternative visa options. For those looking to settle in Fuerteventura, careful planning and consultation with an immigration expert will be crucial in finding the best pathway to residency.

Have questions about moving to Fuerteventura? Feel free to reach out or share your thoughts in the comments below!