Property Investment Residency Visas: What Still Exists

Several well-known property-linked residency routes have closed. Spain stopped granting golden visas, including the real estate route, from 3 April 2025, and Portugal removed real estate from its golden visa in October 2023. Never buy a new build mainly for a visa without checking current official rules.

The short history

For about a decade, a number of European countries offered residence permits in return for buying property above a threshold. They attracted buyers, and in some places drew criticism for pushing up housing costs. Policy then shifted. According to a notice from the Barcelona city international welcome service, Spain ended the programme from 3 April 2025 after a law adopted earlier that year. Reporting on Portugal’s 2023 reform notes that the property route was removed in October 2023 while the programme continues in other forms. Sources of this kind, such as consultancy sites, can differ on detail, so go to the official government sources for the current position.

Why old information keeps circulating

Marketing pages are rarely updated when rules change. Even catalogues that sell property abroad may carry older wording. For example, Off Plan Properties’ country pages for Spain and Portugal still mention a Golden Visa at €500,000, and its UAE page describes a Golden Visa threshold of AED 2 million. We cannot tell from those pages whether the wording is current, which is exactly why you should verify with the issuing government before relying on any of it.

Key takeaway: if a residency promise is the reason you are buying, confirm it with the immigration authority and an immigration lawyer, in writing, before you pay any deposit.

How to check what is available now

Step	What to do	Why
1	Find the official immigration or interior ministry page	Primary source
2	Note the date on the page	Rules age quickly
3	Ask an immigration lawyer to confirm in writing	Practice may differ from the page
4	Check whether off-plan counts	Some schemes need a finished, registered property
5	Check what you must keep and for how long	Many schemes require ownership for a minimum period
6	Check renewal and path to permanent status	Initial permit may not lead to citizenship

Whether off-plan counts toward a threshold is especially important. Some schemes require completed, registered property, so an unfinished building may not qualify until completion, and delays could affect timing.

What a visa threshold really is

A threshold is a minimum, not a guarantee. Applicants usually must also show a clean record, health cover and funds, and authorities may refuse. Property prices can fall below the threshold after purchase. If the rule changes, previously purchased property may or may not be protected by transition provisions. Ask your lawyer what protection applies and in what circumstances.

Risks of buying for a visa

• Rule change. Programmes can be closed or changed with little notice, as Spain and Portugal showed.
• Overpaying. Properties marketed to visa buyers may be priced at the threshold rather than at market value. Compare with local prices.
• Illiquidity. If you must hold for years and the market is thin, you may not be able to exit.
• Tax residence. Becoming resident can change your tax position at home and abroad. Take advice before you apply.
• Wrong assumptions. A visa to live in one country may not allow work, or travel to others, in the way a seller implies.

Alternatives to property-led residency

Many countries offer other routes: work, retirement, digital nomad or self-employed visas, and investment routes in funds or businesses. They have their own conditions and costs, and none is risk-free. If your aim is residency rather than property, compare the routes themselves, and buy property only if it makes sense on its own merits. The checks in can foreigners buy property abroad apply regardless of visa status.

If you still want to buy

Judge a purchase as a property decision first. Would you buy this unit if no visa existed? Does the rental yield work? Is the developer sound, as judged by our vetting checklist? A visa is a possible bonus, never a foundation for the investment case. You can see what projects are on the market in the Off Plan Properties listings, then ask each seller to put any residency claim in writing, with the legal basis.

Questions for the seller

1. Which law or programme gives the residency right, and is it in force today?
2. Does this unit qualify, and what documentation proves it?
3. Does off-plan count, or must the property be complete?
4. What happens if the programme closes before completion?
5. Will you refund my deposit if the unit does not qualify?

A seller who answers with confidence and documents is worth hearing. A seller who answers with “everyone gets it” is not.

Sources and caveats

Immigration law changes and is not covered by this site’s expertise. This article is general information, not immigration or legal advice. Confirm with official sources and a qualified immigration lawyer.

A practical way to avoid being misled

Keep a file with printed or saved copies of every official page you rely on, including the date you accessed it. Save your lawyer’s written confirmation. If a seller says a rule applies, ask them to put the legal reference in an email. These records are worth little if everything goes right, and a great deal if rules change or a dispute arises.

Also be wary of intermediaries who earn a commission on both the property and the visa application. They are not necessarily dishonest, but they have an incentive to describe the programme optimistically. An immigration lawyer paid a fixed fee for advice has no such incentive. Spend that fee before you commit to a purchase, not after.

Last, remember that policy risk cuts both ways. Governments tighten and sometimes reopen schemes, and conditions such as minimum holding periods and thresholds change. Make your decision on what is in force today and what you can afford if it changes tomorrow. For the Off Plan Properties perspective on what applies in a given market, read its Portugal and UAE pages, and treat their visa statements as claims to verify.