This is a comparison between a route that has closed and one that is still open. Spain ended its golden visa in 2025. Italy still runs its Investor Visa. If you are weighing the two, the practical choice today is Italy or another live route.
Information, not advice. Figures are indicative and current as of June 2026. Always confirm the present rules with the official program authority and a licensed professional before you act.
Spain golden visa allowed residence by investment, most visibly through property, from 2013 until it closed to new applications on 3 April 2025. New applications are no longer accepted, although holders who applied before that date are handled under the old rules.
Italy Investor Visa is open. It grants residence to investors who place qualifying capital into Italian companies, startups, philanthropy or government bonds, overseen by the Investor Visa for Italy Committee.
Spain figures are now historical, since no new applications are accepted, so we do not restate them as if they were live.
Italy publishes tiered options: from 250,000 euro into an innovative startup, 500,000 euro into an Italian limited company, 1,000,000 euro into a philanthropic project, or 2,000,000 euro into government bonds. Confirm the current figures and fees with the official committee.
Spain timelines no longer apply to new applicants because the route is closed.
Italy issues a pre approval, known as the nulla osta, before the visa stage; confirm current processing times with the official committee, since they can change.
Both are residence routes rather than passports. Italian residence can lead to citizenship only later, through naturalisation with its own long residence and other conditions.
Residents can travel within the Schengen area under the usual short stay rules. Check current rules before travel.
Spain golden visa suits no new applicant, because it is closed. We include it only so the position is clear.
Italy Investor Visa suits an investor who wants a live EU residence route with a range of qualifying options and a defined committee process.
| Item | Spain (legacy golden visa) | Italy Investor Visa |
|---|---|---|
| Status | Closed to new applications since 3 April 2025 | Open |
| Outcome | Was residence by investment | Residence by investment |
| Headline investment | Historical; no new applications | From 250,000 euro startup, 500,000 euro company, 1,000,000 euro philanthropy, 2,000,000 euro bonds |
| Path to citizenship | Not applicable for new applicants | Later, via naturalisation |
| Official authority | Ministry of Inclusion, Social Security and Migration | Investor Visa for Italy Committee |
Figures are indicative and current as of June 2026. Spain: Ministry of Inclusion, Social Security and Migration. Italy: the Investor Visa for Italy Committee publishes the binding detail. Verify before you act.
No. Spain closed the golden visa to new applications on 3 April 2025 under Organic Law 1/2025. Confirm any transitional treatment with the official authority.
Yes, it remains open. Confirm the current investment options, figures and processing times with the Investor Visa for Italy Committee.
The published tiers are a startup, an Italian company, a philanthropic project or government bonds, each at a different level. Confirm the current figures with the official committee.
Information, not advice. Figures are indicative and current as of June 2026. Always confirm the present rules with the official program authority and a licensed professional before you act.
The rules for this route changed recently. Confirm the current position with current guidance before you act.
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