This comparison is unusual because both routes are no longer open to new investor applicants. We publish it so the current position is clear rather than leaving an outdated impression.
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 ran a golden visa from 2013 that gave residence in return for investment, commonly a property purchase. It was repealed for new applicants on 3 April 2025.
Malta ran a citizenship by naturalisation for exceptional services by direct investment. On 29 April 2025 the European Court of Justice ruled the scheme incompatible with European Union law, and Malta amended its citizenship framework later that year. As an investor route, it is no longer open.
Because both routes are closed to new investor applicants, any figure from the past is historical and not something you can act on. We do not restate old minimums as if they were live, since doing so would be misleading.
If you are weighing what to do now, the useful question is not the old price of either route but which open programmes fit your goals. That is where a vetted advisor can help.
There is no current processing timeline for new investor applicants on either route, because neither accepts them. Files lodged in Spain before the cut off are handled under the prior rules, and Malta's position is governed by the court ruling and the revised law.
Both Spain and Malta are European Union members, so their passports carry Union citizenship. The point of this page is that neither currently offers an investment route to reach that passport, so the comparison is about history and current status rather than a live choice.
If your aim was a European Union residence or citizenship through investment, other member states still run residence routes, and the rules continue to change. Rather than chase a closed programme, it is worth getting a current read on which open routes match your situation, budget and timeline.
| Item | Spain (legacy golden visa) | Malta citizenship by investment |
|---|---|---|
| Outcome it offered | Residence by investment | Citizenship by direct investment |
| Current status | Closed to new applicants on 3 April 2025 | Struck down by the EU court on 29 April 2025 |
| Why it ended | Repealed amid housing concerns | Ruled incompatible with EU law |
| Open to new investors | No | No |
| Authority | Spanish authorities | Community Malta Agency |
Figures are indicative and current as of June 2026. Community Malta Agency, Malta; and the Spanish authorities publishes the binding detail. Verify before you act.
No. Spain closed its golden visa to new applicants on 3 April 2025, and the European Court of Justice ruled Malta's citizenship by investment scheme unlawful on 29 April 2025. Neither accepts new investor applications.
Malta amended its citizenship framework in 2025 toward a model based on exceptional contribution rather than direct investment. The detail and eligibility are matters for the Maltese authority, so confirm the current position there.
Spanish files lodged before the cut off are processed under the prior rules and existing holders may renew. Malta's pending matters are governed by the court ruling and the revised law. Confirm your own position with the relevant authority.
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.
This route is reported closed or paused. Do not rely on older figures. Get the current position, and the routes that are still open, before you commit time or money.
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Related programmes and comparisons, each dated and sourced to the official authority.