The heading says property. The law does not.
Ley Organica 1/2025, de 2 de enero, de medidas en materia de eficiencia del Servicio Publico de Justicia, is a 272-page organic law about court efficiency. Its Disposicion final vigesimoprimera, apartado Uno, does one small and enormous thing: se dejan sin contenido los articulos 63, 64, 65, 66 y 67 of Ley 14/2013. Those five articles were the entire investor chapter, property at 500,000 euros, funds and deposits at 1,000,000, government bonds at 2,000,000, and the business-project route. They emptied together, with effect from 3 April 2025.
That much is uncontroversial and widely reported. What gets mangled, including in some lawyer summaries, is the citation. The closing statute is Ley Organica 1/2025. It is not a Ley 7/2025. No search of BOE on 21 August 2026 turned up a repeal of Articles 63 to 67 attached to that number. If you see Ley 7/2025 cited as the reason your Golden Visa is closed, treat it as an error, not an alternative source.
Two transitional articles, and which one is yours
DF 21 inserted two transitional provisions into Ley 14/2013. Disposicion transitoria primera covers people who had filed before 3 April 2025 but had not yet been granted a visa or authorisation on that date. They may still receive it under the rules in force on the date they filed, filing date, not grant date. The UGE criteria add a delayed-effect gloss: a visa applied for before 3 April 2025 whose effect was postponed to a later date is still processed and granted or refused under the general rules, so a file lodged on 1 April 2025 and granted in May 2025 stays inside the regime, while a file lodged on 4 April 2025 does not.
Disposicion transitoria segunda, the one with the misleading heading, covers renewals. Visas and authorisations valid on 3 April 2025 keep that validity for the period they were issued for, and any renewal application is processed under the rules in force on the date the original authorisation was granted. For almost every current holder, that means Article 67 of Ley 14/2013 as it was rewritten by Ley 28/2022, the version in force immediately before the repeal.
| Your situation | Governing provision | Outcome |
|---|---|---|
| Filed before 3 April 2025, not yet granted | DT primera | Granted under the rules in force on the filing date |
| Card already valid on 3 April 2025 | DT segunda | Keeps validity for its issued term, renews under Article 67 as it stood at grant |
| Filed on or after 4 April 2025 | Neither | Inadmissible under the investor chapter |
What Article 67 actually gives you
Article 67, in the version DT segunda points you back to, sets an initial authorisation of three years. Once that term is up, an investor who wants to keep residing in Spain can apply for renewal in successive five-year periods, siempre y cuando se mantengan las condiciones que generaron el derecho, provided the conditions that generated the right are maintained. There is no cap on the number of five-year renewals written into the article, and no sunset date anywhere in the transitional text. If you change the form of your investment during an authorised period, Article 67.3 requires that you still meet one of the original Article 63 cases, with an express carve-out for changes in value caused by ordinary market fluctuation.
What the June 2025 UGE criteria add
The statute is thin on operational detail, so the practical rulebook is the Ministerio de Inclusion, Seguridad Social y Migraciones criterios de gestion of 10 June 2025, issued by the Direccion General de Gestion Migratoria. We fetched the Ministry-headed copy from infoextranjeria.org on 21 August 2026. We could not find the same PDF hosted on inclusion.gob.es itself on this pass, and we are naming that gap rather than quietly upgrading a hosted scan to a first-party government link.
Four points from that document decide most real renewal questions. First, renewals: se admiten todas si las autorizaciones iniciales reunian todos los requisitos para ser concedidas, all modalities renew if the original grant was valid. Second, family: a spouse or child who already held a family card in force on 3 April 2025 keeps it and renews with the titular, but marriages, births or other situaciones sobrevenidas after that date are inadmisible under the investor chapter and go through the general regime, Real Decreto 1155/2024. Third, the right is personalisimo: it does not pass by inheritance or donation, inter vivos or otherwise, after 3 April 2025. Fourth, conversions run one way: property into another qualifying modality is fine at the statutory minimum, and swaps among funds, bonds and shares are fine, but a move from any of those back into a new property does not qualify for renewal.
| Situation on 21 August 2026 | Result | Basis |
|---|---|---|
| Card valid on 3 Apr 2025, investment unchanged | Renews | DT segunda + Art. 67 + UGE "se admiten todas" |
| Filed before 3 Apr 2025, granted after | Grants, then renews | DT primera + UGE delayed-effect line |
| Filed 4 Apr 2025 or later | Inadmissible | Arts 63 to 67 emptied |
| Family card already in force on 3 Apr 2025 | Renews with titular | UGE "si disponen de residencia en vigor... se mantiene" |
| New spouse or child after 3 Apr 2025 | General regime only | UGE "situaciones sobrevenidas" |
| Heir or donee of the qualifying asset, after 3 Apr 2025 | No card | UGE "personalisimo" |
| Property converted into funds, bonds or shares at the minimum | Renewable | UGE conversions |
| Funds, bonds or shares converted into a new property | Not renewable on that move | UGE conversions |
| Company-to-individual or individual-to-company ownership swap | Not admissible | UGE, legal persons cannot hold a personal authorisation |
| Only an arras or deposit contract, no escritura | Not an investment | UGE "caracter renunciable" |
Expert tip
If a lawyer or a listing quotes Disposicion transitoria segunda's heading to tell you your fund or bond position cannot renew, ask them to keep reading past the title. The operative sentence, and the UGE criteria that gloss it, say otherwise. The heading is a drafting artefact, not a substantive limit.
Common mistake
Treating "renewable for successive five-year periods" as a path to a passport on autopilot. It is not. Spain's 10-year nationality clock and 5-year long-term residence clock are separate instruments under the Codigo Civil and LO 4/2000, and both require effective residence, which the historically low- presence design of the Golden Visa made hard to build. A renewable card is not, by itself, a citizenship timetable.
Can I still renew, and what happens next?
A card in force on 3 April 2025, or granted afterward on a filing made before that date, renews under Article 67 of Ley 14/2013 as it stood at the date of the original grant. That means successive five-year periods, uncapped, for as long as the original conditions hold. The UGE criteria confirm this covers all modalities, not property alone.
What is not in the statute
Two things worth separating from the law itself. The "roughly one visit a year" rule that most holders have operated on is longstanding administrative practice and older UGE guidance, not a sentence in Disposicion transitoria segunda or in Article 67. What Article 67 actually asks for is maintenance of the qualifying investment, with a market-fluctuation carve-out, not a day count. We could not re-fetch the specific earlier UGE instruction that first set the visit test on this pass, so we are flagging that rather than restating a fee schedule or a document list as though it came from the transitional law.
The other gap is evidentiary. How you prove in 2026 that you still hold the qualifying investment, whether that is a nota simple, a Bank of Spain certificate or a deposit statement, sits in Ley 14/2013's older Article 64 documentation and in lawyer practice notes, not in LO 1/2025 itself. Treat those as secondary until you have confirmed the current list with your own UGE file.
If the fit has changed
Some holders read this page and conclude the fund position they hold no longer earns its place, or that a family member's situation now falls outside the investor chapter. For that fork, our live-visas extra works through the non-lucrative, digital nomad and entrepreneur routes that are actually open to new applicants, none of which is a Golden Visa and all of which require real presence in Spain. If the decision is really about leaving the Spanish system altogether, the Portugal versus Spain comparison and the Greece versus Spain comparison both start from the same 3 April 2025 closure and set out Plan-B scenarios for the shopper who wanted a zero-stay EU card.
Frequently asked
Is Ley 7/2025 the statute that closed the Golden Visa?
No. That number circulates in secondary summaries and it is not the repeal vehicle. Searches of BOE on 21 August 2026 turned up no repeal of Articles 63 to 67 of Ley 14/2013 attached to a Ley 7/2025. The actual instrument is Ley Organica 1/2025, de 2 de enero, de medidas en materia de eficiencia del Servicio Publico de Justicia, a 272-page justice-efficiency organic law that tucks the Golden Visa kill into Disposicion final vigesimoprimera. If a firm or a forum quotes Ley 7/2025 to you, ask them to point at BOE. They cannot, because it is not there.
My card says 'por adquisicion de bienes inmuebles' in the transitional heading. Does that mean only property investors can renew?
Read past the heading. Disposicion transitoria segunda is titled Renovaciones de visados y autorizaciones para inversores por adquisicion de bienes inmuebles, which on its face limits renewals to property. The body of the same article, one paragraph down, says visados y autorizaciones para inversores with no modality limit, and sends renewals back to the rules in force at the date the initial authorisation was granted. The UGE-CE criterios de gestion of 10 June 2025 close the gap directly: se admiten todas si las autorizaciones iniciales reunian todos los requisitos para ser concedidas. Funds, bonds and business-project grants renew on the same terms as property. Uria Menendez's 8 January 2026 note calls the heading a desafortunada redaccion, and that is the fair description.
How long can I keep renewing?
The transitional law does not write an end date. Article 67 of Ley 14/2013, as it stood after Ley 28/2022 and as the transitional article sends you back to, gives an initial authorisation of three years and then successive five-year renewals, uncapped in number, for as long as you keep meeting the original qualifying conditions. There is no 2028, no 2030 and no last-renewal clause in the statute. Do not let anyone sell you a countdown that is not written anywhere.
Can I convert my investment and keep renewing?
Sometimes, and the direction matters. The UGE criteria allow conversion between non-property investment types, and from real estate into another qualifying type at the statutory minimum, for example flat into a 1,000,000 euro fund position. They do not allow the reverse: funds, bonds or shares into a new property does not qualify for renewal. That asymmetry is a straight read of the housing politics behind the repeal, not a drafting accident.
My spouse and I married after 3 April 2025. Can they get a family card on my investor authorisation?
No. The UGE criteria are explicit that family situations arising after 3 April 2025, including marriages and births, are inadmisible under the investor chapter and must go through the general immigration regime, Real Decreto 1155/2024. A spouse or child who already held a family card in force on 3 April 2025 keeps it and renews alongside the titular. The cut-off is the date the family relationship existed, not the date you file the renewal.
I inherited the property that funded a relative's Golden Visa. Do I inherit the card too?
No. The UGE criteria describe the residence right as personalisimo, not transferable, and specifically exclude transmissions by herencia o donacion, or inter vivos generally, that occurred after 3 April 2025 as a basis for the investment. You inherit the asset under ordinary succession law. You do not inherit a queue position in the investor chapter.
Does the one-visit-a-year rule still apply to renewals?
Practically, holders have operated on roughly one visit a year for years, but that figure is administrative practice, not a sentence in Disposicion transitoria segunda or in Article 67. What Article 67 actually requires is that the qualifying investment conditions be maintained, with an exception for ordinary market fluctuation in value. We could not re-fetch the specific pre-repeal UGE instruction that first set the visit test on this pass, so we are naming that as a gap rather than dressing practice up as statute.
Named gaps
- The UGE criterios de gestion of 10 June 2025 were fetched from infoextranjeria.org with Ministry letterhead. No matching URL on inclusion.gob.es or the UGE site itself was found on this pass.
- No published series of post-repeal investor renewals granted or refused exists. The UGE line "se admiten todas" is conditioned on the original grant being valid, and how often files fail that test is unpublished.
- The specific pre-repeal UGE instruction that first set the roughly one-visit-a-year practice was not re-fetched on this pass. The visit rule is real practice, not a sentence in DT segunda or Article 67, and should not be upgraded to statute.
- How to evidence continued maintenance of the investment in 2026, nota simple against Bank of Spain certificate against deposit statement, is not written in LO 1/2025 and is not restated here.
- No live first-person 2026 forum thread of a holder saying "I renewed after 3 April 2025" or "UGE refused my renewal" was found on Reddit, Hacker News or Expat.com on this pass. The Expat.com holder voice available is from before the closure, anticipating it, not describing a 2026 renewal.
Sources
- Ley Organica 1/2025, de 2 de enero, BOE num. 3, 3 January 2025, referencia BOE-A-2025-76, pages 796 to 1067. boe.es/eli/es/lo/2025/01/02/1
- Ley Organica 1/2025, consolidated text. boe.es/buscar/act.php?id=BOE-A-2025-76
- Ley 14/2013, consolidated snapshot before repeal, 22 December 2022 version, Articles 63 to 67. boe.es/buscar/act.php?id=BOE-A-2013-10074&p=20221222
- Ministerio de Inclusion, Seguridad Social y Migraciones, criterios de gestion, derogacion figura "inversores" Ley 14/2013, 10 June 2025, Ministry-headed copy. infoextranjeria.org
- Plataforma ONE, "La supresion del visado de inversores en Espana y sus implicaciones," 26 December 2025. one.gob.es
- Uria Menendez, "Criterios aplicables en Espana a la renovacion de la Golden Visa," 8 January 2026. uria.com
- Expat.com, "Golden visa Spain," first-person holder and shopper posts from before the closure. expat.com
- Our own Spain country dossier, which this extra sits under.
- Methodology: every page above opened, or attempted and recorded as blocked, on 21 August 2026.
Not legal advice. Readings here reflect Ley Organica 1/2025 and the UGE-CE criterios de gestion of 10 June 2025 as available on 21 August 2026. Confirm your own file date and grant conditions with UGE and a Spanish immigration lawyer before making a decision that depends on them.