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Verdict
Yes — you can hold Spain and Germany citizenship simultaneously.
Spain
Dual citizenship policy
Permitted for descent and Memory Law applicants. Spain generally requires renunciation for naturalized citizens, but this is not enforced for Ibero-American/Sephardic descent.
Germany
Dual citizenship policy
Permitted for Article 116 restitution and StAG §15 cases. For standard descent: generally requires renunciation, but 2024 dual citizenship reform now permits it.
Both Spain and Germany permit dual citizenship. You can acquire, hold, and use both passports simultaneously without legal restrictions.
This assessment is based on each country's current nationality law. Dual citizenship rules can change — always verify with the relevant consulate or an immigration attorney before making decisions about renunciation or acquisition.