There are several theories about the history of the Helge Ands Church.

According to one of them, the church was built and supported by King Valdemar II of Denmark. This theory is based on similarities with the Danish king's chapel in Stora Hedinge on  Själland , which was built around the same time. However, the similarities are limited and Stora Hedinge had defensive structures that are absent in Visby's Helge Ands Church. It also seems unlikely that there were enough Danish merchants in Visby in the early 1200s to justify building a Danish church in the city.

Another theory suggests that the church was built for Bishop Albert of Riga, who is known to have been on Gotland in the early 13th century to gather crusaders and missionaries to go with him to Livonia. The church was used as a gathering place for pilgrims and crusaders. Contemporary sources state that Albert had the right to appoint a pastor in a church in Visby named St. James. Since St. James Church has not been found so far, the conclusion has been drawn that Helge Ands Church was actually called St. James Church in the past. 

But most likely, Helge Ands Church was built as a hospital church, and that St. James Church was located elsewhere in Visby. 

Helge Ands Church was destroyed during the 16th century due to a fire, and since then, it has remained as a ruin.

Despite its ruined state, the Helge Ands church still retains its impressive architectural features, such as the high vaulted ceilings, elegant columns, and intricate carvings. The ruins offer visitors a glimpse into the past and provide insight into medieval architecture and building techniques.