Applications for Spain’s Golden Visa Surge as U.S. Nationals Rush to Secure Residency

A dramatic 200 percent increase in applications for Spain’s Golden Visa Program has been recorded in Madrid alone from United States nationals in recent months. This surge follows the Spanish authorities’ announcement in December that the program would remain active for only a few more months.

Spain is set to officially terminate its Golden Visa Program on April 3, 2025. The initiative, which grants residency in exchange for financial investments from wealthy individuals, is being abolished as part of the government’s efforts to address the ongoing housing crisis.

Ángel Sánchez, partner and lawyer at Golden Partners, highlighted that the surge in applications is driven by the urgency among investors who are keen to secure their residency in Spain before the program ends. “Spain has been an attractive destination for foreign investors for years, and the Community of Madrid has established itself as its main focus of interest,” Sánchez stated.

Madrid continues to be the preferred location for foreign investments in Spain. In 2024 alone, 74.8 percent of all foreign investments made in the country were concentrated in the Madrid region, as reported by El Debate. United States nationals account for a significant portion of these investments, particularly those seeking dual Spanish-American nationality.

“Since last Christmas, we have noticed a notable increase in the number of American investors in Madrid looking for real estate worth at least half a million euros in order to be able to apply for their golden visa before April 3. Specifically, by 200 per cent since last January of this year 2025,” Sánchez explained.

On January 3, 2025, the number of applications for Spain’s Golden Visa Program reached unprecedented levels. The Golden Partners firm, which specializes in advising foreign nationals on Spain’s real estate market, revealed that applications had already tripled in June 2024. However, the most dramatic surge occurred on January 2 and January 3, immediately after Spain’s decision to end the program was officially published in the Official State Gazette (BOE).

According to government data, from January to October 2024, Spain issued approximately 780 golden visas to international investors. However, this figure remained significantly lower compared to the same period in 2023, when 3,200 golden visas were granted.

The statistics also show that in the past year, nationals from China, Russia, the United Kingdom, and the United States were among the primary beneficiaries of Spain’s Golden Visa Program. Additionally, a considerable number of golden visas were issued to investors from Iran, Ukraine, Venezuela, and Mexico.

By fLEXI tEAM