Spain’s Golden Visa Program to End on April 3, 2025

The deadline for non-EU nationals to apply for residency in Spain through the Golden Visa Program has been set for April 3, 2025. This follows the recent legislative decision to abolish the program, which has been a popular pathway for wealthy investors seeking residency in Spain.

In December 2024, the Spanish Congress of Deputies approved the termination of the Golden Visa Program with 177 votes in favor and 170 against. The decision was officially confirmed on January 3, 2025, when Spain’s Official State Gazette (BOE) published Organic Law 1/2025. The new law stipulates that the program will end three months after its publication, giving applicants until April 3, 2025, to submit their requests.

The Golden Visa Program, launched in 2013, allows non-EU nationals to gain residency in Spain by making significant investments, such as purchasing property valued at €500,000 or more. The program has been credited with contributing to Spain’s economy but has also been criticized for its role in exacerbating the country’s housing crisis. Investors who wish to take advantage of the program before its termination can still apply until the April deadline.

The legislative process to abolish the program faced challenges. Although the Congress of Deputies initially approved the proposal on November 14, 2024, the Spanish Senate vetoed it on December 2. Despite this setback, the Congress proceeded with the measure, leading to its eventual publication in the BOE.

Prime Minister Pedro Sanchez has been a vocal advocate for ending the Golden Visa Program as part of broader housing reforms. In April 2024, Sanchez outlined plans to terminate the program, emphasizing the importance of ensuring housing remains a right rather than a speculative commodity. “I want to announce that tomorrow’s Council of Ministers is going to study a report submitted by the Minister of Housing and Urban Agenda to modify the Law, approved by the Popular Party in 2013, which allows obtaining a residence visa if you invest in housing in our country,” Sanchez declared.

The Golden Visa Program has drawn significant foreign investment since its establishment. During the first ten months of 2024, Spanish authorities granted 780 golden visas, with an average investment of €657,204 per applicant. While the program has been beneficial to the economy, its termination reflects the government’s efforts to address Spain’s housing crisis and ensure affordable housing for its citizens.

As the April 3, 2025, deadline approaches, non-EU nationals looking to secure residency in Spain under the Golden Visa Program must act quickly to submit their applications before the program officially ends.

By fLEXI tEAM