Attention non-EU investors! Spain’s Golden Visa Program, a popular pathway to residency for affluent individuals, is set to end in April 2025. If you’ve been considering this opportunity, now is the time to act. The program, which grants residency in exchange for significant investments, will officially close its doors, marking the end of an era for non-EU nationals seeking to live and invest in Spain.
This article provides a comprehensive guide to the program’s timeline, eligibility criteria, and the reasons behind its abolishment. Don’t miss your chance to secure residency before the deadline!
Key Dates and Deadlines
Here’s what you need to know about the timeline for Spain’s Golden Visa Program:
- Application Deadline: April 3, 2025 – This is the final date to submit your application.
- Program Abolishment: The program will officially end on July 3, 2025, three months after its publication in the Official State Gazette (BOE) on January 3, 2025.
A Brief Timeline of Events
The decision to end the Golden Visa Program has been a gradual process:
- November 14, 2024: The Spanish Congress of Deputies approved the proposal to abolish the program.
- December 2, 2024: The Spanish Senate vetoed the bill, temporarily delaying its implementation.
- December 2024: The Congress of Deputies re-approved the proposal, passing it with 177 votes in favor and 170 against.
- January 3, 2025: The Official State Gazette (BOE) published Organic Law 1/2025, officially confirming the program’s abolishment.
The new law specifies that the Golden Visa Program will cease to exist three months after its publication, giving applicants a grace period until April 3, 2025, to invest and secure residency.
Eligibility Before the Deadline
Non-EU nationals can still take advantage of the Golden Visa Program until the deadline. Here’s how:
- Invest in Property: Purchase real estate worth at least €500,000.
- Other Investment Options: Explore other eligible investments under the scheme.
The program’s most popular pathway involves purchasing high-value real estate, which offers residency benefits in return.
Why Is Spain Ending the Golden Visa Program?
The decision to abolish the Golden Visa Program is part of Spain’s efforts to address its housing crisis. Prime Minister Pedro Sánchez emphasized the need to prioritize housing as a fundamental right rather than a speculative investment opportunity.
“We will ensure housing is not a mere speculative business but a right,” stated Sánchez. Plans to terminate the program were initially announced in April 2024 as part of broader measures to regulate the housing market.
Economic Impact of the Program
Since its introduction in 2013, the Golden Visa Program has significantly boosted Spain’s economy. Here are some key figures from the first ten months of 2024:
- 780 golden visas were issued.
- The average investment per applicant was €657,204.
These figures highlight the program’s economic contribution, particularly in the real estate sector.
Looking for Alternatives?
While the Golden Visa Program is ending, there are other residency options available for non-EU investors. Consider exploring:
- Entrepreneur Visas: For those looking to start a business in Spain.
- Non-Lucrative Visas: For individuals with sufficient financial means to live in Spain without working.
- Work Visas: For professionals with job offers from Spanish employers.
For personalized guidance, consult an immigration specialist or visit the official Spanish Immigration Website.
Key Takeaways for Potential Applicants
- Act Quickly: Submit your application before April 3, 2025.
- Investment Options: Focus on properties or other eligible investments worth €500,000 or more.
- Impact on Housing Market: The abolishment aims to curb speculation and ensure affordable housing for residents.
Conclusion
The end of Spain’s Golden Visa Program marks a significant shift in the country’s approach to housing and investment. While the program has been a boon for non-EU investors, its abolishment reflects Spain’s commitment to addressing its housing crisis and ensuring affordable living for its residents.
If you’re considering this opportunity, act now to meet the April 3, 2025, deadline. For the latest updates and official guidelines, visit the Spanish Immigration Website. Your journey to residency in Spain starts here!
