Spain has officially declared the end of its Golden Visa Program, a popular residency-by-investment initiative for wealthy foreign nationals.
The program, which has significantly boosted Spain’s economy since its launch in 2013, will officially cease on April 3, 2025.
However, there’s still a window for eligible non-EU nationals to apply before the deadline.
Why is the Golden Visa Program ending?
Spanish Prime Minister Pedro Sánchez announced plans to terminate the program in April 2024, citing its impact on the country’s housing crisis. "We will ensure housing is not a mere speculative business but a right," Sánchez stated.
Critics argue that the program has inflated property prices, making affordable housing increasingly inaccessible for Spanish citizens.
The decision was solidified with the publication of Organic Law 1/2025 in Spain’s Official State Gazette (BOE) on January 3, 2025. This legislation grants a three-month grace period for prospective applicants to submit their applications before the program concludes.
Since its inception, Spain’s Golden Visa Program has driven economic growth, with 780 visas issued and an average investment of €657,204 per applicant in the first ten months of 2024.
Despite its success in attracting foreign investment, the government has prioritised tackling the housing crisis, prompting the program’s closure.
Application deadline and alternatives
The final date to apply for Spain’s Golden Visa is April 3, 2025. After this date, the program will no longer accept new applications.
For those who still wish to pursue residency in Spain, alternative options include:
- Non-Lucrative Visa: Designed for retirees and individuals with sufficient financial resources.
- Entrepreneur Visa: Targeted at innovative business founders.
These alternatives may suit non-EU nationals seeking to relocate to Spain.
How to apply
Eligible non-EU nationals can still secure a Golden Visa by meeting the program’s investment requirements, such as:
- Real Estate Investment: Purchase property worth at least €500,000.
- Capital Transfer: Invest €1 million in Spanish companies, bank deposits, or government bonds.
- Business Development: Commit €1 million to projects that generate jobs, foster scientific progress, or contribute to Spain’s socio-economic development.
The Golden Visa offers numerous benefits, including residency in Spain and access to travel within the Schengen Zone.
Eligibility requirements
Applicants must fulfill the following criteria:
- Be at least 18 years old.
- Hold a clean criminal record.
- Have health insurance (private or public).
- Demonstrate sufficient funds to sustain their stay in Spain.
- Meet the minimum investment thresholds.
Required documents
To apply, prospective investors must provide:
- A valid passport.
- Proof of investment.
- Health insurance coverage.
- A clean criminal record certificate.
All documents must be translated into Spanish and properly legalised.
Don’t miss this opportunity!
Time is running out for those considering Spain’s Golden Visa Program. Acting promptly and consulting with immigration experts can simplify the process and ensure compliance with Spain’s regulations.
If you're considering applying, this is your final opportunity to secure residency in Spain through the Golden Visa Program – act now before it's too late!