Spain has announced April 3, 2025, as the final deadline for non-EU nationals to apply for residency through the Golden Visa Program. This move aims to tackle the country’s ongoing housing crisis, emphasizing affordable housing over speculative investments.
Attention non-EU investors! Spain is set to end its Golden Visa Program, and the application deadline is rapidly approaching. This program grants residency to affluent individuals from outside the European Union in exchange for substantial investments. Don’t miss this opportunity!
Key Dates and Information:
- Application Deadline: April 3, 2025 – This is the final date to submit your application for the Golden Visa Program.
- Program Abolishment: The program will officially end on July 3, 2025, three months after it was published in the Official State Gazette (BOE) on January 3, 2025.
A Brief Timeline of Events
- November 14, 2024: The Spanish Congress of Deputies approved the proposal to abolish the Golden Visa 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 favour and 170 against.
- January 3, 2025: Spain’s 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, allowing 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:
- Investing in property worth at least €500,000.
- Opting for other eligible investment options under the scheme.
The program’s most popular pathway involves purchasing high-value real estate and offering residency benefits in return.
Why Is Spain Ending the Golden Visa Program?
The decision to abolish the Golden Visa Program stems from efforts to tackle Spain’s 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
Introduced in 2013, the Golden Visa Program significantly boosted Spain’s economy. In the first ten months of 2024 alone:
- 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 might be other residency permit options available for non-EU investors. Consider exploring these alternatives or consulting with an immigration specialist for personalized guidance.
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.
Final Words
The end of Spain’s Golden Visa Program marks a pivotal shift toward prioritizing affordable housing. Investors should act quickly to secure residency before the April 3, 2025, deadline and explore alternative visa opportunities.
Source:https://travelobiz.com/spain-to-end-golden-visa-program-in-april-2025-for-non-eu-nationals-apply-now/
