The end of the Golden Visa

Spain has announced it will officially terminate its “Golden Visa” program by January 2025. This program, which granted residency permits to foreign nationals who invested at least €500,000 in Spanish real estate or other qualifying assets, is being discontinued due to concerns over its contribution to rising housing costs and market speculation.

The Socialist-led government has incorporated the cancellation into broader legislative reforms. However, a transitional provision will allow applications submitted before the end of 2024 to be processed under the existing rules. This move aligns with EU-wide concerns about similar programs potentially facilitating money laundering and other illicit activities .

If you are considering applying under the current framework, it is advisable to act promptly, as time is limited before the program’s closure .