Spain’s Golden Visa Program has been terminated by the Spanish government. Only until April 3, 2025, will wealthy foreign nationals be able to apply for Spain’s Golden Visa Program.
Spain’s residence by investment program, often known as the Spain golden visa, enables foreign nationals to make a considerable investment in the country while applying for an investor visa. Successful applicants and their families are permitted visa-free travel within Europe’s Schengen area. They get the right to live, work, and study in Spain, and freedom of travel to the EU and Europe’s Schengen Area.
According to the website Schengen News, the program’s termination was announced in Spain’s Official State Gazette (BOE) on January 3, 2025, and it will go into effect three months later. The Spanish Congress of Deputies authorized the termination of the Golden Visa Program in December 2024. On January 3, 2025, Spain’s Official State Gazette (BOE) published Organic Law 1/2025, officially confirming the abolishment of this program.
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Non-EU nationals who wish to apply for residency in Spain under the Golden Visa Program have until April 3, 2025, to submit their applications. In the first ten months of 2024 alone, Spanish officials granted 780 golden visas, with an average investment of €657,204 per applicant.
This means that until April 3, 2025, wealthy investors from non-EU nations will be able to purchase a home valued at €500,000 or more in exchange for a golden visa, the program’s most well-known option. Alternatively, foreigners can deposit a minimum value of EUR 1 million into investment funds, bank deposits, or listed company shares in Spanish financial institutions or hold government bond investments with a minimum value of EUR 2 million.
According to Henley & Partners, individuals and their immediate family members can become Spanish residents (via a temporary residence permit) in less than a month thanks to the residence by investment program.
Residents by investment can get permanent residence status after five years of continuous presence in Spain, subject to general immigration laws and criteria, and may thereafter apply for Spanish citizenship. Residents may apply for citizenship only in their 10th year of residence in Spain.
Foreigners wishing to settle in Spain must move quickly as the Golden Visa Program in Spain is soon to expire.