The popular Golden Visa programme by Spain, which grants residency to non-EU citizens through significant investments, will end in April 2025. The deadline for submitting applications is 3 April 2025.

Introduced in 2013, the Golden Visa programme has been a significant driver of foreign investment in Spain. However, the government has decided to phase it out amid concerns about rising housing costs and the need to reform the real estate market.

Spain’s Golden Visa programme to end by April 2025: Key details

Wealthy foreign nationals will be eligible to apply for Spain’s Golden Visa Program only until April 3, 2025.#spain #spanish #goldenvisa #schengenvisainfo #news #breakingnews #europe #eu #eunews #europenews pic.twitter.com/lnUg2VCIut

— SchengenVisaInfo (@schengen_info) January 8, 2025

In December 2024, the Spanish Congress of Deputies approved the law abolishing the Golden Visa with 177 votes in favour and 170 against. By 3 January 2025, the Official State Gazette published Organic Law 1/2025, putting the abolishment in motion. According to the law, the decision will become effective 3 months after publication.

Spain’s move to abolish the Golden Visa comes as the country faces a housing crisis. The end of the scheme aligns with the government’s efforts to reform the real estate market by making it affordable.

Spain will continue to accept foreign investments until 3 April 2025, in any of the following forms:

Minimum EUR 2,000,000 (approximately INR 17,69,88,000) in Spain’s government bonds
EUR 1,000,000 (approximately INR 88,49,40,00) in stocks or shares of Spanish companies
Real estate of at least EUR 500,000 (approximately INR 44,24,7000)
Spanish businesses that help with technological innovation or socio-economic growth

The investment will be the gateway to a visa, granting entry to Spain. This visa can be exchanged for permanent residence and citizenship if the candidate meets all demands.

Explore more details about Spain’s Golden Visa through the official website.

(Hero Image: Courtesy Reiseuhu/Unsplash; Featured Image: Courtesy Jonas Hoss/Unsplash)

This story first appeared here.

Note:

The information in this article is accurate as of the date of publication.