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07 Jan

Spain to Officially End Its Golden Visa Program in April 2025

April 3, 2025, is the final deadline for submitting applications for non-EU nationals interested in acquiring residency in Spain through the Golden Visa Program.

In December 2024, the Congress of Deputies in Spain approved the Golden Visa Program, with the proposal passed with 177 votes in favour and 170 against Schengen.News reports. 

On January 3, 2025, Spain’s Official State Gazette (BOE) published Organic Law 1/2025, officially confirming the abolishment of this program. 

The Law emphasises that the decision will become effective three months after its publication in the Official State Gazette. 

This means that wealthy investors from countries outside the European Union will be eligible to purchase a property worth €500,000 or more in exchange for obtaining a golden visa, which is the most famous option of this program, or choose other options of this scheme until April 3, 2025. 

Spanish Senate Vetoed the Bill on December 2 
After being approved by the Spanish Congress of Deputies in December 2024, authorities in Spain announced that the new decision was ready to be published in the Official State Gazette (BOE). 

At first, the regulation was approved by the Congress of Deputies in Spain on November 14 and then moved forward in the plenary process to reach the Senate. But on December 2, 2024, the Spanish Senate vetoed the bill that would abolish the Golden Visa Program.

In April 2024, authorities in Spain unfolded plans to terminate the Golden Visa Program, with the President of the Government, Pedro Sanchez, stressing that his country would take all the needed measures to ensure that housing is not a mere speculative business but a right.

Abolishishment of Golden Visa Program Linked With Housing Crisis 
Spain’s decision to put an end to its Golden Visa Program came in a bid to better manage the housing crisis that the country is dealing with. 

Launched in 2013, the Golden Visa Program of Spain made a significant contribution to the country’s economy. 

In the first ten months of 2024 alone, a total of 780 golden visas were granted by authorities in Spain, with an average investment of €657,204 per applicant.

Source: https://schengen.news/spain-to-officially-end-its-golden-visa-program-in-april-2025/