Spain declared the end of the Golden Visa. Is there time to apply?
From April 3rd, 2025, Spain will stop issuing residence permits by investment, also known as Golden Visas.
Discussions about ending the programme began in spring 2024, with somewhat of a final decision made a few months later, on November 14th.
Let’s explore the reasons for the cancellation and the options left for investors.
Head of the Maltese office, MBA
Spain declared the end of the Golden Visa. Is there time to apply?
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Latest update. Spain will no longer issue residence permits by investment. The Congress of Deputies has approved a law that will officially end the Golden Visa programme.
The exact date for the cancellation of the Golden Visa has also been announced. The country will cease the programme from April 3rd, 2025. The new regulations were published in the official gazette on January 3rd, 2025.
The law won't be applied to past actions. This means that investors and their family members who apply before April 3rd, 2025, can still get Spanish residency.
The changes come into effect in three months after the official publication. Previously, it was assumed that the Golden Visa would be closed in March 2025.
Idealista website suggests that the fate of the Golden Visa was decided behind closed doors on October 30th, 2024. It is worth noting that amendments to the organic law on obtaining residency by investment were submitted by September 2024.
The law will not apply retroactively. This means that investors and their family members who submit applications before the date—April 3rd, 2025—can still obtain Spanish residency.
The abolition of Golden Visas aims to prevent a housing crisis in the country. The decision is expected to make property more affordable for locals, particularly in major cities and tourist hotspots.
Can investors apply for a Golden Visa now?
They can. While the Golden Visa remains, investors have the following options:
Purchasing real estate worth over €500,000.
Buying shares in Spanish companies or units in investment funds starting from €1,000,000.
Opening a deposit in a Spanish bank for at least €1,000,000.
Investing in government bonds from €2,000,000.
The cancellation of programmes such as the Spanish Golden Visa usually does not affect those who have already obtained it. Residency permits will remain valid and can be renewed, provided the investor continues to meet the required conditions.
Golden Visas in Europe that are still available
Malta Permanent Residence Program has several investment conditions. Investors buy or rent real estate, pay government fees and make donations.
In Greece, investors can obtain residency by investing at least €250,000 in real estate, securities, businesses, or by opening a deposit. Residency cards are renewed every five years as long as the investment is maintained.
Hungarian Golden Visa is granted for 10 years. To qualify, foreigners invest in local real estate funds or donate to Hungarian universities. The minimum investment is €250,000.
In Cyprus, investment grants permanent residency. Investors purchase real estate, shares in Cypriot companies, or securities in investment funds. The minimum investment is €300,000, and applicants must prove an overseas income of at least €50,000 annually.
Portugal requires a minimum investment of €250,000. Investors choose between supporting arts and cultural heritage, financing research activities, purchasing investment fund units, opening a company or investing in an existing business. If the investor and their family members remain Portuguese residents for 5 years, they can apply for permanent residence or citizenship.
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