Spain’s Golden Visa program ends this April: Don’t miss your last chance to apply.

The Spanish Golden Visa program has been a popular pathway for non-EU citizens to obtain residency in Spain through investment. Introduced as a way to attract foreign capital, the program offers various investment options, with the most favoured being a minimum of €500,000 in real estate. Other routes include bank deposits, shares in Spanish companies, or public debt.

The 'Golden Visa' program will officially end in April 2025, with permits no longer granted in exchange for investments. The Official State Gazette (BOE) has recently published the law confirming its termination.

Until then, the program remains in force, offering a limited window for those looking to take advantage of its benefits. Existing permit holders will retain their residency rights and will continue to be eligible for renewals even after the law takes effect.

Santiago Lapausa, economist and partner at JC & A Abogados explains how the program has gained widespread attention among international investors looking to benefit from Spain’s attractive lifestyle, stable market, and access to the broader Schengen area.

For those considering Spain’s Golden Visa, the coming months are critical. This program offers significant benefits, such as the right to live and work in Spain, access to high-quality healthcare and education, and visa-free travel across Schengen countries. However, its imminent discontinuation calls for swift and decisive action.

Investors who act promptly can still obtain residency under the current terms. With real estate remaining a reliable investment in Spain’s flourishing property market, this could be the last chance to benefit from the Golden Visa before the program comes to an end.

For clients considering luxury villas or properties that require time for a decision, there are alternative strategies to secure the Golden Visa now while options remain open. By investing €500,000 in an apartment or placing €1 million in a bank deposit, potential buyers can apply for the visa immediately. Once they finalize the purchase of their ideal villa, the visa will already be secured. Importantly, the €1 million deposit is refundable when the visa is cancelled, and the apartment can generate rental income and appreciate in value over time.

According to Santiago Lapausa, economist and partner at JC & A Abogados, 'The Spanish Golden Visa program has provided a popular pathway to residency through a €500,000 real estate investment, among other options like bank deposits, shares in Spanish companies, or public debt.

With Congress advancing towards the complete termination of the program,, those considering an investment should explore alternatives such as securing a visa now with a €500,000 property or a €1 million deposit. These strategies allow clients to safeguard their residency while finalizing the purchase of a luxury home. Time is of the essence to take advantage of this opportunity

For those who have already invested and submitted their applications, the Golden Visa will still be granted even if it is approved after the ban comes into force. Additionally, existing Golden Visa holders can still renew their permits’

In conclusion, the Golden Visa program has created opportunities for thousands of foreign investors. However, its imminent end marks a turning point, presenting both a challenge and an opportunity for those prepared to act decisively. If obtaining residency in Spain through investment has been part of your plans, now is the time to move forward before the window closes. Whether for personal use, relocation, or as a valuable asset, investing in Spanish real estate now offers a unique chance to secure long-term benefits and residency rights.

In addition to the Golden Visa program, Spain offers other pathways to obtain residency if you are a non-EU citizen, depending on the personal and professional circumstances of the applicants:

• Residency for highly qualified professionals: This visa is designed for individuals with skills and experience in specific sectors that are of interest to Spain.
• Residency for international remote workers: If you work remotely for a company outside of Spain, you may apply for this visa, which allows you to live in the country while continuing to work.
• Residency based on social or family ties: This option is available to individuals who have lived in Spain for an extended period and have family or social connections in the country.
• Student visa: If you plan to study in Spain, you can apply for a student visa, which also allows you to work part-time.
• Residency for entrepreneurs: This visa is available for those with an innovative business project they intend to develop in Spain.

Interested in obtaining the Golden Visa? See our portfolio of properties over 500.000€

Pia Arrieta, 14 Jan 2025 - News