April 3rd, 2025: Game Over for Golden Visa. What are the options now?
Since its inception in 2013, the Spanish Golden Visa has been a lifeline for non-EU nationals seeking residency in Spain through investment. It has allowed individuals to obtain a residence permit by investing at least €500,000 in real estate. Other avenues, such as bank deposits, shares in Spanish companies, or public debt, have also been available, but real estate has consistently remained the top choice for those looking to combine investment with a Mediterranean lifestyle.
However, significant changes are underway. Last year, the Spanish Government announced its intention to abolish the Golden Visa programme's real estate investment pathway. This development culminated in the approval of the amendment on 14 November 2024, with the Senate ratifying the decision soon after. The changes were published in the Official State Gazette (BOE) on 3 January 2025, setting the stage for the programme's termination.
What Does This Mean for Investors?
The Golden Visa programme remains valid for now, but the clock is ticking. Investors planning to leverage this opportunity must act swiftly, as applications must be submitted before 3 April 2025 to benefit from the current regulations.
Key transitional provisions include:
- Applications submitted before 3 April 2025: These will be processed under the existing rules.
- Valid visas as of 3 April 2025: These will remain effective for the duration originally granted.
- Renewals for existing Golden Visas: These will be handled under the rules in effect when the initial authorisation was granted.
Why Act Now?
The Golden Visa has long been a magnet for investors seeking a blend of residency, financial returns, and access to the Mediterranean lifestyle. With the programme on the brink of closure, investors need to finalise property purchases and submit their applications without delay. Waiting could mean missing out on an opportunity that has attracted thousands over the lifetime of the scheme.
A Broader EU Trend
Spain’s decision to phase out the Golden Visa aligns with a growing EU trend. Countries such as Portugal and Ireland have already dismantled similar programmes, citing concerns about inflated property prices and uneven economic benefits. Spain’s move marks another step in this broader regulatory shift.
How NVOGA Can Help
For those looking to secure a Golden Visa before the April 2025 deadline, time is of the essence. NVOGA is here to guide you through the process, from selecting the perfect property to ensuring compliance with all legal requirements. Our experienced team is ready to assist you in making a swift and informed decision.
Seize the Opportunity
Don’t wait—invest now to take advantage of the Golden Visa before it’s gone. Speak to one of our expert advisors today to find your ideal Spanish property and secure your future in Spain.