Golden Visa Set to End: What the Proposed 2025 Changes Mean for Investors

What Is the Golden Visa?

Introduced in 2013, the Golden Visa allowed non-EU citizens to gain Spanish residency by making significant investments in the country. These investments could include purchasing real estate worth at least at least €500,000, contributing €2 million or more to Spanish government bonds, or making substantial investments in Spanish businesses.

This initiative has been particularly attractive to individuals looking for a European base, offering the freedom to travel across the Schengen Zone while enjoying the benefits of living in Spain.

However, the Spanish government intends to end this program for new applicants starting in 2025. Let’s take a look at what this means for investors who are either already part of the system or considering applying.

Existing Residents Will Not Be Affected

Those who have already been granted residency through the Golden Visa will not see any immediate changes. As outlined in the new proposal, current holders will still be able to renew their residence permits as long as they meet the existing requirements. This means that if you are already benefiting from the program, your status remains secure.

Pending Applications Are Protected

For those who have applied but have not yet received approval, there is good news. A transitional clause in the new law will ensure that individuals who have already submitted their applications before the new regulations are enacted will still be processed under the old rules. This provides peace of mind for those who are already in the application process.

The Future of Investment-Based Residency

While the Golden Visa is coming to an end, Spain is likely to explore other avenues for attracting foreign investors. However, details about what alternative residency programs may look like remain unclear. It’s worth staying informed about potential changes in the coming years.

What Does This Mean for You?

For those interested in securing a Spanish residence permit through investment, now is time to act. If you’ve been considering applying for residency via real estate or other qualifying investments, now may be the final opportunity to do so before the law changes.

If you’re already holding a Golden Visa, rest assured that your ability to live and work in Spain will not be disrupted, and your residence permit can continue to be renewed as usual, provided that the renewal requirements established under the current regulations are met.

What’s Next?

The decision to end the residency-by-investment program represents a significant change in Spain’s approach to immigration and investment. As the government finalizes these plans, we will continue to keep you updated on any new developments or alternative pathways to residency.

For now, investors and prospective applicants should consult with legal and immigration experts to understand how the new law might affect their plans. Whether you’re an existing resident or still considering your options, staying informed will help you navigate these upcoming changes with confidence.

In conclusion, while the Golden Visa is coming to a close, it’s important to remember that Spain remains a top destination for international investors. With the right planning, you can continue to enjoy the benefits of living in Spain, whether through the existing residency programs or new opportunities that may arise. Stay tuned for further updates as we monitor this evolving situation.