Overview

On April 3, 2025, the applications for Spain’s Golden Visa Program will cease for non-European Union nationals. This change follows the approval by the Spanish Congress of Deputies in December 2024, where a proposal to abolish the program received 177 votes in favor, against 170 votes opposing it.

Cibeles Fountain Figcaption: Cibeles Fountain – a fountain in the square of the same name in Madrid

The official notice was published in Spain’s Official State Gazette on January 3, 2025. The law indicates that three months after publication, the law will take effect, meaning that wealthy investors from outside the EU will no longer have the option to invest in property worth €500,000 to obtain residency.

This regulation changes the face of investment in the Spanish property market, as it aims to prioritize housing as a right rather than a speculative venture. Pedro Sanchez stated that Spain will enforce necessary measures to protect housing access rights.