The Spanish Golden Visa, a residency-by-investment scheme, has been granted an unexpected three-month extension before its official termination. This offers one last chance for investors to benefit from the programme, which has been a popular pathway to Spanish residency since 2013. It also means that home sellers only have a very short period to capitalise on the last-minute demand.
What is the Golden Visa scheme?
Introduced by Spain’s Popular Party government in 2013, the Golden Visa allows non-EU nationals to obtain residency by investing at least €500,000 in Spanish real estate. While it has attracted significant international interest, the scheme has faced criticism for driving up property prices and intensifying gentrification. These concerns have long made it a target for Spain’s left-leaning political factions and the European Commission.
A gradual move toward termination
The push to reform or scrap the Golden Visa gained momentum in 2023 when Spain’s Socialist-led coalition government considered raising the minimum investment to €1 million or removing real estate as a qualifying asset. By mid-2024, the government moved decisively to phase out the programme, integrating its repeal into a broader judicial efficiency bill.
On 14 November 2024, the Spanish Congress approved legislation to end the Golden Visa. This decision became official on 19 December 2024, passing narrowly with 177 votes in favour to 170 against.
Opposition and a last-minute reprieve
Despite the law’s passage in Congress, opposition from the Senate—dominated by the People’s Party (PP)—delayed the process. The PP argued that the repeal should have been handled separately from the judicial reform bill, criticising the government for poor legislative planning. Ultimately, Congress overruled the Senate’s objections, and the law was published in the Official State Gazette on 2 January 2025, with the scheme initially set to end the following day.
However, in a surprising turn of events, the government announced a three-month transition period. This extension allows investors to continue submitting applications until 3 April 2025, offering a final opportunity to secure residency through the programme. Although with Spanish bureaucracy and the speed of dealing with things, this will be a lot shorter in reality!
What this means for investors
For non-EU nationals—including those from the UK and USA—this extension provides a unique last-minute chance to invest in Spanish real estate while gaining residency and visa-free access to the EU. The investment threshold remains €500,000, but with the deadline now firmly set, timing is critical.
For property sellers in Spain in the 350,000 to 1 million euro price range, it presents a last minute “golden opportunity” to market specifically to these buyers before the era of the Golden Visa ends. Here at Hola Properties, we are working closely with a number of retained clients to find properties for them in time to finale an application before the deadline.
Act now to secure your Golden Visa
With the scheme set to close permanently on 3 April 2025, potential investors must act swiftly to navigate the application process. This is the final window to take advantage of Spain’s Golden Visa, which has helped thousands achieve their dream of living in Spain while enjoying the benefits of EU residency.
If you’re considering this opportunity, now is the time to act. The countdown has begun, and the door will soon close on one of Spain’s most significant residency-by-investment programmes.
If you are selling a property in this price range it is vital that you contact us now to find out your options and how best to make sure you do not miss out on the last-minute gold rush. Just call us on 0034 858 215 333 or email: hola@holaproeprties.com.
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