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Spain ended Golden Visa Program after over a decade
Spain officially ended its Golden Visa Program on April 3, 2025, halting residency by investment opportunities for non-EU nationals, due to housing affordability concerns. The article Spain ended Golden Visa Program after over a decade first appeared in TravelDailyNews International.
As of April 3, 2025, Spain has officially terminated its Golden Visa Program, ending the possibility for non-EU nationals to secure residency through financial investment in the country. The cessation marks the end of a program that has been in effect since its inception in 2013 under the government led by Mariano Rajoy.
The program, which has issued a total of 14,576 golden visas since its launch, was initially established to stimulate the Spanish economy by requiring a minimum investment of €500,000. Despite offering various investment avenues, an overwhelming 95% of these visas were granted through real estate purchases.
The termination of the program was primarily driven by concerns over escalating housing costs in major cities such as Madrid and Barcelona, where the influx of foreign investment significantly impacted the local real estate market. This surge in property prices has made housing increasingly unaffordable for many Spanish citizens.
The most significant beneficiaries of the program were individuals from China, the United States, and the United Kingdom. The decision to end the program followed remarks by Pedro Sanchez, the Spanish President of the Government, in April 2024, emphasizing the need to prioritize housing as a basic right rather than a commodity for speculation.
The decision to abolish the Golden Visa Program was formalized by the Spanish Congress of Deputies in December 2024, with a close vote of 177 in favor and 170 against. The termination was legally solidified with the publication of Organic Law 1/2025 in Spain’s Official Gazette on January 3, 2025, stating the program would conclude three months post-publication.
From January to October 2024, the program saw 780 visas issued, with a notable rush following Sanchez’s announcement of the impending closure. Although no official figures have been released for 2025, the real estate sector suggests approximately 500 golden visas were granted in the first quarter of the year, reflecting a last-minute surge in applications before the program’s conclusion.
The article Spain ended Golden Visa Program after over a decade first appeared in TravelDailyNews International.
