Spain Golden Visa Ending: Official Closure Date Announced

April 3, 2025, is the final deadline for submitting applications for non-EU nationals interested in acquiring residency in Spain through the Golden Visa Program.

Spain has formally announced the closure of its golden visa program, with the publication of Organic Law 1/2025 in the country's Official State Gazette (BOE) on January 3. The law, signed by King Felipe VI, will come into effect three months after its publication, setting April 3, 2025, as the final deadline for new golden visa applications.

Political Maneuvering Behind the Closure

The legislation repeals Articles 63 through 67 from Law 14/2013, which had originally established Spain's golden visa framework in 2013. The decision to terminate the program follows months of political maneuvering, with Prime Minister Pedro Sánchez pushing for its closure since April 2024, citing concerns over housing market inflation and potential security risks.

Despite initial opposition from the Senate's Popular Party (PP) majority, which temporarily halted progress through a December 2 veto, Congress ultimately overrode the opposition, with 177 members voting in favor of the program's closure and 170 against.

Protection for Existing Visa Holders and Applicants

The BOE text guarantees protection for existing applicants and current golden visa holders. Investors or their family members who submit complete applications before the April deadline may still receive visas or authorizations in accordance with the regulations in force at the time of their application submission.

Moreover, visas and authorizations for investors through real estate acquisition that are valid on the date the transitional provision enters into force will maintain their validity for the period for which they were issued.

Implications for Investors and Application Timeline

As Spain moves to close its doors to new golden visa applicants, prospective investors must act quickly to submit their applications before the April 3, 2025, deadline. Those who have already obtained visas or authorizations through the program can rest assured that their rights will be protected, as the government has pledged to honor the validity of existing golden visas for the duration of their issuance.

Broader Impacts of Spain’s Decision

The closure of Spain's golden visa program marks a significant shift in the country's approach to attracting foreign investment and reflects growing concerns among European nations regarding the potential risks associated with such programs.

As the deadline approaches, interested investors should carefully consider their options and seek guidance from experienced professionals such as Savory & Partners to navigate the application process and ensure compliance with the transitional provisions.