Spain ends its 'golden visa' programme from April 2025

Spain's Congress of Deputies has voted to end the "golden visa" programme, which granted residency in exchange for investment. The law is expected to take effect after publication in the Official State Gazette in the coming days. After that, applicants will have a three-month transition period to complete property purchases and submit their "golden visa" application by 1 March 2025.

The programme, launched in 2013 at the height of the financial crisis, allowed 15,450 foreigners to obtain Spanish residency, 95% of them through property purchases. However, the rise in such investments contributed to a housing crisis in the country and rising property prices, especially in major cities.

Spanish Prime Minister Pedro Sánchez announced in April 2024 his intention to end the programme in order to tackle the housing affordability crisis and curb property market speculation.

All previously issued "golden visas" and their renewals will remain valid under the 2013 law.