18 de November, 2024
Spain is one of the most sought-after destinations in Europe for those looking to invest in a promising future. The Golden Visa Spain is one of the most desired programs in the world, both for its practicality and efficiency, as it allows for the acquisition of residence visas in just a few weeks. However, the program may be discontinued in 2025.
This could be your last chance to obtain a residence permit in Spain for you and your family by making investments in the country, such as purchasing real estate.
It is important to highlight that investing in Spain is a unique opportunity for those who wish to become global citizens and move freely within the countries that make up the Schengen Area. With a constantly growing real estate market, there are many investment options that can be strategically directed to yield long-term benefits. Not to mention that the Spain Residency by Investment Program is ranked 7th among 26 programs in the 2023 Global Residence Program Index.
Spain’s Golden Visa program was officially terminated on April 3, 2025, after 12 years in effect. The decision, announced in April 2024 by Prime Minister Pedro Sánchez, aimed to combat the housing crisis and real estate speculation in major cities. The measure was approved by Congress in December and published in the Official State Gazette in January 2025, with a three-month transition period.
Investors who had already applied for the visa were allowed to complete their processes, and those who already held the Spanish Golden Visa retained the right to renew under the previous rules.
The end of the program in Spain follows a trend seen in other European countries. However, the Golden Visa Portugal remains active, and Atlantic Bridge offers full support for investors seeking residency through this program.
Realizing your goal of living in Europe or obtaining European citizenship can be simpler than you think. We offer personalized support to make the immigration process more accessible and uncomplicated.
The Spanish government, led by Pedro Sánchez, announced that the Golden Visa Program in Spain is expected to end in 2025. On November 14, 2024, the Congress of Deputies approved a measure that will now be voted on in the Senate. The proposal is part of the Law for the Efficiency of Justice and eliminates the “Golden Visas” for foreigners wishing to acquire real estate or invest in businesses in the country. However, there are still many issues under negotiation, which could alter the final outcome.
The legal text specifies that investors who submit their visa application before the new legislation comes into effect will be able to continue the process according to the regulations in place at the time of application. Therefore, until the law is formally approved and enacted, applications for the Gold Visa related to real estate purchases, investments in bank deposits, public debt, stocks, investment funds, and projects of general business interest can still be requested and granted.
Although the measure has been approved by Congress, the socialist government faces challenges in the Senate, where the Popular Party (PP) holds the majority. This means that the process may still be affected by political negotiations. If the measure is approved, the elimination of the Golden Visa will be final, and the government’s focus will shift to other forms of attracting investment.
This situation could lead to an increase in visa applications, as many investors are looking to take advantage of the opportunity to obtain a residence permit before the new law comes into force. Therefore, there is still time for interested parties to benefit from the program while it remains in effect — a last call for those looking to invest in Spain before the conditions change.
Something similar happened in October 2023 with the Golden Visa Portugal.
The residence authorization program for non-EU foreigners came into effect in Spain in 2013. Since then, it has granted over 14,500 visas, according to data from the Ministry of Housing. Between 2018 and 2022, foreign millionaires invested more than 4.8 billion euros in real estate in the country. In 2023 alone, the investment exceeded 580 million euros. The real estate option represents 94% of the total. Property acquisitions are primarily concentrated in cities with hot residential markets, such as Madrid, Barcelona, and Valencia.
In terms of the number of Golden Visas, China leads with 1,302 applications, followed by Russia with 521, Iran (124), and the United Kingdom (123).
The Golden Visa Spain is an investment residency program in Spain aimed at non-European citizens, with the aim of attracting investment to the country and heating up the local economy.
It grants to its bearer and family members the authorization to live, work and study in Spain, among other benefits.
O Gold Visa Spain offers different investment options The funds can be directed either to the real estate market, local businesses, government bonds, financial applications or bank deposit. The minimum investment amount is €500K.
Although it is not a Spanish citizenship by investment program, it can lead to obtaining citizenship, as long as the investor meets the country’s residency requirements. See more below.
Get to know also the Non Lucrative Visa, aimed at retirees and passive income earners.
Golden Visa Spain has several eligible investment modalities, with values starting at 500,000 euros. About 95% of the investments made happen in the program’s real estate branch. Check out the available options:
There are options that are subject to the subjective analysis of the Spanish government and have to do with investments aimed at the social and cultural development of the country. The applicant needs to present a business plan to the government, which will decide whether the proposal is of social impact or not. It is worth pointing out that this is a more complex path than it may seem, and although there are no specific predefined values, it is important to keep in mind the benchmark set by the other modalities.
The main requirements for the Golden Visa Spain applicant are as follows:
One detail: a minimum period of residence in Spain is not required to maintain and renew the residence permit and have free access to the Schengen Area.
The Golden Visa Spain allows for family reunification. They can be grouped together with the main applicant:
Another great advantage of the Golden Visa Spain is the fast application processing time of 6 to 9 months.
It offers a residence visa, which can be applied for either in the consulate of the country of origin, or in Spain, as long as the applicant is legally in Spain (for example, to be within the tourist visa period).
In the case of the Golden Visa Spain, both the main applicant and the reunited family members are allowed to work in the country.
To apply for and renew the Spanish residence permit through the Golden Visa Spain, it is necessary to maintain the investment in Spain for 5 years.
For those who wish to obtain Spanish citizenship, it is necessary to legally reside in Spain for 10 years, continuously and immediately prior to the application for nationality. During these 10 years, the individual is required to reside in the country for at least 183 days per year.
However, in some cases, this period is considerably reduced. For Sephardic Jews and their descendants, citizens of Ibero-American countries, Andorra, Equatorial Guinea, Portugal, and the Philippines, the period is reduced to only two years.
In addition, to obtain Spanish citizenship, the candidate must also pass a proficiency exam in Spanish language and general knowledge of the nation.
It is important to note that there is a difference between the permanent residence permit and Spanish citizenship, and that only Spanish citizenship gives access to a Spanish passport.
Spain allows dual citizenship for immigrants from Portugal, Andorra, the Philippines, Equatorial Guinea, and Latin American countries with which it has specific agreements. However, according to the Constitution, immigrants from other nations are required to renounce their previous nationality when acquiring Spanish citizenship and surrender the corresponding passport.
Read also -> Spanish and U.S. Dual Citizenship: Does Spanish Nationality Affect US Status?
In short, the Spanish Golden Visa offers an attractive opportunity for investors interested in residing in Spain and potentially obtaining Spanish citizenship. With its specific benefits and requirements, professional assistance is essential throughout the process.
Atlantic Bridge has a team of qualified and experienced specialists ready to assist and guide investors every step of the way. From selecting the right investment to supporting you in obtaining a visa and complying with legal requirements. We are committed to providing a smooth and successful experience. Contact us today and let us help you take advantage of the opportunities offered by the Spanish Golden Visa.
Author:
Atlantic Bridge
