No More Spanish Golden Visas

We finally have our answer on what will happen to the Spanish Golden Visa options and they will soon be no more. Applications will only be accepted until 03/04/2025!

Sad investor who cannot apply for the Golden Visa in Spain anymore.

While at first, mostly the controversial real estate investment option was discussed, it was now decided to eliminate all of the options for foreigners to get a visa and/or residence and work permit via an investment in Spain.

The Organic Law 1/2025 proceeds to introduce the End of the Golden Visa

and will enter into force on April 3rd 2025.

Organic Law 1/2025, of 2 January, on measures regarding the efficiency of the Public Justice Service renders articles 63 to 67 of Law 14/2013, of 27 September, on support for entrepreneurs and their internationalisation, which regulated the residence visa for investors (also known as the Golden Visa), null and void.

Specifically, these articles of the Entrepreneurs Law allowed non-resident foreigners making a significant capital investment to apply for a stay or residence visa. 

That is:

• Initial investments of €2,000,000 or more in Spanish public debt securities or €1,000,000 in shares in Spanish companies with a real business activity, investment funds, venture capital funds or bank deposits in Spanish financial institutions.

• Acquisitions of real estate in Spain for a value equal to or greater than €500.000

• Business projects in Spanish territory considered to be of general interest.

IMPORTANT:

The abolition of golden visas will not affect visas and authorisations requested prior to the entry into force of the Efficiency Law (3 April 2025).

Those that have been granted will remain valid for the period for which they were issued and renewals will be processed in accordance with the regulations in force at the time they were granted. (DF vigesimoprimera LO 1/2025).

The law states as follows:

"As per Twenty-first final provision.

Amendment of Law 14/2013, of 27 September, on support for entrepreneurs and their internationalisation.

Law 14/2013, of 27 September, on support for entrepreneurs and their internationalisation, is amended as follows:

One. Articles 63, 64, 65, 66 and 67 are left without content.

Two. A new first transitory provision is introduced with the following wording:

‘First transitory provision.

Those investors or family members of investors who, prior to the date of entry into force of this transitional provision, had submitted the corresponding application, may receive the corresponding visa or authorisation in accordance with the regulations in force on the date of submission of the application.

Three. A new second transitional provision is introduced with the following wording:

’Second transitional provision.

Renewals of visas and authorisations for investors for the acquisition of real estate. Visas and authorisations for investors that are valid on the date of entry into force of this transitional provision shall remain valid for the period of time for which they were issued.

In the event that renewal applications are submitted, they shall be processed and resolved in accordance with the regulations in force on the date on which the initial authorisation was granted."

The Thirty-eighth final provision on the Entry into force of this law states that it shall enter into force three months after its publication in the Official State Gazette. That would mean 3 months after the publication on 02/01/2025, the deadline starting on the next day which means that this law will enter into force on 03/04/2025.

This means that until April 3rd 2025, it is still possible to apply for the Golden Visa in Spain and the application will be processed as long as it was submitted before that date!

Get in touch if you have any questions.