The Official End of the Golden Visa Scheme

The law to abolish the Golden Visa in Spain for investors was passed at Spanish Parliament two weeks ago, and it is official that the scheme will definitively be coming to an end within the next 3-5 months.

The ultimate decision for the when the visa will be scrapped will be published in the official government bulletin on or before the 31st of December 2024. It is most likely that there will be a notice period of at least 20 days to three months given, which would mean the disappearance of this regime by the end of March 2025 at the latest.

All investment elements that fall within the Golden Visa will be eliminated, not just the purchase of real estate with a minimum value of €500,000. This includes the purchase of public debt, the injection of capital into local companies and the financing of investment funds and business projects. Spain will be giving up a source of financing that benefits both the public and private sectors.

The reason for doing so is due to a significant change in Spain's migration and economic policy. This measure seeks to curb the negative impact on access to housing and to align with European concerns regarding security and financial transparency.

This decision will affect those of you who are considering investing either privately or commercially in Spain and we advise you to consider your options now. The Golden Visa is still currently open for applications and will be available until it is phased out.

At Nockolds Lawyers Spain, our expert team can help you with the correct approach and obtaining a Golden Visa quickly. We can also help you with any advice as to whether you think you qualify or not, or whether you would meet the given deadlines.