The Golden Visa Program was adopted by Spain's Congress of Deputies in December 2024, with 177 votes in support and 170 against Schengen.There have been news reports.
Organic Law 1/2025, issued in Spain's Official State Gazette (BOE) on January 3, 2025, confirmed the program's abolition.
The law emphasizes that the judgment will take effect three months after it is published in the Official State Gazette.
Organic Law 1/2025, issued in Spain's Official State Gazette (BOE) on January 3, 2025, confirmed the program's abolition.
The law emphasizes that the judgment will take effect three months after it is published in the Official State Gazette.
This implies that affluent investors from non-EU nations will be able to acquire a property for €500,000 or more in return for receiving a golden visa, the most well-known option of this program, or other choices available until April 3, 2025.
On December 2, the Spanish Senate rejected the bill.
The legislation was initially passed by Spain's Congress of Deputies on November 14 and then advanced via the plenary procedure to the Senate. However, on December 2, 2024, the Spanish Senate vetoed a bill that would eliminate the Golden Visa Program.
In April 2024, Spanish officials announced plans to end the Golden Visa Program, with the President of the Government, Pedro Sanchez, emphasizing that his nation will take all necessary efforts to guarantee that housing is not a speculative business but a right.
I would like to inform that tomorrow's Council of Ministers will consider a recommendation made by the Minister of Housing and Urban Agenda to amend the Law, which was enacted by the Popular Party in 2013, and permits you to receive a residency visa if you invest in housing in our nation.
Pedro Sanchez, Spain's prime minister.
Removal of Golden Visa Program Linked to Housing Crisis.
Spain's decision to stop its Golden Visa Program comes in an effort to better manage the country's housing issue.
The Golden Visa Program of Spain, which was launched in 2013, has made a substantial contribution to the country's economy.
Following approval by the Spanish Congress of Deputies in December 2024, Spanish officials declared that the revised decision was ready for publication in the Official State Gazette (BOE).
In the first 10 months of 2024 alone, Spanish officials issued 780 golden visas, with an average investment of €657,204 per application.
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