The End of Spain's Golden Visa Program

The Spanish Government has officially announced the conclusion of the Golden Visa program, a significant move set to reshape the landscape for foreign real estate investors and applicants. Here are the key details:

• Ending of Residency Permits: The initiative, first introduced in 2013 under Rajoy's government, will cease granting residency for investments of 500,000 euros or more.
• Final Applications: Those applying before the new regulation takes effect in April will still be eligible to obtain their visa.
• Official Publication: The termination law was published in the BOE on January 3, 2023, and will be enforced starting April 2025.

This decision marks the end of a policy aimed at attracting foreign investment post the severe Eurozone crisis which notably affected the Spanish real estate market. President Pedro Sánchez emphasized the commitment to recognizing access to affordable housing as a fundamental right rather than a speculative opportunity. Despite the discontinuation, existing visa holders can continue to renew and maintain their status until expiration.

Katya Moshnikova from Urbane International Real Estate reflects on the program's impact, noting that although the number of beneficiaries—just over 22,000 in 11 years—may seem small relative to the total market volume, the Golden Visa has been the simplest path to residency for many investors. Notably, it allows investors to work in Spain without becoming tax residents.

As the program winds down, there remains a brief window for potential applicants. Urbane International Real Estate stands ready to guide investors through their applications, leveraging over 35 years of experience in managing more than 100 Golden Visa cases.

Call to Action: For those looking to secure their Spanish residency, now is the time to act. Take advantage of the closing window to benefit from the Golden Visa program.

Hashtags: #GoldenVisaSpain #SpanishRealEstate #InvestInSpain #ResidencyByInvestment #EuropeanResidency #RealEstateInvestment #EndOfAnEra