April 3, 2025: The Last Call for Spain’s Golden Visa Program
Non-EU nationals looking to secure residency in Spain through the Golden Visa Program are racing against time, with April 3, 2025, marking the final deadline.
This comes after the Spanish Congress of Deputies officially passed legislation in December 2024 to phase out the program. The motion narrowly succeeded, with 177 votes in favor and 170 against, as reported. The decision was later cemented on January 3, 2025, when Spain’s Official State Gazette (BOE) published Organic Law 1/2025, setting the countdown in motion.
The law stipulates a three-month transition period following its publication. During this window, wealthy investors from outside the EU can still capitalize on the program—whether by purchasing property worth €500,000 or more (the most popular option) or choosing other investment routes under the scheme.
A Rollercoaster Legislative Process
The journey to this decision was far from smooth. Initially approved by the Congress of Deputies on November 14, 2024, the bill advanced to the Senate, only to face a dramatic veto on December 2. The proposal then returned to the Congress, where it managed to secure approval in a tense voting session in December.
The plan to dismantle the Golden Visa Program wasn’t a surprise. Back in April 2024, Prime Minister Pedro Sánchez signaled the government’s intent to curb what he described as speculative exploitation of Spain’s housing market. Sánchez emphasized that housing should be treated as a fundamental right, not as a commodity for profit.
During a public address, he stated:
“Tomorrow’s Council of Ministers will review a report from the Minister of Housing and Urban Agenda to amend the 2013 law introduced by the Popular Party. This law, which ties residency visas to housing investments, must be reformed to better reflect the needs of our society.”
The decision to scrap the Golden Visa Program is deeply tied to Spain’s housing crisis. Introduced in 2013, the program initially aimed to attract foreign capital and boost the economy following the financial crash. And while it undeniably brought in significant investment—€657,204 per applicant on average in the first ten months of 2024 alone—it also fueled soaring property prices, making housing increasingly inaccessible to many Spaniards.
By the end of 2024, Spanish authorities had issued 780 golden visas that year, underscoring the program’s popularity. But for the government, the economic gains were no longer worth the strain on local communities struggling with housing shortages and skyrocketing rents.
For investors, the clock is ticking. As of April 3, 2025, the Golden Visa will be history, closing a chapter on a program that shaped Spain’s economic landscape for over a decade. But for locals, the move signals a shift toward reclaiming housing as a right rather than a privilege.