Last call for Golden Visa Investors
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Last call for Golden Visa Investors

Giorgio Guarneri
09/01/2025
Close-up photo of a paper or document with a section of an official immigration stamp visible. The background is a textured, light purple surface. The stamp's details and text are partially blurred, focusing mainly on the word "IMMIGRATION.

On January 3, through the Law 1/2025, of January 2, on measures to improve the Efficiency of the Public Justice Service, published in the Official State Gazette (BOE), the Golden Visa program has been eliminated.

This legislative change represents a significant shift in Spain's residency policy for investors, and it will enter into force three months after its publication in the BOE. Until then, applications can still be submitted under the existing regulations.

This program, introduced by Law 14/2013, of September 27, to support entrepreneurs and their internationalization, offered residency to investors through various forms of investment in Spain. The new law ends all these modalities, including real estate investments, bank deposits, the purchase of shares, government bonds, and other similar options.

Important aspects to highlight:

1. Applications before the new law enters into force:

  • Any applications submitted before the effective date of the new legislation (expected to be April 2025) will continue to be processed under the framework of Law 14/2013.
  • Authorizations already granted and those in process at the time of enforcement will not be affected by the new regulation.

2. Validity and renewal of existing Golden Visas:

  • Permits already issued remain valid and renewable under the conditions of Law 14/2013.
  • Holders of these visas are not subject to the new restrictions and may continue their residency and renew their permits as usual.

Transitional provisions:

  • The law includes a transitional regime that safeguards the rights of individuals who: 
    • Have obtained a Golden Visa prior to the enforcement of the new legislation.
    • Have submitted their application before the law enters into force.
  • These protections ensure that pending applications and existing permits will not be subjected to the new rules.

Timeline for the elimination:

  • The law, published on January 3, 2025, in the BOE, will come into effect three months later, in April 2025.

  • Until that date, investors may still apply for the Golden Visa under the current regulations.