Despite speculation about the imminent closure of Spain’s Golden Visa Program, the real estate investment pathway is still open and accepting applications. Recent developments provide clarity on the legislative timeline and highlight the urgency for investors to act now.
What’s Happening with the Golden Visa Program?
On November 14, 2024, Spain’s Congress of Deputies approved a bill to eliminate the real estate pathway, the program’s most popular option. The government cites its role in driving up property prices in cities like Madrid, Barcelona, Málaga, and Valencia as a key reason for the change.
The proposed changes to eliminate the real estate investment route have passed Spain’s Congress and are now under review by the Senate. The Senate, controlled by the ruling party, has indicated it may vote against completely terminating the program.
However, if the Senate approves the termination, the process will involve:
- Senate Vote and Publication: The law will be published within days of the Senate’s approval.
- Three-Month Transition Period: By law, any changes will take effect three months after publication.
This means the earliest likely closure of the program would be mid-March 2025.
While the focus is on abolishing the real estate route, the bill does not address alternative investment pathways like business development or capital transfers. Their future remains unclear, leaving potential investors waiting for more guidance.
Current Status of the Program
- Applications are still being accepted for the real estate investment route.
- Investors can submit their applications under current rules until the law is published and the three-month transition period expires.
- Residential property purchases must be selected and funded by the end of 2024, while commercial property deals have until January 2025.
What’s Driving the Urgency?
The real estate pathway has been the program’s most popular option, enabling investors to acquire Spanish Residences by Investment by purchasing property worth at least €500,000. Recent announcements underscore the need for swift action:
- If the program closes, applications submitted after the effective date will no longer qualify.
- The window for onboarding new clients may end as early as March 2025.
Key Dates to Remember
- End of 2024: Residential property purchases must be finalized.
- End of January 2025: Deadline for commercial property investments.
- March 2025: Likely final closure of the program if termination proceeds.
Conclusion: Act Now to Secure Your Spain Golden Visa
The Spain Golden Visa Program remains open for now, but time is running out. With critical deadlines fast approaching, prospective investors must act immediately to secure their residence through the real estate pathway.
Contact us today to start your application and finalize your investment before it’s too late.
Back to News 
