Golden Visa Changes in Spain – What You Need to KnowFebruary 5, 2025

For years, Spain’s Golden Visa program has been a gateway for non-EU buyers looking to invest in property and secure residency. However, recent headlines have suggested that the Spanish government is considering ending this scheme by April 2025.

What is the Golden Visa?

The Golden Visa allows non-EU nationals to gain residency in Spain through qualifying investments, such as purchasing real estate valued at €500,000 or more. The program offers numerous benefits, including:

1. Residency for the applicant and immediate family
2. Access to Spain’s public healthcare and education
3. Visa-free travel across 27 European countries
4. Pathway to permanent residency and citizenship

Criteria for the Golden Visa

To qualify for a Golden Visa in Spain, applicants must meet the following requirements:

1. Purchase real estate valued at a minimum of €500,000 (excluding taxes and fees)
2. Maintain the investment for at least five years
3. Have a clean criminal record in Spain and in any country of residence for the past five years
4. Obtain private health insurance valid in Spain
5. Provide proof of sufficient financial means to support themselves and any dependents
6. Not have previously been refused entry into the Schengen Zone

Application and Approval Process

1. Select and Purchase a Property – Find and buy real estate meeting the €500,000 requirement.
2. Gather Required Documents – Obtain proof of investment, criminal record clearance, health insurance, and financial means.
3. Submit Application – File the application online or at the nearest Spanish consulate.
4. Approval & Residency Card Issuance – If approved, the applicant receives a one-year visa, extendable to a two-year residency permit.
5. Renew Residency Permit – The permit is renewable every five years as long as the investment is maintained.
6. Path to Permanent Residency & Citizenship – After five years, applicants can apply for permanent residency; after ten years, they may be eligible for Spanish citizenship (subject to conditions).

The deadline to apply for the Golden Visa is now April 3, 2025, but we recommend doing so before the end of February to ensure timely submission.

Our Take

If you own a home and want to apply please get in touch so we can help you get it complete the process before the deadline.

If you are seeking a Golden Visa but have not bought, you may need to explore other options like putting the money in a Spanish account so that you can be in time before the proposed close in April.

Our team is here to guide you through every step, ensuring a smooth and informed purchase process. If you’re thinking about investing in a home in the Mallorca or Ibiza, reach out to us – let’s find your place to call home.