- 5 February, 2025
- Category: Legal
On January 2, the Official State Gazette (BOE) published Organic Law 1/2025, which introduces measures to improve the efficiency of the Public Justice Service. Among other changes, this reform brings the elimination of the Golden Visa program, rendering Articles 63 to 67 of Law 14/2013, dated September 27, ineffective. These articles previously regulated residency visas for investors, known as Golden Visas.
The new legislation establishes a transitional period of three months, ending on April 3, 2025. During this time, investors will still be able to apply for these permits, provided they meet the requirements and complete the process before the deadline.
Golden Visas were introduced in Spain in 2013, allowing foreign investors to obtain residency through a minimum investment of €500,000 in real estate or other types of investments outlined in Law 14/2013. For more than a decade, this program served as a key tool in attracting foreign investment, boosting sectors such as real estate, tourism, and business, and positioning Spain as an attractive destination for non-EU citizens.
The program had a significant impact on areas such as the Costa Blanca, Catalonia, the Balearic Islands, and other coastal regions. However, its elimination reflects a shift in legislative priorities, aiming to ease pressure on the housing market and promote more equitable access to housing. This modification also affects other types of investment-based permits covered under Law 14/2013, not just those related to real estate.
It is important to note that investors who already hold a Golden Visa will be able to maintain and renew it, as long as they continue to meet the established requirements.
The international mobility team at Grupo JDA is available to answer any questions regarding this regulation and provide personalized advice.