Residency by investment programs remain popular in Europe, but the country is now moving away from this model with the elimination of the Golden Visa.
The program Golden Visa has been one of the main means for foreign investors to obtain residency in Spain since its implementation in 2013. However, as of January 2025, this option will cease to existfollowing the decision of the Spanish government to close the project. This measure has surprised many, since this alternative became an accessible way to obtain European residency in exchange for investment.
The closure of this availability brings an end to an era in which Spain stood out for offering a residence permit to those who made certain investments in the country. Despite this news, interested investors still have the opportunity to benefit from permits that are granted before the deadline.
Golden Visa, among the most chosen programs in Europe
The Golden Visa program was one of the most successful initiatives in terms of attracting foreign capital. Since its creation, thousands of people from outside the European Union have opted for this residence permit in exchange for making investments in various sectors of the country. Most applicants were interested in purchasing property, a sector that saw a boom due to the arrival of these investors. The ease it offered to live, work and travel around Europe, along with the opportunity to obtain long-term Spanish citizenship, consolidated this alternative as one of the most coveted options.
Over the years, Spain has been one of the most attractive destinations for this type of proposal. The country not only offered access to the Schengen area, but also quality living in world-renowned cities such as Madrid and Barcelona, allowing it to remain at the top of the list of European countries with increased Golden Visa applications.
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Golden Visa investment options
To obtain this document, applicants had to meet one of several investment options. Among the most popular was the purchase of real estate, which required a minimum investment of 500,000 euros. This type of bet was very attractive for those interested in settling in Spain long term, since they could acquire both residential and commercial properties in various areas of the region. Furthermore, those with greater financial interests could choose to invest in capital, reaching a minimum amount of 1 million euros in shares or bank deposits.
Another alternative was to invest in business projects that favor local economic development, such as job creation, social impact or scientific innovations. This option also allowed many businessmen and entrepreneurs to obtain residency while contributing to the growth of the country.
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Is it still possible to apply for the Golden Visa?
Despite the announced elimination of the program in 2025, interested parties They can still apply for the Golden Visa until that date. In fact, there has been a significant increase in applications, as many investors see this measure as an opportunity to secure their residency in Europe before the possibility runs out. Besides, Applications submitted before the deadline will continue to be processed in accordance with current legislation from 2013, allowing beneficiaries to maintain the acquired permits.
Although the proposal will close soon, investors who already have a Golden Visa will not be affected. Renewals and extensions will continue to be managed under the initial conditions, providing stability to those who have already invested in the country.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
