The entry into force of the final provision that eliminates the Golden Visa will come into force 3 months after its publication in the Official State Gazette (BOE). This publication took place the 3rd of January. Therefore, it is necessary to apply for the Golden Visa before 3 April 2025 for those who wish to benefit from it.
THE END OF THE GOLDEN VISA IN SPAIN
Thanks to the residence permit for investors, the so-called Golden Visa allows foreigners to obtain residence, with a number of advantages over other types of residence permits.
However, last April, the government announced that it would abolish the residence permit for investors.
For this reason, an amendment has been introduced in the Draft Organic Law on measures regarding the efficiency of the Public Justice Service and collective actions for the protection and defence of the rights and interests of consumers and users for the efficiency of justice, thus adding the Sixteenth Final Provision bis. According to this final provision, articles 63 to 67 of Law 14/2013, of 27th September, on support for entrepreneurs and their internationalisation, which currently regulates Golden Visa, would be abolish.
The draft Organic Law was approved by Congress on 14th November 2024, ratified by the Senate afterwards and published in the Official State Gazette (BOE) the 3rd of January 2025.
The Golden Visa transitional regime would therefore be as follows:
- Applications submitted prior to the entry into force of the law (April 3, 2025) may be endorsed in accordance with the regulations in force on the date of submission of the application.
- Visas for investors valid on the date of entry into force of this transitional provision shall remain valid for the period for which they were issued.
- Finally, in the case of renewals of visas for the acquisition of real estate already granted, they will be processed and resolved in accordance with the regulation in force on the date the initial authorisation was granted.
The provision on the abolition of the Golden Visa will enter into force three months after its publication in the State Gazette and that means it is necessary to apply for the Golden Visa before 3 April 2025 for those who wish to get it and enjoy its benefits.
Marbella, 9th January 2025
