- Program End Date: Spain’s Golden Visa Program will officially conclude on April 3, 2025.
- Law Announcement: The termination was confirmed in Spain’s Official State Gazette (BOE) on January 3, 2025.
- Program History: Launched in 2013, the program offered residency in exchange for investment, with a focus on real estate.
- Housing Crisis Solution: The decision aims to address Spain’s housing crisis by curbing speculative property investments.
- Economic Impact: Despite economic contributions, the program faced criticism for exacerbating housing inequality.
- Final Applications: Non-EU nationals can apply until April 3, provided they meet investment thresholds.
- Legislative Journey: The proposal passed Spain’s Congress in December 2024 but initially faced Senate vetoes.
- Program Popularity: By October 2024, Spain had granted 780 golden visas, averaging €657,204 investment per applicant.
- Prime Minister’s Statement: Pedro Sánchez emphasized housing as a right, not a speculative business.
- Future Outlook: The abolishment reflects a growing EU trend to phase out golden visas over ethical concerns.
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