SPAIN HAS OFFICIALLY ENDED THE GOLDEN VISA

https://travellerscafe.co.uk/how-to-apply-various-types-of-visa/Spain has officially ended its “Golden visa”, which granted residency to non-EU investors meeting specific financial criteria. This move aligns Spain with countries like UK, Canada, Portugal,Hungary, the Netherlands,Mexico and India, which have previously terminated similar programs. The decision aims to address concerns about housing affordability and market speculation. Notably, individuals who obtained residency through the program before its termination will retain their status. 

• These decisions come in response to growing concerns about security risks, and the potential for these programs to exacerbate housing crises and inflate real estate prices, making housing unaffordable for local residents. 
• Spain’s termination of the program aligns with these global trends, as more nations reevaluate the long -term impact of the Global Visa program on their local economics and housing markets. 
• As of April 3,2025, officially ended its golden visa program, following in the footsteps of other countries such as the UK,Canada,Portugal,Hungary,Netherland,Mexico, and India. As of April 3,2025.

A Global Trend

Spain’s decision to end its Golden Visa program follows similar actions taken by other countries that have either closed or reformed their programs due to concerns over housing affordability and the broader impact on local economies. Here’s how other nations have responded:
United Kingdom: The UK terminated its Tier 1 (Investor) visa program in February 2022, citing concerns over financial crime risks and the limited economic benefits of the program. This decision was part of a larger effort to reevaluate immigration policies and prioritize the attraction of skilled workers.

CANADA

Canada suspended its federal Immigrant Investor Program in 2014, due to concerns about its effectiveness in benefiting the Canadian economy and its negative impact on the housing market. The Quebec provincial program was also paused between 2019 and 2024, and it only reopened with stricter investment requirements to ensure better control over its effects.

PORTUGAL

In October 2023, Portugal removed real estate investment as a basis for golden visa applications. This reform aimed to curb property speculation and address the growing concerns over housing affordability in cities like Lisbon and Porto, where foreign investment had significantly inflated property prices.

HUNGARY

Hungary ended the real estate investment option in its Guest Investor Program (GIP) in January 2025. This move reflects Europe’s evolving approach to investment migration, as concerns over the impact of foreign capital on local property markets have grown.

NETHERLAND

The Netherlands formally closed its Golden Visa program on January 1, 2024. This decision was based on concerns about the program’s effectiveness and its role in driving up housing costs in major cities like Amsterdam, where the local housing market was being increasingly influenced by foreign investment.

MEXICO

Although Mexico does not have a formal Golden Visa program, the country has seen growing scrutiny over residency programs that offer investments in real estate as a path to permanent residency. As foreign interest in Mexican real estate increases, there have been calls to reevaluate such programs due to their effect on local housing markets.

INDIA

India does not offer a Golden Visa program but has experienced growing debate over the impact of foreign investment in real estate, especially in cities like Mumbai and Delhi, where property prices have skyrocketed. Though India does not have an official Golden Visa, the concern around foreign investment in housing is similar to the trends seen in other countries.

Spain’s termination of its Golden Visa program is part of this growing global trend, as countries increasingly focus on policies that promote housing affordability and ensure that local communities are not disadvantaged by speculative foreign investment.

The End of the Golden Visa: What’s Next?

Spain’s decision to end the Golden Visa program reflects broader trends in Europe and beyond, where countries are increasingly reevaluating the long-term consequences of investment migration programs. These policies were originally designed to attract foreign capital, but as the housing market becomes a more pressing issue for citizens, governments are finding it necessary to take action to ensure that housing remains accessible to local populations.

The closure of the Golden Visa program also marks a shift in Spain’s immigration policy, which is likely to focus more on attracting skilled professionals and entrepreneurs rather than relying on large-scale real estate investments.

For investors looking for residency options through investment, the closure of Spain’s Golden Visa program leaves them with fewer opportunities in Europe. While countries like Portugal and Hungary have already made significant changes to their own golden visa programs, Spain’s decision is a clear signal that the era of unrestricted investment-driven residency is winding down in many European nations.Spain ended its Golden Visa program on April 3, 2025, following the lead of the UK, Canada, Portugal, Hungary, the Netherlands, Mexico, and India. These countries have discontinued their programs due to concerns about security risks, and the impact of foreign investment on housing crises, making homes unaffordable for local residents.