On April 8, 2024, the Prime Minister of Spain, Pedro Sanchez, announced that Spain will end the “Golden Visa” program that grants residency rights to foreigners who make a minimum investment of 500,000 euros in real estate in the country.
If you are interested in this Golden Visa program but have not yet purchased a property in Spain, the question is when this new law will come into effect and no new visas will be granted.
As always, when a new law is announced or there is a plan to repeal one, it needs to follow a process that can take some months: from its approval in the Council of Ministers, facing the opposition and then being sent to the Parliament and Congress, who give the final approval, the average time is around 5 months.
Therefore, there is still a window of opportunity for people who wish to obtain the Spanish residency and all its benefits by investing in real estate. If you are interested and do not know our services yet, book an appointment with one of our advisors who will study your case and give you a recommendation to find a solution as soon as possible.
Whether you come to Spain for 2 or 3 days to organize visits and select the house, or you give us a power of attorney that can be obtained at the Spanish embassy in your country, we will represent you in the whole process of buying a house. The whole process, from selection to purchase and registration, can take less than a month.
If you would like to learn more about the Spanish Golden Visa, download our Golden Visa Guide to solve all your doubts.