From January 1, 2025, Spain plans to close the golden visa program

The Spanish government has announced plans to close the golden visa program on January 1, 2025, proposing a new bill that would eliminate the existing immigration scheme. After an unsuccessful attempt to amend land legislation for this purpose, the Socialist Workers' Party of Spain (PSOE) and its allies found another way to abolish the program by proposing amendments to the law on justice and consumer protection.

These amendments provide for the repeal of articles 63-67 of the Law 14/2013 on the support of entrepreneurs, which set out the criteria for participation in the Golden visa program. The amendments have already been approved by the Justice Committee, but the further fate of the bill depends on the upcoming discussions in Congress and the Senate. If both chambers agree, the changes will take effect from the beginning of next year.

The proposal provoked resistance from the opposition parties "People's Party" and "Golos", which intend to keep the program. In case of final approval of the new regulations, applications already submitted before the law came into force will remain valid and will not fall under the new regulation.