Applications for Spanish Golden Visas must be submitted before 3 April 2025, after the Spanish government halted the scheme.
This gives three months for people to purchase a property, as the required minimum investment for the visa is €500,000.
It was announced in April last year that the scheme would end, though the timeframe hasn’t been revealed until now.
Applications that have been submitted but not approved will continue to be processed.
Sean Woolley, managing director of Cloud Nine Spain, said: “It’s important to note, for anyone investing in property to get the Golden Visa before the application deadline, that you need to move quickly to choose and purchase the property.
“The purchase must be finalised before the Golden Visa application can be submitted, and you will typically need 6-8 weeks from choosing the property and making an offer to completing on the sale. This means that you need to aim to find the property and put an offer in this month.
“This news is certainly encouraging anyone who has been considering this visa to get moving and accelerate their search.
“Since the announcement we’ve been inundated with fresh enquiries with budget levels between 500,000 and 1 million, which would qualify for the Golden Visa.
“January is typically a quiet month, which takes time to get moving, but we’ve already seen a 20-30% uplift in leads in January.”
A Golden Visa provides the same rights to the applicant’s partner/spouse and any dependent children under 18 years of age.
The initial residency is for two years, which can then be extended by a further five years if all the original conditions are still met. You can then apply for permanent residency and thereafter citizenship.
Once the Golden Visa scheme ends there will still be other options.
You can be in Spain 90 days out of every 180 days on a tourist visa.
Alternatively, if you want to make the permanent move, you can choose between the lucrative and the non-lucrative visa options, or digital nomad visa if you are working remotely for a company outside of Spain.
