Today, January 3, 2025, the Official State Gazette (BOE) has published Organic Law 1/2025, dated January 2, on measures for the efficiency of the Public Justice Service.
This law includes, in its Twenty-First Final Provision, an amendment to Law 14/2013, of September 27, on support for entrepreneurs and their internationalization. This amendment entails the elimination of Articles 63 to 67, effectively abolishing all residence permits based on investment in Spain, commonly known as Golden Visa, in all its forms (real estate investments, investment funds, etc.).
Effective Date: April 3, 2025
The provisions of Law 1/2025 concerning the Golden Visa will come into effect three months after its publication in the Official State Gazette, specifically on April 3, 2025.
Can applications for residence permits based on investment still be submitted?
Absolutely, yes.
Since the abolition of the Golden Visa will not come into effect until April 3, 2025, all applications submitted before this date will be processed in accordance with the regulations in force prior to Organic Law 1/2025. Therefore, investors intending to invest in Spain to obtain a residence permit still have time to submit their applications.
What will happen after April 3, 2025?
Individuals wishing to obtain a residence permit in Spain will no longer have the option of applying through investment. However, there are other legal alternatives, such as non-lucrative residence permits, which can be an excellent option.
At ARC Legal, we will analyze your specific situation to offer you the best legal advice and help you establish yourself in Spain.