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The Spanish Golden Visa has long been a popular residency pathway for non-EU citizens seeking the lifestyle, investment opportunities, and strategic advantages of living in Spain. Introduced in 2013, the visa has attracted thousands of investors by offering a straightforward route to residency with relatively few requirements. However, with the recent announcement from the Spanish government, the Golden Visa program is set to end in January 2025, adding urgency for those considering this route to act now.

For those unfamiliar, the Spanish Golden Visa is a residency-by-investment program available to individuals who invest €500,000 or more in Spanish real estate. This investment can span various types of property—apartments, villas, commercial spaces, or land—and can be spread across multiple properties. Investments made since 2013 are eligible, meaning those who have already acquired property may still qualify.

The Golden Visa is particularly appealing because it extends to close family members, offering residency rights to spouses, children, and dependent parents. In addition, it provides significant freedoms for those who don’t intend to live in Spain full-time. There is no need to become a Spanish tax resident; by spending fewer than 183 days a year in Spain, you can maintain tax residency elsewhere.

Golden Visa holders enjoy the added benefit of unrestricted travel across the Schengen Area, allowing up to 90 days of stay in any 180-day period in Schengen countries without needing additional visas. For those who value flexibility and mobility, this can make Spain an ideal base for European travel.

Unlike the Non-Lucrative Visa, which requires holders to reside in Spain for most of the year, the Golden Visa demands only an annual visit to Spain to maintain residency status. This is an ideal solution for investors or those with multiple residences who prefer to split their time between countries without risking their residency in Spain.

With the program’s termination on the horizon, however, there are pressing reasons to act. The government’s decision to end the Golden Visa is part of a broader effort aimed at addressing housing affordability, as they believe foreign investors have significantly driven up property prices. However, with only around 10,000 Golden Visas issued between 2013 and 2023, this influence is debatable. In reality, Golden Visa investors often contribute positively to the economy through property purchases, job creation, and spending on goods and services.

If you’re considering securing Spanish residency through the Golden Visa, now is the time. The January 2025 deadline is fast approaching, and waiting may mean missing out on this unique opportunity. For those who have already invested in Spanish property since 2013, applying now is still an option before the window closes.

The end of the Golden Visa marks the conclusion of an era for non-EU investors and expats. Don’t miss your chance to take advantage of this valuable program. Contact us today at Salvador Tax & Legal to discuss your plans, and let our team of experts help secure your residency before this opportunity ends

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