In a pivotal development for investors and those looking to relocate to Spain, the country’s Congress has recently approved a significant amendment to the Golden Visa program. On November 14, 2024, the Congress approved the text of the Organic Law Project, which includes changes that could directly impact the future of the program established under Law 14/2013. This potential shift aims to phase out the Golden Visa program, marking an important turning point for prospective applicants.
What’s Next for the Golden Visa Program?
After being passed in Congress, the law now moves to the Senate. There, it can either be approved, blocked, or amended. The ruling Socialist Party (PSOE) has already indicated that, should the law proceed with little to no changes, they plan to close the program to new applications by March 2025.
While this move could alter the landscape for investors, there is still time for those interested in applying under the current conditions. As of today, the Spain Golden Visa program remains open and fully operational.
Why Is This Change So Important?
The Spain Golden Visa offers non-EU nationals the opportunity to secure residency through significant investments, typically in real estate, business, or government bonds. The program has attracted thousands of applicants, with its relatively straightforward residency requirements.
Should the law proceed as expected, this could be the final chance for those considering the Golden Visa to apply under the existing framework. The closure of the program would likely impact a significant number of applicants who are still in the planning stages.
What Should You Do If You’re Interested in the Golden Visa?
If you are considering applying for the Spain Golden Visa, timing is key. As the law moves closer to final approval, the window to submit applications before changes take effect is shrinking.
To ensure eligibility under the current version of the law, it’s essential to begin the process as soon as possible. This could be your final opportunity to secure a Golden Visa under the current regulations, and it’s important to act swiftly.
Get in Touch with Orience for Your Golden Visa Application
If you are considering applying for the Spain Golden Visa, now is the time to act. Orience is here to help guide you through the process and ensure that your application is completed accurately and on time.
Contact us today to start your application process and secure your future in Spain. Visit www.orience.com to learn more and begin your Golden Visa journey.