Yesterday, the Spanish government announced plans to phase out the Golden Visa Programme, significantly impacting foreign investors seeking residency in Spain through real estate investment. The decision comes as part of broader housing market reforms aimed at prioritising accessibility for local residents. Coates Global examines the implications of this policy shift for investors and alternative options within Europe.

Reasons Behind Spain’s Golden Visa Withdrawal

The Spanish government cited several key reasons for discontinuing the programme:

• Housing Market Pressure – Increased foreign investment in Spanish real estate has driven up property prices, making homeownership less accessible for local buyers.
• Shift in Immigration Policy – The government aims to focus on skilled migration and economic contributions beyond property acquisitions.
• Alignment with EU Migration Trends – Spain follows other European nations, such as Ireland, in scaling back investment-based residency schemes.

Impact on Existing and New Applicants

The Spanish government confirmed that the programme will be officially phased out in April 2025, allowing investors a transition period to finalise applications. The phase-out of the Golden Visa Programme introduces several critical considerations:

• Existing Golden Visa Holders – Current visa holders will likely retain their residency rights, but renewal criteria may become stricter.
• Pending Applications – Investors with applications in progress are advised to seek legal guidance on transitional policies and deadlines.
• Final Investment Opportunities – Those considering Spain’s Golden Visa should act promptly before the programme officially closes.

Alternative Residency Programmes in Europe

While Spain’s programme is coming to an end, investors still have several attractive European residency options:

• Portugal Golden Visa – Offers residency through investments in innovation, sustainability, and cultural projects.
• Greece Golden Visa – Allows investors to obtain residency through real estate and business investments with a low entry threshold.
• Malta Permanent Residency Programme – Provides EU residency through government contributions and investment in property or bonds.

Coates Global: Your Guide to European Residency

As Spain phases out its Golden Visa Programme, Coates Global assists investors in exploring alternative residency options that align with their financial and personal goals. Our expert team ensures a seamless transition to other investment-friendly destinations.

Contact Coates Global today for personalised advice on European residency programmes.