Madrid, Spain – Recent reports reveal that more than 33,200 foreigners currently hold Spanish residency permits under the Golden Visa program, underscoring the scheme’s significant role in attracting international investment. As Spain prepares to terminate the program in April 2025, the latest figures highlight the program’s popularity among high-net-worth individuals, particularly from China, Russia, and the United States.
The Golden Visa program, introduced in 2013, allows non-EU nationals to obtain residency by investing at least €500,000 in Spanish real estate or by making substantial investments in business ventures or public debt. While the program has generated billions of euros for the economy, concerns over its impact on housing affordability and urban development have led to the government’s decision to phase it out.
Who Holds Spanish Golden Visas?
According to official data, Chinese investors make up the largest share of Golden Visa holders, followed by Russian and American citizens. In recent years, there has been a notable rise in applications from U.S. nationals seeking a European residency option amid domestic uncertainties.
Most Golden Visa holders have opted to invest in major cities such as Madrid, Barcelona, and Valencia, as well as luxury coastal areas like Marbella and Costa Brava. These regions have experienced sustained demand for high-value properties due to the program’s appeal.
Economic Impact of the Golden Visa Program
Since its inception, the Golden Visa program has generated billions of euros in real estate investments, contributing to economic growth and job creation in the construction and service sectors. However, critics argue that the influx of foreign capital has led to soaring property prices, making housing unaffordable for many locals.
The Spanish government’s decision to terminate the program aims to address this housing crisis by curbing speculative real estate purchases.
What’s Next for Golden Visa Holders?
Current Golden Visa holders will retain their residency rights after the program ends, provided they continue to meet the program’s conditions. However, no new applications will be accepted after April 2025.
For potential investors still considering Spanish residency, time is running out to secure a Golden Visa before the deadline. Real estate agents report a surge in property sales as high-net-worth individuals rush to finalize their investments before the program closes.
Alternatives for Future Investors
With the Golden Visa program nearing its end, prospective investors are exploring alternative options:
•Spain’s Digital Nomad Visa: Allows remote workers to live and work in Spain for extended periods without major capital investments.
•Entrepreneur Visa: Designed for those looking to launch innovative businesses in Spain.
Additionally, countries such as Portugal, Greece, and Italy continue to offer residency-by-investment schemes for investors seeking EU residency.
The data showing over 33,200 Golden Visa holders reflects the program’s role in shaping Spain’s real estate market and foreign investment landscape. As the April 2025 deadline approaches, Spain’s Golden Visa program is experiencing a final surge in interest, cementing its legacy as one of Europe’s most popular residency-by-investment schemes. While the program’s closure addresses housing concerns, it leaves questions about how Spain will continue to attract high-value foreign investments moving forward.
