In December 2024, Spain's Congress of Deputies approved the Golden Visa program, with the proposal passing 177 votes in favor and 170 against. This information was given in a news report of Shenzhen News.
On January 3, 2025, Spain's Official State Gazette (BOE) published Organic Law 1/2025, officially confirming the abolition of the program. The law insists that the decision shall take effect three months after its publication in the official state gazette.
This means that wealthy investors from countries outside the EU will be eligible to buy a property worth €500,000 or more in exchange for a Golden Visa, the most famous option in the programme, or choose other options in the scheme until April. 3, 2025.
The Spanish Senate vetoed the bill on December 2. After being approved by the Spanish Congress of Deputies in December 2024, the Spanish authorities have announced that the new decision is ready to be published in the Official State Gazette (BOE).
First, the rule was approved by Spain's Congress of Deputies on November 14 and then proceeded to the plenary process to reach the Senate. But on December 2, 2024, the Spanish Senate vetoed the bill that would have abolished the Golden Visa program.
In April 2024, Spanish authorities announced plans to end the Golden Visa program, with President Pedro Sánchez stressing that his country would take all necessary measures to ensure that housing is not a mere speculative business but a right.