Latest / IMI Podcasts / Spain Closes Golden Visa, Sets Transitional Period
Transcript
- 0:00SPEAKER_00: Spain's Official State Gazette, also known as BOE, has published Organic Law, one of twenty twenty-five on January 3rd, confirming the termination of the country's golden visa program.
- 0:10SPEAKER_00: The law stipulates it will enter into force three months after its publication in the Official State Gazette, marking April 3, 2025, as the final deadline for new applications.
- 0:22SPEAKER_00: King Felipe VI signed the legislation which repeals Articles 63 through 67 from Law 14 of 2013, the legal framework that had established Spain's Golden Visa Framework in 2013.
- 0:34SPEAKER_00: The BOE text guarantees protection for existing applicants.
- 0:38SPEAKER_00: Investors or family members of investors who submit their complete applications before the deadline in April, quote, may receive the visa or authorization in accordance with the regulations in force on the date of submission of the application, end quote.
- 0:53SPEAKER_00: Current golden visa holders will also retain their rights.
- 0:57SPEAKER_00: The BOE confirms that, quote, visas and authorizations for investors through real estate acquisition that are valid on the date this transitional provision enters into force, end quote, will maintain their validity for the period for which they were issued.
- 1:11SPEAKER_00: Prime Minister Pedro Sanchez began pushing for the program's closure in April 2024, citing housing market inflation and potential security risks.
- 1:21SPEAKER_00: The Senate's Popular Party majority temporarily halted progress through a December 2nd veto, but Congress overrode the opposition as 177 members voted for closure and 170 voted against.
- 1:37SPEAKER_00: This episode first appeared as an article by Ahmed Abbas on IMIDaily.com.
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