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Golden visas in Spain could be cancelled as soon as January 2025
The Spanish government is advancing legal steps to end the property-based investment residency for non-EU nationals
Spain’s government has taken significant steps toward cancelling its golden visa programme, setting a potential end date of January 2025.
The scheme currently grants residency to non-EU nationals who invest at least 500,000 euros in Spanish property or make large investments, such as 1 million euros in Spanish shares or 2 million euros in government bonds.
The scheme’s critics argue that it drives up property prices, making housing less affordable for locals, though opponents of the cancellation say it won’t significantly impact Spain’s housing market and accuse the government of political posturing.
Spain’s Prime Minister Pedro Sánchez initially announced plans to end golden visas in April 2023, but passing the legislation faced delays due to opposition and a fragile coalition majority.
The government recently attached the cancellation as an amendment to a broader judicial efficiency law, which passed a Justice Committee vote on October 30 despite resistance from the opposition Partido Popular and Vox. The bill now proceeds to Spain’s Congress and Senate for debate.
If approved, the change would apply only to new applicants from January 2025 onward. Existing golden visa holders and those who apply before the law comes into force would retain their residency rights.
For now, then, there is no assurance that the Golden visa scheme will be scrapped as soon as January 2025, and it is still possible for non-EU nationals wanting Spanish residency to gain it using this investment avenue.
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Heniam & Associates for Conveyancing, paperwork, legal advice and immigration throughout the Region of Murcia
Catering for the needs of expats living all over Spain, and particularly in the Costa Cálida and the Costa Blanca, Heniam & Associates offer a wide range of services including conveyancing, legal and administrative advice.
At the same time, their team of dedicated professionals appreciate the need to assist you in an easy and reliable manner, allowing you as much time as possible to enjoy your freedom, relax and make the most out of life in Spain. Without sacrificing efficiency, they offer personalised services to each and every client, listening to their needs in order to provide exactly the right service and desired outcome.
In the all-important field of Legal and Administrative Services, Heniam & Associates provide help in a wide range of matters including (but not limited to):
- Conveyancing
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- NIE and TIE Applications
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- Professional will writing services and advice on intestate inheritance laws (both in the UK and in Spain)
- Contract drafting (for businesses and individuals)
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Whether taking advantage of our conveyancing services or any other legal matter Heniam & Associates’ business partner HeniamLegal will represent you in the best possible way, excelling especially in their conveyancing service.
When buying a property in a foreign country it can be challenging to understand all of the
steps that have to be taken. Heniam knows that buying a home can be stressful and
they want to ensure that you have the resources that you need to make sure that the
transaction is as smooth as possible so that you can start to enjoy your new home without worrying about the details and any purchase pitfalls.
HeniamLegal will be on hand to assist you with every part of the process. They have
dedicated professionals on hand to assist you every step of the way ensuring that all
of the relevant checks and investigations are carried out and, of course, negotiating on your behalf and protecting your interests. You will always have the support you need with HeniamLegal and Heniam & Associates.
In addition, translation services are provided either for written documents or for occasions such as visits to the doctor or to administrative offices, and assistance is provided in finding the best deal on foreign currency transfers.
They have two offices in the Region of Murcia, one on La Manga Club and one in Los Belones:
Heniam & Associates La Manga Club
Monteclaro, 1
30389
La Manga Club
Murcia
Appointment only — contact to book a slot now
Heniam & Associates Los Belones
Calle Delta del Danubio, 3
30385
Los Belones
Murcia
Opening Times
- Monday to Friday: 9.30am - 2pm
Afternoon appointments available on request
To find out how Heniam & Associates can help you by taking the strain out of life in Spain, contact them for further information!
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