In December 2024, the Congress of Deputies in Spain approved the Golden Visa Program, with the proposal passed with 177 votes in favour and 170 against. As informed by a news report in Schengen News.

On January 3, 2025, Spain’s Official State Gazette (BOE) published Organic Law 1/2025, officially confirming the abolishment of this program. The Law emphasises that the decision will become effective three months after its publication in the Official State Gazette.

This means that wealthy investors from countries outside the European Union will be eligible to purchase a property worth €500,000 or more in exchange for obtaining a golden visa, which is the most famous option of this program, or choose other options of this scheme until April 3, 2025.

Spanish Senate Vetoed the Bill on December 2. After being approved by the Spanish Congress of Deputies in December 2024, authorities in Spain announced that the new decision was ready to be published in the Official State Gazette (BOE).

At first, the regulation was approved by the Congress of Deputies in Spain on November 14 and then moved forward in the plenary process to reach the Senate. But on December 2, 2024, the Spanish Senate vetoed the bill that would abolish the Golden Visa Program.

In April 2024, authorities in Spain unfolded plans to terminate the Golden Visa Program, with the President of the Government, Pedro Sanchez, stressing that his country would take all the needed measures to ensure that housing is not a mere speculative business but a right.