An IMGW News Report
A surge in applications for Spain’s Golden Visa programme has been recorded among American investors, with figures in Madrid alone rising by 200 percent since December 2024. The rush follows the Spanish government’s decision to scrap the scheme on 3 April 2025 in response to mounting concerns over housing affordability.
“Chinese, Russian, British, and American nationals were the scheme’s primary beneficiaries, with notable participation from Iranians, Ukrainians, Venezuelans, and Mexicans.”
The Golden Visa, which grants residency to wealthy foreign nationals in return for financial investment, has long been a favoured route for Americans seeking European footholds. However, with the programme’s imminent closure, investors are scrambling to finalise their applications.
Ángel Sánchez, a partner at Golden Partners, told El Debate that the spike in demand reflects the urgency of securing Spanish residency before the window closes. “Since Christmas, we have seen a sharp rise in American investors in Madrid looking to purchase real estate worth at least €500,000 to qualify,” he noted.
Madrid has been the focal point of Spain’s foreign investment, attracting 74.8 percent of such inflows in 2024. American investors have played a significant role, particularly those acquiring dual US-Spanish nationality.
Golden Visa Applications Triple Amid Policy Shift
Golden Partners, a law firm advising foreign investors in Spain, reported a dramatic rise in applications since early January 2025, coinciding with the official publication of the policy change in the Boletín Oficial del Estado (BOE). The firm noted that applications had already tripled in mid-2024 but surged again once the government’s decision was formally confirmed.
Government data show that Spain issued around 780 Golden Visas between January and October 2024, a steep drop from the 3,200 granted over the same period in 2023. Chinese, Russian, British, and American nationals were the scheme’s primary beneficiaries, with notable participation from Iranians, Ukrainians, Venezuelans, and Mexicans.
As Spain shutters its Golden Visa scheme, other European countries, including Malta, Portugal and Greece, may stand to gain from investors now seeking alternative routes to EU residency.
