Americans' Applications for Spain’s Golden Visa Surge by 200%
Key Takeaways
- Applications for Spain’s Golden Visa from U.S. nationals in Madrid have surged by 200% since December 2024.
- The spike is driven by investors rushing to secure residency before the program ends.
- Spain will officially terminate the Golden Visa Program on April 3, 2025, as part of efforts to address the housing crisis.
U.S. Investors Drive 200% Increase in Spain’s Golden Visa Applications
Spain has witnessed a dramatic surge in Golden Visa applications from U.S. nationals, with Madrid alone reporting a 200% increase in recent months.
The spike follows the Spanish government’s December 2024 announcement that the program, which grants residency in exchange for financial investments, will end on April 3, 2025. The decision comes as part of measures to tackle the country’s housing crisis.
Ángel Sánchez, a partner at Golden Partners, told El Debate that the urgency among investors to secure residency before the program's termination has fueled the sharp rise in applications.
"Spain has long been a prime destination for foreign investors, and Madrid has become the key area of interest," Sánchez explained.
In 2024 alone, Madrid attracted 74.8% of all foreign investments in Spain, with U.S. nationals making up a significant portion, particularly those seeking dual Spanish-American nationality.
"Since last Christmas, we've observed a significant increase in American investors looking for properties worth at least €500,000 to qualify for the Golden Visa before the April 3 deadline. The rise has been especially pronounced since January 2025, with applications up by 200%," Sánchez added.
Golden Visa Applications Skyrocketed in Early January 2025
A report from Golden Partners, a firm specializing in advising foreign investors in Spain’s real estate market, revealed that Golden Visa applications had already tripled by mid-2024. However, a major surge was recorded on January 2 and 3, immediately after the termination date was officially published in Spain’s Official State Gazette (BOE).
Between January and October 2024, Spain issued around 780 Golden Visas, a decrease from the 3,200 issued in the same period in 2023.
Data shows that the top beneficiaries of Spain’s Golden Visa in recent years have been nationals from China, Russia, the United Kingdom, and the United States. Additionally, significant numbers of visas were granted to investors from Iran, Ukraine, Venezuela, and Mexico.