The Congress of Deputies Ends Golden Visas

Publicado: 20-12-2024

On December 19, the Plenary Session of the Congress of Deputies ratified the Organic Law Project on measures for the efficiency of the Public Justice Service, with 177 votes in favor and 170 against. Although it was initially vetoed by the Senate, the new vote overturned the veto, leaving the law ready for publication in the Official State Gazette (BOE) and its subsequent entry into force.

One of the key measures of this law is the termination of the “Golden Visa” residence permit for investors. Specifically, Articles 63 to 67 of Law 14/2013, dated September 27, on support for entrepreneurs and their internationalization, which regulated this visa, are eliminated.

 

Who does this ratification affect?

The ratification of the Organic Law Project exclusively affects applications submitted after the Law comes into effect.

Until when can one apply to the Golden Visa?

The Law will enter into force three months after its publication in the Official State Gazette (BOE), unless otherwise stated, thus allowing submissions until such entry into force.

 

What are the implications for current applicants?

• Applications submitted before the Law’s entry into force: Investors or their family members who submitted the corresponding application prior to the Law’s entry into force will be eligible to obtain the visa or authorization under the regulations in effect at the time of the application.
• Valid visas and authorizations: Visas and authorizations valid as of the Law’s entry into force will remain valid for the period for which they were issued.
• Renewals: Renewals will be processed and resolved according to the regulations in effect at the time the initial authorization was granted.

 

If you are seeking advice on immigration matters, at Gentile Law, our team of experts is ready to assist you.

 

Pablo Lanfranchi
pablolanfranchi@gentile.law
+34 604 516 052

Andrés Fermín
andresfermin@gentile.law
+34 684 463 736

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