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A total of 314 golden visas were issued in Catalonia for a period from January until November 2024, marking a new record.
The surge in the number of golden visa applications is driven by the announcement that the program will soon be terminated.
To benefit from Catalonia’s Residency by Investment Program, wealthy foreign nationals are required to invest or purchase properties worth €500,000 or more in Schengen.News reports.
According to Catalan News, the figures registered in the first 11 months of 2024 account for the highest record since 2020, which came after Spanish Prime Minister Pedro Sánchez said the program would be abolished in April.
The same source reveals that for a period from 2020 until 2024, internationals interested in applying for golden visas invested more than €826 million in Catalonia, with an average of €662,000 per acquisition.
The majority of Catalonia’s assets were registered in Barcelona. Out of the total 314 golden visas registered in the first 11 months of 2024, 308 were registered in Barcelona, three in Tarragona, and Three in Girona.
The investments registered between January and November 2024 accounted for a total of €205 million.
One of the wealthiest investments registered between 2019 and 2024 was granted in May 2021 after an applicant invested a total of €11 million in Girona, according to Catalan News. Another investor brought €5.1 million to Barcelona.
Chinese Nationals Top Beneficiaries of Spain’s Golden Visa Program in 2024
The data provided by Spain’s Ministry of Foreign Affairs, upon the request of Catalan News from January 1, 2024, until November 20, 2024, a total of 473 Chinese nationals benefited from the Golden Visa Program of Spain, accounting for half of Spain’s golden visas issued in 2024 (942).
Chinese nationals were top beneficiaries of Spain’s Golden Visa Program in 2024, with almost half of the applications made in the first 11 months of 2024, followed by the applicants from Iran (74), the Philippines (59), the United States (50) and the United Kingdom (50).
Abolishment of Spain’s Golden Visa Scheme
April 3, 2025, is the last day for submitting applications for Spain’s Golden Visa Program, as the scheme will no longer be available afterwards.
Spain will officially end its Golden Visa Program in a bid to deal with the housing crisis, in spite of the fact that the scheme made a significant contribution to the country’s economy.
The decision comes after, in December 2024, the Congress of Deputies approved the proposal to end the Golden Visa program with 177 votes in favour and 170 against.
Source: https://schengen.news/spains-catalonia-granted-314-golden-visas-to-foreign-nationals-in-2024/
