Non-European Union nationals looking to get residency in Spain through the Golden Visa Program must act fast - April 3, 2025 will mark the final deadline to apply. The Spanish government confirmed the decision to end the program last week through the publication of Organic Law 1/2025 in its Official State Gazette (BOE). This decision will take effect three months after the announcement, giving investors a last opportunity to secure residency under the program.The SpanishCongress of Deputies approved the law abolishing the Golden Visa Program in December 2024 with 177 votes in favor and 170 against. However, the legislative process faced a hurdle on December 2, 2024, when the Spanish Senate initially vetoed the bill. Despite this, the law progressed and was officially confirmed in January 2025.The program, introduced in 2013, allowed non-EU nationals to obtain residency by investing at least €500,000 in Spanish property, among other options. While the scheme attracted substantial foreign investment, it also drew criticism for contributing to rising housing prices, prompting the government to reconsider its impact.Focus on housing rights and economic balancePrime Minister Pedro Sanchez emphasized the government’s commitment to addressing Spain’s housing crisis during an April 2024 announcement. “Housing is not a mere speculative business but a right,” he had said. This decision aligns with broader efforts to ensure affordability and accessibility in Spain’s real estate market.In 2024 alone, 780 golden visas were issued, with an average investment of €657,204 per applicant, showcasing the program’s economic significance. However, critics argue that such investments have strained the housing market, making it less affordable for local residents.Last call for investorsProspective applicants have until April 3, 2025, to invest in Spanish property or other eligible options under the Golden Visa Program. Beyond this date, Spain will no longer offer residency pathways tied to financial investments, signaling a significant policy shift aimed at prioritizing housing equity over speculative gains.For wealthy investors, this marks the final opportunity to leverage the program before its end.