Catalonia registers record number of Golden Visas in 2024 after program ban announcement

A new record for the Golden Visas in Catalonia. Between January and late November last year, authorities granted 314 residency permits to foreign investors in the territory.

Those non-EU nationals seeking to benefit from such a residency permit must invest or buy a property valued at over €500,000.

2024's figure marks an all-time high since 2020 and comes after Spanish PM Pedro Sánchez announced in April that the system would be banned.

Data shared with Catalan News after a transparency request to Spain's foreign ministry show that the number of Golden Visas issued in 2024 surpassed those registered in 2023. These two years account for 60% of the 1,248 residency permits granted since 2020.

Official figures shared with this media outlet confirmed the trend registered across Spain in November.

Between 2020 and 2024, foreigners applying for such visas invested over €826 million in Catalonia, with an average of €662,000 per acquisition.

Most of these residency permits were granted to Chinese citizens, followed by Iranians, US citizens, and Brits.

Almost all assets in Catalonia were recorded in Barcelona. Out of the 314 registered, 308 were in the Catalan capital, three in Tarragona, three in Girona, and none in the western province of Lleida.

The 314 investments between January and November 2024 accounted for €205 million.

April 3, 2025 will mark the end of Spain's 'Golden Visa' scheme, as published on the Organic Law 1/2025 published in Spain's Official Gazette early this January.

The legislation was passed by Spain's Congress and Senate by the end of 2024 after Sánchez announced the wish of his cabinet to ban the program in place since 2013.

€4 million

Investments to obtain a 'Golden Visa' or a temporary residency permit must be over €500,000. However, the average 2024 was €662,000 as several investments surpassed the €4 million threshold.

Among the 20 wealthiest investments recorded during the last five years (2019 and 2024), one was granted in May 2021 after a foreigner made an €11 million investment in Girona.

Lower in the ranking, another foreigner invested €5.1 million in Barcelona. The ranking, however, is monopolized by internationals acquiring temporary residencies in Madrid and the Balearic Islands.

Chinese investors lead the way

As in Catalonia, Chinese investors lead the rankings in Spain. According to the available data, between January 1 and November 20, 473 Chinese nationals were granted temporary residency in exchange for investments exceeding €500,000.

This accounts for half of Spain's Golden Visas in 2024, 942.

Since the scheme came into force in 2013, 3,315 Chinese residents have been granted visas, 44.4% of the 7,456.

Iranians followed with 74 visas in 2024, ahead of 59 Filipinos, 50 US citizens, and 50 Brits.

Meanwhile, Russia is the second nation with the highest number of foreign investors. Since 2013, 1,159 Golden Visas have been granted, 15.5% of the overall figure. Some years, even leading the ranking. But everything changed in 2022 with the war in Ukraine.

For over a decade, 298 Iranians, 240 US citizens, and 230 Brits have benefited from the Golden Visas scheme in Spain. The latter ones only applied to such program after Brexit was fully implemented.

Among the hundreds of listed nations are the Philippines (193), Egypt (181), Ukraine (150), Mexico (142), Venezuela (99), Turkey (98), Saudi Arabia (95), and Colombia (92).

Read this article to learn more about Golden Visas, who is eligible, and how to apply