Spain is ending its program of issuing "golden visas" – residence permits for investors. From April 2025, new applications under this program will not be accepted. This was reported on the portal "Official State Herald", reports "Snob".
At the same time, existing "golden visas" will remain valid for the period specified when they were issued. For those who applied before the new rules came into force, the opportunity to obtain a visa remains under the conditions that were in effect at the time of filing the documents.
Spanish Prime Minister Pedro Sanchez has previously explained that the abolition of the "golden visa" program will improve the situation with housing affordability in the country.
The Golden Visa program was for citizens of countries outside the EU. It provided residence permits in Spain in exchange for investments. The most popular of these was the purchase of real estate from 500 thousand euros.
By the way, the “golden visa” system has already been abandoned in Portugal and Ireland.
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