Key Points
- Spain intends to cancel its Golden Visa category for investors and real estate owners
Overview
The Spanish government introduced a proposal to end its Golden Visa category for investment and real estate. Before the visa category can be fully revoked, the bill must finalize formal review by the Spanish Congress.
This move comes as part of a broader initiative to address concerns about housing affordability and the influence of foreign investments on the local real estate market. The Golden Visa program, popular among non-EU investors seeking residency in Spain, has faced criticism for driving up property prices in major cities like Madrid and Barcelona. By eliminating this visa category, the government aims to prioritize affordable housing for Spanish citizens and mitigate the speculative investment trends contributing to the current housing crisis. Businesses and individuals affected by this change should stay informed about the legislative process and consider alternative pathways for residency and investment in Spain.
Looking Ahead
Continue to check the government of Spain’s website for the latest updates and information.
Written by: Jessie Butchley, Global Immigration Writer, Envoy Global
Source: The Congress of Spain
