Starting in April 2025, Spain will stop issuing residence permits to foreigners who invest more than 500,000 euros in the country’s economy (“golden visas”). Applications submitted up to this point will be considered in accordance with the procedure in force on the day of the application.
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“Visas and investor permits valid on the date of entry into force of this transitional provision will remain valid for the period for which they were issued,” Rossiyskaya Gazeta quotes the amendments published in the country’s Official State Gazette.
The government began to talk about prohibiting the “golden visa” for investments in real estate, shares of Spanish companies, public securities, etc. in April 2024. According to the President of the Spanish Government, Pedro Sánchez, this will discredit the kingdom’s real estate market.
According to statistics from the Tranio portal, in 2023 Russians bought more than 2.7 thousand properties in Spain.
Author:
Ekaterina Alipova
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
