Following a bill which has been submitted from a left-wing political party, Spain is currently considering changes to the Golden-Visa.
The bill which was submitted in February 2023, argues that the Golden-Visa program does not bring any benefits to the country, while the origin of the money used to make the investments, is not adequately investigated.
Spain´s Golden-Visa scheme allows Non-EU nationals to obtain EU residency once they have made property investment of at least €500,000 in the country.
The bill argues that the Golden-Visa creates property speculation which then forces the local population to leave their communities and does not bring any benefit to the national economy, creating a brutal rise in house prices.
It is understood that the Spanish government is considering the bill which proposes the options of either an increase in the minimum investment required or that the Golden Visa Program is eliminated altogether.
For the same reasons, there are also questions regarding the continuation of the Golden-Visa programmes in other EU countries, including Ireland and Portugal which have already ended the programme.
Spain is still currently accepting Golden-Visa applications meaning you still currently have time to obtain your Residency in the EU.
Would you like to become a resident of Spain through investment?
At current residency in Spain through the Golden-Visa Programme is still active and open for applications.
Permanent residency is obtained after 5 years of Spanish Residency through Self-Employed Residency or Non-Lucrative Residency or Residency through Investment. This followed by 5 years as a permanent resident and means you can then obtain Spanish Citizenship with a Spanish Passport.