The Spanish government has announced plans to take action to eliminate the granting of the so-called “Golden Visa.”
The government argues that this policy has fueled speculation and contributed to the rising cost of housing in certain areas of the country. As a result, these measures will affect investments involving the purchase of real estate properties with a minimum value of 500,000 euros.
Currently, the implementation date of these measures is unknown, as it will require modifications to Law 14/2013, of September 27, which supports entrepreneurs and their internationalization, the legislation that regulates the Golden Visa for the acquisition of real estate.
Although the implementation date of these modifications has not been detailed yet, one of the most relevant questions is what will happen with the renewal of visas that have already been issued. There are several alternative routes to obtain this investment visa, which (for now) will remain in force. These include:
• Investment of 2,000,000 euros in Spanish public debt securities.
• Investment of 1,000,000 euros in shares or equity of Spanish capital companies.
• Investment of 1,000,000 euros in investment funds.
• Investment of 1,000,000 euros in bank deposits in Spanish financial institutions.
• Participation in a business project to be carried out in Spain that is considered to be of general interest.
For all foreigners considering the possibility of obtaining this visa for the acquisition of real estate to settle in Spain, please contact us for advice.
To learn more about the requirements and benefits of the Investment Visa, do not hesitate to contact our office.
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