RELOC Barcelona’s Post

The measure to eliminate the Spanish real estate golden visa is a misdiagnosis. 

Spain’s Golden Visa program remains operational Spain plans to end its so-called golden visa program for foreign property buyers in a bid to increase the amount of affordable housing available to locals. President Pedro Sánchez has announced that the Council of Ministers will address at its meeting this Tuesday, 9th April, the elimination of the golden visa for foreigners who invest more than 500,000 euros in housing. During an event on housing in Seville, Sánchez explained that the Council of Ministers will study a report presented by the Minister for Housing and the Urban Agenda, Isabel Rodríguez, to modify the Law approved by the PP Government in 2013 "which allows a residence visa to be obtained if one invests in housing" in Spain. "We are going to initiate the procedure to eliminate the granting of the so-called 'golden Visa', which allows access to residence when investing more than half a million euros in real estate," said Sánchez, who pointed out that this is intended to "guarantee that housing is a right and not merely a speculative business". He explained that around 94% of visas for investors are linked to real estate investments (around 10,000 authorisations), and cities such as Barcelona, Madrid, Malaga, Alicante, Palma, and Valencia are the most in demand for this type of operation and, furthermore, coincide in being the "most stressed" areas. Sánchez has guaranteed that the government's priority in this legislature is to guarantee access to affordable housing, in order to respond to the needs of citizens, and that no citizen should have to spend more than 30% of their income to have a decent, adequate and quality home. To this end, he said, priority is being given to the social function of housing. The Netherlands, Portugal, Ireland, Greece and Malta have all either scrapped the equivalent of their ‘golden visas’ or made the conditions much harder for wealthy foreigners who want to make a real estate investment. Since the Golden Visa program was approved by law (Law 14/2013), only another law can remove it so until official legislation is passed, the Golden Visa program remains operational. +34 685810394 spain@fineandcountry.com #fineandcountryspain #realestate #goldenvisa #update #spain Christopher Hara Cristian Hara

Spain Concludes Real Estate Route for Golden Visa Program https://ift.tt/M3kHn2L Acquiring residency in Spain through the Golden Visa Program by purchasing a property worth €500,000 or more will no longer be an option for wealthy foreign nationals after the country has decided to discontinue this route. The decision has been confirmed by the President of the Government, Pedro Sanchez, stressing that Spain will take the necessary measures to guarantee that housing is a right and not “a mere speculative business”, SchengenVisaInfo reports. I want to announce that tomorrow’s Council of Ministers is going to study a report submitted by the Minister of Housing and Urban Agenda to modify the law, approved by the Popular Party in 2013, which allows obtaining a residence visa if you invest in housing in our country. Spain’s President, Pedro Sanchez However, it is still unclear whether other options will be maintained or not. Real Estate Investment Among Most Famous Golden Visa Options Among the most famous options in Spain, the Golden Visa is through real estate investment. In order to qualify, wealthy internationals are required to purchase real estate in Spain worth at least €500,000. This can include commercial, residential or land properties. Cities such as Madrid, Málaga, Alicante, Palma, Valencia and Barcelona are among the most demanded ones for this type of operation, and they are often considered the most stressed zones. The Golden Visa Program was approved by the People’s Party Government of Mariano Rajoy in 2013, amid the country’s financial crisis, as part of efforts to help the country’s economic growth. From its introduction until 2022, there were granted a total of 6,200 golden visas, based on the government’s estimations. The main beneficiaries of this kind of visa are Russians and Chinese nationals. Of the total 6,200 visas, nearly 45 per cent were issued to Chinese nationals and 20 per cent to Russians. Calls for Ceasing Golden Visa Program In spite of making significant financial contributions to Spain, the program is often criticized for being involved in illicit acts such as corruption, money laundering and tax evasion. The Minister of Culture, Ernest Urtasun, said that Spanish Golden Visas are “European shame” emphasizing that it cannot be that someone is given a residence permit for the fact of being rich. “This is staging first- and second-class citizens. We are glad that they listen to us by eliminating this measure.” Minister of Culture of Spain, Ernest Urtasun Last year, the Spanish left-wing political party, Más País, introduced a bill to abolish the real estate investment option from the Golden Visa Program, arguing that it does not bring any benefits to Spain. Following the Path of Portugal & Greece In a bid to deal with the housing crisis, Portugal and Greece also implemented new changes to their Golden Visa Programs. While Portugal removed the real estate investment option from the Golden  Visa schem...

The Golden Visa in Spain could be removed. Spain may scrap its so-called "golden visa" programme granting residency rights to foreigners who make large investments in real estate in the country, Prime Minister Pedro Sanchez told reporters on Monday. Ending the scheme would help make access to affordable housing "a right instead of a speculative business", Sanchez said. The programme awards non-EU citizens investing at least 500,000 euros without taking out a mortgage in Spanish real estate a special permit, allowing them to live and work in the country for 3 years. "Today, 94 out of every 100 such visas are linked to real estate investment...in major cities that are facing a highly stressed market and where it's almost impossible to find decent housing for those who already live, work and pay their taxes there," Sanchez said. This move will reduce investment into the Spanish economy but I am sure that the Spanish politicians will have other income producing proposals such as allowing the visa to be issued in certain Spanish areas that could do with an influx of investment into a stagnant property market. Other alternatives could be allowing non-EU buyers of Spanish property to visit their property more than the current 90 days every rolling 180 days, this would be more beneficial if you could visit up to 180 days every rolling 360 days which will enable non-EU property owners to spend longer winters in Spain therefore spending more money in Spain. We wait and see what proposals are made however there are still the current visa options that enable non-EU buyers to relocate to Spain. For more information about relocating to Spain without the golden visa contact us now at Enquiries@chersun.com Mobile 0034610914850 Www.chersun.com #GoldenVisaSpain #InvestInSpain #ResidencyByInvestment #SpainImmigration #SpanishGoldenVisa #SpainPropertyInvestment #EUResidency #InvestmentVisaSpain

**Update on the golden visa termination** The termination of the Golden Visa program has been confirmed today, echoing the preliminary announcement made by Prime Minister Pedro Sánchez. 🎯 The Government's Stance: According to Housing Minister Isabel Rodríguez, this decision comes in response to the program's contribution to market tension and housing price increases in hotspots like Marbella, Barcelona, and the Balearic Islands. Although we believe that its real impact will be closer to none. 📊 Impactful Statistics: - Since its inception, 14,566 Golden Visas have been granted for real estate investments in almost 10 years. This represents less than 0,1% of the real estate purchases made in this period. - Golden Visa transactions accounted for 7.1% of total property sales in Marbella, 5.3% in Barcelona, and up to 10% in certain Balearic municipalities. ❗ Legislative Changes on the Horizon: The government is poised to expedite the modification of Law 13/2014, which regulates the Golden Visa. It appears likely that a royal decree will be employed to eliminate real estate investment-based residency, casting uncertainty for foreigners interested in applying for the Golden Visa this year. This expedition underlines the fact that this is a political measure, facing the electoral period in the EU parliament, as well as Catalona and the Basque Country. #GoldenVisa #RealEstate #Spain #HousingRights #PolicyChange #MarketImpact

The Spanish government has announced its intention to close its Golden Visa program, which granted residency and work permits to foreigners investing at least €500,000 in the country. 🇪🇸💼 The Golden Visa Spain was established in 2013, a year after a similar program started in Portugal, and primarily focused on various real estate investment options, constituting 94% of the total. 🏡💰 It has not yet been disclosed whether the program will be completely terminated or if only the real estate option will be affected, similar to what occurred in Portugal. ⏳ Details regarding the implementation timeline remain undisclosed. The expectation is that ongoing applications will be processed to completion. 📑 Further specifics are anticipated in the coming days. Atlantic Bridge is monitoring the updates closely. 🌐 It‘s worth noting that in Portugal, the Golden Visa program remains active across different investment modalities. Visit our website to learn more: https://swki.me/fnxy9BaO #GoldenVisa #Spain #Residency #Investment #RealEstate #Portugal #AtlanticBridge

Is Spain really going to stop the property investment Golden Visa? Living in a popular tourist area of Spain, I fully appreciate the problems surrounding affordable housing but cannot understand how stopping this visa is going to really help the situation. In my area, I feel that the problem needs to be tackled in different ways: * Improve infrastucture so that people can live outside the expensive coastal zones and travel in to these areas for work. There is hardly any public transport linking the main towns. *Work with builders to construct cheaper housing. * Tackle the problems associated with the low minimum wage and lack of legitimate work contracts which is making it impossible for young workers to get a mortgage. I very much doubt any first time buyer would be able to afford over 500,000 euros to buy a property so I would be interested to hear your views. Is it a good idea to say adios to the Golden Visa? #firsttimebuyers #buyingpropertyinspain #goldenvisaspain #realestatespain

🌍 Recent News in the world of immigration and investment! Spain has announced the end of its Golden Visa Program. This significant development is poised to impact international investors and those seeking residency in Spain. According to the government’s official announcement, the controversial scheme that permits wealthy foreigners to buy residence rights by investing is being axed mainly to curb property speculation and “to ensure that housing is a right and not just a speculative business. As we navigate changes in residency regulations, it underscores the importance of long-term financial planning, especially for individuals planning to relocate. From tax implications to estate planning, understanding and optimizing your financial strategy across borders is essential for a smooth transition and long-term financial security. #RosbothamFinance #PensionPlanning #Investments #RealEstate

Shifting Horizons: Why Spain’s Golden Visa Is Making Headlines In the wake of Trump’s re-election, a fascinating trend has emerged: a growing number of Americans are turning their gaze toward Europe, seeking new opportunities and stability. Among the options available, Spain’s Golden Visa program has shone brightly, offering a unique combination of cultural richness, exceptional quality of life, and strategic investment potential. 🇪🇸 But here’s the game-changer: Spain is phasing out its Golden Visa for real estate investments. This program, which has opened doors for thousands to establish residency through property ownership, is entering its final chapter. While alternative routes might surface, none are expected to carry the same ease or allure. 💡 What makes the Golden Visa unique? More than a simple property investment tool, the Golden Visa has acted as a bridge to Europe, granting families access to Spain’s vibrant lifestyle and the freedom to travel across the Schengen zone. It’s been a pathway not just to residency, but to redefining what a future in Europe can look like. 🔎 Why is everyone talking about this now? The end of Spain’s Golden Visa is part of a broader shift in European immigration policies, reflecting efforts to balance economic incentives with societal priorities. For many, this marks a pivotal moment—a transition that could reshape how investors and families engage with Europe. ✨ It’s not just about residency. It’s about creating a foundation for the future: new opportunities, expanded horizons, and a connection to one of the most dynamic regions in the world. Spain’s changing legislation is a reminder of how deeply global events influence local policies. As we witness these shifts, one thing is clear: staying informed and flexible is more crucial than ever. This isn’t just a policy change—it’s a moment of transformation in how we think about mobility, opportunity, and the interconnectedness of our world. 🌟

Spain is planning to scrap the "golden visa" scheme that grants residency rights to foreigners who make large investments in real estate. Ending the scheme would help make access to affordable housing "a right instead of a speculative business", Spanish Prime Minister Pedro Sanchez said. The programme awards non-EU citizens investing at least €500,000 (around £429,000) in Spanish real estate - without taking out a mortgage - a special permit, allowing them to live and work in the country for three years. "Today, 94 out of every 100 such visas are linked to real estate investment... in major cities that are facing a highly stressed market and where it's almost impossible to find decent housing for those who already live, work and pay their taxes there," Mr Sanchez said. From the start of the golden visa scheme in 2013 to November 2022, Spain issued almost 5,000 permits, government figures show. Chinese investors top the list followed by Russians who invested more than €3.4bn (around £2.91bn), according to a 2023 Transparency International report. But Spain is also one of the most popular destinations for British emigrants in Europe. The UN estimated in 2020 that 303,000 British nationals lived in Spain. The scheme allowed British people with holiday homes in Spain to circumvent rules limiting non-EU citizens to a 90-day stay in EU countries without needing a visa. The measure is unlikely to affect the property market since less than 0.1% of 4.5 million homes sold during that period were purchased under the scheme, according to property website Idealista. Portugal has recently revamped its own "golden visa" scheme and excluded real estate investment to tackle its housing crisis.