The Spanish government has announced that the ‘Golden Visa’ program, which grants residency permits in exchange for investments, will end on 3rd April 2025. After this date, no further permits will be issued under this scheme.
The ‘Golden Visa’ program was introduced to attract foreign investment by offering residency to individuals who invested in Spanish real estate or businesses. However, concerns have been raised about its impact on housing affordability and potential misuse for money laundering. The decision to terminate the program aligns with similar actions taken by other European countries, such as Portugal, which ended its ‘Golden Visa’ program in 2023.
Existing ‘Golden Visa’ holders will retain their residency rights, but no new applications will be accepted after April 2025. The government is expected to introduce alternative measures to continue attracting foreign investment without the associated drawbacks of the ‘Golden Visa’ program.
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