The Spanish government plans to raise the minimum investment required to participate in the Golden Visa Spain program. And also, perhaps, exclude the purchase of real estate from the list of options. Such data was published by the El Pais in the current May. As in other European countries, parliamentarians are shifting the problems of rising prices in the real estate market to golden visa programs for investors.
The arguments of the parties are as follows: the cost of 500,000 euros for real estate in key cities of Spain is no longer the premium segment. So, for attracting only HNWI the investments should be much higher. Therefore, it is proposed to increase the requirements for the value of real estate to 1 million euros, as in other Golden Visa Spain options. The same as for a deposit in a bank and business investment.
The Spanish Golden Visa program was introduced in 2013 and allows foreigners to obtain a residence permit in Spain.
For example, by buying a local property worth at least 500,000 euros. The Spanish Golden Visa program remains one of the most sought after by foreign investors in Europe. And this, despite all the tax requirements of this Mediterranean country.
All holders of Spain Investor visa (Golden Visa Spain) are entitled to work in Spain. Another benefit is that this type of residence permit does not oblige a foreigner to live in Spain. So, the “ golden visa” can be used to freely travel around Europe.
After 5 years, the investor and his family are eligible for permanent residence, subject to certain conditions. At this point, the property can already be sold.
The three most popular provinces for buying real estate in order to obtain a ” Golden Visa Spain” from foreigners are Alicante, Barcelona and Malaga.
