Spain's Golden Visa Program Nears Its End: What Expats Need to Know
In a significant development that will impact many expats and foreign investors in Spain, the country's Golden Visa program is on the verge of being abolished. Here’s a detailed look at the recent events and what this means for those affected.
The Legislative Journey
The Golden Visa program, which allowed non-EU nationals to obtain residency in Spain in exchange for significant investments, such as purchasing property worth €500,000 or more, has been a contentious issue. In April 2024, Prime Minister Pedro Sánchez announced plans to terminate the program, citing concerns that it was inflating property prices and potentially enabling foreign criminal activity[5].
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