Socialist Party Spain - Costa News Spain

End of the Golden Visa in Spain: Government moves to annul law that grants residency to wealthy foreigners who invest €500,000 in property

July 24, 2024 Politics 0

Spain suspends handing out new 'Golden Visas' to Russian citizens

THE Socialist-led Spanish government will take the first step today toward scrapping the country’s ‘golden visa’ scheme, which was introduced in the midst of a financial crisis in Spain in a bid to attract wealthy investors to the country. Under the scheme, around 15,000 foreigners have secured residency permits in Spain after having invested more than half a million euros …