Golden Visa in Spain Ends in 2024

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This Is Your Last Call to Get the Golden Visa in Spain

Is Residency by Investment something you’re looking into in 2024? Perhaps you’re contemplating applying for a Spanish Golden Visa. If you are, hurry, as the golden visa in Spain will close in 2024.

The Word from La Moncloa

The Palace of La Moncloa is where the Spanish President resides and works. La Moncloa is the title of the official Spanish Government website too. On Wednesday, July 24, 2024, they released the explanatory Government pushes for elimination of residence visas for real estate investment.

These “residence visas for real estate investment” date back to 2013. Then the conservative Partido Popular were in Government and pledged to attract foreign direct investment to boost an ailing economy. Now, Isabel Rodríguez, the Minister for Housing and Urban Agenda, links the golden visas with the lack of affordable housing.

The Latitude Perspective on the Golden Visa in Spain in 2024

Ilana van Huyssteen-Meyer is our European Residency by Investment specialist. Based in neighbouring Portugal, Van Huysteen-Meyer keeps a close eye on Iberian developments.

El País’ El Gobierno enmienda una ley para acabar con todas las ‘golden visa’, incluidas las que son por inversión empresarial caught her attention with the realization that the Spanish Government will end business golden visas as well as real estate ones.

“It doesn’t take a Nostradamus to have foreseen this,” Van Husteen-Meyer reasons. “Back in April, Spanish President Pedro Sánchez told everyone that he planned to eradicate the real-estate avenue to obtaining a golden visa in Spain in 2024.”

Our European Golden Visa expert instructs investors to take one of two ways if residency in Europe remains their aim.

That’s to “1.) Take advantage of the benefits of the golden visa in Spain which can’t be reversed even if the programme disappears by seizing the moment –  act now as the law will be revised in September. 2.) Turn to Portuguese Residency by Investment as their Government understands the underlying need for a foreign direct investment that continues to support the economy.”

How to Secure a European Golden Visa in 2024

Presently, you can still decide between Portuguese and Spanish Residency by Investment, and let’s not forget the availability of the Greek Golden Visa. Your next move is to consult an European Residency by Investment firm like Latitude. So, don’t delay and contact us today to find the best investment migration solution for your needs.