The government is trying to tighten the requirements. Granting a residence permit to foreign fortunes who buy a house worth 500,000 Euros in Spain, As confirmed to Europa Press in the sources of the Ministries of Economic Affairs and Inclusion, Social Security and Immigration.
These are known as permissions ‘golden visas’ or ‘golden visas’‘ and, according to the newspaper ‘El País’, they would be considering either increasing the minimum investment required to obtain a ‘golden visa’ or banning it outright, which is exactly what Más País demanded in a bill he submitted last February.
According to the formation of Íñigo Errejón, ‘golden visa’ encourages ‘speculation’ of house prices Spainit does not benefit the national economy and “repels the local population”, creating a “very negative” knock-on effect on the housing market.
In the proposal submitted by Más País, these permissions, which were brought by the law in the Government of Mariano Rajoy in 2013 to support entrepreneurs and support their internationalization, It facilitated the residence of 100,000 wealthy foreigners who invested in the purchase of real estate with a value of 500,000 euros or more.
The ‘golden visa’ was also questioned by the European Unionas they are given without examining the source of the invested capital.
In this context, Más País, who is negotiating with the Government on what to do with these visas, legal reform to ensure that these foreign investments in housing are made “without guaranteeing their impact on the real economy and without disrupting the real estate market in Spain”.
More Country suggestions
In exchange for applicable law, More Countries Wants non-resident foreigners planning to enter Spanish territory to make a significant capital investment to be able to apply for a residence visa, or, where appropriate, housing for investors.
In this sense, The party proposes a new phrase to be understood as “significant capital investment”: carried out for a value equal to or greater than two million Euros in public debt securities; It is worth one million euros in shares or subsidiaries of Spanish companies or bank deposits in financial institutions in the country.
Más País initiative, similar to that undertaken by the Portuguese Government, where these visas were terminated under a shock scheme to “fight real estate speculation”.
Nearly 5,000 ‘golden visas’ since 2013
In a recent parliamentary response from the government to Íñigo Errejón, The government estimates there are 4,940 investor visas or ‘golden visas’ issued between 2013 and 2022, This amount includes not only investments in real estate, but also investments in capital and business projects.
In the said reply, which Europa Press has access to, The government confirmed that 45% of these visas were issued in favor of Chinese nationals, for a total of 2,263 people.
Investors from Russia accounted for 19.6% with 969 visas. The Executive also stressed that visas issued to its citizens Ukrainereceived 2.7% of the permits, a total of 136.