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The new Golden Visa
The new Spanish Golden Visa, in addition to preventing foreigners from obtaining a visa for buying a property in Spain worth 500,000 euros or more, as already announced by the Government, will also prohibit them from investing in projects that increase housing prices in our country in exchange for a residence permit. The Congress of Deputies is already processing the Sumar Bill to modify the Golden Visa, the system that gives non-EU foreigners a residence permit in exchange for investments in Spain. The President of the Executive, Pedro Sánchez, announced last April 8 that he would eliminate the possibility that allows foreigners to obtain the visa for buying a property in Spain for, at least, 500,000 euros, with the aim of cooling the prices of the real estate market. The new text being processed by the Lower House already eliminates from the Law to support entrepreneurs and their internationalization the possibility for foreigners to obtain a visa for buying a property in Spain, but