- Golden Visa Program Overview:
Spain’s Golden Visa program, launched in 2013, grants residency to non-EU nationals who make significant investments in the country. - 2024 Statistics:
By October 2024, Spain issued 780 Golden Visas, averaging 69 per month from January to March and rising to 95 per month from April to October. - Cumulative Issuances:
Since the program’s inception, over 15,300 Golden Visas have been granted to foreign investors. - Top Beneficiary Nationalities:
The leading recipients of Golden Visas in Spain are nationals from China, Russia, and the United Kingdom. Other significant beneficiaries include individuals from the U.S., Iran, Ukraine, Venezuela, and Mexico. - Preferred Investment Route:
Most applicants obtained their visas by investing at least €500,000 in Spanish real estate, a popular route within the program. - Comparison with 2023:
Although there is consistent issuance in 2024, the number of visas issued so far is lower than the 3,200 Golden Visas granted in 2023. - New Legislation Passed in 2024:
In November 2024, Spain’s Congress passed a bill to eliminate the real estate investment route for Golden Visa applications starting January 2025. - Reason for Policy Change:
The change aims to address Spain’s housing affordability crisis and reduce speculative investments in its property market. - Impact on Future Applicants:
The removal of real estate as an investment option will significantly alter the program, forcing future applicants to explore other eligible investment avenues. - Advice for Prospective Investors:
Investors interested in Spain’s Golden Visa program should act quickly before the real estate option ends or prepare to explore alternative qualifying investments.
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