The President of the Government announced the end of the Golden Visa in Spain, especially those related to real estate investments, to avoid price increases and speculation. This has caused alarm among foreign investors who have it in process or were considering applying for it.
Patricia Ruiz, manager in the area of international mobility, explains in El Economista: "if the Golden Visa disappears, the investment that was based on the attraction of foreign economy will disappear". This investment will end up in other countries that maintain their Golden Visa, because: "foreigners want a European passport, that is, mobility within the Schengen area", says Patricia Ruiz.
The attraction of the Golden Visa permit for foreign investors was the ease of entry into Spain, without the need for a minimum stay, nor renewal, nor the need to acquire a tax residence. What happens to those investors who already have their Golden Visa? Our expert lawyer reassures: "Whoever has it granted, by the legal principle of non-retroactivity, it should not have any effect. You cannot take away a right already granted".
Do you have doubts about how to process your visa or do you need an alternative? Our team of immigration lawyers can help you. Contact them here.
If you would like further information, please do not hesitate to contact our office by calling 91.345.48.25 or sending an email to info@cecamagan.com
