Spanish Government To End Golden Visa Program

Learn about the Spanish government's move to end the golden visa program and explore alternative options for your investments. [image]() Hi {NAME}, The Spanish government is making a bold move: they're planning to scrap the entire Golden Visa program, not just the real estate option. This could have significant implications for those looking to obtain residency through investment in Spain. Here's what you need to know: The Spanish government, led by Prime Minister Pedro Sánchez’s Socialist Party (PSOE) and the leftist Sumar party, has presented an amendment to Congress to eliminate the Golden Visa program. Introduced in 2013 to attract foreign capital during an economic crisis, this program has granted residence permits to around 15,000 foreigners over the past decade. The proposed amendment will eliminate all routes toward residency by investment, including real estate, public debt, shares, bank deposits, funds, and business projects. The government believes that the program has primarily driven up housing prices without creating significant job opportunities. This move is part of a broader strategy to address housing market tensions and is aligned with recommendations from the European Commission. The amendment is currently in the article amendment phase and will be open until September 4. So, what are your options now? Alternative Golden Visa Programs: - Greece Golden Visa: The Greek Golden Visa investment threshold is increasing to €400,000 or €800,000 depending on the area. However, investors can still qualify with a €250,000 investment if they make a 10% down payment by August 31, 2024, and complete the purchase by December 31, 2024. - Italy Golden Visa: Invest €250,000 in a startup, with no real estate option currently available. Italy's program is known for its low entry cost. - Cyprus Golden Visa: Various investment options starting from €300,000. Cyprus offers a robust program with multiple pathways. - Malta Golden Visa: Requires a mix of investment in real estate and government contributions. Malta's program is comprehensive but comes with higher costs. This news is still developing, but if these changes take effect, you need to be prepared. Explore your options now and identify where you can establish residence or obtain new citizenship. This way, when one program closes, you'll have alternatives that offer better treatment, an improved lifestyle, lower taxes, and greater freedom. If you want to stay ahead and explore your golden visa program options, click below to get started and we'll guide you through the best alternatives. [GET STARTED]( In Freedom and Prosperity, The Nomad Capitalist Team = = [Update Email Preferences]( | [Unsubscribe]( Nomad Capitalist Limited 2301, 23F Bayfield Building 99 Hennessy Road Wanchai Hong Kong +1 (979) 966-6623