{"id":48985,"date":"2024-11-24T22:47:51","date_gmt":"2024-11-24T15:47:51","guid":{"rendered":"https:\/\/porticoandbridge.com\/?p=48985"},"modified":"2024-11-24T22:47:51","modified_gmt":"2024-11-24T15:47:51","slug":"is-the-appeal-of-spains-golden-visa-fading","status":"publish","type":"post","link":"https:\/\/porticoandbridge.com\/en\/is-the-appeal-of-spains-golden-visa-fading\/","title":{"rendered":"Is the Appeal of Spain&#8217;s Golden Visa Fading?"},"content":{"rendered":"<div class=\"markdown markdown-main-panel response-optimization\" dir=\"ltr\">\n<p data-sourcepos=\"5:1-5:277\"><strong><span class=\"citation-0 recitation\">Spain&#8217;s Golden Visa program is experiencing a significant decline in 2024.<\/span><\/strong> <span class=\"citation-1 recitation citation-end-1\">According to Catalan News, only around 936 visas are expected to be issued by the end of the year, representing a decrease of over 68% compared to the total number in 2023.<\/span><span class=\"button-container hide-from-message-actions ng-star-inserted\"> \u00a0 <button class=\"mat-mdc-tooltip-trigger button image-fade-on hide-from-message-actions\" aria-controls=\"sources\" aria-expanded=\"false\" aria-describedby=\"cdk-describedby-message-ng-1-65\"><\/button><\/span><\/p>\n<p data-sourcepos=\"7:1-7:289\">While the government has not disclosed the number of applications submitted, the number of approved visas has dropped to its lowest level since 2021 (997 visas). <span class=\"citation-2 recitation citation-end-2\">Government figures show that as of October 2024, only 780 visas have been approved, averaging 78 visas per month.<\/span><span class=\"button-container hide-from-message-actions ng-star-inserted\"> \u00a0 <button class=\"mat-mdc-tooltip-trigger button image-fade-on hide-from-message-actions\" aria-controls=\"sources\" aria-expanded=\"false\" aria-describedby=\"cdk-describedby-message-ng-1-65\"><\/button><\/span><\/p>\n<p data-sourcepos=\"9:1-9:130\">This is in stark contrast to the record 3,273 visas issued in 2023, despite the possibility of the program being canceled in 2025.<\/p>\n<p data-sourcepos=\"9:1-9:130\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-48983\" src=\"https:\/\/porticoandbridge.com\/wp-content\/uploads\/2024\/11\/sgv.png\" alt=\"\" width=\"727\" height=\"421\" title=\"\" srcset=\"https:\/\/porticoandbridge.com\/wp-content\/uploads\/2024\/11\/sgv.png 727w, https:\/\/porticoandbridge.com\/wp-content\/uploads\/2024\/11\/sgv-300x174.png 300w, https:\/\/porticoandbridge.com\/wp-content\/uploads\/2024\/11\/sgv-24x14.png 24w, https:\/\/porticoandbridge.com\/wp-content\/uploads\/2024\/11\/sgv-32x19.png 32w, https:\/\/porticoandbridge.com\/wp-content\/uploads\/2024\/11\/sgv-48x28.png 48w\" sizes=\"(max-width: 727px) 100vw, 727px\" \/><\/p>\n<p data-sourcepos=\"11:1-11:194\">However, these figures only tell part of the story. While the number of approvals has decreased, the number of applications submitted remains unknown and is likely higher than in previous years.<\/p>\n<p data-sourcepos=\"13:1-13:154\"><span class=\"citation-3 recitation citation-end-3\">According to the Spanish Ministry of Housing, foreigners invested a total of \u20ac4.8 billion in Spanish real estate between 2018 and 2022 alone.<\/span><span class=\"button-container hide-from-message-actions ng-star-inserted\"> \u00a0 <button class=\"mat-mdc-tooltip-trigger button image-fade-on hide-from-message-actions\" aria-controls=\"sources\" aria-expanded=\"false\" aria-describedby=\"cdk-describedby-message-ng-1-65\"><\/button><\/span><\/p>\n<p data-sourcepos=\"15:1-15:232\">Of the visa applicants, 94% chose to invest in real estate with a minimum amount of \u20ac500,000. <span class=\"citation-4 recitation citation-end-4\">The remaining 6% opted for other options such as investing \u20ac1 million in a Spanish company or \u20ac2 million in government bonds.<\/span><span class=\"button-container hide-from-message-actions ng-star-inserted\"> \u00a0 <button class=\"mat-mdc-tooltip-trigger button image-fade-on hide-from-message-actions\" aria-controls=\"sources\" aria-expanded=\"false\" aria-describedby=\"cdk-describedby-message-ng-1-65\"><\/button><\/span><\/p>\n<p data-sourcepos=\"17:1-17:187\">According to the list of visa recipients, Chinese citizens lead with 1,302 visas. Followed by Russians with 521 visas, Iranians and the United Kingdom with 124 and 123 visas respectively.<\/p>\n<p data-sourcepos=\"19:1-19:303\">Data from Eldiario.es reveals an interesting contrast regarding US investors. Although ranking lower in terms of the total number of approved visas (113), US citizens lead in terms of total investment value, contributing \u20ac1.6 billion between 2018 and 2022 &#8211; double the \u20ac768 million of Chinese investors.<\/p>\n<p data-sourcepos=\"21:1-21:187\"><span class=\"citation-5 recitation citation-end-5\">Spain&#8217;s high-end real estate markets, including Barcelona, Madrid, M\u00e1laga, Alicante, Valencia, and the Balearic Islands, have attracted the majority of Golden Visa investors.<\/span><span class=\"button-container hide-from-message-actions ng-star-inserted\"> \u00a0 <button class=\"mat-mdc-tooltip-trigger button image-fade-on hide-from-message-actions\" aria-controls=\"sources\" aria-expanded=\"false\" aria-describedby=\"cdk-describedby-message-ng-1-65\"><\/button><\/span><\/p>\n<p data-sourcepos=\"23:1-23:180\"><span class=\"citation-6 recitation citation-end-6\">The Spanish government has been planning to end the Golden Visa program for some time, and the Spanish Socialist Workers&#8217; Party (PSOE) has recently made some progress.<\/span><span class=\"button-container hide-from-message-actions ng-star-inserted\"> \u00a0 <button class=\"mat-mdc-tooltip-trigger button image-fade-on hide-from-message-actions\" aria-controls=\"sources\" aria-expanded=\"false\" aria-describedby=\"cdk-describedby-message-ng-1-65\"><\/button><\/span><\/p>\n<p data-sourcepos=\"25:1-26:294\"><span class=\"citation-7 recitation citation-end-7\">The Congress, where the PSOE holds a majority, has recently passed a bill to end the Golden Visa program.<\/span> Krista Victorio, Executive Director at Orience, said that regardless of what happens with the amendment, attracting foreign investment to Spain should be in the government&#8217;s best interest. The bill is now being considered by the Senate, where the opposition Partido Popular party holds control.<span class=\"button-container hide-from-message-actions ng-star-inserted\"> \u00a0 <button class=\"mat-mdc-tooltip-trigger button image-fade-on hide-from-message-actions\" aria-controls=\"sources\" aria-expanded=\"false\" aria-describedby=\"cdk-describedby-message-ng-1-65\"><\/button><\/span><\/p>\n<p data-sourcepos=\"28:1-28:138\"><span class=\"citation-8 recitation citation-end-8\">Although senators may propose amendments or delay implementation for up to two months, they cannot permanently block the law.<\/span><span class=\"button-container hide-from-message-actions ng-star-inserted\"> \u00a0 <button class=\"mat-mdc-tooltip-trigger button image-fade-on hide-from-message-actions\" aria-controls=\"sources\" aria-expanded=\"false\" aria-describedby=\"cdk-describedby-message-ng-1-65\"><\/button><\/span><\/p>\n<p data-sourcepos=\"30:1-30:188\">Potential investors still have a narrow window of opportunity to act. The bill includes a protection clause for applications submitted before being published in the Official State Gazette.<\/p>\n<p data-sourcepos=\"34:1-34:469\">The article discusses the declining popularity of Spain&#8217;s Golden Visa program in 2024. <span class=\"citation-9 recitation citation-end-9\">Despite the potential cancellation of the program in 2025, the number of approved visas has significantly decreased.<\/span> <span class=\"citation-10 recitation citation-end-10\">While the overall investment from the program has been substantial, the government is moving forward with plans to terminate it.<\/span> The article also provides details about the different investor nationalities and their investment preferences.<span class=\"button-container hide-from-message-actions ng-star-inserted\"> \u00a0 <button class=\"mat-mdc-tooltip-trigger button image-fade-on hide-from-message-actions\" aria-controls=\"sources\" aria-expanded=\"false\" aria-describedby=\"cdk-describedby-message-ng-1-65\"><\/button><\/span><\/p>\n<div class=\"container ng-tns-c1009429112-75 hide\">\n<div class=\"carousel-container ng-tns-c1009429112-75\">\n<div class=\"carousel-content ng-tns-c1009429112-75\">\n<div class=\"sources-carousel-source ng-tns-c1009429112-75 hide ng-star-inserted\" data-test-id=\"sources-carousel-source\"><\/div>\n<div class=\"sources-carousel-source ng-tns-c1009429112-75 hide ng-star-inserted\" data-test-id=\"sources-carousel-source\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"skeleton-loader-container\"><\/div>\n<div class=\"response-footer gap complete\">\n<div class=\"show-sources-container ng-star-inserted\"><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Spain&#8217;s Golden Visa program is experiencing a significant decline in 2024. According to Catalan News, only around 936 visas are expected to be issued by the end of the year, representing a decrease of over 68% compared to the total number in 2023. \u00a0 While the government has not disclosed the number of applications submitted, &#8230; <a title=\"Is the Appeal of Spain&#8217;s Golden Visa Fading?\" class=\"read-more\" href=\"https:\/\/porticoandbridge.com\/en\/is-the-appeal-of-spains-golden-visa-fading\/\">Read more<span class=\"screen-reader-text\">Is the Appeal of Spain&#8217;s Golden Visa Fading?<\/span><\/a><\/p>\n","protected":false},"author":24,"featured_media":32788,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[95],"tags":[],"class_list":["post-48985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-europe-immigration"],"acf":[],"_links":{"self":[{"href":"https:\/\/porticoandbridge.com\/en\/wp-json\/wp\/v2\/posts\/48985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/porticoandbridge.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/porticoandbridge.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/porticoandbridge.com\/en\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/porticoandbridge.com\/en\/wp-json\/wp\/v2\/comments?post=48985"}],"version-history":[{"count":1,"href":"https:\/\/porticoandbridge.com\/en\/wp-json\/wp\/v2\/posts\/48985\/revisions"}],"predecessor-version":[{"id":48986,"href":"https:\/\/porticoandbridge.com\/en\/wp-json\/wp\/v2\/posts\/48985\/revisions\/48986"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/porticoandbridge.com\/en\/wp-json\/wp\/v2\/media\/32788"}],"wp:attachment":[{"href":"https:\/\/porticoandbridge.com\/en\/wp-json\/wp\/v2\/media?parent=48985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/porticoandbridge.com\/en\/wp-json\/wp\/v2\/categories?post=48985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/porticoandbridge.com\/en\/wp-json\/wp\/v2\/tags?post=48985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}