Spanish Senate Blocks Golden Visa Repeal
The Spanish Senate has vetoed the bill to abolish the "golden visa." Now the bill will return to Congress. Deputies will have to finalize the amendment and vote again.
There are two possible scenarios:
1. Congress will immediately adopt the bill by an absolute majority of votes.
2. The bill will be approved by a simple majority of votes in two months.
Residence permits for investment in Spain will probably be abolished anyway. This initiative is supported by the majority of deputies in Congress. The final decision may be made by mid-December 2024.
The changes will come into force in mid-March 2025.
If you are planning to obtain a residence permit in Spain for investment, we recommend applying now. Foreigners have the right to buy real estate in the country, invest in business or securities. Contact Mercury Group experts for detailed advice!
You can choose verified real estate in Spain from the Mercury Group catalog. To qualify for a golden visa, you need to buy one or more properties worth at least €500,000.
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