🇪🇸 End of Golden Visas in Spain 🇪🇸 announced Jan. 2025 will take effect 3 months after publication

🇪🇸 End of Golden Visas in Spain 🇪🇸

🗓️ Published by BOE: The Official State Gazette (BOE) has announced the end of ‘Golden Visas’ starting in April. These visas, approved during Mariano Rajoy’s administration, allowed non-EU residents to obtain residency by investing more than €500,000 in Spanish property.

⚖️ New Law Details:

• The law, published this Friday, is part of measures to improve the efficiency of the Justice Public Service and will take effect three months after publication.
• It repeals Articles 63-67 of Law 14/2013, which defined the conditions for obtaining the Golden Visa.

👨‍👩‍👧 Transitional Provisions:

• Existing visas or those applied for before the law takes effect will remain valid.
• Renewals will follow the rules in force at the time of the initial authorization.

💰 Previous Investment Criteria:
Golden Visas were not limited to real estate. Article 63, now repealed, allowed visas for investments such as:

1. €2 million in Spanish public debt.
2. €1 million in shares of Spanish companies with active business operations.
3. €1 million in Spanish investment funds or bank deposits.
4. Entrepreneurial projects in Spain deemed of general interest.

📜 Repealed Articles:

• Article 64: Investment certification methods.
• Article 65: Effects of residency visas.
• Article 66: Residency authorization for investors.
• Article 67: Duration of residency authorization.

👀 Government’s Focus:

• Ending Golden Visas has been a priority for the Government since the last legislature.
• Former minister José Luis Escrivá and President Pedro Sánchez both expressed the intention to revise or eliminate the visa.
• The final legislation was introduced through a last-minute amendment during the Justice Service Efficiency Bill discussions.

🔒 Controversy:

• The amendment was approved behind closed doors while PP representatives were absent due to the DANA tragedy.

🌍 Impact: The repeal marks a significant policy shift, aiming to limit speculative investments while retaining protections for prior applicants

🌍 Understanding the European Union (EU) 🇪🇺

The European Union (EU) is a unique economic and political union of 27 member states, primarily located in Europe. It functions through supranational independent institutions and intergovernmental decisions made by member states.

Key institutions include:

• European Commission
• Council of the European Union
• European Council
• Court of Justice of the European Union
• European Central Bank
• European Parliament, elected every five years by EU citizens 🗳️

📍 The EU’s de facto capital is Brussels.

🏡 Free Access with Property in Spain 🌟

Purchasing property in Spain grants you free and unlimited access to the following 27 EU member states, with no need for a visa:
🇦🇹 Austria, 🇧🇪 Belgium, 🇧🇬 Bulgaria, 🇨🇾 Cyprus, 🇨🇿 Czech Republic, 🇩🇰 Denmark, 🇪🇪 Estonia, 🇫🇮 Finland, 🇫🇷 France, 🇩🇪 Germany, 🇬🇷 Greece, 🇭🇺 Hungary, 🇮🇪 Ireland, 🇮🇹 Italy, 🇱🇻 Latvia, 🇱🇹 Lithuania, 🇱🇺 Luxembourg, 🇲🇹 Malta, 🇳🇱 Netherlands, 🇵🇱 Poland, 🇵🇹 Portugal, 🇷🇴 Romania, 🇸🇰 Slovakia, 🇸🇮 Slovenia, 🇪🇸 Spain, 🇸🇪 Sweden, 🇬🇧 United Kingdom.

🌍 Who Needs a Schengen Visa to Live or Study in Europe? 🏫✈️

If you’re not a European citizen and plan to study 📚 or live 🏡 in Europe, you may need to apply for a Schengen Visa. Keep in mind:

• For stays of 90+ days, you’ll also need a residence permit 🛂.

📩 Contact me for full details!

Best Regards

“A man who stops advertising to save money is like
a man who stops a clock to save time.” – Henry Ford

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