According to the law adopted by the Senate and the Assembly last November and published in the Official Gazette on January 3, the “golden visa” application ends as of April 3.
Due to the economic crisis, with the practice that came into force in 2013 with the decision of the right-wing government of the time, citizens of non-EU countries who bought a house worth more than 500 thousand euros or invested more than 1 million euros were given a “golden visa”.
15 THOUSAND 300 PEOPLE BENEFITED
According to statistics, approximately 15,300 foreign investors have benefited from the “golden visa” in Spain so far.
While 96 percent of those who benefited from the application did so by purchasing real estate, looking at the list of foreign citizens who benefited from it, China, Russia, Iran, the USA and Venezuela were in the top 5.
THE REASON IS THE HOUSING CRISIS
Meanwhile, it was reported that those who applied before the law came into force can also benefit from the “golden visa”.
The current left-wing coalition government wanted to end the “golden visa” application due to the housing crisis in the country in recent years, which reduced the purchasing power of Spaniards. (AA)