What about the Golden Visa in Spain?
In April of this year, the Spanish Prime Minister, Pedro Sánchez, announced through the media his intention to to end the Golden Visa regime for investment in real estate, in effect in the country since 2013. The reason for the measure, authorities stated, was to combat real estate speculation and improve access to housing for people.
The "Golden Visa" was established in Spain to attract foreign investment. In that respect, the policy has been successful: between 2013 and 2023, more than 14.000 such visas were granted, mostly for real estate investments, according to authorities.
Although some media outlets reported an imminent end, the truth is that, having been created by law, The Golden Visa can only be terminated through the same channel.This implies processing times ranging from six months to a year. Until then, the regulation remains fully in effect.
Recently, another event occurred that adds further uncertainty to the timeline. In mid-May, the Spanish government had to withdraw its draft reform to the Land Law, an initiative that, among other things, included a partial amendment to eliminate the Guaranteed Value (GV) for real estate investment, as reported. Infobae.
In practice, this delays (again) the legislative debate on the issue and reinforces the uncertainty about when that discussion will take place. It could be reintroduced into the land-use regulations at the parliamentary level in a few weeks, or the government could pursue another related bill to include a similar amendment.
Until this happens, it must be clear that The possibility of obtaining a Golden Visa through real estate investment is entirely validIf you have already started this process, your option is not threatened and will continue to be processed.
At AIM Global, we urge everyone to remain calm in the face of the current situation. It is not uncommon for legislation regarding these types of visas to change. This has happened on several occasions in Portugal y GreeceAnd as already mentioned, the processing of these laws takes time.
On the other hand, if you're interested in investing under the current Golden Visa conditions, our advice is to join the program as soon as possible, before the imminent change in the law. This way, you can rest assured that the law will not have retroactive effects: the conditions in place at the time of application will be honored.
We have a group of experts in Chile and Europe ready to give you the best advice, both in legal and immigration matters, as well as in real estate investment opportunities.
Schedule a meeting with us now. We are specialists in international mobility.
