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April 10, 2024

Spain to end Golden Visa scheme for foreign real estate investors

The Spanish government announced its intention to stop issuing Golden Visas to foreign nationals who make qualifying investments in Spanish real estate. As announced by the Council of Ministers on 9 April 2024, the Spanish government decided to stop issuing Golden Visas to investors in real estate in order to guarantee housing for Spanish citizens and address rising property prices. Individuals can still qualify for Golden Visas if they invest at least EUR 2 million in public debt or stocks, or EUR 1 million in investment funds or deposits.

A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.

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Full text of Tax Alert