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Golden Visa residency permits now officially available

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spanish golden visa residency by investmentThe bill giving residency permits to property investors from outside the EU has been published in the official gazette, and is now law.

The law has been approved by Parliament, signed by the King, and published in the official gazette, called the Boletin Oficial del Estado (BOE), which means it is now in force.

Publication in the official gazette reduces any uncertainty for foreign investors. They can now be sure of qualified Spanish residency if they meet the criteria of the investment, as explained in this guide to Spain’s Golden Visa residency by investment scheme. Up until now there was still a small chance of last minute changes to the law, a risk that has now disappeared.

There was some doubts about how long the King would take to sign the new law, after he went into hospital for a hip operation. Fortunately it appears there were no adverse effects on his signature hand.

I expect this new law will help attract some fresh capital to Spain, and will certainly be good for business in upmarket niches in prime areas of Barcelona, Madrid, and the best-known coastal resorts like Marbella, Ibiza, and Palma de Mallorca. But it won’t do much to help sort out the bigger mess of Spain’s real estate market, which the Government is making much worse with high taxes on property transactions.

One thought on “Golden Visa residency permits now officially available”

  • La Vida Spain says:

    It means more for international investors looking for a flexible travel visa in Europe than it does for the Spanish property market. It is the best offering in Europe for an investor visa and Spain is more attractive than the likes of Bulgaria, Cyrpus and Greece. But a few hundred property sales are not going to move the market in Spain too much particularly as we are talking about €500,000+. (Portugal achieved just over 100 visas in the first year of the Golden Visa offering). This is a niche market for sure. We expect more interest than Portugal as Spain is undoubtedly an all round more attractive option. The limit which can be applied to a portfolio of properties will help at the lower levels. But again this is still niche when considering the market in Spain as a whole.

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