Every policy shift and every increase in thresholds seems like a series of warnings, revealing an unrelenting fact: the doors to immigration will not remain open forever! A continuous storm of policy changes constantly reminds us that the path to immigration cannot be delayed; any procrastination is a waste of opportunity, which may lead to missing out on favorable chances.
On November 14, 2024, the Spanish Parliament passed an important bill proposing to abolish the "Golden Visa" to curb speculation in the real estate market, safeguard the housing rights of the public, and prohibit residency permits in exchange for investment.
Currently, the amended bill has been smoothly passed in the Parliament and will be submitted to the Senate. The Senate has 60 days to modify the submitted bill (which includes content related to investment immigration programs). After modifications are completed, the bill will be resubmitted to the Parliament for another vote. Following this process, the bill is expected to be officially enacted in February or March of next year.
Whether the Spanish government will terminate the investment legislation or adjust the existing legislation will only be known after the Senate's modifications. WorldWay Immigration will continue to monitor the situation and share any new information promptly.
Since its launch in 2013, the Spanish Golden Visa program has attracted a large number of foreign investors to invest in Spain, particularly in the real estate market. This policy allows non-EU residents to obtain Spanish residency permits through investment of a certain amount (such as purchasing property over 500,000 euros), providing investors with a convenient immigration pathway. Spain is a member of the European Union and Schengen Area, and is the fourth largest economy in the Eurozone, making its immigration status highly favored by many.
The news of Spain's policy change undoubtedly serves as a wake-up call for those hoping to immigrate to Europe through investment. Immigration cannot afford to wait; as time passes, prices rise, projects cease, and the desired immigration country's policies may no longer permit it, resulting in losses that extend beyond mere finances, including irreplaceable opportunities.
In fact, in recent years, there has been ongoing debate regarding the abolition of "investment immigration programs" or "golden passport programs" in Europe. Previously, the European Parliament proposed to terminate investment immigration policies by 2025.
Therefore, for those intending to immigrate to Europe, it is truly time to take action. Currently, Portugal and Greece are excellent choices. Submit your application early to start your new life in Europe!
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