Earlier this month, the Spanish Senate vetoed the bill. However, obtaining an absolute majority in Congress allowed him to be removed.
The resolution will enter into force after publication in the Official State Gazette (BOE). Thus, there is enough time to participate in the program, there is less left.
Plans to curtail the investment residence permit program became known in April 2024. The initiative was announced by Prime Minister Pedro Sanchez, who said that "Spain will take all necessary measures to make housing a right and not just a speculative business."
Spain's Golden Visa program makes a significant contribution to the country's economy. In the first ten months of this year, the authorities issued a total of 780 golden visas, with an average investment of 657,204 euros per applicant.
Source: SchengenNews