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Spanish Government Plans to Tighten Golden Visa Program Requirements for Real Estate Purchases

In a recent development, El País has reported that the Spanish government is considering stricter regulations for its golden visa program, particularly concerning real estate investments. The current minimum investment requirement of EUR 500,000 for the program’s real estate option is being deemed outdated and insufficient, especially in major cities where properties in this price range are no longer considered luxurious.

According to sources within the Ministry of Inclusion, Social Security, and Migration, the government has recognized the need for revisions and is engaging in discussions with the Ministries of Economy and Transport. Additionally, negotiations are taking place with Más País, a left-wing political party that has previously proposed the elimination of the real estate option due to concerns over rising property prices.

Although Más País has failed to garner legislative support for their proposal, they maintain open channels of communication with the government, expressing their commitment to exploring legal avenues to address the issue. The Ministry of Economy has expressed a willingness to discuss the matter but clarified that negotiations are still in their early stages.

Insiders familiar with the ongoing discussions have revealed two potential options being considered by the government.

1️⃣ The first option involves aligning the minimum investment requirement for real estate with the program’s other options, such as bank deposits and business investments, potentially raising it to a minimum of EUR 1 million.

2️⃣ The second option under consideration is the complete removal of the real estate option, redirecting investments toward more economically productive sectors.

These potential changes to the golden visa program could significantly impact individuals seeking residency in Spain through real estate investment. It is crucial to stay informed about the progress of the negotiations and the decisions made by the Spanish government regarding the future of the program.

Source: El País

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