Spain´s Golden Visa is not dead just yet. The Spanish Senate vetoed a bill which would have put an end to it and the bill now has to return to Congress again for further discussion,
In April this year, Spain announced plans to scrap its Residency by Investment scheme or Golden Visa. It allows Britons and other nationalities from countries outside the European Union to move to Spain with few paperwork problems providing that they buy a home worth more than 500,000 euros or making a big investment.
So far this year year 573 golden visas have been issued through the real estate investment option, which is the most sought-after option of this programme.
The scheme has proved popular with Britons who faced more paperwork when moving to Spain as a result of Brexit. According to the Spanish government hundreds of Golden Visas have been issued to Britons.
The British are still one of the major foreign buyers of property in Spain despite the fact that non-residents can only spend 180 days a year in the country.