Spain has issued approximately 780 golden visas to foreign nationals from January to October 2024, according to recent government data.
Between January and March, Spain averaged 69 golden visas per month. However, from April to October, this monthly average rose to 95, as reported by Schengen.News. Despite the increase, the total number of visas remains well below the 2023 figure of around 3,200.
Since the program was launched in 2013, Spain has issued over 15,300 golden visas. For most years, the number of visas issued annually stayed under 1,000. This number surged to over 2,000 in 2022 and exceeded 3,200 in 2023.
The largest number of golden visa recipients are nationals from China, followed by Russia and the UK. Other top beneficiaries include individuals from the United States, Iran, Ukraine, Venezuela, and Mexico. The most popular route to obtain a golden visa is by purchasing property worth at least €500,000.
The Golden Visa Program, or Residency by Investment scheme, offers non-EU nationals the chance to gain Spanish residency through financial investments. The most common method for acquiring residency is by investing in real estate. To qualify, investors must purchase property valued at €500,000 or more.
However, the program’s real estate option has faced criticism for worsening Spain’s housing crisis. As a result, the Spanish government plans to remove this investment route entirely. In April 2024, Prime Minister Pedro Sánchez announced plans to end the real estate investment option, stating that the government would review a report on the issue in an upcoming Council of Ministers meeting.
The Golden Visa scheme was introduced in 2013 by the government of then-Prime Minister Mariano Rajoy, during Spain’s financial crisis, to boost the country’s economy.
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