EXPLAINED: How Spain has found a way to officially axe its golden visa
After failing in its first attempt to pass legislation that would officially end the golden visa for wealthy foreigners, Spain’s government has now found a loophole they believe will work to cancel the controversial scheme once and for all.
It’s been more than three months since Pedro Sánchez announced that his government would get rid of the golden visa for non-EU nationals, as part of plans to address the country’s housing crisis.
However, the left-wing Spanish government has been unable to find the parliamentary support needed for the scheme to be legally revoked.
Spanish Housing Minister Isabel Rodríguez had initially planned to include an amendment in the country’s new land law, known as the Ley del Suelo in Spanish, but it was withdrawn from the agenda in Congress as it did not have the necessary support to move forward.
Yes, the golden visa is about to be axed, read all the guidelines before making your purchase. “caveat emptor”