Investment Property

Spain weighs crackdown on golden visa rules for real estate investors

Countries across the European Union are re-evaluating their golden visa programs with Ireland shutting down its scheme in February

Last year, Spain issued almost 2,500 permits to investors who bought a home for more than €500,000, which accounted for 94 per cent of the new authorisations. Picture: Getty

Spain is weighing tighter rules on issuing golden visas to foreign investors, newspaper El País reported on Monday, citing people at the social security ministry it doesn’t identify.

Current rules grant 3-year residence permits to foreign citizens who spend at least €500,000 to buy a house in the country. Foreigners can also receive a golden visa by investing at least €1 million in shares or more than €2 million in Spanish treasury bonds.

Last year, ...