Madrid (Agencies): Spain has announced the termination of its Golden Visa program, an initiative that has attracted thousands of foreign investors since its inception in 2013. The majority of these investors have been involved in real estate purchases.

The Golden Visa program was designed to attract foreign capital into Spain, offering residency permits to non-EU investors in return for a significant investment in the country. Real estate has been the most popular investment choice for these investors, contributing to a boom in Spain’s property market.

However, the decision to end the program indicates a shift in Spain’s approach to foreign investment. The reasons behind this decision have not been explicitly stated, but it could be due to a variety of factors, including changes in economic conditions, regulatory concerns, or a desire to focus on other types of investment.

The termination of the Golden Visa program will likely have significant implications for Spain’s real estate market. It remains to be seen how this decision will impact foreign investment in Spain and the broader economy. The government’s future strategies to attract foreign investment will also be keenly watched in the aftermath of this decision.

By Media

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