Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Spain will scrap 'golden visas' that allow wealthy non-EU residents to stay if they buy real estate By: FOXNews.com April 08, 2024 at 13:54 PM EDT Spain's government plans to scrap 'golden visas' that allow people from outside the EU who invest more than 500,000 euros in real estate to obtain residency permits. MADRID (AP) — Spain's government said Monday it plans to scrap so-called "golden visas" that allow wealthy people from outside the European Union to obtain residency permits on investing more than half a million euros (dollars) in real estate.Socialist Prime Minister Pedro Sánchez said his minority coalition government would study the reform in the weekly Cabinet meeting Tuesday.CRUISE SHIP STRANDED IN SPANISH PORT RESUMES SAILING AFTER REMOVAL OF PASSENGERS WITH VISA PROBLEMSSpeaking Monday, Sánchez said the reform was part of the government's push to make housing "a right, not a speculative business."The government says some 10,000 such visas have been issued since the measure was brought into law in 2013 by a previous right-wing Popular Party government as a means to attract foreign investors."Golden visas" are strongly criticized for spurring property price hikes and speculation in the housing sector. Soaring house prices have long been a major problem for many Spaniards, particularly in the country’s major cities. Related Stocks: Fancamp Exploration Ltd Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Spain will scrap 'golden visas' that allow wealthy non-EU residents to stay if they buy real estate By: FOXNews.com April 08, 2024 at 13:54 PM EDT Spain's government plans to scrap 'golden visas' that allow people from outside the EU who invest more than 500,000 euros in real estate to obtain residency permits. MADRID (AP) — Spain's government said Monday it plans to scrap so-called "golden visas" that allow wealthy people from outside the European Union to obtain residency permits on investing more than half a million euros (dollars) in real estate.Socialist Prime Minister Pedro Sánchez said his minority coalition government would study the reform in the weekly Cabinet meeting Tuesday.CRUISE SHIP STRANDED IN SPANISH PORT RESUMES SAILING AFTER REMOVAL OF PASSENGERS WITH VISA PROBLEMSSpeaking Monday, Sánchez said the reform was part of the government's push to make housing "a right, not a speculative business."The government says some 10,000 such visas have been issued since the measure was brought into law in 2013 by a previous right-wing Popular Party government as a means to attract foreign investors."Golden visas" are strongly criticized for spurring property price hikes and speculation in the housing sector. Soaring house prices have long been a major problem for many Spaniards, particularly in the country’s major cities. Related Stocks: Fancamp Exploration Ltd