Spain Ends Golden Visas Scheme

Starting this April Spanish authorities will stop issuing golden visas, which grant residency permits in exchange for investments, the Official State Gazette reported.

Residency permits already issued will remain valid until they expire. Applicants who submit their requests before the amendments take effect will still be able to obtain residency.

Most investors secured residency permits by purchasing real estate worth €500,000. Others gained them by investing in shares of private or public companies.