Get free consultation
Fill out the form and we will contact you
In today's society, governments worldwide are enhancing control measures and anti-corruption efforts. Among these, Spain's cancellation of the Golden Visa is considered the optimal solution for the government to protect the country and maintain a more stable real estate sector. So how does the Spanish government balance the economy? Follow the article below for more information.
In the Spanish Golden Visa program, many foreign residents have invested their assets in real estate to successfully gain citizenship. However, the Golden Visa program has faced mixed opinions regarding the instability of the Spanish economy. Nonetheless, the benefits that the Golden Visa brings to immigrants cannot be denied.
The Spanish government introduced the Golden Visa program to boost the economy and promote foreign investment. According to a report from the Spanish Ministry of Housing, when the Golden Visa program was implemented, the value of house sales to foreigners reached 2.3 billion euros. This is an ideal investment amount to help Spain's economy develop positively.
The Spanish government cancels the Golden Visa
Additionally, when foreign investors pour capital into Spain, it increases job opportunities for locals and maintains stable income levels. Moreover, investors participating in the Spanish Golden Visa program will invest in new prominent projects that help improve infrastructure and boost the local economy.
Alongside the benefits of the Spanish Golden Visa program, there have been many debates and opposing opinions from politicians. In reality, the value of real estate transactions in Spain has been increasing, mainly focusing on major cities like Madrid and Barcelona. This inadvertently creates serious consequences such as a shortage of housing for locals and increased rent pressures.
Furthermore, the Golden Visa investment program has led to monopolies in the Spanish real estate market. With high values and benefits, foreign investors have many advantages. This drives up real estate prices, making it difficult for locals to afford housing.
The Spanish Golden Visa has both advantages and disadvantages
Currently, not only Spain is considering canceling the Golden Visa, but several other countries are also considering this residency investment program. Specifically:
In 2012, the Portuguese government introduced an investment policy to obtain the Golden Visa for immigrants. However, in 2020, the government decided to restrict investment values and introduced stricter regulations.
Similar to Spain, the Greek government has realized that foreign immigrants have invested up to 2 billion euros in real estate over seven years. However, this has led to an increase in value, causing political and economic imbalance. Therefore, at the end of 2021, the Greek government decided to adjust the investment amount for the Golden Visa immigration program.
The cancellation of the Golden Visa in Spain will have some impact on real estate models, the economy, and national security. Therefore, the Spanish government needs to apply several measures to minimize risks to the country when canceling this program.
After canceling the Golden Visa, the government needs to find suitable measures to stabilize the country
One of the measures that the Spanish government can apply after canceling the Golden Visa program is to reconsider issues in real estate investment policies, increase opportunities for local investors, and minimize reliance on foreign capital. This helps keep the real estate market balanced after Spain cancels the Golden Visa.
To reduce the situation of money abuse and laundering in the real estate sector, the government needs to establish security control solutions and handle violators. Moreover, setting up monitoring agencies and a strict inspection system for illegal activities will ensure transparency and clarity in the sector.
After canceling the Golden Visa, the Spanish government should cooperate internationally in fighting organized crime and money laundering activities in the real estate sector. This way, Spain can protect national interests and create sustainable strength for the real estate sector and the overall economy.
In summary, the Spanish government's cancellation of the Golden Visa aims to protect the economy and maintain national benefits. Hurry to participate in the investment program to obtain the Golden Visa as soon as possible before the cancellation law is officially enacted. You can contact https://quoctichthuhai.com/ for quick and accurate advice on the Spanish citizenship program.
Fill out the form and we will contact you