Posted February 20, 2023 & filed under marbella golden visa marbella luxury real estate marbella property investment marbella real estate portugal ends golden visa portugal golden visa schengen visa spanish golden visa
Portuguese Prime Minister António Costa has announced the end of Portugal Golden Visa program, which allowed foreigners to obtain residency permits by making investments in real estate. The program has been a significant contributor to the country's economy and the real estate sector over the last decade. However, Mr. Costa has argued that the program has led to real estate speculation and has decided to put an almost definitive end to it.
While Portugal Golden Visa program may no longer be available, investors still have the opportunity to apply for the Spanish Golden Visa, which is a similar program that allows for residency in Spain for those who invest in Spanish real estate. To obtain the Spanish Golden Visa, candidates must make a significant investment in Spanish property, such as purchasing a property for over €500,000 or investing in other real estate assets.
Investing in Spanish property through the Spanish Golden Visa program can offer significant benefits for investors. In addition to the attractive conditions of the country, investors will have the freedom of movement within the Schengen area and the possibility of bringing their families. This program is an excellent opportunity for those looking to obtain residency in Spain and make a significant investment in Spanish real estate.
As Spain and Portugal are neighbouring countries, investors who are interested in the Spanish Golden Visa program can take advantage of the geographical proximity and invest in Spanish property without any hassle. Moreover, with the Spanish Golden Visa, investors can enjoy the benefits of Spanish residency and have access to the country's healthcare system, education system, and other public services.
In conclusion, Portugal ends its Golden Visa program for real estate investors, but investors still have the opportunity to apply for the Spanish Golden Visa. If you're interested in making a property investment and obtaining Spanish residency, don't hesitate to contact Xcape today! Our team can provide you with all the necessary information and help you navigate the process of making a successful property investment in Spain.