Is your New Year's resolution to travel more, but you're in need of a passport? Well, securing the most necessary part of planning a dream international trip may have just gotten a bit easier.
11.12.2024 - 00:33 / euronews.com / Pedro Sanchez / Joanna Bailey
Last month, Spain’s controversial Golden Visa programme looked set for abolition when the country’s Congress approved a bill to scrap the scheme. At the time, it was thought the ban could come into effect as soon as January 2025.
But the bill has hit a snag, which could see a ban delayed for several months, or even abandoned altogether.
Check out our full guide to Europe's golden visas and the countries that have already banned them.
The Spanish Senate vetoed the ban in a hearing on 2 December, batting the bill back to Congress. While the Senate’s opposition will certainly delay the process, it cannot block it entirely, as Congress retains the power to override the veto.
Part of the disagreement over the ban is political: the Senate is controlled by the centre-right party, the Partido Popular (PP), while Congress is in the hands of Prime Minister Pedro Sanchez and his coalition government of the centre-left Spanish Socialist Workers' Party (PSOE) and radical left-wing Unidas Podemos. Disagreements here are natural.
However, there was also concern over the way that the Spanish government had tried to push through the bill, known as the Judicial Efficiency Bill. At the heart of the bill are rules around expedited trials for cases of illegal squatting, with the Golden Visa ban tacked on as an extra.
According to the Official Gazette of the Spanish Parliament dated 2 December, the PP's rationale for the veto revolved around the government’s failure to employ “proper legislative drafting techniques”. It argued that the simultaneous processing of two legislative projects affecting the same laws would create confusion, calling the bill “a hodgepodge of uncoordinated legislative amendments”.
Dr Jacinto Soler-Matutes, Senior Partner at Emergia Partners - a company focused on business development in emerging markets - told Investment Migration Insider that Congress could ratify the ban in any one of its forthcoming plenary sessions scheduled in December, with publication in the Official Gazette in early January. “We must count on the Spanish Golden Visa finally phasing out around April 1,” he added.
As would be expected, applications for the Golden Visa programme have ramped up significantly since its abolition was first announced last April. But visa approvals are also on the up, with the rate moving from an average of 69 per month between January and March to 95 per month from April to October.
In total, 2024 has seen 780 Golden Visas granted up to the end of October, with 573 of those granted since the abolition announcement was made.
Aside from the ban announcement, general interest in the programme has spiked in recent years. Permits for investors remained under 1,000 per year from introduction in 2013 through to
Is your New Year's resolution to travel more, but you're in need of a passport? Well, securing the most necessary part of planning a dream international trip may have just gotten a bit easier.
This as-told-to essay is based on a conversation with Emily San José , co-founder of Mother Euro , a community for moms moving abroad. It has been edited for length and clarity.
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