If you're considering Spain as your future residence through investment, it's crucial to act swiftly. The government has already eliminated the real estate option, and there are talks of scrapping the entire Spanish residency by investment program.

They eliminated the Spanish residency by investment program's real estate option because, according to the analysts, the scheme continues to drive up the residential real estate market prices. However, the government closed the most attractive real estate option in April 2024; the other options still modify the market, according to the government.

Since the program's launch in 2013, more than 15,000 wealthy investors have become EU residents by investing more than half a million euros in Spain. Most of these investors arrived from Russia, which is considered a security threat, and now add to the price-push phenomenon.

The fate of the Spanish residency by investment program hangs in the balance. The autumn session of the Spanish legislature begins on September 6th, but it's uncertain whether the parliament will prioritize the abolition of the program, despite the socialist government's eagerness to amend the law. The program is not officially discontinued, but its future is in the hands of the legislators.

What are the remaining options for Spanish residency by investment program?

According to the not updated governmental portal, you can become a Spanish resident in exchange for the following investment activities:
Financial assets, by making an initial investment of a value equal to or greater than:

• Two million euros in Spanish public debt securities or,
• One million euros in shares or equity investments in Spanish companies with an actual business activity or
• One million euros in investment funds, closed-end investment funds or venture capital funds incorporated in Spain, included within the scope of application of Law 35/2003, of November 4th, on Collective Investment Institutions, or Law 22/2014, of November 12th, regulating venture capital entities, other closed-end collective investment entities, and amending Law 35/2003, of November 4th, or
• One million euros in bank deposits in Spanish financial institutions.
  
  

What to do if the Spanish government cancels the residency by investment program?

Spain and Portugal cancelled their residency's real estate purchase option by investment programs. Only Greece and Hungary maintained this solution as part of the most popular EU schemes.
If you wish to become an EU citizen and obtain a residential property, please consider the brand-new Hungarian Guest Investor Program. This program offers a similar opportunity to the Spanish Golden Visa, allowing you to obtain EU residency through investment. You can find the details here. 

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