The Spanish Prime Minister has announced plans to end the so-called 'golden visa' scheme in a major blow to thousands of British expats.
The Spanish Prime Minister has announced plans to end the so-called 'golden visa' scheme in a major blow to thousands of British expats. Pedro Sánchez said on Monday that the scheme will be ended as the government seeks to prioritise affordable housing for Spaniards, rather than 'speculative business'. The scheme currently allows non-EU citizens who invest around half a million euros in Spanish property to live and work there for three years.
Wealthy foreigners, many of whom were Brits, were encouraged to invest in Spanish real estate. But it has been under increasing pressure from the European Union after Brexit, which marked the end of freedom of movement.
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