Prime Minister of Spain, Socialist Pedro Sanchez, announced that the Council of Ministers would consider amending a law approved by the conservative People’s Party in 2013 that allows get a residence permit if you invest in houses in Spain worth more than half a million euros.

He is known as “Golden visa” or “golden visa” which allows you to have a residence if you invest at least this amount in real estate.

Sánchez said his government was going to take measures that were “necessary” to guarantee housing construction. “to be a right, not just a speculative business.”

He also insisted that currently 94 out of every 100 visas of this type are related to real estate investments. and they are concentrated in the capital and cities of the Mediterranean coast, as well as on the Balearic Islands.

“That is, precisely those territories and cities that are facing an extremely tight housing market and where is it it is almost impossible to find decent housing for those who live and work in them and pay taxes every day,” the Prime Minister emphasized.

He noted that the measure is another step in the Executive Branch’s unprecedented investment efforts in housing access, which began with a “historic” allocation of housing to state budgets and that “multiplies by seven” the amount his government found when it came to power in 2018.

To obtain a Golden Visa or residence permit for non-EU foreigners requires significant capital investmenteither when purchasing real estate in Spain worth more than half a million euros, either in the form of financial assets or in a business project.

They can also apply for a visa or residence permit if they are investing in financial assets by filing an initial investment of an amount equal to or greater than €2 million in Spanish government debt securities or one million euros in shares or social participations in Spanish companies with actual commercial activities.

Also if they invest one million euros in investment funds or one million euros in bank deposits in Spanish financial institutions or if they are developing a business project in Spain of general interest.

Pena Nieto and his residence in Spain as an investor

In September 2022, the Spanish government assured that former Mexican President Enrique Peña Nieto residence permit in Spain as an investor, although he denied that he was provided with one of the so-called “golden visas”

He also said without knowing the total investment amount that the former president has in the Iberian country.

Agency Europe Press had access to the parliamentary response to a question from E. H. Bildu deputy John Iñárritu, in which the government assured that “There is no evidence of the existence of any visa requested or issued in the name of Peña Nieto.”

A Basque MP asked if the former president received one of the calls Golden Visa for Investors and he was interested to know what investments he made in Spain to gain access to this reserved visa. a priori large investors.

In his response, the manager noted that Pena Nieto “is the holder of a residence permit as an investor” in accordance with the 2013 law on the support of entrepreneurs and their internationalization.

The said law, he stated, “permits this type of permit, among other things, property owners in Spain with investments in an amount equal to or exceeding 500 thousand euros” and meeting other requirements.

As for Pena Nieto, “The interested party accredited investments in the amount of 570 thousand euroswithout any fees or encumbrances, in a commercial premises located in Madrid.”

In the same month A country it turned out that Enrique Peña Nieto was trying to obtain a residence permit exceptional cases not covered by Spanish immigration rules.

The media note that Spanish authorities They didn’t process Pena’s request.“for failure to comply with the requirements necessary for this.”

According to media reports, Peña Nieto wanted to take advantage of an additional provision of the Rules of Immigration Law, which allows the public administration to issue permits without following normal procedures and thereforeexceptional circumstances of an economic, labor or social nature that make it advisable.

“The administration typically uses this discretionary figure to assist the most vulnerable foreigners affected by disease or violence. This formula has also been used to reward some heroic actions of irregular immigrants. In the case of Pena Nieto, the administration felt that “There were no exceptional circumstances that would justify the former president bypassing the normal channels,” he said. mentions the report.

Having received a refusal from the Spanish government, Pena Nieto decided decide to buy a property worth more than half a million euros and thus comply with legal requirements.

At the beginning of August 2022, FGR announced that it had opened three investigations against Pena Nietoone for money laundering, another for alleged election crimes and another for illicit enrichment.

On July 8 of the same year, former President put his luxury apartment in Madrid up for sale, which was purchased in 2020.

You might be interested > Luxury at the entrance and Penelope Cruz as a neighbor; This is the division where EPN lives in Spain.

This is after the head of the Financial Intelligence Unit (UIF), Pablo Gómez, announced the transfer to the General Prosecutor’s Office (FGR) during a morning conference at the National Palace. information about possible transactions with resources of illegal origin associated with the former president.

Spain is the focus of attraction for foreign investors

The appetite of Latin American wealth for Spain, and primarily for Madrid, has not ceased to grow in recent years, turning the capital into the “Miami of Europe”. After the Venezuelans and Mexicanswho have been very active in recent years, now it’s their turn Argentines, Chileans or Colombians.

But it is not only Latin Americans who have made Spain the center of their real estate investments. Americans too very active in recent months.

Chinese and Russians They were among the foreign nationals who benefited the most from this golden visa.

(according to information from EFE And Aristegui News)