Golden Visa Programs and Britons investors: why are Britons attracted more towards Spain and Portugal?
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by UK Immigration Law Firm in India & UK
Published on: 04th June 2022
Reading time: Approx 4 mins
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The number of Britons seeking residency in Spain under the Golden Visa Program has increased significantly. Let’s understand more about Golden Visa Programs and Britons investors.
Both Brexit and the predicament generated by the Coronavirus and its new strains play a significant influence in this regard.
A Spanish Golden Visa grants admission to the rest of the Schengen zone as well as a residency in Spain. It’s something that Britons haven’t had to worry about in the past, but Brexit has resulted in a significant increase in interest of families looking to keep access to the Eurozone through a residential property purchase.
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Interesting read – Why Portugal is the best country to visit for Britons?
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In addition to Spain’s Golden Visa Program, the Portuguese Golden Visa Program, too, has piqued British attention.
The ramifications of spending time in Portugal following Brexit have increased the number of UK individuals interested in the Golden Visa Program.
Third-country nationals are allowed to stay in Spain under the Golden Visa Program if they invest at least €500,000 in Spanish real estate and meet certain criteria. Internationals may be able to legally live and work in Spain after making such an investment. They will also be able to freely travel throughout the Schengen zone.
Despite the fact that the Golden Visa Program attracts more international people, it is a door to money laundering, corruption, and other illegal issues by the Commission of the European Union as well as many organizations who have often urged countries that run such schemes to terminate them.
In this regard, earlier this month, the Commission of the EU made certain changes that must be made by the Member States that outlined particular amendments that, the Member States who offer such schemes must impose in order to prevent people involved in criminal affairs from benefiting from them.
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The SmartMove2UK is one of the leading UK immigration law firm in India. For over 2 decades, we have been assisting people with UK immigration and nationality laws.
Our clientele base is spread over 26+ countries, with 1,000s of success stories. If you are looking for assistance in applying for a UK visa, you can book a consultation with our immigration experts.
You can contact us on the below given options:
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