Since Brexit, many Britons have opted for golden visas as the process is easier than many of the other routes available. The programme awards non-EU citizens investing at least €500,000 (£429,000) in Spanish real estate, allowing them to live and work in the country for three years. Prime Minister Pedro Sánchez has announced that the Spanish government will grant residency rights to British people and other foreigners who make large investments in property in the country.
The government plans to eliminate the scheme, which is primarily linked to real estate investment in major cities like Barcelona, Madrid, Malaga, Alicante, Valencia, or Palma de Mallorca, due to the highly stressed housing market in these areas. The formal process to eliminate the scheme will be launched after studying a report submitted by the Housing Ministry