Between 2018 and 2022, a total of 3,060 golden visas were granted, of which 1,302 were awarded to Chinese citizens. Countries such as Mexico, China, and Venezuela are among the top 10 nations whose citizens have acquired Spanish nationality through this program.
In this context, it is noteworthy that 114 Mexican entrepreneurs and politicians, including figures like Carlos Salinas de Gortari and Enrique Peña Nieto, have obtained Spanish nationality through the acquisition of properties or investments in Spanish companies.
Spain has decided to eliminate the golden visa, which allowed foreigners who invested a specific amount in properties or stocks to obtain nationality. President Pedro Sánchez announced the elimination of this program at the end of the year, partly motivated by the price distortions it generated in the real estate market.
Other countries such as Cyprus, Australia, Ireland, Portugal, and Greece have also adjusted or eliminated their golden visa programs due to similar issues. In some cases, the investment required to obtain citizenship has increased significantly.
It is noteworthy that the majority of applicants for these visas come from China and Russia, with Chinese citizens being the most frequent applicants for this type of program in Europe. This has led the European Commission to urge member countries to put an end to these programs, citing security risks and economic distortions.
Over the years, the granting of golden visas has been used as a way to attract foreign investments and reactivate real estate sectors hit in various European countries. However, the concerning increase of Chinese investors has led to the review and elimination of these programs in several countries, marking a trend at the European level.
