UK tourists 'put off' by new Spain entry rules and 'will switch to Greece or Italy'

UK tourists face new Spain visa rules - amid the end of a so-called Golden Visa scheme in the European Union holiday hotspot. Nicky Kelvin, Editor at Large at The Points Guy, has broken down Spain’s decision to end its Golden Visa program.

He told the Express newspaper in the UK this week: "Spain is closing the door on its 'residency-by-investment' scheme. This program, launched in 2013, allowed non-EU citizens to get a Spanish residency permit (and thus freedom of movement within the Schengen Area) by investing heavily in the country, most commonly through property purchases of €500,000 (£416,050) or more.

"The Spanish government argues the scheme has inflated property prices, making homes less affordable for locals, particularly in popular areas like Barcelona, Madrid, and the coastal regions. They want to cool down the market and prioritise housing affordability for Spanish citizens.

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"While the Spanish government announced its intention to end the scheme in April 2024, the final law will likely come into effect in January 2025. Applications submitted before the final implementation date are expected to be honoured."

Mr Kelvin continued and said: "Some Brits might be put off by the change and choose to invest in Golden Visa programs in other countries, such as Greece, or Italy. However, it’s worth noting that the EU is generally pushing back against these schemes, so the landscape could shift further.

"While news of visa changes can sometimes cause confusion, it’s important to clarify that these Golden Visa adjustments won’t impact the average British tourist. If you’re planning a holiday to Spain, your standard tourist visa arrangements remain unchanged. Spain continues to welcome British visitors with open arms."

The Golden Visa offered a no minimum stay time but now people may choose to visit the country less often, he went on to explain.