The abolishment of Spain's golden visa scheme has made headlines abroad, largely because it falls in line with other EU countries' clampdown on schemes which allow foreigners to 'buy' EU residency.
The Spanish government's main reasoning for getting rid of the scheme was that golden visas are allegedly contributing to the country's housing crisis, raising concerns among citizens.
The end of the golden visa scheme essentially means that the most flexible and carefree residency option Spain offered non-EU nationals will cease to exist, affecting future investors.
For existing golden visa holders, the cancellation won't be retroactive, allowing them to continue enjoying the benefits without the strain of application requirements.
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