SPAIN TO END GOLDEN VISA PROGRAM SOON: The Golden Visa program in Spain is coming to an end in the near future. For now, it is still possible to apply under the current rules. A bill to terminate the program is anticipated to be published before December 31, 2024. If the draft is approved, a three-month window will be available to complete pending applications. Further information can be found in our article here.
During the last weeks we have been receiving many enquiries from our British business clients (and to the same extent, from other countries as well) expressing concerns over the political situation in Barcelona and how it may affect their businesses.
There were few weeks when it was rather difficult to predict how the situation would turn out, and surely every business in Catalonia was worried what bearing it would have on them.
Well, among the hesitation of political forecasts and toxic publications in certain media, it was a breath of fresh air to attend this morning the III Barometer on Climate and Outlook for British Investment in Spain.
The data analysed has not yet reflected the statistics of 3Q17, but the speakers expressed optimism and hope that the decades of fruitful British investment in Spain and the general positive business climate together with attractive lifestyle and talent market in Barcelona will contribute to soften the socio-political impact.
According to the study announced today, the UK is the second most important investor in Spain, after USA. British investment has proved resilient to political uncertainty. A year on from the Brexit referendum, British investment flows into Spain have remained at normal levels. Since the start of the economic recovery (2013-Q217), British FDI in Catalonia represented €735m and the graphs show stability of inflows into Catalonia throughout this period.
