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Can Catalonia Save the Golden Visa? Expert Analysis Gives Glimmer of Hope · IMI Podcasts

• 0:00
  SPEAKER_00: The Spanish government, led by Prime Minister Pedro Sanchez's Socialist Party, also known as PSOE, and the leftist Sumar Party, has submitted an amendment to Congress that would effectively eliminate the country's golden visa program.
• 0:16
  SPEAKER_00: The amendment aims to repeal Articles sixty three, sixty four, sixty five, sixty six, and sixty seven of the twenty thirteen law on support for entrepreneurs and their internationalization.
• 0:29
  SPEAKER_00: If approved, it would end the issuance of new golden visas for real estate investments and other options such as public debt, shares, bank deposits, funds, and business projects.
• 0:42
  SPEAKER_00: Dr.
• 0:43
  SPEAKER_00: Jacinto Soler Matutz, a senior partner at Emergia Partners, believes, quote, the weak position of PSOE in the Parliament means that it will be quite unlikely that this amendment succeeds, end quote.
• 0:58
  SPEAKER_00: He revealed that he and his team, quote, have spoken to the Catalan group that holds the key to the Parliament majority, and they will vote against it.
• 1:07
  SPEAKER_00: Even the more important 2025 budget law risks being withdrawn for lack of majority by the ruling government coalition, end quote.
• 1:17
  SPEAKER_00: Dr.
• 1:17
  SPEAKER_00: Sola Matutz explained that, quote, this party sees an opportunity to get a devolution of migration authorizations in a deep reform of law.
• 1:28
  SPEAKER_00: 14, 2014, something we have been claiming and working on for the past two years.
• 1:36
  SPEAKER_00: End quote.
• 1:37
  SPEAKER_00: Catalonia has considerable influence in the Spanish Parliament, mainly through its representation in the Congress of Deputies.
• 1:46
  SPEAKER_00: The region's political landscape includes various parties, such as Esquera Republicana de Catalunya, also known as ERC, Junts per Catalunya, often aligned with ERC on key issues, and Catalunya in Comu.
• 2:03
  SPEAKER_00: These parties can sway votes on national issues, especially regarding autonomy and regional governance.
• 2:10
  SPEAKER_00: Their support is often crucial for forming coalitions or passing legislation, especially in a fragmented political arena.
• 2:19
  SPEAKER_00: Catalonia's push for independence also complicates national politics, influencing sovereignty and regional rights debates.
• 2:28
  SPEAKER_00: Catalonia, particularly Barcelona, recognizes the value of golden visas, which, according to Dr.
• 2:35
  SPEAKER_00: Sola Matutz, represents 65% of all investor visas granted so far.
• 2:41
  SPEAKER_00: The government's concern stems from the recent increase in foreign housing acquisitions, particularly in Spanish towns with the most real estate tension.
• 2:51
  SPEAKER_00: Housing Minister Isabel Rodriguez, who leads the initiative, argues that the Golden Visa program has failed to attract significant investments outside of real estate purchases, which do not create jobs and contribute to an overheated market.
• 3:08
  SPEAKER_00: Despite these concerns, Dr.
• 3:10
  SPEAKER_00: Sola Matutz highlights that the amendment includes two transitional provisions that would allow existing visas to remain valid and be renewed according to the criteria of the 2013 law.
• 3:26
  SPEAKER_00: This aligns with the fundamental principle in the Spanish Constitution, Article 9.3, which upholds the rights of current golden visa holders, many of whom were quite concerned about the proposed changes, end quote.
• 3:42
  SPEAKER_00: He further notes, quote, even if the amendment passes, there won't be any practical changes for at least six to nine months, which is the time required for a draft law to be enacted.
• 3:55
  SPEAKER_00: End quote.
• 3:56
  SPEAKER_00: Dr.
• 3:57
  SPEAKER_00: Solomatz emphasizes that the government coalition has lost many votes in recent parliamentary sessions, so losing this amendment may not be a significant setback, and that the big game revolves around the 2025 budget law.
• 4:14
  SPEAKER_00: He and his team plan to engage with members of the Justice Committee when the legislative process begins in September to gather their feedback on the proposed amendment.
• 4:26
  SPEAKER_00: This episode first appeared as an article by Ahmad Abbas on IMIDaily.com.
• 4:33
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• 4:41
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