For investors who wish to go to a country and not have to wait a business or tourist visa, they invest on getting a Golden Visa. Countries offer this special visa for people who can invest thousands of dollars to the economy or purchase a property. While there are countries who see this visa as a good way to boost the economy, not everyone likes it. For instance, the government of the Balearic Islands in Spain have been commenting against it.

Why is there a comment against the Spanish Golden Visa?

On Monday, the Balearic Parliament formally requested to the Central Government to stop handing out Residency Permits or Golden Visas to non-EU investors who spend 500,000 euros for properties in the island. The visa is currently supported by the PP, Ciudadanos and PIs. They claim that these visas are for investors, workers and entrepreneurs.

According to the Socialist deputy Mercedes Garrido, the fact Venezuelan, Indian, Chinese and Russian millionaires can apply for this privilege is dangerous. Transparency International says that there is a possibility that the money of these millionaires came from dubious means.

One Mes spokesperson said that they do not see the measure as an effective one. They see that there is no clear proof that the country’s foreign investment went up thanks to these “Golden visa”. Podemos’ deputy Pablo Jimenez said that his party could not support a law that values people for their money.

Currently, around 116 foreigners have the “Express Visa” for the Balearic Islands. These foreigners got the visa after they bought properties worth half a million euros or more. The government has also yet to comment on the petition from the Balearic Government.

Visiting Spain

If you plan to visit Spain, there are a lot of guides out there to help you out. To get you started, check out our articles on the best places to stay in Valencia, Barcelona, A Coruna, Zaragoza, Granada, Seville and Madrid.

We also have a guide on the best hotels near El Prat Airport.

If traveling around, we have a guide on how to travel from Madrid Barajas Airport to Chamartin Station, Madrid Airport to Atocha Station, from Madrid to Toledo, Madrid to Valencia, Madrid to Barcelona, Barcelona to Valencia

For those who wish to work in the country, we have a guide on the minimum salary in Barcelona and in Madrid. We also have a cost of living guide in Madrid and Valencia. Our How to Retire in Spain guide is also available for those thinking of moving to the country.

For more information, visit Spain’s official tourism website.

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Madrid has a lot to offer to tourists no matter what kind of sites they wish to see. The city has historical and cultural attractions, as well as events that will educate people about Spain. However, not many stay long in Madrid because they favor visiting areas like Barcelona or Majorca. But, this may change with Iberia’s newest promotion.

Hola Madrid!

On Tuesday, the country’s national airline announced that they will be offering long stopovers in Madrid to any interested tourists. The new Hola Madrid promotion will allow any Iberia passenger to prolong their stopover in Madrid with no extra cost to their tickets. The airline has teamed up with the city’s top attractions to give big discounts for Iberia passengers.

For example, accommodations in any of Madrid’s 20 Melia hotels will have a 40% off for each room if they availed the Hola Madrid! promotion. Iberia will also provide a free two-day pass so tourists can go around Madrid for free.

To get the promotion, passengers with stopover flights simply need to log into Iberia’s website, book your ticket and indicate how long you wish to stay in Madrid. They can stay up to six nights long in Madrid.

The promotion is also available for flights from Europe and other countries. However, these flights must have a stopover in Madrid for them to qualify for the promotion.

Spain Travel Tips

Want to maximize Iberia’s Hola Madrid! promotion when you book with them? You can check out the website of Visit Madrid to learn more about the city.

We also have several guides here in our website that we know can help you out during your stay. First, the site has a guide on how you can travel from Madrid Barajas Airport to Chamartin Station and to Atocha Station. We also have a transportation guide on how you can travel to Barcelona, to Toledo and to Valencia from Madrid.

If you are wondering if Madrid is the best, we have a comparison guide between the capital and Lisbon. You can also check out our recommendation as to where you can stay in the city.

If you will be working in the city, we have a guide on how much the cost of living is and how much is the average salary. You may check with your local Spanish embassy for the requirements you will need to get a work visa.

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