The Spanish government is actively seeking to attract both international and domestic investment across various sectors of the country through various policies and approaches. Individuals choose to invest in Spain due to the lifestyle and economic opportunities that the country offers to those who decide to make it their base. In this article, you will learn about the Golden Visa program in Spain through real estate investment.
About the Golden Visa Program in Spain
In 2013, the Golden Visa program was launched in Spain by the government, supported by Law No. 14/2013, and this program provided several investment options, with one of the most prominent being investment in the Spanish real estate market through the purchase of property or properties with a minimum investment amount starting at €500,000.
This program does not require investors to undergo language proficiency tests, and it does not mandate residency in Spain. The law allows investors to lease the property and generate a financial return from it. Permanent residents can apply for citizenship after ten years of holding residency.
Since its inception, this program has gained popularity among international investors, ranking fifth as one of the most sought-after programs, with an increase in demand of over 28%. Between January and June 2019, 848 residence permits were approved. Since 2021, the Spanish Ministry of Foreign Affairs has approved 13,000 Golden Visas.
Advantages of the Golden Visa Program in Spain
This program offers many benefits to investors interested in the Spanish real estate market, the most important of which are as follows:
- Obtaining permanent residency for the investor and his family.
- Enjoying full benefits within Spain, such as: education and health insurance.
- Freedom to travel between Schengen area countries.
- The right to work or carry out commercial activities in Spain.
- Benefit from the tax incentives offered to investors.
- Enjoy a safe investment in the Spanish real estate market.
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