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 a wide range of benefits to investors interested in the Spanish real estate market. Spain, as a European Union member, is vibrant and boasts breathtaking natural landscapes, and it holds a significant position in the world of economics and business. In addition to obtaining permanent residency for the investor and their entire family, they will enjoy full benefits within Spain, including healthcare coverage and access to a high-quality education system.
Furthermore, all family members of the applicant will have the freedom to travel throughout the Schengen Area, the right to work or engage in business activities in Spain and take advantage of the tax incentives offered to investors. The program also simplifies administrative burdens for companies and their regulatory laws. Additionally, it streamlines the process of obtaining residence permits in Spain, among many other advantages, making the Golden Visa program in Spain the optimal choice for those interested in obtaining residency.
At Reach Real Estate Investment, we have experience and expertise in the real estate sector with branches in over 13 countries worldwide. If you are interested in obtaining a Golden Visa through real estate investment, get your free consultation and contact us through the link here.
