The Golden visa scheme in Spain has been running since 2013 under Law 14/2013. As of 2018, Spain has received over EUR 3 billion euros through golden visas.
The Spanish Luxury real estate market in Madrid has attracted large number of millionaires from Latin america according to Eldiaro
Madrid in third place as the recommended destination for world luxury real estate investment in 2019, just behind Lisbon and Porto. in 2018 Madrid entered the top ten of the cities with more millionaire investments in housing, according to a report on trends in the market for 2019
According to the president of the Barnes Group, Thibault de Saint Vincent, the appetites of this luxury class of customers in Spain are mainly directed to Madrid, especially after Barcelona disappeared from the “top 20” of luxury investment destinations since 2016, due to to the political instability that the independence process
Madrid also benefits from a significant change in national and international investment due to the political situation in Venezuela, Colombia and Mexico.
Madrid is a luxury real estate market that attracts, above all, Mexican, Colombian and Venezuelan customers (around 70% of its clientele) and in recent times in Brazil.
Golden visa
According to Lainformacion, 3,405 visas have been granted to foreigners as a result of investments in real estate exceeding 2,550 million euros.
Chinese, Russians and Ukranians top the table for investing in spanish real estate. More than one-third of residence permits to Chinese citizens who have managed to invest up to 821 million euros in Spain. Since 2013, 89 Venezuelans have obtained residency in our country in exchange for investments that reach 90 million euros.
Barcelona, which manages to attract 1,522 investors representing more than 44.7% of the total; followed by Madrid – the other big city with a real estate market booming across the country – with 539 investments (15.8%) and Malaga – vacation destination for many of the foreigners who come to our shores – with 504 foreigners (14.8%).
Under the golden visa scheme, Spain requires half a million investment in real estate (€500,000)
Top cities for golden visa investment
- Barcelona
- Madrid
- Malaga
- Alicante
- Valencia
- Girona
Spain issues about 50 golden visas on an average per month. From Sep 2013 to Dec 2017, about 3,140 real estate properties have been sold for investors
Citizenship
Spain has the best health care systems and also one of the best EU passport in the world. The golden visa scheme also offers path to spanish citizenship.
Spanish nationality can be acquired by naturalisation Under Article 22, to apply for nationality through residence it is necessary for the individual to have lived in Spain for:
- ten years, or
- five years if the individual is a refugee, or
- two years if the individual is a citizen of a country of Ibero-America (including Portugal), Andorra, the Philippines, Equatorial Guinea, or if the individual can prove they are a Sephardi Jew with a connection to Spain; or
- one year for individuals:
- born in Spanish territory, or
- who did not exercise their right to their nationality by option within the established period of time, or
- who have been under the legal tutelage or protection of a Spanish citizen or institution for two consecutive years,
- who have been married for one year to a Spanish national and are not separated legally or de facto, or
- are widow(er)s of a Spanish national if at the time of death they were not legally or de facto separated, or
- who were born outside of Spain, if one of their parents or grandparents was originally Spanish (i.e. Spanish by origin).
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