The expert team of advisers who are both lawyers and economists, provide valuable information regarding the formalities necessary to obtain the Spanish ‘Golden Visa’ residency in Spain.
Working in Berlin, studying in the best universities in London or enjoying the exceptional Spanish climate is very simple, thanks to the foreign investment support system in Spain. This means that making a financial investment or purchasing a home for more than €500,000 automatically entitles the investor to apply for a residence visa.
This scheme has been operating for a few years now. Under the Spanish ‘Golden Visa’ residency scheme a person can get permanent residency including the Schengen-area travel in return for certain types of investments, including €500,000 (as long as it is finance free) or more in real estate. Figures suggest that Barcelona attracts around 50% of Golden Visa investors in Spain who are mainly Chinese. Buying a property in Barcelona not only opens the door to a residence permit, it also allows Chinese parents to give their children a good education thanks to the prestigious international schools in the city. Most of the Chinese buyers focus on Barcelona’s Example district where there is a mini ‘Chinatown’.
The first half a million Euros invested has to be mortgage free but anything over that amount can be financed. In the last year we have seen growing interest from Golden Visa applicants as the Spanish economy grows from strength to strength, interest rates continue to stay low, banks are lending again and property prices are still below the peak of 2008 in many areas.