Golden Visa attracts investors and captures 2.157 millions euros
At the end of 2016 foreign investment in the real estate sector, from private capital of Russia and China, was 2.157 million euros. These investors opted for the Golden Visa, which allows them to obtain residence in Spain if they have significant capital to invest in the country.
Since the entry into force at the end of 2013, the Golden Visa, intended for foreigners outside the European Union, has been granted to a significant number of citizens of China and Russia, who have invested only 1,554 million euros in real estate. A total of 702 Chinese investors have allocated about 489 million euros and 640 Russian investors have invested 501 million.
The cities where most properties have been bought are: Barcelona with 893, followed by Malaga with 348, Madrid with 306 and Alicante with 151.
In general, the Golden Visa has hosted since 2013 more than 2,236 investors of different nationalities, so that foreigners who see interest in investing in Spain must take into account the legal situation in which each property is located and also, the Local tax system.
This information is not in any way legal advice, serving only as an informative purpose. If you need professional services in the area of Global immigration and Mobility, please contact our firm.
*It should be noted that the rules of any of the countries listed and the procedures suggested might change at any time without notice.