Golden Visa in Spain secures 910 million euros in two years
1 March, 2016duguech
The law of entrepreneurs, which took effect at the end of 2013, has proven to benefit foreign investment in Spain’s luxury real estate market. Since then there have been 1,189 registered operations at an average value of 765,000 euros, with the minimum amount required to obtain the Golden Visa following this route being 500,000 euros.
The majority of these operations were carried out by russian investors who spent roughly 328 million euros and chinese investors who totalled about 268 million euros. Together, these two groups make up 65% of the housing purchases made in Spain. They are followed by investors from Venezuela and Ukraine.
Barcelona has been the province with the most operations, around 490, followed by Malaga with 211. Madrid, where 183 properties have been bought, comes in third.
Of the visas issued during this period, 17% of the total correspond to those requested for investment in real estate or in public debt. The remaining 83% of the visas were issued for activities that generated employment, registering a total of approximately 20,000 employees.
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*It should be noted that the rules of any of the countries listed and the procedures suggested might change at any time without notice.[contact-form-7 404 "Not Found"]