Spain is one of the world’s most popular tourist destinations. Its beautiful beaches, sunny weather, delicious food, and diverse culture attract travelers from all over the world. In addition to being a wonderful place to visit, the country is also an excellent location to live and work. With the spain golden visa, non-EU citizens can become permanent residents of Spain and enjoy all the benefits that come with it. The visa allows its holders to reside in the country and travel freely throughout the Schengen zone without having to worry about visa requirements.
The visa was introduced in 2013 by the Spanish government to encourage foreign investment and foster economic growth. It offers a number of benefits to investors, including tax breaks and eligibility for citizenship after 10 years of residence. The program is similar to other residency by investment programs in the EU, but it has some unique advantages. For starters, it is the fastest to process of all the options. The country’s government has an entire department dedicated to processing applications, so applicants can expect their application to be processed in 20 business days or less.
Investors can choose to invest in a variety of different assets to qualify for the visa, but real estate is one of the most common choices. The minimum investment required is EUR500,000, which can be spent on a variety of types of property, including urban and rural dwellings. The most common option is to purchase a new construction home or “Obra Nueva,” but investors can also buy existing properties or undertake significant renovations to meet the requirements. In addition, the visa holder can also opt to invest in a company that is registered in Spain. This is a rare feature among residence by investment programs, and it provides additional flexibility for investors who want to diversify their portfolio.
Another benefit of the spain golden visa is that it offers a number of tax incentives. In addition to the 20% discount on capital gains, there are also exemptions for property taxes and mortgage interest. Investors can also benefit from reduced corporate tax rates and the elimination of withholding taxes on dividends. Finally, the investment is recoupable, so it can be used to fund future investments or other expenses.
In addition to the tax benefits, the spain golden visa allows its holders to travel freely around Europe without worrying about visa restrictions. The visa gives its holders access to 26 countries that are part of the Schengen area, including Spain, France, Germany, Italy, Greece, Ireland, and the Netherlands. The visa is valid for two years and can be renewed indefinitely, as long as the investment continues to be maintained.
In recent months, the Spanish government has faced pressure from European regulators to end the golden visa programme and tighten its controls on issuing residency permits to wealthy foreigners. Neighboring Portugal has already ended its own version of the scheme, and the European Commission has said it is reviewing the issue. spain golden visa