Golden Visa Approvals Surge in Spain

The first six months of 2019 saw a record-breaking surge in Golden Visa approvals in Spain. The programme, which has been established for more than six years, has continued to grow year on year with applicants from all over the globe applying for Spanish residency through investment.  Between January to June 2019, 848 residency applications were approved, which is 132 more approvals compared with the same period in 2018.  Almost half of these investors were made up of Chinese and Russian nationals with a large number of applications also coming from countries such as Venezuela, Ecuador, Brazil and India.

The Spanish Golden Visa programme grants residency to investors who purchase real estate at a minimum of €500,000 and above. Investors only need to spend a minimum of one day per year in Spain in order to retain their residency permits. Should the investor wish to later convert their residence permit into Spanish Citizenship, they will need to reside in Spain for at least 183 days per year for a minimum of 10 years. Should the investor be a citizen of a country which was once a Spanish colony, then they will be able to fast track their citizenship application in just two years as opposed to 10 years. Nationalities who could benefit from this include those from Venezuela, Colombia, Mexico, Costa Rica, the Philippines and many more.

To find out more and how the programme could benefit you, please contact us.