Spain issued more than 30 thousand "golden visas", residency permits for foreign investors during the last ten years. The Iberian country launched its residency by investment programme in 2013. However, the scheme kicked in slowly, they only managed to obtain 2,236 investors during the first three years, but these wealthy foreigners brought 2,16 billion euros, 72% of the total amount was invested in property, which is the most popular investment option. Since the introduction of the investors' immigration scheme, the number of visas issued has continued to grow each year. According to El País, the Chinese investors don't even know about the other options to obtain the Spanish residence permit under the "Law to support entrepreneurs and their internationalisation". In a report, the Spanish newspaper asked several Chinese agencies, who could not offer other options for their clients, because they missed the exact requisites from the Spanish government. Meanwhile, in the case of properties, the half million euros minimum amount of investment is a definite task, and it is more than enough to buy one or more luxury real estate in Spain. The EU Member State set a new record this year, almost 6000 investors have been awarded resident status in the first ten months of the year. Five hundred forty-six of the investors bought properties the rest preferred to put their money in Spanish business projects. According to Transparency International, Spain granted more visas than any other EU country (22 have such residency by investment programme from the 28 EU jurisdictions). Russian and Chinese applicants are on the top of the list. According to the statistical data, those foreigners who invest in property in Madrid and Barcelona are the most. However, the Russian High Net Worth Individuals are now moving to the South; they are more interested in the real estate markets of the Costa Blanca, Costa del Sol and Marbella. But not only Russian and Chinese wealthy people are interested. Applicants from the US, India, Brazil, Venezuela and Mexicó are moving to the Iberian Peninsula as well. According to the opinion of local lawyers, the background of the applicants changed during the recent year. Now, mostly families are applying instead of single businesspeople. The Spanish Golden Visa Program guarantees the right for the residents to live in the country and even to become a citizen later. Moreover, the whole family of the investor is covered, and there is no physical residency requirement to reside there all the time. Options of the Spanish residency by investment programme:

• Purchasing of commercial or residential property for at least half a million euros.
• Investing in the shares of a Spanish company or deposit in a local bank at least one million euros.
• Investing in government bonds for at least two million euros.

Please, click here for the detailed information on the Spanish Golden Visa Program!

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