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February 07, 2018, 10:07:59 AM |
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Golden Visa in Spain is totally different then E-Residency
Buying a property in Spain for residency has become an increasingly popular option since the scheme was founded in 2013. Here’s why:
The recovery of Spain’s property market is now well underway since prices bottomed out midway through 2014. Prices are still well below the peak in many areas and even in prime areas, such as city centres and desirable coastal regions, they still fall well below the equivalent of many other European locations. Rental yields, particularly in the city centres, are high, offering investors the potential of a regular income from their investment. Spain’s economy is currently the fastest growing in the EU, beyond many forecasters’ expectations. The Residency Permit allows the right to work in Spain. Investors can purchase their properties in Spain either directly or indirectly through a registered company, so long as they continue to hold the majority of shares and the company’s address is not located in a tax haven. Married couples who wish to acquire a property together are no longer required to comply with the €500,000 minimum investment individually. Before the changes in 2015, the minimum investment requirement applied on an individual basis, creating a disadvantage for co-owning couples. Unmarried, cohabiting couples benefit from the law when they register under the Spanish “domestic partnership” Civil Registry, a rule which also applies to same sex couples. Spain has excellent communication links including several international airports and the fast-speed AVE trains as well as well maintained road and rail links, enabling efficient travel throughout the Schengen Area, and many far flung destinations. Spain is renowned for some of the best international schools in all of Europe. The Spanish health service is excellent. It is widely recognised that residents of Spain have access to world class medical care and the general infrastructure is considered to be well managed with a fair system of accountable government spending. Spain offers huge lifestyle benefits including an enviable year-round mild climate, a fantastic outdoor lifestyle, award-winning gastronomy and architecture, superb ski slopes and beautiful beaches. Life expectancy at birth is the highest in Europe at 85.7 (Destatis).
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