Spain’s Golden Visa among top five investor choices in Europe so far this year
The Spanish Golden Visa program remains among the top choices for European investors for the first half of this financial year, according to the latest data released by Tranio. Their research shows that during the first six months of 2022, the increase in the number of Golden Visas purchased by non-EU citizens who wish to stay in Spain began to slow down, however, the demand for Spanish visas is still substantial and they predict that it will remain stable for the long-term.
The figures provided by Tranio’s data on property purchase inquiries, made by investors in the first half of this financial year, also reveal that global investors' interest in ‘Citizenship by Investment’ and ‘Residency by Investment’ programs was mainly focused on Europe and North America.
The same source shows that the average number of international property buyers wanting to get residents’ rights or citizenship in European countries that offer such programs, increased by 20% last year.
In addition, the top five European Golden investment programs that attract international investors are the following:
- Portugal’s Golden Visa (last year investor demand increased by 100%).
- Montenegro’s Golden Passport (+50%).
- Greek Golden Visas (+30%).
- Turkey’s Golden Passports (+22%).
- Spain’s Golden Visa.
Through the Golden Visa program, third-country citizens are eligible to stay in Spain provided they meet specific conditions and make an investment of at least €500,000 in Spanish real estate. After meeting these requirements, they may then be allowed to live and work legally in the country, including the Canary Islands, and can then also move freely within the Schengen area.
It has been reported that the Golden Visa program has significantly contributed to the recovery of Spain’s economy, even though such schemes have often been criticized for being an open door to many unlawful affairs such as money laundering and corruption, even though stringent police searches are also involved.
Tranio’s figures also show which programs saw the greatest increase in the number of inquiries in the first half of this year:
- Greek Golden Visa (inquires increased by 127% compared to the first half of 2021)
- Turkey (+24%)
- Malta (+18%)
- Montenegro (+12%)
- Italy (+11%)