Since 2008 Spain has made a clear improvement in its legislation relating to the investments for foreigners and even included additional incentives. This has increased the confidence in foreign investors and developed Spain into the Second largest Country for Foreign Direct Investments.
One of those benefits is the Golden Visa, which was introduced in 2013 that aids to support entrepreneurs to buy property or land in Spain, and other investments in Spain, over €500,000 bringing more wealth to the country and intelligent entrepreneurs. This Golden Visa product also attracts investors that are not citizens of countries in the European Union, so we are seeing already a huge increase in investments from China and Russia to boot.
When attaining the golden visa the investor and his immediate family gain the option to visit the European countries as well as avoiding any red tape that was previously restricting access.
A little about Spain itself.
It’s one of the largest countries within Europe and benefits from some of the cleanest climates in the world. This leads to amazing beaches and weather which most ex-pats are now receiving health benefits from!
Accompanying the weather, Spain also benefits from some amazing foods and dishes that are simple but boast huge flavours on the pallet. Inland Spain can be a little on the dry side but if you find an investment on the coasts you can benefit from the nice cold breeze and hot sun with clear skies right throughout the winter periods. With only an average of 30 days per year of rain in Spain, you can see why the advantages are stacking up!
In a recent study of 33 countries, Spain came in Second place for countries to consider buying abroad for the first time! Apart from the weather, the cost of living is considerably cheaper here than most.
So where do I want to buy?
AS mentioned above, you must consider the weather, and what that brings with it. If you were to purchase a property on the coast, you benefit from tourism and holidaymakers wanting to rent your property too in the summer months or holiday dates. And any relevant holidays as Spain has amazing weather all year round. I would also consider travel time if you still have investments abroad in other areas, i.e. flight time from London to Alicante is only 2 hours! And with flights cheaper than most taxi’s you can’t complain.
The world is changing financially and socially. The pest investments always consider both of these options. People are retiring a lot earlier now, and they want the beaches and beers to go with it.
Yes, this recent pandemic has twisted the ideals of investments slightly but when one door shuts another opens. Recently there has been a huge spike in rentals from Spaniards nearer the coast. So those worried about travelling abroad have travelled by car from the mainland to the coast to get their holiday vibes. The strong foundational businesses are thriving here even after the lockdowns, so if you were wanting to also benefit from the Golden Vias Business perks, and move or start a business in Spain, that would be a wise idea. The EU has some friendly investor policies that allow businesses to expand throughout Europe and is leading to an increased demand for foreign opportunists using Spain as their base and buying a property in Spain to call home.
If you are thinking about making an investment in Spain or need any advice with Golden Visas or buying a property Spain, a great team we have at hand is www.1clicklawyers.es. They are a professional outfit with a wealth of experience in helping you invest in Spain.