Spain is one of the countries which receive the greatest amount of people from other countries, either for tourism, and as expats. And Chinese people make up a very important and well-stablished community of immigrants in Spain, with a considerably long history.
One thing that has characterized Chinese residents in Spain is their capacity to thrive, even in the darkest moments of Spanish and EU’s (European Union) economy; and even with the highest unemployment rates, the Chinese immigrants have been able to preserve their jobs and create their own businesses.
However, Spain is not only an attractive country for Chinese people interested to move looking for new opportunities in the Mediterranean country. It has also become increasingly attractive for Chinese investors, especially thanks to the opportunity for obtaining a Golden Visa.
What is the Spanish Golden Visa?
When looking to invest overseas, many factors are taking to account in order to decide for the best country, that is, the one that offers the investor the best ROI (Return on Investment). But they may also be looking for one that brings them the greatest opportunities to reside in the country.
And when it comes to facilities to invest and reside, Spain is one of the countries that excel, thanks to their opportunity to obtain a Golden Visa, that is, a residence permit oriented to investors for a fair invest, and Chinese investors have been very interested on this.
To obtain this visa, the investor must: Buy a property (real estate) for a value greater than €500000, €1000000 Spanish bank deposits, investment funds or shares or equities on companies with real business activity, or at least €2000000 of investment in Spanish public debt.
After the necessary investment, the investor is able to apply for a Golden Visa, and after obtaining it and doing the necessary documentation, she/he is able to reside in Spain for up to one year, and after this period, is able to obtain a renewable Resident Visa to stay for up to two years.
What should you know before investing in Spain?
Spain has become a very attractive country for Chinese investors to buy real estate, especially thanks to the possibility of obtaining a Golden Visa. However, it’s worth it considering a few points before taking the decision of investing in Spain.
The country has gone through an economic crisis
In 2008, Spain was hit by a tough crisis, which increased the unemployment rate, and the price of real estate, so high and attractive before, fell considerably, causing concern among investors. Luckily though, Spain has been finally getting out from the crisis, and the price of real estate is back to that of the pre-crisis.
However, some Chinese investors might want to wait some time before deciding if invest in real estate in Spain. The outlook is positive though, so right now might be a good time for investing in Spain.
The price of real estate is recovering
After the so called Spanish real estate bubble burst in 2008, the situation is finally getting better, and properties in places like Barcelona are very valuable right now, making it very attractive for investors actually looking to either create passive income, or to buy-and-hold the property.
It could be the case that some Chinese investors could want to be sure that there won’t be yet another bubble burst, but there are good signs, such as banks being much more aware, that real estate value will grow with no risk.
Overall, it’s worth taking into account that Spain is finally out of a crisis that skyrocketed unemployment rates, and now that things are getting better, and being the country as attractive and beautiful as it has always been; some people are attracted to invest right away, while others have decided to wait for a big before taking the decision of making investments in Spain.