Chinese people have always been recognized for their work ethics and family loyalty, two characteristics that are well-received wherever they go to, and that have made them thrive, even in places where the outlook, economically-wise, is not the best.
This is why Spain has been opening its doors to Chinese expats willing to invest in the Iberian country, and bring their culture and what they have to offer, to help diversify the economy, as well as bringing new business opportunities.
Since a few years ago, many countries, including countries in the EU (European Union) have been offering Golden Visa programs to people from other nations who invest a certain amount in properties or real estate; and Spain has proven to be a valuable option for Chinese investors.
The state of Chinese residents in Spain
In Spain there exist a considerable amount of Chinese residents in different conditions, but many in a stable one. This is especially true for those who have decided to invest in real estate in the country to obtain a Golden Visa, as part of the program from Spain to encourage international investment.
The reasons for Chinese citizens to invest in the European country enough to obtain a stable residency are many, but one is definitely the fact that Spain is a welcoming country, with a varied community of expats, and a relaxed attitude.
Of course, there are also laws and regulations to make sure that residents from China in Spain can have the best experience, and to go hand by hand with the norms, as well as to avoid misunderstandings regarding taxes, for Chinese investors to have a smooth time living and working in Europe.
Laws for Chinese residents in Spain
The Spanish laws for residents in the country apply for residents from any country not belonging to the European Union, and therefore, these are the laws that apply for Chinese residents who have obtained their permit, either by applying for a visa, or by obtaining a Golden Visa for investment.
However, Chinese or people from any country out of the EU/EEA and Switzerland residents in Spain, and especially those considering investing more than €500.000 in real estate, or one of the other valid investments to apply for a Golden Visa in Spain, should be aware of a few details regarding what their permit offers them.
First, when the investor has applied and received a favorable response, that is, the person is granted with an investor visa, she/he will be able to live in Spain for up to one (1) year. After this period has expired, the investor is able to apply for a Resident Visa.
The Resident Visa allows the person to stay for up to two (2) years in Spain and is renewable, always that the person can still be able to demonstrate their initial investment.
Another thing Chinese residents in Spain, as well as residents from other countries should know, is that, by applying for a Golden Visa, the investor can also request a visa for her/his family, that is: Spouse, children (either under age, or 18 years old or older who still depend economically on the investor), investor’s parents and spouse parent’s.
A Golden Visa is very attractive for Chinese investors since it offers a lot of flexibility for the investor and family, who will be able to live, study and work in Spain, travel freely across the EU and obtain important documentation.
Finally, in order to keep the residence and be eligible for a Resident Visa, the investor only have to visit Spain once during the year, and is not required to stay for a fixed amount of time; which brings even more flexibility.