A total of 33,237 internationals hold residency in Spain through the Golden Visa Program, based on the figures from the Spanish Ministry of Foreign Affairs.
The same source reveals that last year alone, a total of 14,732 foreign nationals obtained residency in Spain through the Residency by Investment program, marking the most significant increase since 2013, Schengen.News reports.
However, details related to the number of residency permits issued to Russian nationals have not been provided by the Ministry, according to an ON Economia report.
The Majority of Visas Granted Through Real Estate Investment Option
The figures from the Ministry revealed that of the total 33,237 residence permits issued through the Golden Visa Program, 12,723 are real estate investors (12,091) and business investors, and the rest are family members.
The Ministry’s figures provide information related to investors with a valid permit and do not include family members.
The same source revealed that about 5,300 investors with valid permits are from non-EU countries, the majority of them from the United Kingdom. At the same time, there were a total of 4,082 Asian investors, the majority of whom were from China, 1,377 from North America, and 1,052 Central Americans and 821 Africans.
Real Estate Investment Option Abolished
Through the Golden Visa Program of Spain, internationals can acquire residency, provided they choose one of the options offered by this program and make a financial contribution, in addition to meeting the needed requirements.
The most famous option of this program is the real estate investment option. To qualify for this program, wealthy foreigners were required to purchase real estate in Spain worth €500,000.
However, in a bid to deal with the housing crisis, in April this year, Spain announced the abolishment of this route.
The announcement back then was made by the President of the Government, Pedro Sanchez.
In addition, the Spanish Prime Minister added that he would take all the measures needed to ensure that housing is a right and not a speculative business.
The Golden Visa Program of Spain is among the most famous ones in Europe, contributing significantly to the country’s economy.
Source: https://schengen.news/over-33200-foreigners-hold-spanish-residency-through-golden-visa-program/
