Buying real estate in Spain can bring a visa to Brazilians

Покупка недвижимости в Испании может принести визу бразильцам. Главные новости финансового рынка - Estadão E-Investidor.

"Golden Visa" is a program that allows foreigners to obtain a residence permit in one of the European Union countries through investment. After the program was discontinued in Portugal, buyer attention shifted to Spain's Golden Visa. To obtain a Spanish Golden Visa, the minimum required investment is 500 thousand euros for investments in securities and 2 million euros in the case of investments in Spanish public debt.

"Golden Visa" in Portugal

"Golden Visa" is a program that allows wealthy foreigners to obtain residency in European Union countries through investments that can be made in real estate or financial assets. Until February this year, Portugal was the center of attention for many Brazilians seeking such permits. According to the Portuguese Service for Foreigners and Border Affairs (SEF), between 2012 and February 2023, 11.7 thousand residence permits were issued through the Golden Visa. Of these, 1.2 thousand were received by Brazilians, making them the second largest group after the Chinese, who received 5.3 thousand permits. To obtain a Portuguese Golden Visa, an investor had to, among other options, transfer at least 1.5 million euros into the country, create at least 10 jobs or purchase real estate worth at least 500,000 euros - the preferred option for investors. Of the total 6.8 billion euros raised by the "golden visa", at least 6.2 billion hit the real estate market. However, due to rising real estate prices, Portugal has decided to stop issuing visas based on the purchase of real estate in an attempt to combat speculation in the real estate market.

"Golden Visa" in Spain

With Portugal closed to real estate investment, the eyes of buyers, including Brazilians, should turn to the "Golden Visa of Spain," Estadão reports.

Sale house in Katral 101 200,00 $

Spain,Katral

2 Bedrooms

1 Bathroom

80 м²

Sale other properties in Lodi 324 705,00 $

Spain,Lodi

2 Bedrooms

2 Bathrooms

66 м²

Sale villa in Karimate 7 305 882,00 $

Spain,Karimate

5 Bedrooms

7 Bathrooms

523 м²

Sale townhouse in Lanzo d'Intelvi 238 117,00 $

Spain,Lanzo d'Intelvi

3 Bedrooms

2 Bathrooms

103 м²

Sale flat in Torrevieja 378 823,00 $

Spain,Torrevieja

2 Bedrooms

2 Bathrooms

78 м²

Sale flat in Williamartin 290 070,00 $

Spain,Williamartin

2 Bedrooms

2 Bathrooms

70 м²

To obtain a Spanish golden visa, the minimum required investment ranges from 500 thousand euros for investments in securities to 2 million euros in the case of investments in Spanish public debt. Then, a number of requirements must be met, such as having full health insurance and no felony convictions. According to Monica Naas, a real estate agent who has been active in the country for more than 13 years and has long been familiar with the market, many factors can attract Brazilian investors to Spain. One of them is the combination of low real estate prices compared to other countries and attractive rental rates. And all this in famous cities such as Barcelona. The similarities between the nations may also attract investors from Brazil. According to the Ministry of Foreign Affairs, there are currently 165,000 Brazilians living in Spain, which is the third largest Brazilian community in Europe. "It's easier for a Brazilian to adapt. There is a beach, beach volleyball, a passion for soccer," Naas said.

The residency visa program is an attempt by European governments to attract investment, encourage entrepreneurship and create jobs, as many of these countries have recently experienced financial crises. It should be noted that between 2008 and 2012 alone, Spain experienced the bankruptcy of 1.9 million companies.