Buying real estate in Spain can bring a visa to Brazilians

"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. 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.