Everything you need to know about the Golden Visa

What is the Golden Visa? The Golden Visa is an immigration program that grants non-resident individuals the ability to obtain permanent residency or even citizenship of a specific country in exchange for a significant investment in that country''s economy. This program provides investors with a faster and more streamlined way to obtain residency or citizenship without having to go through the traditional immigration processes. The Golden Visa is beneficial for both investors, and countries offering it. On the one hand, investors can obtain the benefits of citizenship or residency in a foreign country, which can include tax benefits, access to health and education services, and greater freedom to travel and work in the destination country. On the other hand, the Golden Visa can attract significant investment to the host country''s economy and stimulate its economic growth, which in turn can generate employment and enhance business opportunities. In short, the Golden Visa is an initiative that benefits both investors and the countries that offer it, providing a quick and efficient way to obtain residency or citizenship in a foreign country and generating significant investment in the local economy. Countries that grant the Golden Visa The Golden Visa program has been implemented in many countries around the world. Each country has different requirements and amount of investment to participate in the program, and the type of investment allowed also varies from country to country. Below are countries in the European Union that offer Golden Visa programs:

• Spain: foreigners can obtain residency if they invest €500,000 in real estate, start a company, own shares, or bank deposit worth at least one million euros, or invest in government bonds worth at least two million euros. The visa also allows working, studying, and living in Spain.
• Malta: offers citizenship in exchange for a minimum investment of 690,000 euros for 12 to 36 months.
• Italy: foreigners can obtain a two-year residence permit in exchange for an investment of at least €500,000 in an Italian limited liability company. After 10 years living in Italy, they can apply for citizenship.
• Greece: residency can be obtained by investing €250,000 in real estate in the country. Recently, the investment threshold has been increased to €500,000 to make properties more affordable to residents. In addition, Golden Visa holders do not have to stay in Greece to keep it and the application process is the fastest, lasting 60 days.

It is important to note that the requirements and conditions of each Golden Visa program vary from country to country. Therefore, it is recommended to carefully research the details and conditions of each program before making an investment decision. Eligibility requirements The requirements for obtaining a Golden Visa vary according to the country offering it, but in general, the main requirements are as follows:

• Investment: It is necessary to make a significant investment in the country, either by purchasing real estate, investing in a business, or investing in bonds or stocks.
• Source of income: Applicants must demonstrate that they have a stable and sufficient income to support themselves and their families during their stay in the country.
• Criminal record: Applicants must demonstrate that they have no criminal record in their home country or any other country where they have lived.
• Health: A medical examination may be required to prove that the applicant does not suffer from any contagious or dangerous diseases.
• Health insurance: The applicant may be required to have valid health insurance and to cover the costs of any medical treatment necessary during their stay in the country.
• Other requirements: Depending on the country, there may be other requirements, such as submitting a visa application, attending interviews with immigration officials, submitting additional documents, and completing other administrative formalities.

Increase in foreign buying in Spain The Spanish real estate market has seen an unprecedented growth in home sales and purchases during 2022, reaching levels like those of the real estate boom period. Foreign buyers have played a prominent role in the record-breaking figures recorded. For ten consecutive years, the percentage of homes purchased by foreigners has exceeded 10% of total transactions, an increase of almost three percentage points compared to the previous year. In absolute terms, there has been an increase of 45.7% compared to 2021 and 36% compared to the highest previous record in 2018. British citizens continue to lead the ranking of nationalities that purchase the most homes in Spain, despite Brexit and the pandemic, with 11.07% of operations and nearly 9,700 homes purchased. Germans follow closely behind with 9.47% and 8,290 units, while the French are in third place with 6.97% and just over 6,100 transactions. Behind them are Belgian nationals with 5.21%, followed by Moroccans with 5.15% and Romanians with 5.07%, which translates into 4,558, 4,507 and 4,437 transactions, respectively. According to the data provided by the registrars, 10.13% of the purchases made by foreigners during the year 2022 correspond to homes with a value of more than 500,000 euros, which allows non-EU investors to acquire the Golden Visa. This increase in demand for high-end homes by foreign buyers has had a significant impact on the Spanish real estate market and is expected to continue in the near future. Atipika and its Golden Visa service Atipika has a property search department to find properties to buy. We advise you to find the best options to invest and we manage the property, carrying out all the necessary procedures: commercial management, drafting of contracts, tenants'' entrances and exits, payment control and integral management. For more information, visit our website. PROPERTIES THAT MAY BE OF YOUR INTEREST [caption id="attachment_39995459" align="alignnone" width="808"] Luxurious penthouse in Portal de l''Àngel[/caption] [caption id="attachment_39995663" align="alignnone" width="808"] 3-bedroom flat with communal area and parking space in one of the best areas of Sant Cugat[/caption]