Economic immigration policy is carried out in many European countries. The point is simple: if an individual citizen contributes to the economy, he will be greeted almost with open arms. Investments can take many forms: own business, real estate, sponsoring social and cultural sphere. Let us dwell on investments in real estate, especially since there is a reason: in July 2013 the Spanish law on the so-called "golden visa" will be run, which facilitates the naturalization of wealthy citizens not from the EU.
How much costs a residence permit in Spain?
The story of the change in the legislation began in 2012, when it was first announced the planned amendments. It should be noted that Spain has gone through quite a difficult global financial crisis. The real estate market is so badly damaged that the experts do not undertake to predict when pre-crisis levels will be reached.
The law obtaining a residence permit in Spain for the owner was preparing in 2012. Anyone can get a temporary and then permanent residence in this country buying a property at a predetermined price. And here the strife began. It was originally planned to set the bar €160,000. It is a fair amount, especially for those Russians, who have firsthand experience with the prices of Moscow and St. Petersburg real estate. But at the last moment everything changed. Since July 2013 the law takes effect, where the threshold is called a completely different amount - €500,000.
This news caused quite a commotion among the owners of real estate in Spain. As mentioned earlier, the market has just started to come better after the crisis. Since 2007 property prices in the country have fallen by 45%, while in the capital and major cities – by 40%. This segment of the economy is very attractive for investment, for example, in 2012 90% of real estate transactions totaling €5,54 billion were committed with the participation of foreign investors, of which 30% - non-residents of the EU, that is, people potentially covered by the new law. For comparison, the turnover of the property market in Spain in 2010 was only 8% of turnover in 2012. The gigantic increase in turnover of 92% was primarily due to foreign investors, and the expectation of a new law, of course, contributed to the growth in sales.
However, the initial threshold was raised. Residence permit in Spain will be able to get for €500,000. Experts are divided in their assessments. Someone claims that the amount is too high and can only scare away potential investors, therefore, the growth of the real estate market, which gives a good recharge of the state budget, will stop. Someone, on the contrary, believes that "the honor is more important," and "the more expensive, the more attractive." Who is right, time will tell. And yet the fact remains that a residence permit in Spain, the cherished "golden visa", is worth €500,000.
How are the others?
It's clear how to obtain a residence permit in Spain. But who is a competitor? Economic immigration is required by law in many European countries. For example, the "golden visa" in Portugal costs as in Spain €500,000. Moreover, the residence permit in the country are also at purchase multiple items, the total value of which is indicated above bars.
As recently reported , the minimum value of the property, which will allow the EU non-residents to obtain a residence permit in Malta, reduced to €275,000 from the current €400,000, according to Malta Today. In this case, the figure in the south of Malta and Gozo is €220,000.
It's not expensive to obtain residence permit in Latvia. You must purchase real estate in the amount of €142,288 in the capital cities or national significance, or real estate in the amount of €71,144 in rural areas.
In all countries a temporary residence permit shall be issued not only directly to the investor, but also his family members: spouse and minor children.
Text: Nadezhda Degtyareva, especially for ee24.com
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