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Spain is a great place to live, with a temperate climate where the sun shines most of the year, an affordable cost of living and a low crime rate. Spain also has a rich cultural scene as well as having many natural attractions; you will not run out of things to see and do.
The Benefits of Spanish Residency:
- You can travel directly from your country of origin to any country within the Schengen area
- Spanish residents can travel freely within the Schengen area for three out of every six months, and can enjoy multiple entries
- There is no residency requirement
- You and your family are issued renewable European Residency Visas for as long as you maintain your investment
- It is affordable to purchase a house since real estate prices are currently at their lowest
- You can generate an income from your property by renting it out since Spain is a very popular tourist destination
- You can be granted European residency within two to three months
- Residents by investment are given the same rights to education as citizens
- The country boasts of an excellent health care system
- Spanish residents can open bank accounts and expand their investments globally
- Residency is a path to eventually gaining Spanish citizenship
Additional Costs of Real Estate Investment
- Land tax between 350 and 500 per year for each property
- Administrative fees around 2,000
- Accountant fees -500 the first year and 250 per subsequent year
- Notary fees some 4% of the price of the property
- National Transfer Tax is shouldered by the developer