Spain’s Golden Visa WILL CRUSH Portugal’s in 2024
TLDRThe discussion explores the popularity of Spain's Golden Visa program over Portugal's in 2024, highlighting the benefits of property investment and the potential for citizenship. Spain's program, with no residency requirements and a quicker processing time, is gaining traction, despite concerns about possible future changes to the property option. The strong Spanish passport and the opportunity for visa-free travel within Europe are also significant draws for applicants.
Takeaways
- 🌟 A Golden Visa is a residency permit granted in exchange for investment in a country, often through property, business, or other types of investment.
- 🏠 The Spanish Golden Visa remains popular due to its property investment option, a route that was recently removed from Portugal's program.
- 📈 Portugal's Golden Visa used to offer an entry point of around €280,000, but this has increased to €500,000 and must now be invested in a qualifying fund or business.
- 📍 There are no stay requirements for the Spanish Golden Visa, unlike Portugal, which requires a stay of one week per year for five years before citizenship can be applied for.
- 💼 Investment opportunities for Golden Visas in Spain include property, business investments, government bonds, and bank accounts, with property being the most common choice.
- 🕒 Processing times for Spanish Golden Visa applications are quicker than in Portugal, with an approximate time frame of 3 to 6 months.
- 🏡 The Portuguese Golden Visa processing time is longer, around 15 months, and there is a backlog due to changes in the program last year.
- 🗝️ Citizenship in Spain can be achieved in 10 years for most, but with an ex-Spanish colony passport, it can be obtained within two years, with a stay requirement of over six months per year during the last five years.
- 🔥 There has been a six-fold increase in applications for the Spanish Golden Visa in January compared to Portugal, indicating a shift in preference.
- 💰 The minimum investment for a Spanish Golden Visa through property is €500,000, but there are schemes that can lower this entry point to as little as €350,000.
- 📈 ROI for property investments in Spain is generally positive, with commercial properties potentially offering tax benefits and guaranteed buyback schemes.
Q & A
What is a golden visa?
-A golden visa is a residence permit issued to individuals who invest a certain amount of money into a specific country. In return for their investment, they are granted residency rights in that country.
How has the Portuguese golden visa program changed recently?
-The Portuguese golden visa program has removed the option to obtain residency through property purchase. Previously, buying property in Portugal for a certain amount would grant an individual a golden visa, but this route is no longer available.
What are the main reasons for the increased interest in the Spanish golden visa program?
-The main reasons for the increased interest in the Spanish golden visa program include the continued option to obtain residency through property purchase, the strong Spanish passport, and the absence of stay requirements for the initial period of residency.
What are the investment requirements for obtaining a Spanish golden visa?
-The most popular route to obtaining a Spanish golden visa is through property investment, with a minimum investment of 500,000 euros. Other investment options include putting money into businesses, government bonds, or bank accounts, but these typically require larger investments.
How long does it take to process a golden visa application in Spain?
-The processing time for a Spanish golden visa application is relatively quick, with an approximate time frame of 3 to 6 months from the start of the purchasing process to obtaining the visa.
What are the stay requirements for maintaining Portuguese and Spanish golden visas?
-For Portugal, the golden visa holder must stay in the country for at least five weeks over a five-year period to qualify for citizenship. In contrast, Spain does not have any stay requirements for maintaining the golden visa, allowing individuals to obtain residency without physically residing in the country for a certain period.
How long does it typically take to obtain Portuguese and Spanish citizenship through their respective golden visa programs?
-In Portugal, individuals can apply for citizenship after six years of holding a golden visa, although recent changes may adjust the timing to start from the beginning of the application process. In Spain, the standard route to citizenship is after 10 years of holding a golden visa, but this can be shortened to two years for individuals with an ex-Spanish colony passport.
What are the potential returns on investment for property purchases made for golden visas in Spain and Portugal?
-In Spain, property investments can yield strong returns over time due to the potential for property value appreciation. Commercial properties may offer tax advantages and guaranteed buyback options. In Portugal, while property is no longer an option for the golden visa, investment funds can provide returns, though these are subject to market performance and may be considered higher risk.
How do the Portuguese and Spanish golden visa programs compare in terms of popularity and application numbers?
-The Portuguese golden visa program was very popular due to its previous property investment option and favorable tax regime. However, recent changes have led to a shift in interest towards Spain, where the property route remains open and the program has seen a significant increase in applications.
What are some of the benefits of holding a Spanish or Portuguese passport?
-Both the Spanish and Portuguese passports are highly ranked, offering visa-free travel to many countries. The Spanish passport is currently ranked as the second strongest in the world, while the Portuguese passport ranks fourth, providing significant international mobility and ease of travel.
Outlines
🌟 Introduction to Golden Visas and Spain vs Portugal
The video begins with Josh introducing the topic of Golden Visas, a program where individuals can obtain residency in a country by investing in it. The focus is on the Spanish and Portuguese Golden Visas, which have gained popularity due to their attractive benefits. Sam from Hurn Assets shares insights on why the Spanish Golden Visa is expected to surpass the Portuguese one in 2024. The discussion covers the definition of a Golden Visa, its benefits, and a comparison between the two countries' programs, highlighting the shift from Portugal to Spain due to recent changes in Portuguese policies.
📈 Investment Opportunities and Requirements
This paragraph delves into the specifics of investment opportunities for obtaining Golden Visas in Spain and Portugal. It explains the various investment options such as property, government bonds, and business investments, and their respective minimum investment amounts. The paragraph also discusses the processing times for both visas, emphasizing the longer wait times for Portugal's Golden Visa compared to Spain's more expedited process. Additionally, it touches on the pathway to citizenship, noting that while Portugal offers a quicker route to a passport, Spain offers the possibility of obtaining citizenship in as little as two years for certain individuals.
🏠 Property Investment and Its Impact
The discussion in this paragraph centers around property investment as a primary route to obtaining a Golden Visa, especially in Spain. It highlights the appeal of property investment due to its potential for appreciation and the security it offers to investors. The paragraph also addresses the changes in Portugal's Golden Visa program, where property is no longer an option, leading to a shift in interest towards Spain. The comparison extends to the investment amounts required and the potential returns on investment, with Spain's property market appearing more attractive despite rising prices.
🔄 Expected Trends and Company Insights
This paragraph focuses on the expected trends in the Golden Visa market and the reasons behind Spain's anticipated rise in popularity over Portugal in 2024. It discusses the significant increase in applications for the Spanish Golden Visa and the factors driving this growth, such as the removal of the property route and the loss of tax benefits in Portugal. The paragraph also highlights the benefits of Spain's Golden Visa program, including the strong Spanish passport and the opportunity for certain individuals to obtain citizenship more quickly. Furthermore, it touches on the investment schemes available that can lower the entry point for Spain's Golden Visa program.
👋 Conclusion and Contact Information
The video concludes with Josh thanking Sam for his valuable insights and discussion on Golden Visas. Josh emphasizes the importance of understanding the options and making informed decisions, especially given the potential changes in the programs. He encourages viewers interested in learning more about Golden Visas to reach out to Sam for further assistance, providing contact information for Xpat Everywhere. The paragraph ends on a positive note, inviting viewers to continue their exploration of the Golden Visa opportunities.
Mindmap
Keywords
💡Golden Visa
💡Investment
💡Residency
💡Citizenship
💡Property Investment
💡Processing Times
💡Stay Requirements
💡Investment Funds
💡Returns on Investment (ROI)
💡Non-Habitual Residency (NHR)
💡Ex-Spanish Colony Passport
Highlights
The Golden Visa program allows investment in a country in return for residency rights.
The Spanish Golden Visa is expected to surpass the Portuguese Golden Visa in popularity in 2024.
Portugal removed property as an option for the Golden Visa, shifting interest towards Spain where property investment is still an option.
Spain has no stay requirements for the Golden Visa, unlike Portugal which requires a stay of one week per year.
The investment options for the Spanish Golden Visa include property, business investments, government bonds, and bank account investments.
The cheapest route to a Spanish Golden Visa is a 500,000 Euro investment in property.
Portugal's Golden Visa requires a 500,000 Euro investment into a qualifying investment fund or business.
Processing times for the Portuguese Golden Visa can take up to 15 months, while Spain has a much quicker processing time of around 6 months.
Portugal offers citizenship after 6 years with low stay requirements, while Spain typically requires 10 years for citizenship.
Holders of an ex-Spanish colony passport can obtain Spanish citizenship within two years.
Spain's Golden Visa applications saw a six-fold increase in January compared to the previous year.
The Portuguese government removed the non-habitual residency tax benefits, making Spain a more attractive option.
The Spanish Golden Visa offers the benefit of visa-free travel throughout Europe and the ability to reset travel rules by returning to Spain.
Commercial property in Spain can be a tax-efficient investment option for the Golden Visa.
Returns on property investments in Spain are expected to be positive, with potential for capital gains.
Investment funds in Portugal may offer good returns, but the market volatility can be a concern for some investors.
The Spanish passport is ranked as the second strongest in the world, making it a highly desirable option for a second passport.
There are concerns that Spain may follow Portugal's lead and remove property as an option for the Golden Visa in the future.