1 May, 2017 @ 14:00
1 min read

Spain raised more than €2 billion from golden visas to wealthy foreigners

golden visa
GOLDEN TICKET: Spain raises more than €2 billion

SPAIN has raked in more than €2 billion by selling so-called ‘golden visas’ to wealthy foreigners.

GOLDEN TICKET: Spain raises more than €2 billion
GOLDEN TICKET: Spain raises more than €2 billion

It comes after the government introduced legislation in 2013 that offered residency permits to investors and highly-qualified professionals.

Since then some 2,236 foreigners have bought a residency, bringing in €2.16 billion to Spain’s coffers.

Some 72% of the investment went into property, and Chinese and Russian millionaires made up 59.4% of the total of those who took advantage of the scheme.

A total of 714 Chinese nationals were granted visas after investing €716 million into property, financial assets and businesses, while Russia was close behind with 685 nationals investing €567 million.

Laurence Dollimore

Laurence has a BA and MA in International Relations and a Gold Standard diploma in Multi-Media journalism from News Associates in London. He was news editor for all print editions of the Olive Press from 2016 to 2019 taking on the role of Digital Editor between January 2020 and February 2021.

GOT A STORY? Contact [email protected] or call +34 951 273 575 Twitter: @olivepress

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