: Value Investing Forum - Singapore, Hong Kong, U.S.

Full Version: Spain to Initiate Residency Program for Wealthy Immigrants
You're currently viewing a stripped down version of our content. View the full version with proper formatting.
Any merits of moving to Spain for just a small lump sum of euro160,000?

November 23, 2012 | Filed under: Spain | Posted by: Jessica

Spain is contemplating a new immigration program which would allow foreigners to become eligible for Spanish permanent residency just by investing a minimum amount of money in the country. Earlier this week, the Spanish government announced that it is currently considering a proposal to create a special foreign investors visa program allowing foreigners investing particularly in ‘Spanish Property Markets’ to be granted a permanent residency status in the country. Immigration experts have appreciated the Spanish immigration authorities’ program claiming that obtaining a Spanish passport will enable its holders to travel without a visa not only throughout the European continent, but also to other countries which have such arrangements with Spain. The experts also said that the initiative will allow the Spanish government to get the country out of the economic crisis from which it has been suffering for a long time now. They said that, although the prescribed investment amount is quite low as compared to other countries in the region with similar policies, it is enough to put Spain in the competitive list of these countries.

Spain is currently considering a proposal to grant permanent residency to foreign investors in local property market. The officials have said that the program will allow all those foreign investors who have invested in the country a sum of at least 160,000 Euros to become eligible for Spanish residency. The Spanish officials also said that, unlike other countries having similar investment programs, this scheme will be targeting everyone without any restrictions.

Immigration consultants in Middle Eastern and South Asian countries are claiming that the program will benefit the nationals of their countries the most. The consultants said that having a Spanish passport in the hand will allow its holders to travel all the European Union countries having visa free travel arrangements with Spain. Apart from this, the Spanish passport holders will also be able to travel to more than a hundred other countries in the world, with which it has such visa agreements.

Immigration experts are claiming that such programs will put Spain into the list of countries which allow foreigners such opportunities and attract them to their markets. Experts also said that the most important parts in the whole situation would be two of the programs main features. Firstly, unlike other countries whose foreign investor programs only target specific class of wealthy individuals, the program will aim for mass investments without narrowing down the eligible investors’ list. Secondly, the low amount of investment that the program requires is sure to catch the attention of nationals of several countries of the world, like Pakistan, India, the Middle East, etc.

Foreigners, who mostly go for such programs offered by countries like Canada and the United States, will mostly prefer Spain over other countries while investing abroad. This might also put Spain in competition with the United Kingdom, which enjoys a great status in such programs, but has restrictive immigration policies.

However, due to the fact that the program was announced informally by the officials, several important and technical details are still uncertain. The Spanish authorities have said that, once the program is approved for creation and implementation, they will announce all the relevant details of it.
Is this sustainable?
which part not sustainable?
(07-01-2013, 09:34 PM)pianist Wrote: [ -> ]which part not sustainable?

May help to solve the property market problem. But will it introduce other problem such as social?
I am wondering for those new immigrants, how will be the tax structure, welfare and healthcare be like.
Can those system be supported ? State Cost either go up mid-long term or the immigrants have to pay high medical cost.