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According to a report by China National Radio's "News Evening Peak," where is the best place to immigrate? The answers may vary, but if you ask where it is most convenient to immigrate, the answer is almost unanimously the same: Europe. Following Portugal and Cyprus, which introduced residency rights for property purchases, Spain is following suit.
On the 24th, Spanish Deputy Prime Minister Soraya Sáenz de Santamaría announced that the Spanish government is very likely to grant Spanish residency to foreigners who purchase properties in Spain worth over 500,000 euros or subscribe to over 2 million euros in Spanish government bonds. A 500,000-euro property in exchange for residency—are you tempted?
Currently, although this draft has been passed in the cabinet meeting, it still needs to be submitted to the Spanish Parliament to be discussed and voted on according to the formal legislative amendment process before it can be implemented as law.
Before the bill has even been officially introduced, immigration agencies have already begun preparing new Spain immigration programs. A reporter from China National Radio called an immigration agency in China, and the consultant, Mr. A, said that this policy is basically a done deal, and now it is just a matter of time.
Mr. A: This policy has not been officially launched by the Spanish immigration department yet. It is not just likely, it is 100% certain that it will come out, because Portugal has already launched it; it was officially launched in December last year, spending 500,000 euros on property to get permanent residency. After Spain saw this situation, because it previously had some immigration programs, they were all local, but the US has a national-level one, so Spain has also set it at 500,000 euros, and the official launch should be in the second half of this year.
Immigration agencies are busy making money, and Spanish property developers are also unable to sit still. Currently, a number of Spanish real estate companies have come to China to promote properties, waiting for the Chinese to become their "saviors."
Property Developer: This land is about 3 million square meters, by the seaside, and our clients can buy apartments or villas inside. Apartments start from 300,000 euros per unit, for example, a 188-square-meter unit. Education for Chinese children is also a very important goal, so we have a very famous international school in the residential area, which is a private school and seems to be one of the better international schools in Spain.
Can you really get residency by buying a property for 500,000 euros? Is it that simple? Mr. A said that the deposit requirement is very low, but this residency is only a temporary residency at the beginning.
Mr. A: There is no deposit requirement. You just need to keep a deposit of 10,000 or 20,000 euros in your account annually. It does not have to be a fixed deposit; it is just to prove that you can maintain a normal life in your account and will not cause instability for the country.
There are no other requirements. In fact, both Spain and Portugal are Schengen countries. Schengen countries cannot give you a permanent green card in one step. You must first obtain a five-year temporary residency, and you can only exchange it for permanent residency after five years. This is a regulation of Schengen countries. In fact, what you get is also a green card, it is just a temporary residency first, and it will be exchanged for permanent residency after five years.
Speaking of this, I guess some people have started to dream. With this residency, you can travel freely through the 26 Schengen countries, go shopping on the Champs-Élysées during the day, soak in hot springs in Budapest at night, and watch a live Barcelona vs. Real Madrid match on the weekend. What a wonderful life.
