Spanish residency is held by more than 33,200 foreigners

According to data from the Spanish Ministry of Foreign Affairs, 33,237 foreigners are residents of Spain under the Golden Visa Program.

According to the same source, 14,732 foreign people applied for residency in Spain through the Residency by Investment program last year alone, which is the biggest rise since 2013.

However, according to a report by ON Economia, the Ministry has not disclosed information regarding the quantity of resident permits granted to Russian nationals.

Most Visas Are Issued Through the Real Estate Investing Option

According to Ministry data, 12,723 of the 33,237 residence permits granted under the Golden Visa Program are for business and real estate investors (12,091), with the remaining permits being for family members

Family members are not included in the Ministry’s statistics, which only pertain to investors with legal permits.

Approximately 5,300 investors with valid permits are from non-EU nations, primarily the United Kingdom, according to the same source. A total of 4,082 Asian investors—mostly from China—1,377 North American investors, 1,052 Central American investors, and 821 African investors were present at the same time.

The option to invest in real estate was eliminated

Internationals can obtain residency under Spain’s Golden Visa Program as long as they complete the necessary conditions, select one of the choices available, and contribute financially.

The real estate investing option is this program’s most well-known choice. Rich foreigners have to spend €500,000 on Spanish real estate in order to be eligible for this program

However, Spain declared in April of this year that this route would be eliminated in an effort to address the housing issue.

Pedro Sanchez, the government’s president at the time, made the announcement.

The Spanish prime minister also stated that he will take all necessary steps to guarantee that housing is a right rather than a venture.

Spain’s Golden Visa Program is one of the most well-known in Europe and makes a substantial economic contribution to the nation.