The first issued Golden Visa has led to a historical turning point for the luxury real estate market in Spain. The Golden Visa grants permission for permanent residency established by the government of foreign real estate investment incentives of the Iberian Peninsula. A Chinese business executive has been the first to benefit from the Golden Visa. According to Pie magazine, the lady in question purchased two properties on Spanish land, one in the capital Madrid, and one in Barcelona along…
In order to liven up the economy, at the beginning of 2013, the Portuguese government opted for a reform package with tax incentives for retired foreigners that decide to live in the country for more than 183 days a year, creating the “Golden Visa”, a new type of visa for non-EU citizens. The Golden Visa allows resident citizens outside of Europe that invest more than 500 million euro in real estate in Portugal to obtain European residency, meaning that they…
