Benefits of Residency in Spain
The new Residency law makes Spain one of the most attractive and financially efficient EU countries to invest in
Visa-free access to all 26 Schengen countries
The Schengen zone is a group of 26 European countries that have abolished passport and immigration controls at their common borders. It functions as a single country for international travel purposes, with a common visa policy. The current area comprises a population of approximately 400 million people and currently consists of Spain, France, Germany, Austria, Belgium, Denmark, Estonia, Finland, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Czech Republic, Liechtenstein, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Slovenia, Slovakia, Sweden and Switzerland.
Residency in a desirable European country
Spain consistently ranks as one of the world''s most desirable places to live. Its excellent quality of life, enviable year-round climate, historic cities, renowned gastronomy and beautiful beaches are just some of the reasons why investors choose to buy here. The country''s health system is widely regarded as one of the best in the world and, according to a recent survey by leading medical journal The Lancet, its population has the highest life expectancy in Europe. Spain also boasts one of the world''s largest economies, an excellent infrastructure and good travel links to the rest of Europe.
Invest in a country with a stable political & economic climate
Spain''s economy is the 5th largest in the European Union and in October 2013 came out of a two year recession. The exit from the recession is mainly down to exports, a strong area of growth, as well as a record tourist season as holidaymakers shied away from resorts in politically troubled countries. Borrowing costs are also down and the Ibex-35 index has so far risen more than 20% in 2013. The current ruling party in Spain is the Partido Popular, which actively encourages foreign investment.
Opportunity to benefit from the single currency (Euro)
On January 2, 2002, the new European currency, the euro, became official in 12 countries, known as the Eurozone. The Euro is now used in 17 EU member states (currently Belgium, Germany, Ireland, Spain, France, Italy, Luxembourg, the Netherlands, Austria, Portugal, Finland, Greece, Slovenia, Cyprus, Malta, Slovakia and Estonia). Use of the Euro means that not only are fluctuation risks and exchange costs eliminated and the single market strengthened, but the euro also means closer co-operation among Member States for a stable currency and economy.
Other benefits of the single currency include:
- More choice and stable prices for consumers and citizens
- Greater security and more opportunities for businesses and markets
- Improved economic stability and growth
- More integrated financial markets
- A stronger presence for the EU in the global economy
The scale of the single currency and the euro area also brings new opportunities in the global economy. A single currency makes the euro area an attractive region for third countries to do business, thus promoting trade and investment.
Easy renewal process
The process for renewal of the Residency permit is quick and straightforward. Minimal presence in Spain is required, allowing tax residency outside of Spain. There is no limit to the amount of times this 2-year residency can be renewed.
Allow family re-unification
The spouse and children under 18 can apply for Residency at the same time as or after the initial application.
Excellent international schools
Spain''s International schools are increasingly being considered to be of a better standard than those in many other European countries. There are fewer discipline problems, class sizes are fairly small and the atmosphere is relaxed. Depending on which International school you choose, they can either follow the Spanish education system with the language of instruction being a mix of English and Spanish or follow the education system of the school, with Spanish being taught as a second language. Most International schools are based in the Costa del Sol which tend to follow the British Education system.