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Why Invest in Spain?

Why Invest in Spain?

Spain is one of the most attractive EU countries to invest in for a number of reasons, especially if you plan to live in the country permanently or for several months of the year.

There are many opportunities, not least of which is housing. In fact, it is possible to obtain a residence permit if you plan to invest a minimum of 500,000 euros in real estate in Spain.

The Profitability of the Real Estate Market Is High

Many types of investments can be made in Spain, but we believe that the one that stands out the most is real estate. In fact you can even obtain a residence permit for it, as we have seen before.

It is true that a few years ago the country went through a real estate crisis, but the market has recovered and this problem hardly affected the higher value properties. In fact, in 2020, the profitability of the real estate market, despite the pandemic, was 5.6% on average– figures that soar in the best neighborhoods of major cities and in the luxury areas of the coast.

In addition, mortgages are cheaper than ever, making buying property in Spain one of the best options we have when it comes to investing.

Foreigners Can Buy Companies

Many countries make it easy for foreigners to buy companies, but Spain is not one of them.

The only thing a foreigner is required to do is to obtain what in Spain is called a NIE, which is nothing more than an identification document with which foreigners identify themselves in order to pay taxes.

For example, if we are going to buy a house, we will be asked for this NIE, and the same for setting up a company, filling in official forms, requesting permits for the new company to open, etc.

How Do I Obtain the NIE?

Obtaining the NIE is more or less complex depending on where you come from. If you come from an EU country, it will be easier to obtain it than if you come from a non-EU country.

In any case, it is best to put yourself in the hands of professionals such as the law firm My Spain Visa, who have been working with NIE in Spain for more than fifteen years, which means they know how to deal with the authorities and how to solve any problems that may arise.

Spain Is One of the Best Places to Live

Another reason to invest in Spain is that it is one of the best places to live.

The country is strategically located and has the best climate in Europe, which is why hundreds of thousands of foreigners live in Spain all year round.

Its communications are among the best in Europe, it has the best motorway network in the EU, life expectancy is the second highest in the world, and it is one of the safest countries. This together with its kilometers of beaches and excellent food, make it one of the favorite destinations for investors from all over the world.

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by Brian Perry // Brian Perry is a contributor to Businessing Magazine.

Opinions expressed by contributors are their own.