1 May, 2017 @ 14:00
1 min read

Spain raised more than €2 billion from golden visas to wealthy foreigners

SPAIN has raked in more than €2 billion by selling so-called ‘golden visas’ to wealthy foreigners.

GOLDEN TICKET: Spain raises more than €2 billion
GOLDEN TICKET: Spain raises more than €2 billion

It comes after the government introduced legislation in 2013 that offered residency permits to investors and highly-qualified professionals.

Since then some 2,236 foreigners have bought a residency, bringing in €2.16 billion to Spain’s coffers.

Some 72% of the investment went into property, and Chinese and Russian millionaires made up 59.4% of the total of those who took advantage of the scheme.

A total of 714 Chinese nationals were granted visas after investing €716 million into property, financial assets and businesses, while Russia was close behind with 685 nationals investing €567 million.

Laurence Dollimore

Laurence Dollimore is a Spanish-speaking, NCTJ-trained journalist with almost a decade’s worth of experience.
The London native has a BA in International Relations from the University of Leeds and and an MA in the same subject from Queen Mary University London.
He earned his gold star diploma in multimedia journalism at the prestigious News Associates in London in 2016, before immediately joining the Olive Press at their offices on the Costa del Sol.
After a five-year stint, Laurence returned to the UK to work as a senior reporter at the Mail Online, where he remained for two years before coming back to the Olive Press as Digital Editor in 2023.
He continues to work for the biggest newspapers in the UK, who hire him to investigate and report on stories in Spain.
These include the Daily Mail, Telegraph, Mail Online, Mail on Sunday and The Sun and Sun Online.
He has broken world exclusives on everything from the Madeleine McCann case to the anti-tourism movement in Tenerife.

GOT A STORY? Contact newsdesk@theolivepress.es or call +34 951 273 575 Twitter: @olivepress

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