There is no doubt that Spain and Portugal serve as gateways to a market of over 500 million consumers in the European Union, providing Latin American investors with an ideal platform to expand their businesses internationally.
Membership in the eurozone, on the other hand, provides financial stability and reduces risks associated with currency volatility. The combination of advanced infrastructure and existing government support in both countries creates a conducive environment for long-term investment and business growth.
One advantage shared by both Spain and Portugal is Chile’s relationship with the European Union, which renewed its Trade Agreement with Chile last year. This allows, for example, our exports of industrial goods to the EU to be tariff-free, as well as opening opportunities for Chilean citizens to provide services in the EU as independent professionals.
Spain, in particular, ranks as the fourth most attractive country for investors among the top ten European countries, according to the 2024 «European Investor Intentions Survey.» The survey also includes a ranking of the ten most favorable European cities for investment, where Madrid and Barcelona feature prominently.
Spain’s main attractions for investors, according to Santander Trade, include the booming tourism industry, highly efficient transportation network, development of renewable energies, cultural proximity to Latin America, and a restructured financial sector.
This is reflected in the UNCTAD’s World Investment Report 2023, which states that Foreign Direct Investment (FDI) inflows into Spain reached $34.8 billion in 2022. In the same year, Chilean real estate investment abroad reached $10 billion.
In terms of guarantees, Spain has signed bilateral agreements with around 90 countries and is also part of the MIGA (Multilateral Investment Guarantee Agency) convention.
Portugal, on the other hand, offers a range of attractions to Chilean investors. The Chile-Portugal Chamber of Commerce highlights the fact that, beyond being a gateway to Europe, Portugal itself is a market of approximately 500 million people with high purchasing power.
Additionally, they point out that Portugal has a favorable legal framework for investment, demonstrated by entities such as the Agency for Investment and Foreign Trade of Portugal (AICEP), which provides facilities in procedures and communications, along with other organizations like Cutting Red Tape and Empresa na Hora.
Portugal has a particular interest in fostering startups, and since 2016, Lisbon has hosted the Web Summit annually, considered the world’s largest technology event.
Last but not least, investing €500,000 in Spain or Portugal opens the door to their Golden Visa programs, granting residency in these countries and subsequently European citizenship for you and your family.
How can we assist you at AIM Global? We offer services such as company formation, real estate brokerage, due diligence procedures, opening bank accounts, and tax representation. We also provide assistance with obtaining a Foreigner Identification Number (NIE).
And if you’re interested in the Golden Visa, Digital Nomad visa, or entrepreneur visa, don’t hesitate to schedule a meeting with our team. We are experts in international mobility: if you want to invest in Europe, leave it in the hands of the best.
