Chilean real estate investment in Spain is growing

Investing in the real estate market abroad has become a sustained trend in recent years for Chilean professionals and entrepreneurs.

Around 2019, 80% of investment remained in Chile, while 20% went abroad. Today, that trend has reversed, and 80% is focused on foreign markets, with figures exceeding US$10 billion by 2022. 

While most of our compatriots who invest abroad do so in the United States, a significant percentage turn their attention to Europe, specifically to Spain. 

As the newspaper points out strategyThere are approximately one million Chileans living abroad, according to figures from the INE (National Institute of Statistics). Of these, 10% choose Spain as their destination. 

Golden Visa Spain

In line with this trend, there has been sustained interest in the Spanish Golden Visa, given that a real estate investment starting from €500.000 opens the door to this program.

There is also the option of investing in other assets, such as shares in Spanish companies (€1 million) or government bonds (€2 million). But real estate remains the most attractive option. 

This program allows you to obtain residency with just one annual visit to Spain every 3 years, which is the renewal period of the Visa; a period that is later extended to 5 years. 

But it is also possible to obtain Spanish citizenship (passport). To do so, the applicant must reside in Spain for at least 183 days after investing, within a period that can range from 2 years—for Chileans and Latin Americans in general—to 10 years.

The advantages of having a Hispanic passport

Having citizenship not only allows you to travel without restrictions through the countries of the Schengen Area (European Union). According to a recent publication According to the consultancy Henley & Partners, the Spanish passport is one of the most powerful in the world.

This is determined by the number of destinations that its holders can visit without a prior visa, according to information handled by both the International Air Transport Association (IATA) and the consulting firm that conducted the study. 

In practice, this means that with a Spanish passport (and also those of France, Germany, Italy, Japan, and Singapore) you can access 194 destinations worldwide, either with or without a visa. It's important to note that this includes visa-free travel to mainland China.

Attractive tax benefits for foreigners

In addition to all of the above, there are tax regimes that offer interesting benefits to foreigners who come to settle in Spain.

For example, within the law that regulates Personal Income Tax (IRPF), a special regime was created that authorizes foreigners to pay a lower amount of taxes, as well as being exempt from declaring the profits generated in other latitudes.

Also known as the “Beckham Law”, as a result of the fact that English footballer David Beckham, who signed for Real Madrid in 2003, was one of the first to benefit from this regulation, which was enacted in 2004.

At AIM Global, we have a team of professionals specializing in international mobility, who are ready to guide you through the entire Golden Visa process, from the initial paperwork to finding properties compatible with the program and the best options for taking advantage of tax benefits.

Don't hesitate any longer and schedule a meeting with us. We'll take care of the legal details, allowing you to focus on your business, professional, and personal goals.