The Chinese have always been recognised for their professionalism and dedication to their families, two traits that are welcomed wherever they go and have enabled them to prosper, even where the economic outlook is not the best.
Therefore, Spain has opened its doors to Chinese expatriates who want to invest in the Iberian country, bring their culture and what they have to offer, help diversify the economy and bring new business opportunities.
For several years now, many countries, including (EU) European Union countries, have been offering Golden Visa programmes to people from other nations who have invested a certain amount in real estate or property; and Spain has proven to be a valuable option for Chinese investors.
The state of Chinese residents in Spain
There are a considerable number of Chinese residents in Spain, and their circumstances vary, but many are in a stable state. This is especially true for those who choose to invest in real estate in the country to obtain a Golden Visa as part of Spain’s programme to encourage international investment.
There are many reasons why Chinese nationals investing in European countries are sufficient to obtain stable residency, but one of them is undoubtedly the fact that Spain is a hospitable country with a diverse expatriate community and a relaxed attitude.
Of course, there are also laws and regulations to make sure that residents from China in Spain can have the best experience, and to go hand by hand with the norms, as well as to avoid misunderstandings regarding taxes, for Chinese investors to have a smooth time living and working in Europe.
Laws for Chinese residents in Spain
The Spanish laws for residents in the country apply for residents from any country not belonging to the European Union, and therefore, these are the laws that apply for Chinese residents who have obtained their permit, either by applying for a visa, or by obtaining a Golden Visa for investment.
However, Chinese or people from any country out of the EU/EEA and Switzerland residents in Spain, and especially those considering investing more than €500.000 in real estate, or one of the other valid investments to apply for a Golden Visa in Spain, should be aware of a few details regarding what their permit offers them.
First, when the investor has applied and received a favorable response, that is, the person is granted with an investor visa, she/he will be able to live in Spain for up to one (1) year. After this period has expired, the investor is able to apply for a Resident Visa.
The Resident Visa allows the person to stay for up to two (2) years in Spain and is renewable, always that the person can still be able to demonstrate their initial investment.
Another thing Chinese residents in Spain, as well as residents from other countries should know, is that, by applying for a Golden Visa, the investor can also request a visa for her/his family, that is: Spouse, children (either under age, or 18 years old or older who still depend economically on the investor), investor’s parents and spouse parent’s.
A Golden Visa is very attractive for Chinese investors since it offers a lot of flexibility for the investor and family, who will be able to live, study and work in Spain, travel freely across the EU and obtain important documentation.
Finally, in order to keep the residence and be eligible for a Resident Visa, the investor only have to visit Spain once during the year, and is not required to stay for a fixed amount of time; which brings even more flexibility.