One can apparently qualify for the investment-based GV in Spain (and Portugal, I think) by depositing 1 million euros in a Spanish (or Portuguese) bank. It seems as if that would be much simpler and faster (assuming one has the cash) than other GV investment routes (including purchase of real estate).
Is anyone going that route?
Obviously 1M euros is a great deal of money to keep tied up in a bank account, given ongoing living expenses. So I’m wondering whether once you’ve gotten the GV via the 1M bank-account route, you can then simply switch from it to a 500K property purchase and not lose the GV and have to restart the GV process on the new basis. If such a switch is feasible, one could thereby recoup the difference (500K) for living expenses, etc. That would make it a far more viable route.
dDoes anyone By selling my house in CA, plus using savings, I might be able to come by that amount of money. Does anyone else have more information on that route to the GV.
No one here so far has reported doing this route. It’s not popular, probably for the reason you state, who wants to tie up EUR1mm that way or lend it to Portugal at 0.0%.
General wisdom is that no you cannot change the category of investment. Once you buy a house, you can buy another house but you can’t then sell the house and buy funds.
If you’re in a hurry, at this point, the D7 is way faster.
I think you’ll find it’s gone up to 1.5million euros from 31 Dec 2021. Once you obtain citizenship after 6 years you can do what you like with the money sitting in bank. Have you thought of the investment fund route at now 500,000 eu instead of the other alternatives?
There’s plenty of information via Google and research carefully as I’m finding there’s plenty of people advertising to help obtaining your GV fees ranging from 15,000 to 40,000 over 6 years to obtain Permanent Residency or Citizenship. Some companies are based in Dubai! No legal protection stick to Portuguese based lawyers and companies.