I read that the Spanish government is considering lowering the amount needed for the purchase of real state for the GV. Does anyone know anything about this? Many thanks .
Hi, again… Did you decide to buy in Spain? Do you know why everyone is focused more on Portugal? From what I’ve read, the $500K program seems to be similar. Thanks!
The programs are not at all similar from my perspective. Investment vehicles, taxation, and residency / naturalization requirements are major differences. Also Portugal is a different country, with different people and different politics. To each his own.
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Spain is harder to convert into citizenship. However, Spain is bigger and has a lot of nice places and people often speak Spanish. Portugal is easier to get citizenship but it’s smaller and you have to learn to speak Portuguese and well. It’s really where you want to live.
To add on, in order to obtain PR status in Spain, you need to move there (live >183 days a yr) for 5 yrs.
I would like to be on or near the Mediterranean. I really prefer Spain over Portugal, which is very nice, I agree, but not for living. Algarve is great, beautiful, but the water is very cold and the window of opportunity for actually enjoying the ocean is very small. Besides, I’m not for living in small places. I need cosmopolitan, large cities with international airports nearly. Portugal is very provincial for my taste. Excellent for visiting, though. I can’t understand what is the the big deal about PR, as opposed to residency that is renewed every two years. For our purposes, it’s flexible enough so that we can choose to stay or go somewhere else. The 183 day rule is a drawback, I agree, especially since that would trigger tax residency. We will move next year and are investigating the options and the financial situation. GV doesn’t seem to be an appealing option.
Thanks,
C