Spain - General FAQ's
Below are some of the most frequent questions asked by our investors. Should you have any further queries, please contact us and we will gladly put you in the picture.
Can foreign nationals own property in Spain?
Foreigners can freely purchase property in Spain. In fact for decades, worldwide investors have purchased heavily in Spanish real estate.
Since the restoration of the monarchy in Spain, the gates have been opened to heavy foreign investment in property which, during the days of General Franco, was greatly restricted.
Why should I choose Spain?
The Spanish property market over the last 20 years suggests it is one of the best investment opportunities in the current economic climate. Spain represents a safe and stable investment and has seen spectacular property prices rises in recent years.
Excellent rental income can be obtained from your property provided it is located in a good tourist location close to all amenities. Southern Spain boasts around 320 days of sunshine a year, attracting year-round tourism, whether for the beautiful sandy beaches in the summer or the top-class golf courses during the cooler months.
What is the economic and political situation?
Despite the decline of many of its industries during the world recession, Spain achieved the highest average growth rate in the European Community during the 1980s. Its economy boomed from 1986 to 1990, averaging an annual growth rate of 5%.
The centre-right government of former President Aznar successfully gained admission to the first group of countries to launch the Euro on 1 January 1999.
Spain is now fully integrated into European institutions and is also a NATO member. After the terrorist attacks on the US on September 11, 2001, President Aznar became a key ally in the fight against terrorism. Spain backed the military action against the Taliban in Afghanistan and has taken a leadership role within the European Union in encouraging increased international cooperation on terrorism.
The cost of living in Spain is generally around 20-30% less than in the UK.
How do we travel to Spain?
As the property investment market continues to grow in Spain, airlines constantly strive to keep up with the huge demand for more flights to all main tourist destinations in Spain. Numerous low cost airlines offer low fares, internet bookings and increased services to cater for the booming tourist trade in Spain. As ease of access increases, Spanish property remains ever popular with high returns gained from a stable tourist economy.
The most popular destinations for travel in Spain are on the Mediterranean coast, from Barcelona, Valencia, to Almeria, Granada and Málaga, all of which are served by major international airports.
Rail and road links are also considered to be excellent and fall in line with normal European standards.
What is the direct flying time from UK to Spain?
Flight times are a mere 2 ½ hours.
Is a visa required to enter Spain?
A Visa is required by all except the following country citizens for stays of up to 90 days:
- nationals of EU countries, Australia, Canada, Japan and US;
- nationals of Andorra, Argentina, Aruba, Bolivia, Brazil, Brunei, Chile, Colombia, Costa Rica, Croatia, Cyprus, Czech Republic, Ecuador, El Salvador, Estonia, Guatemala, Honduras, Hungary, Iceland, Israel, Korea (Rep. of), Latvia, Liechtenstein, Lithuania, Malaysia, Malta, Mexico, Monaco, Netherlands Antilles, New Zealand, Nicaragua, Norway, Panama, Paraguay, Poland, San Marino, Singapore, Slovak Republic, Slovenia, Switzerland, Uruguay, Vatican City and Venezuela;
- transit passengers continuing their journey by the same or first connecting aircraft provided holding valid onward or return documentation and not leaving the airport (except nationals of Afghanistan, Bangladesh, Congo (Dem. Rep.), Ethiopia, Ghana, Iran, Iraq, Liberia, Nigeria, Pakistan, Somalia and Sri Lanka who always require a transit visa.
As the above list is liable to change at short notice, visitors are advised to check transit regulations with the relevant Embassy or Consulate before travelling.
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