Why I Don’t Like Spain’s Golden Visa Program

[@pepeperezperez2793]

I am spaniard, please listen to Andrew. He is absoluty right.

[@JohnS-zq8ks]

Spain's tax on world-wide wealth is disqualifying. The fact that the tax remains tells me politicians don't want me there.

[@jamieopulence]

Let me tell you - even with Spain being 10 years to apply for citizenship, you could add an extra 3 to 4 years for the processing. The country is bureaucratically junk. Many beautiful aspects to Spain. But the bureaucracy holds her back.

[@dantelossantos7562]

Government its tryiung to push comunism here and people does not understand how bad that is for them :/

[@moniq56]

Now with the new telematic process the waiting time is only a year for the processing. And if you’re from Latin America you only have a residence period of 2 years to apply. So it can be very efficient for some people.

[@liamdorvilier]

@@moniq56 What about Haiti?

[@moniq56]

@@liamdorvilier Haití is not a Latin American country. So people from Haiti would not be eligible for the time reduction.

[@PedroSanchez-zv1lr]

I´m from Spain, I´m wishing to get rich to leave this socialist-comunist country plenty of civil servants who doesn´t want to help you in anyway.

[@danquixote6072]

I heard really it was the right that was proposing to increase the amount of time it takes to get citizenship from 10 to 15 years!! The bureaucracy is a nightmare but if you are going somewhere else, be careful what you wish for - Spain has a lot going for it.

[@PedroSanchez-zv1lr]

@@danquixote6072 I don´t know about the time to get citizenship, I´m Spanish by birth. It´s not only the bureaucracy, It´s the mentality of the people, they don´t want to help you. I lived in UK and Australia and everything in that two countries is quick.

[@FromTheBiggining]

Hola Pedro,acabo de leer tu comentario. Qué lugar, en tu opinión, sería el mejor para vivir con quizá dos mil euros por mes. Pienso aplicar por visa de residencia, pero no estoy segura todavía.

[@sbkpilot1]

Spain has a wealth tax starting at 700K Euros.... someone with 700K EUR isn't exactly wealthy, it borders on the ridiculous. For this reason alone I will never ever consider becoming a tax resident of Spain.

[@youtubeuser8470]

average salary in spain is 1300-1500 eur so... hahahha

[@albertoleoncebrian]

Hi Andrew, I am a Spanish, living in Spain, but I also lived abroad for quite some time. The country is in full woke mode since about 2004, and it's only getting worse. The property risk is not just confiscation but also occupation of the property, with a very sluggish legal system if you want to recover your property. New and increasing local donation/transmission/iheritance taxes on the way. Also if you rent your property but you are not resident, taxes are higher and no deductions will apply. On the good side, Spain allows lots of dual citizenships, good and cheap medical assistance, and the lifestyle is great (for visiting) if you have some money in the pocket.

[@davidgimenoarrietagimenoar7510]

Europe is a mess now!!if u are looking for freedom

[@troytrey]

Spain doesn’t really allow dual citizenship except in a few cases

[@ayuyade]

As another commentor said, dual citizenship is almost not a thing in Spain with a few exceptions. And when it comes to the medical system, it depends on where you live. I live in the Spanish countryside and the hospitals here are garbage. They won't even look at you unless you're dying. And preventive treatments or checkups are not a thing. Universities are terrible too. I would much rather opt out of so many taxes and social security if I still have to pay the private sector anyway.

[@victorpdiez7688]

100% agree with you.... taxes are increasing each year, bureaucracy is incredible annoying, unemployment is a problem, worst place to start up a business.... great for tourist and healthcare while it last…

[@christianrodriguez3821]

@Personal123 It's totally true, compared to most of Western countries, Spain is one of the most accepting countries, meaning you won't face any problems even in smaller cities and towns.

[@utopian2222]

All you need to do is apply for an NIE number which is an equivalent national insurance identity number so you can purchase a house, apartment or car, better still just rent as I do (also and make sure you have medical cover which is cheap as) and you can move around and see and experience the beautiful Espana' and its history..

[@gonzalopenagil4454]

I think the only "exception" is Madrid, where the inheritance and property taxes are paid almost fully (99%) by the regional government or the Canary Islands, that have a different tax system than in mainland Spain. Nonetheless, there are more tax friendly countries in Europe

[@AlexpxThreeTen]

Great analysis. I prefer Portugal to Spain also but the bureaucracy is so much slower in reality than on paper.

[@alexnezhynsky9707]

Come live in Spain, except the s is silent

[@mb8kr]

Its pain

[@Account-gb4hl]

ahahaha

[@snterp]

Because all the gold goes to the Spanish government.

[@tafareactions2823]

If you come to Spain to speculate buying properties to get huge profits today, you are wrong, we already have many empty houses belonging to the vulture funds and banks while there are people who cannot afford a decent home. That is precisely what the government wants to tackle, whoever buys properties with this intention will be expensive in taxes or in the worst case, the house will be occupied by Squatters and it will cost you four years dealing with the courts to evict them.

[@jirehla-ab1671]

Is it prtially true that spain is a socialist country?

[@1greenMitsi]

My parents are spanish and even though I have held two spanish passports and lived in spain in my teens, they are dragging their feet on my passport renewal. My application has been rejected and waiting 6 months for a reply as to why my renewal is not happening

[@celdur4635]

Some countries have special deals with Spain, for example some countries in South America only take 2 years to gain Spanish citizenship.

[@bennyhanna6]

All former spanish colonies including the Phillippines need 2 years of legal residence to be eligible to apply. How long it takes to be approved is another matter......

[@Account-gb4hl]

@@bennyhanna6 I thought there was a special law that came recently in which you could accelerate the citizenship process if it took more than a year been reviewed

[@davidgimenoarrietagimenoar7510]

No freedom here!!! I'm Spanish

[@johnnyfootball7658]

Why Spain has a wealth tax is beyond me. I think that they could attract many more wealthly people who would stay and invest if they got rid of this.

[@nenu]

It goes by region Someone with €10.7million wealth will pay €184k/year wealth tax in Catalonia and 0 (zero) in Madrid

[@johnnyfootball7658]

@@nenu Thanks, does Madrid have a wealth tax at all?

[@nenu]

@@johnnyfootball7658 the taxes on Wealth and Inheritance are regulated nationally. The regional autonomies have the authority to set the %. Since Madrid region does not have the capacity to eliminate the tax, what they've done is set a 0% charge, which effectively means that you don't pay anything. The president of Madrid region has just said that she will introduce a regulation to secure that any changes on taxes that are regionally administered will require the approval of the regional parlament, to avoid any temptation of a national government to mess around.

[@johnnyfootball7658]

@@nenu Thanks, great information, I'll change my plans to buy in or around Madrid!!!

[@nenu]

@@johnnyfootball7658 the driver for wealth tax is not where you own the property but where you have your fiscal residency located. If 99% of your wealth is in Catalonia but you manage to set your tax residency in Madrid, you will pay 0% Wealth Tax I would suggest consulting a tax expert on this topic, thus you can enjoy the benefit of mediterranean wheather combined with the tax benefits of Madrid

[@alfonso87ful]

I have been living in Spain for 30 years. I got residency in the carribean and will leave in the next 3 or 4 years. Spanish taxes are crazy and leftist just keep raising taxes.. Debt is crazy and will never get paid off..

[@eugene8524]

How about Occupas??

[@ShabasRS]

Please help me understand. Let's say I have 1 million euros in savings and planning to move to Spain with a non-lucrative visa. I buy a property worth 150 thousand, then stay over 183 days. I don't have any income from Spain or anywhere else (basically living through the savings). How much would I need to pay on taxes each year?

[@microfarming8583]

Depends on how much you earn

[@wuhan2232]

In your case, 0 income tax. When you sell your property, you have to pay tax on capital gain

[@dlukton]

As long as you avoid the wealth tax, it could make sense for you to live there.

[@ShabasRS]

Thank you all for your input. Cheers gentlemen!

[@nenu]

@@dlukton wealth tax that you can avoid by choosing regions like Madrid where there is 0 tax on wealth

[@denniszenanywhere]

What do you think of the latest digital nomad visa of Spain?

[@igorbahillodiaz]

I'm Spanish and PLEASE don't buy property in Spain, here the occupation of secondary properties is legal.

[@wuhan2232]

You may lost your property if it's occupied by others for more than 48 hours

[@abdullahhakan1]

Cheapest cities of Spain to purchase apartments are Murcia, Cartagena, Huelva, Vigo, Santender, A Coruna, Sevilla, Malaga Airport environs. Spain is the biggest producer of orange, mandarin in it's fields among European countries. Architecture has the utmost importance for all buildings in Spain.

[@snterp]

So we should go there because they have oranges?

[@ivanoov3285]

how much euro minimum property price to get resident visa in spain ???

[@jillybe1873]

OK the oranges are good. They sell them throughout Europe, so.....

[@adblackwood8452]

Can you do a video about Portugal's D7 (Passive Income Visa)?

[@oToureiro]

Hi Andrew. I found that you possibly contradicted yourself at 4:26 and 4:56 in this video. You mention in the first that Portugal requires residency to get citizenship but then in the latter you mention that Portugal is better than Spain. Did you make a mistake in the first instance?

[@jjvr66]

What about Madrid - they have no wealth tax.

[@adamsterling7941]

Great video, thanks a lot for the info

[@nomadcapitalist]

Glad it was helpful!

[@mkuc6951]

Interesting comment thread thanks for everyone's input. Pros: Weather, Culture, Healthcare Cons: Crabs in a bucket business culture, taxes, 'occupas', bureaucracy, woke bs More cons for settling. Gonna go check out for having a look and a short live.

[@romeoinferno]

Hi Andrew. Love your content. Would you please do an analysis on the new Digital Nomad /entrepreneur visa that will be coming out in January?

[@tman5634]

Isn't the rules that you must purchase a property of €500k euros within 90days of your application for the gold visa? So having owned a property for many years doesn't allow you to apply?

[@UK-Property-Tax-Accountants]

I just sent in my application on this very subject of Spain. Oh dear I don't like that I have read about Inheritance Tax especially

[@latestnews9764]

I want to do my undergraduate in Spain is it a good option?

[@markmyjak7739]

My wife and watch a Netflix movie called Nowhere. The beginning was terrorfying. The back story is this. Spain became a totalitarian state. Spain was unble to support all their citizens because they had limited resources. So, to fix it, the government killed off the elderly. Then, they went after the women and childen to kill. The movie about a pregnant woman trying to survive on a container that fell off a container ship. Watch the movie. It's terrorfying on what governments will go too to control the people.

[@LordKaiser003]

Spaniards that have wealth moved to Andorra and they been ok over there, for now.

[@liamdorvilier]

I read in an article that now Spain requires only a trip to Spain every 3 months, so you don't need to be a tax resident there So, natives of Spain former colonies will only need to travel 8 times during 2 years to obtain Spanish citizenship 2 questions Is that verified? Haiti was the first Spanish colony, but I don't see it into lists that golden visa boutique-websites publish, what's the matter?

[@evazquez2188]

Not quite. For natives of former Spain territories, the requirement is 2 years of continuous legal residency in Spain immediately before the application. By continuous it means that you cannot be out of Spain more than 3 months in a year, or 6 months in that 2-year period. Not so easy as you portray it. If you are not citizen of any of these countries, the residence required time is 10 years.

[@liamdorvilier]

@@evazquez2188 What about Haiti?

[@evazquez2188]

@@liamdorvilier Haití is not included. Only citizens if countries of Iberian American Origin (Spanish and Portuguese speaking countries in the American continent) +Portugal+ Andorra + Philippines + Equatorial Ginea (in Africa) + Jewish of Sefardíc ascent have a shortened period of time for citizenship.

[@liamdorvilier]

@@evazquez2188 Thank you

[@P0rtugueseRedM00n]

Because they going back to other times.. restrictives times

[@georgensal]

I always thought that one moved to a country because one liked the country and its lifestyle, but hey, I might be wrong and Latvia, Spain, Greece or Malta are just the same...I heard Nigeria is very cheap and one can fly to Europe in less time than from USA....I don't know about taxes there though, or health care...

[@BlockTechGold]

Andrew, what would the perfect visa program be, if you had a country and could design your own?

[@festusbojangles7027]

unlimited time visa free entry for anybody.

[@estebanmunoz7486]

Andrew, you should investigate about the "okupa" phenomenon in Spain, mainly in Barcelona... it will shock you...

[@liv-oi6vg]

from spain's perspective it seems sensible to have a not so competitive golden visa program - it filters out people who don't have a reason to choose spain in particular, and they're big enough that the economic benefits aren't a humongous factor for them

[@santacruzdz]

But Spain is beautiful and safe

[@nenu]

On the number of years required for spanish citizenship, it really depends where you are from. Countries from former spanish countries (Latam, Equatorial Guinea) is only 2 years, not 10. Also, wealth and inheritance tax depends on which region you are located. Madrid and other regions have sunsidized those taxes by 99% (regional authorities don't have the ability to eliminate them, so they reduced them to almost zero%) Also, again Madrid region has eliminated all local taxes, the top braket of Income Tax in Madrid is 5 points lower than Catalonia (the highest) and you have the right to apply the most advantage policty from any spanish region if Madrid is already not the best

[@davelawson2564]

so what are the wealth, inheritance tax now ? And Income tax ? 5 points lower than what ? Its meaningless to tax in such vague terms

[@nenu]

@@davelawson2564 i speficically mentioned "income tax in Madrid is 5 points lower than in Catalonia" and that Madrid has virtually no wealth or inheritance tax to make a clear point on how it differs from region to region A 40-year old single man who makes €1m/year will pay 42.35% in Madrid vs 46.26% in Catalonia A person who has a total wealth of €10.7million will pay, annually, 184k€ wealth tax in Catalonia and 0(zero) in Madrid If your parents die and you receive inheritance worth €10million you will pay 3.4m€ inheritance tax in Catalonia, vs only 41k€ in Madrid I compared Madrid vs Catalonia being Madrid the most pro-low taxes region and Catalonia the most extreme on high taxes. All other regions fall somewhere in the middle.

[@davelawson2564]

@@nenu IT is still too high. Thanks for clarification. 👌

[@nenu]

@@davelawson2564 Wealth tax in Madrid is Zero, it can't get any lower than this. I do agree income tax is too high... not in comparison to other european countries, but high at a world level. My answer was mostly to: - point out that Spain works as a confederal state and what is true for one region is not necesarily true for another (eg NO wealth Tax in some regions) - point out that Latinoamericans need only 2 years for citizenship, not 10. There is not a One Country Fits All. Spain is a really good investment option for Latinoamericans looking for a way to protect their assets from the Obrador, Chavez.... as one can clearly see by the large community of upper middle class and wealthy venezuelans living in Madrid

[@jai53b]

Got to include the Philippines as a former colony. Only takes 2 years for Filipino citizens.

[@internetapocalypse4885]

Spain- Pros: Lifestyle, culture, relatively cheap, 'live and let live' attitude. Cons: Taxes, bureaucracy (Urrggg), unprofessional attitude within business.

[@abdullahhakan1]

Spain is best of the best place among Schengen countries. Meals are just for upper scale budget possesors, you can fill your stomach just like at Aspava Restaurant in Ankara , you must pay at least 150 euros per customer with some side dishes, unlimited tea consumption , salads, french fries, dessert for free at those similar restaurants in Spain. Public bus entrance, subway metro entrance is 2.20 euros per se, while in Istanbul it is only 5.50 tl. All products at supermarkets of Spain are 3 to 5 times more expensive than Istanbul supermarkets prices for same goods. Spain has the most preserved historical buildings, castles at hand in most of it's cities, towns. 5 star hotel price per night with breakfast is 250 euros per night while in Istanbul you can stay at Presidential Suite, 2 plus 1 bedroom 150 square meters room on the Bosphorus Straits with breakfast and dinner free of charge. Pavements of Spanish cities are magnificent as low as possible , at 50 cm at most. Spain is extremely clean and neat. New buildings of Spain has golf courses, swimming pools, autoparks on their front porches.

[@Account-gb4hl]

I can't tell if you're shitting on Spain or not

[@marrlena947]

If you're an EU citizen and not wealthy then Spain is a good place to live. Low property tax for a modest home, great weather, lots of variety in climate, low cost of insurance and low cost of living overall. I will never seek Spanish citizenship. Don't need to. My fixed cost of living is ONE TENTH of that in the USA. My social security is not taxed, it's too low but plenty to live on here. I've rented out property in Spain and it's been a good income. I still do and if you're careful about choosing tenants you don't get an 'occupas' problem which is real in Spain and France too. I don't want to live in Portugal due to the blustery wet winter weather and high cost of property compared to Spain.

[@leandroflaherty]

Ya but Spain has an aging population crisis and all those cushie social programs are questionably solvent.. it may be a temporary high in the quality of life there

[@Account-gb4hl]

@Personal123 It doesn't matter if her grandfather was a spaniard or not, as long as she is cuban she can apply for citizenship in just 2 years of legal residence. It's an special deal given to ex-colonies of Spain. Leaving that aside, I think you should consider other options.

[@freespiritkaro3414]

Is the winter less wet / better in all of Spain then, or only certain areas ?

[@marrlena947]

@@freespiritkaro3414 the north of Spain can get wet and cold.

[@apegrasshoplizard]

I currently live in Malaga. Have been in Spain well over 20 years. Will be moving to Albania to open a small business in 2022.

[@b2tfuture696]

What Biz would be positive in Albania, pls?

[@apegrasshoplizard]

@@b2tfuture696 Hi Martin. I spent the last 7 or so years thinking about where to go and what to do. After much investigation I decided Albania is the best option for me personally. I won't say just now what my business consists of, only that money is not my primary motivation.

[@b2tfuture696]

@@apegrasshoplizard Thank U 4 yr reply. Do U know any immigration lawyer there to have a legal consulation to apply for the residebce permit or Biz Permit visa?

[@oierurresti4596]

Im from Spain and its one of the best countries, yes, but the problem is that people have "anti" market values, thats why Spanish youtubers go to Andorra la Vella

[@snterp]

How is it one of the best countries?

[@internetapocalypse4885]

@@snterp Spain is one of the best countries to live if you love a relaxed (or crazy) lifestyle, food is good, weather is great, relatively cheap compared to the rest of the EU, UK, US and Australia. The leftie government and the things Andrew talks about in this video are the negatives.

[@Lord_Saruman]

@@sheiladikshit5110 the radical left politics are dystopian honey, wake up!

[@mynamename5172]

Don't get mugged in Barcelona! Oh, wait, sorry, you will so just be ready and enjoy that charming part of the local culture!

[@dlukton]

OK then; you twisted my arm.

[@joaocavalcanti9396]

Spain is for sure an adding risk for fiscal or strategic point of view, but for those from Latim America and inside the iberoamerican treatment it's for sure an easier choice, considering if you don't have the resources but the time to invest. It's just 2 years for Applying for citizenship and after 1 year you could pay to accelerate the process, in my case after the "acceleration process" called as "recurso contencioso" I received the answer in less than a month.

[@joaocavalcanti9396]

@Personal123 it's complicated to say, the minimum... What I've seen regarding an adult to guarantee the income of 2K€ per month as requirement. Regarding the family relation through the grandfather I'm not sure if its ok, but I also heard in the last year that they would update this laws.... It worth to check if there is any new requirement. But looking for the income source, it seems too much in Spain, Portugal is much cheaper.

[@Account-gb4hl]

Oh hey, I'm considering doing that 'recurso contencioso' when i go to Spain. How much do you pay?

[@jillybe1873]

I had a go living on Spain but it seems to be a disorganised 3rd world place with suffering and not so educated citizens. I didn't feel reassured there and have little confidence in its future. It's spent EU money on weird unnecessary roads everywhere and good fibre optic Internet, though the houses are freezing. If you want a Med holiday, cross to Morocco .

[@lindabiegenwald5924]

I am no where near your wealth but living in Spain would be a no for me, the bar life style where you see Young children falling asleep on benches and chairs while there parents party the night away is off putting to me.

[@mb8kr]

🤣🤣🤣👍👍that's sooo true!

[@azazelhaque8873]

dooo turkey videos plzzzzzzzz

[@nomadcapitalist]

Hello, please check these videos: kzbin.info/www/bejne/opS2oXmAYsl5aM0 kzbin.info/www/bejne/e4Oynqmcp92apJI kzbin.info/www/bejne/jaSYl6ePeZypnJo kzbin.info/www/bejne/aXPJY2akbsmFsJo If it's not what you're searching for, please let us know your suggestions, and maybe we make a video.

[@patsmith7320]

A total dump hole for country. Lived there for a year....have no clue why so many like the place....never again.

[@AndreaMarGon]

"Let's tax wealth, let's make people's lives difficult" 😅 never saw a foreigner summarize our Government policies that well.

[@georgensal]

I guess it's a lot better to tax the poor??? taxes are necessary to have good infrastructure, and like in Spain, good FREE health care, something this guy didn't bother to mention...

[@UrquidezFamily]

So you're saying Spain makes it hard for more people to come in.....Nice....:)

[@espartaco2028]

My husband is Irish and we got his American citizenship last year. I know retiring in the US is insane and, I'm in love with Spain and Spanish. I actually hate Ireland because the weather is the worst on earth and the food totally sucks! All they eat is potato and fried fish. It wasn't hard figuring out how to starve them. They have rabbit, quail, blackberries and the same ocean of food Spain has and yet, you take their &$*#! potatoes away and, they starve. The food is unfit for consumption, period! However, I'm confused about how Marriage affects the metric IF I wish to do 6 months in Ireland and 6 months in Spain for retirement.

[@derkhawkins2575]

It is Spain. We understand.

[@nenu]

Typical stupid stereotypical comment

[@genzod7940]

I agree with you, Spain is not a good choice, there are many places way better than Spain. Services in general and customer services are very low quality for what you pay, taxes are high and the Spanish IRS is a totalitarian agressive agency, one of the highest electrical bills in the EU, limited freedom of speech, crime, drugs, jobs, salaries, corruption, mafias and gangs from all over Europe and SA call Spain home, squatters have more rights than home owners, in general food is not what it used to be (Spain was the first EU country to integrate GMOs in the early 80´s), grocery products are poor quality, can´t drink tap water, very few good and reliable professionals in any matter you may need, administrative procedures are equal to Banana Republic levels, it is also a country that still make animal sacrifices and torture for cultural reasons and enjoyment, fascism is still present and strong in many levels, and the country has a huge debt = lower quality of life while paying more for everything. Spaniards that can afford it are leaving Spain and Spaniards historically have been leaving Spain since....ever. The future of Spain is not looking good.

[@ApolloLeRoux]

Portugal +1 Spain -1

[@richardwilson57]

NB. It’s impossible (or at least practically impossible) to take away someone’s BTC keys………

[@hoppeanofasgard1365]

Not to mention Spain has some pretty strict covid restrictions. Mexico is a better bet.

[@ashantirobinson242]

How strict can you expound on that a bit?

[@lerryperry]

I do not trust Spain. But on a lighter note Andrew, I guess they don't like you very much in $pain or Australia.😂😂😂😂

[@mb8kr]

🤣🤣🤣 they like only his dollars, they tear him right and left.

[@tinglestingles]

Portugal is far more pragmatic.

[@saifalarabi4491]

There's actually an option where you can get the Spanish citizenship after one year, which is by marriage, but they will require you to renounce all your other citizenships if you are not a Spaniard or if you don't lie to them. These countries that put you under this kind of pressure are dangerous. But spain still more beautiful than greece or Ireland. It has a magnificent climate and beautiful nature.

[@andrewharrison3888]

Greek water-sea, beaches and coastlines are much more superior to Spain. Greek food is better, culture, life much simpler and much easier to earn a quid. I’d choose Greece in a heartbeat. Spain arguably better to be in the winter, or live all year round, but overall feel good factor Greece wins hands down for me. Pick one of the islands, southern ones especially are paradise.

[@bennyhanna6]

But then you have to be married to a Spaniard. If thats a woman, good luck!

[@dantelossantos7562]

Do not come to spain to do business! Plis dont do it!

[@cryptoronindude]

Don't buy property, buy Bitcoin.

[@user-cl7rv5cw8g]

In crypto and stocks, etc. , Its a lot harder to get the amount of leverage that the average earner can get with real estate. I havent seen any crypto exchange that only wants 3% down for 97% leverage

[@martg0]

first!

[@alberto2120]

second

[@nikosniko7092]

3031st!

[@agoogleuser6937]

BarCeloNa is not sPain

[@PedroSanchez-zv1lr]

BarCeloNa is worse than Spain with Okupas stealing your home.

[@tiptonames]

Look at your comment Then look at your DNI Then look at your comment again

[@agoogleuser6937]

@@tiptonamesRead my comment, read your “comment”, look at the Passport of your Mother, then read my comment again. If you find a relationship, ask your psychiatrist.