The approval rates in Spain’s Residency Programme have reached record levels in the first half of 2019, reports the Ministry of Employment, Migration and Social Security.

Spain issued 848 more investment-based residence permits from January to June 2019 than in the preceding six months. Chinese and Russian investors led the field with 272 and 187 permits respectively. The number of investors from other countries doubled to reach 389.

These figures make Spain’s Residency by Investment programme the second most demanded in Europe in the first half of 2019, ceding ground only to Greece with 1,266 investors approved in this period.

All in all, Spain granted investment residence permits to almost 5,000 investors. Multiplied by the minimum of EUR 500,000, Spain managed to raise EUR 424M in H1 2019 and 2.5B since the programme’s launch.

That said, the Spanish programme participants tend to surpass the minimum investment. Also, not all of them prefer to invest in property, there is also an option of EUR 1M capital transfer. Given these facts, the actual cumulative number may be close to EUR 3B.

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