Spain is internally reputed for many things including its well-established political stability, excellent cuisine, amazing landscape, and incomparable culture. The nation situated on the Iberian Peninsula is the new home to around 6 million emigrants. Recently, 39812 citizens of the United States are living in Spain because of its more affordable cost of living, easy access to other countries, and beautiful cities to walk through.
After the pandemic, many Americans have taken a shift from their native place to Spain because of its practicalities in the offering.
Spain’s Golden Visa
The availability of Spain’s Golden Visa has played a vital role in this shift. People from the US have started utilizing the credentials and benefits of the program and have bought property on Spain’s soil. The Golden Visa agenda was launched in 2013 in order to make Spain’s economy more competitive, enhance foreign trade, promote foreign direct investment, and improve job creation.
The amendments that were made in the program in the year 2015 introduced additional incentives to make it easier to secure Spain’s visa.
The expats need to follow several requirements for Golden Visa Spain in 2022. The various ways to acquire a visa are also significant to be noted. The least expensive route to qualify for acquiring a Golden Visa is by investing a minimum of €5,00,000 in real estate. Or, one can invest at least €1,00,000 in any Spanish company. Another way is investing in Spanish government bonds.
You have many additional benefits with the Golden Visa. The visa ensures high mobility and sets your path right for Spanish citizenship. Your stay for 10 years in Spain makes you eligible for citizenship. You can also bring along your dependent children and your spouse with this visa.
Types of Visas for Americans
Although the Golden Visa is the best opportunity for any American to move to Spain and settle, there are some different visas available overall for citizens. ETIAS, a visa waiver has to be applied by a US citizen for entering the boundaries of Spain. A lot of Americans have reported MySpainVisa helping them with their initial settling phase and even in the future.
Visas need to be applied depending on the purpose of your stay in Spain. The most acclaimed types of visas for US citizens going to Spain are student visas, work visas, job-search visas, investor visas, non-lucrative visas, and many more.
Conclusion: Living in Spain
There are various costs to be incurred while living in Spain as an American. Spain is one of the most affordable countries in Europe. The American citizens have reported that their living expenses in Spain are reduced by 30 percent from what they incurred in the USA.
For instance, rent in Spain is about 40 percent less when compared to renting in the US. A single bedroom in Madrid would cost around €850 but would cost about €1450 in the US.
The costs vary to a huge extent. When it is a fancy dinner outing or shopping for groceries in Spain, the cost of food is way cheaper than in the US. You can find delicious meals at an affordable price in Spain. The main reason why Americans are shifting their homes is to live economically and Spain is the best place for the same.