Spain has had a long history, initially inhabited by the Iberians and later inhabited, with varying degrees of control, by Phoenicians, Celts, Greeks, Carthaginians, Romans, Visigoths and Moors. Spain is now a major world economy, and the fifth-largest in the European Union. It is classified as a high-income country with a high standard of living. Major sectors of the economy include the automotive industry and tourism, which employs 2 million people and contributes around 11% to Spain’s GDP. Recently, fertilizer and chemical production, and biotechnology have emerged as important industries. Its main trading partners are Portugal, France, the UK, Germany and Italy. Spain exports a variety of goods including machinery, motor vehicles, chemicals, foodstuffs, electronics, pharmaceuticals and medicines. Since 2013, the economy has been growing at a rate far exceeding the EU average. Spain is a member of the EU, as well as the Eurozone, the OECD, the WTO and the Schengen area.
Spain is known for its beaches and sunshine, flamenco dancing, bullfights and tapas, but there is much more to Spain. Its long history is evidenced by various buildings including Roman ruins, Gothic cathedrals, castles, modernist monuments and Gaudi’s striking structures. Some of the most famous artists of all time were Spanish, including Picasso and Dali. Spain’s vibrant nightlife is famous and is another draw for the millions of tourists who flock to Spain every year.
The Spanish government allows high-net-worth investors to apply for residency, in Spain, provided they make one of a number of prescribed investments. Spain’s geographic location, excellent weather and membership of the Schengen area are just some of the reasons why this is such an attractive program for international investors.