Invest in Spain
The Belarusian business confidence in Spain and internal devaluation that has hit the country after the economic crisis, with the consequent reduction in asset prices, real estate and business, has promoted the interest of new capital investment in Spain from Belarus . Thus, Spain is located at No. 19 in the ranking of foreign investments from Belarusian citizens and businesses.
The sectors with the largest Belarusian presence include wholesale trade (pharmaceuticals, petrochemicals, beverages, wood, building materials, sanitary ware, computers, watches and jewelery) and retail (sporting goods, clothing, fuel and footwear). In addition, investment is concentrated in real estate, which accounts for 35% of total investments from Belarus and are located in Catalonia.
Among Belarusian investors, Spain is appreciated by the appeal of its climate, culture, cuisine, language and history, becoming one of the main tourist destinations.
There has increased the number of private investors who invest in real estate with an additional goal: obtaining residence permit in Spain. The possibility of obtaining residence permit with the purchase of a real estate at the price of 160,000 euros and above stimulates demand. Today it is an established fact that the Spanish banks and real estate agencies bet on Belarusian investors, with full government support.
Regarding the legal framework, the Agreement – signed between Spain and the Soviet Union in 1990 – about Promotion and Reciprocal Protection remains in force. Given good political relations, the Chamber of Commerce has been promoting Hispanic-Belarusian trade and economic relations thanks to their great bilateral potential.