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5 Things about Residence by Investment in Spain You Should Know – CEOWORLD magazine

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One of the most popular nations in Europe is Spain. In terms of history, culture, lifestyle, modernity, and everything else that makes a country wholesome, Spain is quite among the frontrunners. It is one of the highly developed countries in the country, among the top 15 economies in terms of GDP, and is part of many notable international organizations. As a result of all of these, Spain remains a highlight in the continent and beyond. If anything happens in Spain, the rippling effect is generally felt by the world. So, understandably, investors are drawn towards it.

As the title of the article suggests, my focus will be to offer a basic guide about the method by which investors can invest and engage in a well-rounded living experience. A quick, reliable, and beneficial method to achieve it is through the country’s Residence by Investment scheme. In this article, you will know 5 things about the scheme so that a reasonable decision could be made for the same.

  1. A basic introduction
    Let me start with a basic introduction to what exactly Spain’s residence by Investment Scheme is. In the simplest terms, the scheme allows the issuance of a residence permit to any person who is not a member of the European Union (EU) and who aims to invest in the country’s economy. Once the requisite eligibility criteria are met, the successful applicant is offered a residence permit that is indefinitely renewable and could be a step towards acquiring citizenship. The scheme is intended to attract investors by offering them benefits that residents ordinarily enjoy within the country.

  2. What is the eligibility conditions
    If you have read anything about these schemes, you will notice that the general eligibility conditions are anyway mostly similar. Under the Spanish Golden Visa scheme, the applicant must be at least 18 years old, possess no criminal antecedents, and have health insurance in Spain. When it comes to investment, the applicant is usually required to make investments in real estate in Spain; the minimum amount being €500,000. However, there are other alternative routes recognized under the scheme. For example, the applicant can invest €2,000,000 in Spanish public debt or buy shares in a Spanish company. There are many sub-conditions to these conditions which need to be looked into as well.

  3. What about your dependents
    Now one of the biggest concerns of investors is that there are schemes that do not extend benefits to their dependents. However, such is not the case in Spain. The Spanish Golden Visa scheme includes family members. Once you make a successful application, the scheme will cover your spouse, children below the age of 18 or dependent children above the age of 18, and dependent parents. Your dependents will be extended residence permits and allowed to enjoy the underlying benefits of the scheme.

  4. What benefits you get
    Of course, this is the most fundamental point. Why would you invest such a large sum when there is nothing to gain back? The benefits are plenty but I will enumerate them broadly: there is no stay requirement so you need not stay here to have your permit renewed unless you want to acquire citizenship in the future; you can legally work in the country; your dependents can come along with you and enjoy similar benefits; you and your dependents will be extended access to public services such as education and healthcare. One of the most attractive aspects of this scheme is that it offers mobility across the EU and the Schengen Area.

    European Union flag EU flag

    European Union flag EU flag

  5. What documents you need to submit
    Of course, there is a string of documents you will have to submit as part of the process. You start with the Visa application form. You must submit a copy of a valid passport, proof of health insurance in Spain, proof of the payment of visa fee, proofs that indicate your financial health and ability to invest the requisite amount under the scheme, and police records stating no criminal antecedents. There may be other documents that you can be asked to furnish depending on the case at hand. Also, note that all your documents must be translated into Spanish.

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Pandemic darlings face the boot as investors eye return to normal life

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Stay-at-home market darling Netflix slumped on Friday, joining a broad decline in shares of other pandemic favourites this week as investors priced in expectations for a return to normal life with more countries gradually relaxing COVID restrictions.

The selloff, which began after Netflix and Peloton posted disappointing quarterly earnings, spread to the wider stay-at-home sector as analysts judged the new Omicron coronavirus variant will not deliver the same economic headwinds seen in the first phase of the pandemic in 2020.

“This a confirmation that the economy is gradually moving towards some sort of normalisation,” said Andrea Cicione, head of strategy at TS Lombard.

France will ease work-from-home rules from early February and allow nightclubs to reopen two weeks later, while Britain’s business minister said people should get back to the office to benefit from in-person collaboration.

“With a return to the office and travel lanes opening, darlings of the WFH (work from home) thematic are reflecting the growing reality that the world is moving slowly but with certainty towards a new normalcy,” said Justin Tang, head of Asian research at United First Partners in Singapore.

Netflix tumbled nearly 25% after it forecast new subscriber growth in the first quarter would be less than half of analysts’ predictions.

The stock, a component of the elite FAANG group, was on track for its worst day in nearly nine-and-a-half years following rare rating downgrades from Wall Street analysts.

“It is hard to have confidence that Netflix will return to the historical +26.5 million net subscriber add run rate post the 2022 slowdown,” MoffettNathanson analyst Michael Nathanson said.

“The decay rate on streaming content is incredibly rapid. ‘Squid Game?’ That’s so last quarter. ‘The Witcher?’ Done on New Year’s Eve!”

Exercise bike maker Peloton lost nearly a quarter of its value on Thursday, leading at least nine brokerages to cut their price target on the stock.

The selloff erased nearly $2.5 billion from its market value after its CEO said the company was reviewing the size of its workforce and “resetting” production levels, though it denied the company was temporarily halting production.

Peloton’s shares were up nearly 5% on Friday morning, bouncing back somewhat from a 23.9% drop on Thursday, its biggest one-day percentage decline since Nov. 5.

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Both companies were part of a group, along with others such as Zoom and Docusign whose shares soared in 2020, and in some cases 2021 as well, as people around the world were forced to stay at home in the face of the coronavirus.

However, thanks to vaccine rollouts and the spread of the less severe Omicron strain of COVID-19, life is returning to normal in many countries, leaving companies like Netflix and Peloton struggling to sustain high sales figures.

According to data from S3 Partners, short-sellers doubled their profits by betting against Peloton in 2021, the third best returning U.S. short.

Direxion’s Work from Home ETF has fallen more than 9% in first three weeks of the year, compared to a 6% drop in the fall of the broader U.S. stock market. Blackrock‘s virtual work and life multisector ETF has weakened more than 8% this year.

In Europe, lockdown winners are also going through a rough patch as rising bond yields pressurise growth and tech stocks.

Online British supermarket group Ocado, Germany’s meal-kit delivery firm HelloFresh and food delivery company Delivery Hero which emerged as European stay-at-home champions in the early days of the pandemic have underperformed the pan-European STOXX 600 so far in 2022.

(Reporting by Alun John and Julien Ponthus; Additional reporting by Nivedita Balu, Anisha Sircar and Chuck Mikolajczak; Editing by Saikat Chatterjee, Alison Williams and Saumyadeb Chakrabarty)

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Bitcoin falls 9.3% to $36,955

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Bitcoin dropped 9.28% to $36,955.03 at 22:02 GMT on Friday, losing $3,781.02 from its previous close.

Bitcoin, the world’s biggest and best-known cryptocurrency, is up 2.4% from the year’s low of $36,146.42.

Ether, the coin linked to the ethereum blockchain network, dropped 12.27% to $2,631.35 on Friday, losing $368.18 from its previous close.

 

(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Sriraj Kalluvila)

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Oil, gas investment forecast to rise 22% in Canada – Investment Executive

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It’s positive news for an industry that has now essentially recovered to its pre-pandemic levels, after a disastrous 2020 that saw oil prices collapse due to the impact of Covid-19 on global demand.

But CAPP president Tim McMillan pointed out that in spite of the fact that oil prices are at seven-year highs and companies are recording record cash flows, capital investment remains well below what it was during the industry’s boom years. In 2014, for example, capital investment in the Canadian oilpatch hit an all-time record high of $81 billion, capturing 10% per cent of total global upstream natural gas and oil investment.

“Today we’re at $32 billion, and we’re only capturing about six% of global investment,” McMillan said. “We’ve lost ground to other oil and gas producers, which I think is problematic for a lot of reasons . . . and it leaves billions of dollars of investment that is going somewhere else, and not to Canada.”

Investment in conventional oil and natural gas is forecast at $21.2 billion in 2022, according to CAPP, while growth in oilsands investment is expected to increase 33% to $11.6 billion this year.

Alberta is expected to lead all provinces in overall oil and gas capital spending, with upstream investment expected to increase 24% to $24.5 billion in 2022. Over 80% of the industry’s new capital spending this year will be focused in Alberta, representing an additional $4.8 billion of investment into the province compared with 2021, according to CAPP.

While the 2022 forecast numbers are good news for the Canadian economy, McMillan said, it’s a problem that companies aren’t willing to invest in this country’s industry at the level they once did.

He said investors have been put off by Canada’s record of cancelled pipeline projects, regulatory hurdles and negative government policy signals, and many now see Canada as a “difficult place to invest.”

However, Rory Johnston, managing director and market economist at Toronto-based Price Street Inc., said laying the decline in the industry’s capital spending at the feet of the federal government is overly simplistic.

He added while current “rip-roaring, amazing” cash flows and a period of sustained high oil prices will certainly give some producers the appetite to invest this year, Johnston said, it will likely be on a project-by-project basis and certainly on a smaller scale than the major oilsands expansions of a decade ago.

“You have global macro trends across the entire industry that have begun to favour smaller, fast-cycle investment projects – and most oilsands projects are literally the polar opposite of that,” he said.

One reason capital spending isn’t likely to return to boom time levels is because companies have become much more cost-efficient after surviving a string of lean years. And that’s not a bad thing, Johnston said.

“The decade of capex boom out west was tremendously beneficial for Canada and Albertans, but it also caused tremendous cost inflation,” he said.

“While what we’re seeing right now is not as construction-heavy and not as employment-heavy – and those are two very, very large downsides – the upside is that you’re much more competitive in a much more competitive oil market,” Johnston said.

In a report released this week, the International Energy Agency (IEA) hiked its oil demand growth forecast for the coming year by 200,000 barrels a day, to 3.3 million barrels a day.

According to the IEA, global oil demand will exceed pre-pandemic levels this year due to growing Covid-19 immunization rates and the fact that the new Omicron variant hasn’t proved severe enough to force a return to strict lockdown measures.

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