26 May 2013 9:32 PM:
Hi everyone,
More good news.
Spanish property is set to become particularly attractive this summer, as a new law expected to come into force by July will allow non-EU residents to get Spanish residency automatically if they buy a property or invest in Spain and we have associated with a Spanish firm that has specialised in facilitating VISA's and resident permits for a number of years to non-EU citizens.
An influx of investors from Asia-Pacific, China, Russia and America is likely to boost the Spanish property market.
Foreign investment in the Spanish property market has increased by 17% in 2012, according to the latest figures from the Bank of Spain, taking it to a level not seen since 2004. The market has become increasingly attractive as a result of the significant falls seen in property prices since it was enveloped in the financial crisis.
The measure, one of several announced Friday by the Spanish Government to encourage entrepreneurship, facilitate delivery of investment and talent to Spain, will award residency cards / permits to foreigners who invest in real estate above 500,000 euros, public debt purchases by more than 2 million euros or impact investment in creating employment or scientific and technological input.
"We're doing what other countries are doing," Deputy Prime Minister Soraya Saenz de Santamaria said, adding that Chile, Ireland and others have similar immigration inducements. "It's a system that has become widespread as an appealing tool to attract investments."
The authorities are also studying the posibility of eliminating VISA's completely but to achieve such unanimous agreement of all countries of the Schengen zone, which share borders policy, will be a complicated task.
To get the full documentation when the bill has been passed and approved, feel free to contact us.
Forum thread:
Can someone confirm Automatic Residency with a 160k euros purchase?
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