Spain Residency Law – Approved 0
Posted on 3, June 2013
in Category Uncategorized
Spain Residency Law – Giving non-EU Investors Residency
After months of speculation, the new residency law in Spain, giving investors residency when purchasing a property, has been approved. Residency permits will now be offered to non-EU investors when they purchase a property over €500,000 (£425,000). It is expected that this new law will attract a wave of real estate investors from Russia, China, India and Asia seeking residency in Spain.
This law, which will be enacted over the next few months, was originally expected to offer residency when purchasing a property over the value of €160,000, but this has now been increased to €500,000. It is still unclear whether investors will have freedom to move easily through the Schengen area of the 26 European states, but we will keep you posted on this.
Spain Residency Property will be offering a unique service, combining the property search, and the legal advice for both the property purchase, and the residency application, all with one fee.