Spain Approves Immigration Residency Visa for 500,000 Euro Property Investment
The new law granting a residency visa to investors spending 500,000 Euros on real estate in Spain has now come into effect.
MURCIA, Spain, Sept. 30, 2013 /PRNewswire-iReach/ -- The long awaited law granting a residency visa for international investors buying property in Spain has finally been passed.
Investors spending a minimum 500,000 Euros on residential real estate or a portfolio of properties making up this limit will gain a residence visa often referred to as the "Spanish Golden Visa" or "Spanish Entrepreneur Visa".
The visa is one of the most affordable and flexible in Europe. There is no minimum stay requirement in Spain and the visa can be renewed up to five years. Holders of the Spanish golden visa are free to travel throughout the Schengen visa countries in Europe.
After five years those who have invested in Spanish property (and immediate family members) may apply for permanent residency although that will require a minimum residence period of 183 days. Citizenship and a Spanish passport can be applied for after a period of permanent residence in Spain. This then grants the right to live and work anywhere in Europe as a European citizen.
The key points of the Spanish residency visa are:
- Minimum investment of 500,000 Euros
- Investment cannot be mortgage funded
- Spouse and dependent children included in the visa
- No minimum stay period
- Renewable up to five years
- Travel throughout the EU Schengen visa zone
Applicants must be able to prove source of funds, have no criminal record and must never have been refused entry previously to a European country. They will also need to demonstrate private medical insurance and sufficient funds to support living in Spain. However as there is no minimum stay requirement, actual residence is not necessary.
Property investors will be able to own and run a business in Spain but are not free to work until permanent residency is granted.
La Vida Spain ("the life" Spain) specialises in Spanish property for international investors with offices in Spain and the UK. Since the proposed legislation was first announced back in November 2012 La Vida Spain has received over one thousand enquiries from potential real estate investors. The main interest has come from China, Russia, India and from many countries throughout the Middle East.
Visit our website offering a full portfolio of Spanish property at www.propertyvisaspain.com Investors can also find out more details and discuss the visa rules and legislation on our investor visa blog at www.spainvisas.com
There are many reasons for our clients to be seeking immigration and a residency visa in Europe. Personal circumstances mean most cases are different and require professional and legal advice for the best solution. La Vida Spain is offering a full visa application and property viewing service covering the key cities and regions throughout Spain that may be of interest to investors. With over eight years' experience selling Spanish property to international investors our staff can evaluate your circumstances and advise on the best option and location depending on your needs. Whether this be for family residence, investment, frequent travel, schooling and university, business set up and retirement.
We are also keen to hear from businesses and international visa consultancies keen to partner in this rapidly developing market.
If you would like to discuss investment in Spanish real estate please contact our office on +44 208 429 7115 for details on our investor visa service.
Media Contact: Paul Williams, La Vida Spain, +44 2084297115, email@example.com
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SOURCE La Vida Spain
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