Recently, the Spanish Government created the Act of Entrepreneurship and Internationalization which states that any person who has the means to buy a 500,000 € property in Spain will be granted a residence visa. Because of this, the government is giving more visas to investors so more people can buy real estate in Estepona and all of Spain with the objective of helping a market that plummeted some years ago.
Going through the process
Although this is a golden opportunity for investors due to the low prices of real estate, the process of buying and selling properties can be quite difficult to a foreigner, so it is advised to seek the guidance of a trusted realty in Marbella who has a great knowledge of Spanish real state laws, and will be able to help you fulfill a correct application. They can also guide you with other processes, like getting your NIE number or help you with tax forms. It’s important for you to know that this visa is valid for one or two years (the length of the visa is based on each application) and once that time is up, it is necessary to renew it. After five years of continuous residence, you’ll be able to get a citizenship. Having the means to buy a 500,000 € property is not the only way to opt for a residence visa in Spain, fulfilling any of the following options will make you eligible for a visa:
- Purchase at least 2,000,000 € in Spanish government bonds or Spanish public debt.
- Invest a minimum of 1,000,000€ in Spanish companies.
If you’re able to create a valid business plan which creates job opportunities in Spain, have a positive impact in the country or makes an important contribution to a specific sector; you may also apply for an investor’s visa. As you can see, there’s a lot of things to think about when moving to Spain, so it’s better for you to seek the advice of experts in this matter so everything goes smoothly and without problems.