Now finally comes into force the new Law for Entrepreneurship, and thus the possibility of obtaining VISA residency for those foreign investors who make a significant capital investment in Spain .
What is considered a significant investment? According to the law published yesterday in the BOE in Chapter II art. 63 provides three modes of significant investment:
- An initial investment equal to or more than 2 billion euros in Spanish government bonds, or worth less than a million euros in shares or shares of Spanish companies , or bank deposits at financial institutions Spanish .
- The acquisition of real estate in Spain with an investment of equal or superior to EUR 500,000 per applicant.
- A business project that will be developed in Spain and is considered and credited as general interest , for which we assess the performance of at least one of the following conditions:
- Generate new jobs.
- Make an investment with important socio-economic impacts in the geographical area in which the activity will develop.
- Significant contribution to scientific innovation and / or technology.
Once concluded the first year of the visa it is possible its biannual extended by request of the residence authorization, which will be granted provided if you meets the investment requirements that led to the granting of the initial visa and must prove beyond any doubt, with the certificates issued by the relevant entities.
There are great expectations that the entry into force of this law has been raising in recent months, both from the supply and demand side . Countries like China, Russia and the whole American continent have long been attentive to the evolution of the parliamentary process and we are confident it will be a catalyst for investment decisions in the coming months .
We at Social Media Tailored took months preparing the ground for our clients in all these countries and we started to see the results.
Chinese delegations are visiting our developers with the intent to understand the process and be the first to capture this latent demand in the country.
We have also found niches in countries like Argentina, with a large colony of Spanish citizens, Peru with a very good economic situation, Venezuela with a difficult political situation and can also cause the change of traditional investments in Miami to projects in Spain with this new incentive. Nothing to say about very famous Russian millionaires who are populating the east of Spain from Barcelona to Alicante.
From the supply side, I can also assure you that there are many projects with great expectations after the publication of this law. Some developers we work with, have spent months laying the groundwork in those destinations, advertising their projects, with the assurance that this could be the time they were waiting for selling out the large investments made in recent years.
I think it is great news, eagerly awaited by the entire sector of luxury homes and we are confident will boost demand in the coming months.
We will be very attentive and more active than ever to capture all these opportunities that we will appear in the coming months.
Regards and as usual if you want to be aware of our activities I encourage you to follow us on our profile on Linkedin Social Media Tailored
Jesús Labrado Fernández