Spain Real Estate News
The Brexit transition period agreed in March gives British expatriates and those wishing to move to Spain more time to prepare. This was welcome news, but a small delay like this could slow people down in taking crucial actions that are fairly urgent - the clock is still ticking to get ready in time, particularly where paperwork is involved. ...continue reading "Brexit transition and residency in Spain"
The Council of Ministers has just given the go-ahead to a measure which has been anxiously awaited on the Costa del Sol. Foreigners who buy a property for at least half a million euros will be able to apply for a resident’s permit.
The measure is included in the proposed law of ‘Support for Entrepreneurs and their internationalisation’ , in the section which deals with attracting talent and investment through a new regime of visas and residence permits.
The law, which the government hopes will come into force on January 1st next year, will make it easier for residence permits to be granted for reasons of economic interests “through a quick and easy process and involving just one authority” for those who meet the criteria, according to information which was given to the press after the Cabinet meeting had finished.
...continue reading "Buying property for half a million euros will give residence rights"
There’s no such thing as an illegal immigrant with money. At least not in Spain thanks to the Government’s new strategy to revive the real estate market. The proposal is to change the immigration law to grant legal residence to non-EU citizens who buy a property in Spain for more than 160,000 euros.
Secretary of State for Commerce Jaime García-Legaz announced the project on Monday although later Prime Minister Rajoy stressed that as yet “no decision had been taken”.
There was an immediate response from other political parties, unions and immigrants’ associations, who described the plans as “strange” and “implausible”.
García-Legaz explained that the reform process would be set in motion within a few weeks and that he considered the 160,000 threshold to be “balanced” with respect to the government’s objectives.
“We can’t establish a lower price limit, because that would generate a massive demand for residence permits using a property as an excuse to get one,” he stressed.
...continue reading "Spain to give legal residence to non-EU property buyers"