After many months of deliberation the Spanish government approved a law in September 2013 which grants Spanish residency to non E.U. citizens investing in Spain.
- Entitle investors to residency in Spain for one initial year.
- Entitle residents to a further two year permit renewable every two years whilst the investment is maintained.
- Enable residents to travel visa free throughout the mainland Europe “Schengen zone”.
- Allow family re-unification – The spouse and children under 18 or dependents can apply for residency under the umbrella of the primary applicant.
The following conditions must be met:
- The applicant must not have entered Spanish territories illegally.
- Have no police /criminal record.
- Must not have been refused entry to another Schengen country.
- Have access to medical insurance whether private or public.
The applicant must comply with one of the following:
- Investment minimum € 500.000 into Spanish Real Estate
- Investment minimum €1.000.000 in public trading Spanish companies or in cases, non-trading ones
- Investment minimum €2.000.000 in Spanish Treasury Bonds
Residency can be maintained indefinitely whilst the investment is held. Permanent residency can be applied to after 5 years and providing six months per year is spent in the country at which point there is no need to retain the investment.
Citizenship can be applied for on completion of ten years permanent residency.
For those who are looking to immigrate to Spain, a renewable visa can be arranged providing the applicant can demonstrate financial self sufficiency to live in Spain without working there.
This is a feasible option for those looking to retire or settle in this generally secure, peaceful environment.