With the draft of the new ¨Law of Entrepreneurs¨, foreign investors from non-EU countries will be able to obtain an entry visa and a residential status with ease, as long as their entrepreneurial activity is of innovative character and special economic interest for Spain. Other general requirements for residency authorizations must also be met.
A high number of foreign investments in Spain were recorded during the first half of 2013 and it is further expected to increase. Favorable factors for the increase are considered to be the drop in prices of property in Spain and the assistance to foreign investors provided in the draft of the Law to Support Entrepreneurs and Internationalization.
After the approval of the Law to Support Entrepreneurs and Internationalization, the Financial Commission is preparing to pass the draft on to the Senate and then to the Congress of Deputies to ratify the final official text.
Law 4/2013, of 4 June 2013 provides more freedom in drafting rental contracts, their elements and clauses.
It is possible for a foreign national to renew their Non-Worker Temporary Residency Permit. This must be done during the 60 calendar days before the expiration of the old permit, by providing all the necessary documentation and meeting certain requirements. Each renewal lasts for 2 years.
Law 121/000052 to Support Entrepreneurs and Internationalization allows foreign nationals to apply for different types of visas in Spain. The main condition among others will be making a meaningful capital investment in the country. The article elaborates on these conditions and the definition of a meaningful capital investment.
A foreign national can opt for a long-term residence permit in Spain after maintaining a temporary one for a period of five years. Both residency permits allow the foreign national to eventually opt for naturalization and thus attain Spanish citizenship.
The draft of the Law to Support Entrepreneur and Internationalization was approved at the Minister’s meeting that took place on June 28, 2013. The bill is now to be passed on to the government for which special plenary sessions will be hold on July 16th and 17th.
The article discusses the purchase of real estate in Spain by foreigners, providing statistics about the nationality of the buyers, the purposes of their purchases, top locations and an evaluation of the economic effects of these purchases.
The article elaborates on the documents and conditions that a foreign national must meet to file a successful application for a Spanish Non-Worker Temporary Residence Permit.
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