Today, we anticipate that the Spanish Government will announce the draft bill of the Entrepeneurs Law, which will include, among other issues, some measures attract investors and entrepreneurs to Spain. The bill will allows non-EU residents to obtain a residence permit in Spain. The visa will probably be valid for five years and renewable after that. The law also contains other initiatives that will help Spanish investors and those who are already working in Spain to continue their work and innovation (cincodias.com).
It is not clear whether or not there will be a path to dual citizenship or a Spanish passport however we do anticipate that those who take advantage will have the freedom to travel throughout the EU and Schengen area. This new proyect has been called the Spanish version of Portugal´s Golden Passport (pie-mag.com).
It is expected that the Ley de Emprendedores will aid those who wish to bring innovative business and new employment opportunities to Spain. The government hopes that by giving non-EU citizens the opportunity to have dual residency in Spain they can attract foreign talent and innovation to the market.
The opportunities for Spanish residency permits visas extend to the housing market as well. The law will not only give investors the opportunity to live in Spain, but also those foreigners who wish to buy a home. The housing market is ripe for new home buyers and foreigners who purchase a home can automatically get a residence permit.
Please check our website for new information as it becomes available.
This article is not considered as legal advice