Derecho Inmobiliario y cuestiones Fiscales

The Entrepreneurship and Internationalisation Law is already approved and published in the BOE last Saturday September 28th. As we have already gone ahead in past publications, its strategic lines of action are stimulating the entrepreneurial culture and initiative, a Tax and social security incentives, the support for the financing and what is very interesting for us, the International Mobility. The Law is to promote foreign investment flows in Spain, making easier to obtain a Resident Permit in Spain for foreigners with economic and professional interests. A year VISA to foreign investors (non european) will be granted to those investing in Spanish territory if there is: – A purchase of properties for, or above the amount of 500.000€ with a certificate from the Land Registry. – A bank deposit in a Spanish bank or stocks or shares of Spanish companies for, or above the amount of 1.000.000€. – A purchase of Securities of Spanish Public Debt for, or above the amount of 2.000.000€. For investors who wish the Residency for Foreigners for more than a year, they must apply for a Resident Permit with a validity of 2 years. The measure is already operating in Portugal and Cyprus and it is attracting large number of investors from countries such as Russia and China. We hope the same success in Spain.