After a year and a half that the new law granting non-EU citizens automatic Residency (Law 14/2013) came into force, Chinese investors represent the 24% of the total purchase of a property.
Private Chinese investors and investment funds are increasing their visits to Spain finding great oportunities in the real estate market and discovering very interesting companies’ projets to invest. Likewise, they are discovering the fantastic lifestyle benefits of our country.
We would like to review below the most important items of this law.
Its aim is:
. To promote entrepreneurial culture and develop business friendly environment.
. To encourage the entry of investment and talent in order to foster economic growth and create jobs.
It’s addressed to:
. Highly skilled professionals.
. R+D+I training.
. Intra-corporate transferees.
Referring the investors, they can apply for:
. A Residence visa for a one-year residence.
. Two-year residence permit that can be renewed:
– If the investment is maintained, and
– If you have made at least one visit to Spain during the residence period.
. Request the initial residence permit you must already hold an investor visa.
The Investors can apply if they make a significant investment in Spain:
– Real estate assets (€500,000)
– Shares or bank deposits (€1 million).
– Public debt (€2 million).
. Business projects in Spain considered being of general interest.
The most important benefits are the following:
1) The residence permit allows its holder to live and work anywhere in Spain.
2) The awarding of this residence permit does not require actual residence in Spain, which is considered to be that oer 183 days. The only requirement is to visit Spain once during the period of residence.
3) Combined processing of permits for couples and their children.
4) Streamlined processing:
. Visa decisions are made and notified within 10 working days.
. Decisions are made on residence permits within 20 days.