37
37

Those foreigners investing one million Euros in public debt will have the residence permit.

There are new facilities to obtain the residence permit in Spain. The draft of the Law to back entrepreneurs and their internationalization foresees that all foreigners that buy Spanish public debt for a minimum of one million Euros will receive the permit of residence in Spain.

Apart from the acquisition of Treasury bonds (or from other Spanish administrations), those who acquire the same volume of non listed shares from Spanish companies, of listed shares of Spanish companies or bank deposits from Spanish financial institutions will also receive the residence permit. This measure allows the entrance of capital in Spain in exchange for the residence permit.

Apart from the injection of funds in companies, banks and administrations, the Government is hoping to promote the acquisition of properties in Spain with a value over 500.000 Euros. This measure was presented a few months ago, but has been finally included in this draft. Those who carry out projects “of general interest” with at least one of these conditions: to create jobs, investment with social and economic impact with a geographic relevance and a relevant scientific and technological contribution, will also obtain the permit.

37