The new law granting a residency visa to investors spending 500,000 Euros on real estate in Spain has now come into effect.
MURCIA, Spain, Sept. 30, 2013 /PRNewswire-iReach/ — The long awaited law granting a residency visa for international investors buying property in Spain has finally been passed.
Investors spending a minimum 500,000 Euros on residential real estate or a portfolio of properties making up this limit will gain a residence visa often referred to as the “Spanish Golden Visa” or “Spanish Entrepreneur Visa”.
The visa is one of the most affordable and flexible in Europe. There is no minimum stay requirement in Spain and the visa can be renewed up to five years. Holders of the Spanish golden visa are free to travel throughout the Schengen visa countries in Europe.