The Spanish government has introduced a new law that offers residency permits to non-EU national buyers if they purchase a Spanish property with a value of €500,000 or more.
The objective of this new law is to attract entrepreneurs to Spain, and stimulate foreign investment in Spanish real estate, public debt, and job creation.
This law enables non-EU nationals to get qualified residency permits in return for investing in Spanish real estate (and other assets), leading to long-term residency in Spain if certain conditions are fulfilled.
Spanish residency, and the ability to travel freely in the European Schengen area (for 90 out of every 180 days), will be a major attraction for many non-EU investors.
Spanish property prices have crashed into bargain territory and are now slowly recovering, creating some excellent investment opportunities.
It’s an attractive combination of residency and bargain prices for investors from outside the EU.