Focus on Spanish investment immigration, focus on Spanish news:
On May 25, Xinhua News Agency reported from Madrid (reporters Xie Haining and Xie Yuzhi) that Spanish Deputy Prime Minister Soraya Sáenz de Santamaría announced on the 24th that the Spanish government is likely to grant residency rights to foreigners who purchase real estate worth over 500,000 euros or subscribe to Spanish government bonds worth over 2 million euros.
The new draft of the "Support for Entrepreneurs and Their Internationalization" by the Spanish government addresses the aforementioned investment immigration issues. The Spanish government hopes to attract foreign investors to purchase properties in Spain, thereby promoting the sale of properties that have been stagnant due to a decline in domestic demand. According to statistics, in 2013, the number of properties purchased by foreigners accounted for 15% of the total number of properties sold in Spain.
Previous reports indicated that the threshold for obtaining residency rights through property purchase in Spain was set at 160,000 euros or 250,000 euros, but this amount has been raised to 500,000 euros in the current government draft.
The draft also includes provisions for foreign investors that grant residency rights to those making significant investments in Spain and possessing high-level professional skills. Additionally, foreign investors whose investment plans can help create jobs in Spain, have a significant impact on the socio-economic landscape, contribute to technological innovation, and serve the public interest will also be eligible for Spanish residency rights.
Although this draft law has been approved in the cabinet meeting, it must still be submitted to the Spanish Parliament for discussion and voting according to the formal legal amendment process before it can become law. However, the ruling People's Party currently holds a majority in Parliament, making it likely that the bill will pass. Another possibility is that it may be submitted to the King, who could issue a royal decree to establish administrative regulations.
Currently, the Spanish government has not released further details regarding the residency rights involved in this draft, nor is it known whether there will be restrictions on employment, healthcare, education, and other aspects after obtaining residency rights.
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