Residency After- Property Purchase over 500.000€ – Creating Employment etc

In May of 2013, the government detailed a new law which would aid residency in Spain. However, these laws are ultimately aiming at recovery of the economy in Spain.  For example, its states that those who do not reside within the EU community such as Russia, China, etc, will need to purchase a property over the value of 500.000€ in order to be facilitated residency in Spain. Initially last year, there was speculation on the limit being 160.000€, but this limit did not receive a majority vote.

The government also detailed other conditions which may facilitate residency, for example any entrepreneurs, investors who would be able to introduce employment, create businesses good for the economy with good figures would also be studied for residency rights. They also specifically mentioned any investors who would cancel public debt with a minimum of 2million € would also claim this right. There has been speculation also on  Indivuals who come to Spain with higher income rates of around 3000€ per month plus an extra amount per member of family.

Below are some news articles on this matter.

http://elpais.com/elpais/2013/05/26/inenglish/1369576180_396569.html

http://www.telegraph.co.uk/expat/before-you-go/10063966/Residency-law-gives-the-Spanish-market-a-boost.html