Residence permit for foreign investors who purchase properties in Spain approved

Residence permit for foreign investors who purchase properties in Spain approved
The purchase of properties from 500,000 euros upwards by foreigners will entitle them to a residence permit for two years, but not a working permit, according to clarified sources at the Ministry of Economy.

Residence permit for foreign investors who purchase properties in Spain approved

Resident Permit for property investors in Spain

The purchase of properties from 500,000 euros upwards by foreigners will entitle them to a residence permit for two years, but not a working permit, according to clarified sources at the Ministry of Economy.

This clause, one of the most striking of the new laws applicable for entrepreneurs, has been created in order to "avoid embarrassment" to those foreign citizens having to leave the country every ninety days to renew their visas, and according to these sources, it has already been operating successfully in other nations such as Portugal and Ireland

It is high-income investors who nevertheless must pass all mandatory controls the Interior Ministry to check things like the absence of a criminal record.

This residence permit does not include a work permit, or the right to public health or welfare services, the mentioned sources stress.

Some experts predict a price inflation of the market for luxury properties.

Investing €500,000 or more in a Spanish property, whether for residential or commercial purposes, and in a property in Mallorca for example but also by investing in financial assets like Spanish government debt.

Granted permission to reside in Spain, also requires a number of guarantees, as the person will be given the permit provided that the checks carried out by the Interior Ministry are satisfactory. This residence permit will be for a period of 2 years and may be renewed, provided that the investment of 500,000 euros in Spanish real estate remains in place. On the other hand, also confirmed are granted residence permits for foreigners who make a purchase of public debt of over 2 million.

An increase in the residency-permit investment will be good for upmarket property segments in Mallorca or Ibiza , where sales have been increased by Russian, Chinese or Asian buyers in the last years.

The residency permit also provides an attractive incentive for foreigners to invest in business projects that create jobs or have a significant impact in terms of socio-economic or scientific and technological innovation.

With regards to other aspects of the standards, such as the so-called Express license being increased locally to 500 meters, which allows certain business ventures to open without certain municipal licenses, these are future plans to increase both the surface and the type of business, providing research affirms the success of this initiative.

You can now take advantage of the latest Spanish Government’s new law which will grant the residence for foreign investors who purchase properties in Spain.

Balearic Properties is one of the leading companies in Mallorca hosting luxury real estate properties in the most beautiful spots of the Balearic Islands. By buying one of the homes listed below, investors will get the possibility to obtain a legal residence permit to live in Spain

Selected properties for sale in Mallorca in order to obtain a residence permit in Spain

Pollença, Mallorca, Baleares
Ref POL5564POL2
Villas in Mallorca: Spectacular situation just in the middle of the village with breathtaking views over Pollensa.

Villas in Mallorca: Spectacular situation just in the middle of the village with breathtaking views over Pollensa.

Location, Location, Location! Spectacular situation just in the middle of the village with breathtaking views over Pollensa, rare opportunity to purchase
  • 1581 m²
  • 359 m²
  • 4
  • Private
Price 2,850,000 €
See more
Pollença, Mallorca, Baleares
Ref 627302
627302 - Detached Villa for sale in La Font, Pollença, Mallorca, Baleares

Detached Villa for sale in La Font

Contemporary house anchored in the mountains of Pollensa, in La Font, Majorca with breathtaking views, is oriented towards the south east, where you can
  • 0 m²
  • 0 m²
  • 4
  • Private
Price 2,800,000 €
See more
Palma de Mallorca, Mallorca, Baleares
Ref SWOPAL1071
Palma Property: Luxury frontline apartments in Palma, Sant Agustí with amazing sea views- completion in October 2013

Palma Property: Luxury frontline apartments in Palma, Sant Agustí with amazing sea views- completion in October 2013

LAST UNITS AVAILABLE Modern and luxurious seafront apartments in a district ofPalma de Mallorca. The apartments with 2-3 bedrooms will be refurbished
  • 0 m²
  • 149 m²
  • 2
  • Communal Pool
Price 845,000 €
See more
Alcúdia, Mallorca, Baleares
Ref AUC4807POL4
Luxury villa in the exclusive area of Aucanada for sale with panoramic sea views

Luxury villa in the exclusive area of Aucanada for sale with panoramic sea views

Unique Villa with luxury fittings and outstanding sea views. This impressive villa is a master-piece of design built to superb standards
  • 630 m²
  • 450 m²
  • 5
  • Private
Price 2,200,000 €
See more
Palma de Mallorca, Mallorca, Baleares
Ref SWOPAL1057
Modern Apartments: This brand new state-of-art development in pedestrian zone of the old town provides the opportunity of contemporary living in an historical environment.

Modern Apartments: This brand new state-of-art development in pedestrian zone of the old town provides the opportunity of contemporary living in an historical environment.

This tate-of-art development under construction in pedestrian zone of the old town provides the opportunity of contemporary living in an historical environment
  • 0 m²
  • 120 m²
  • 2
Price 592,950 €
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Andratx, Mallorca, Baleares
Ref SWOPTA4054
Mediterranean villa for sale in Puerto de Andratx, Mallorca Southwest

Mediterranean villa for sale in Puerto de Andratx, Mallorca Southwest

The mediterranean villa with 4 bedroom and 4 bathrooms,has a built area of 301 m2 including covered terraces of 37 m2 plus uncovered terraces of 75 m2
  • 754 m²
  • 301 m²
  • 4
  • Private
Price 2,400,000 €
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Andratx, Mallorca, Baleares
Ref SWOPTA1052
Mallorca Property: exceptional penthouse with panoramic sea views in puerto andratx

Mallorca Property: exceptional penthouse with panoramic sea views in puerto andratx

This spacious penthouse offers on 197m2 3 bedrooms, 3 bathrooms, 1 guest toilet, a large lounge with dining area, a modern, fitted kitchen and a huge terrace
  • 0 m²
  • 197 m²
  • 3
  • Communal Pool
Price 1,680,000 €
See more
Mallorca, Baleares
Ref POL5539
Country home in Mallorca: beatiful country home close to the golf course of Pollença

Country home in Mallorca: beatiful country home close to the golf course of Pollença

Beautiful country home close to the golf course in Pollensa and the village in a protected and calm country side location on a slightly elevated plot of
  • 15771 m²
  • 449 m²
  • 4
  • Private
Price 3,500,000 €
See more
Mallorca, Baleares
Ref POL6010POL2POL4
POL6010POL2POL4 - Hotel for sale in Pollença, Mallorca, Baleares

Hotel for sale in Pollença

An exciting opportunity to acquire a very well presented Interior Hotel. Superbly restored, spacious, versatile accommodation which occupies an outstanding
  • 616 m²
  • 750 m²
  • 8
  • Private
Price 2,900,000 €
See more
Pollença, Mallorca, Baleares
Ref POL4846LAFONT
POL4846LAFONT - Villa for sale in La Font, Pollença, Mallorca, Baleares

Villa for sale in La Font

Amazing villa with panoramic views to the bay, mountains and the charming village of Pollensa! This luxury property is situated in one of the best spots
  • 2091 m²
  • 500 m²
  • 4
  • Private
Price 2,200,000 €
See more
Mallorca, Baleares
Ref ALC11140
Splendid modern ground floor apartment with direct access to the sandy beach of Alcudia.

Splendid modern ground floor apartment with direct access to the sandy beach of Alcudia.

Splendid modern ground floor apartment with direct access to the sandy beach of Alcudia. This fantastic modern style ground floor apartment with private
  • 0 m²
  • 130 m²
  • 3
  • Private
Price 2,150,000 €
See more
Alcúdia, Mallorca, Baleares
Ref AUC4734ALC4
Modern villa for sale in Alcanada, next to the porsche Golf Club, with stunning sea views. North of Mallorca

Modern villa for sale in Alcanada, next to the porsche Golf Club, with stunning sea views. North of Mallorca

Sea, Beach and Golf. All you need is available within walking distance from this magnificent villa with stunning sea views. This property is located
  • 450 m²
  • 233 m²
  • 4
  • Private
Price 970,000 €
See more
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