Spain’s golden visa to be ready in weeks?

Speaking to OPP Connect, Antonio Berdonces Vivancos said that the scheme, which will award residency to non-EU buyers who invest in Spanish real estate, had been agreed by the Spanish senate without being amended. The bill will now be sent back to the Congress of Deputies, the lower house, and could be ratified “within weeks”.

The scheme Sees Spain follow in the footsteps of several other eurozone countries, which are striving to encourage investment from overseas to bolster their struggling markets. With Russian and Chinese buyers stepping up activity around the world, they are markets that are increasingly vital to attract if a country wants to recover sooner rather than later.

Spain’s golden visa will give residency to non-EU buyers who invest at least €500,000 into Spanish land, residential or commercial property. The visa can then be renewed every two years.

Vivancos commented: “Yesterday, the ‘Golden Visa’ was approved by the Spanish Senate the Project of Law (Apoyo a los emprendedores y su internacionalización) without changes, excepting the date to enter into force that will be in general the day of its official publication.

“Hopefully, we will have the law approved and entered into force within next few weeks.”

Agents have already begun to promote the scheme to non-EU investors, with Lucas Fox reporting up to 30 enquiries a day, particularly from Asia.

Other moving and relocation news this week:

Vietnam to make it easier for overseas investors

Vietnam is planning to make it easier for foreigners to buy property in the country. The Ministry of Construction has announced plans to allow non-national buyers with visas valid for at least three months to purchase real estate in Vietnam. The proposals follow a pilot programme, which ran for five years and brought about 120 transactions.

Source: OPP

 

UK immigration changes to be introduced in October

Changes to the UK’s immigration and visa regulations are to be introduced in October, officials have announced. The alterations will include removing the requirement for English language for intra-company transfers and expanding the number of activities allowed for a business visitor in the country. More checks for genuine student visas will also be introduced.

For a full rundown of the changes, visit Expat Forum