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Approved draft Bill for Residence Permits in Spain

The Spanish Government approved last May 24th the draft Bill of Entrepreneurs, in line with the European regulation recently approved in this field. This draft from the Government is pending to be passed as Project of Law, but sets the basic guidelines of the future Law, aimed to promote the foreign Investment in different areas and the development of business Projects in Spain, and boost the generation of employment.

The objective of this draft bill is to attract entrepreneurs from other countries to come to Spain and invest in business projects that create employment in Spain. Also planed is to give the Spanish residency to non EU citizens that acquire properties for a value of at least 500.000 € in total or acquire public debt for value of 2.000.000 €.

It is planed to create a central office for those who apply for this type of Residence Permits, with the purposes of unifying and speeding up the application process.

Also planed is a regulation of a new fiscal regimen applicable to entrepreneurs, by which different fiscal incentives in the IRPF (Income Tax) would be applied to the investment and financing of new companies and its planed to simplify and ease the procedures of creation and closing of Companies and businesses.

This autumn will decide on this draft and it’s expected to enter into effect in early 2014.

We will keep you informed.





Published in Costa del Sol Property News, Events and Hansa Realty News |