Current Spanish immigration law does not require any specific amount to issue an investor visa. A self-employed person may be issued a temporary residence visa valid for a period of ninety days to five years if the proposed investment is proved to be appropriate and will provide jobs for Spanish workers.
In order to create more demand for real estate and foreign investment, the Spanish government has approved a major bill to enhance the economy and promote business that is now pending congressional approval, and this bill proposes new provisions on investor visas. In addition to other measures, the new law would allow the issuance of long-term residence permits to non-European Union citizens who invest in real estate of at least €500,000 (about US$664,500) in value; invest at least €2 million in Spanish public bonds or at least €1 million in deposits in Spanish financial institutions or the same amount in shares or participation in Spanish companies; or start or participate in a business to be developed in Spain that would create jobs, have a positive socioeconomic impact in the region where it would operate, or add relevant scientific or technological innovation.
In recent years, investment in real estate by foreigners in Spain has increased significantly, mainly from Russia, Norway, the United Kingdom, and Sweden. Real estate agents are currently seeing interest from Chinese investors who are attracted by the low prices in Spain and the expectation of the availability of a new visa that would facilitate those investments.
Prepared by Graciela Rodriguez-Ferrand
Senior Foreign Law Specialist
 Ley Orgánica 4/2000 sobre Derechos y Libertades de los Extranjeros en España y su Integración Social [LODLE] [Organic Law 4/2000 on the Rights and Freedoms of Foreigners in Spain and Their Social Integration], Jan, 11, 2000, Boletin Oficial del Estado [B.O.E], Jan. 12, 2000, as amended by Organic Law 2/2009, art. 37, http://www.boe.es/buscar/act.php?id=BOE-A-2000-544; and Real Decreto 557/2011, por el que se aprueba el Reglamento de la Ley Orgánica 4/2000, sobre derechos y libertades de los extranjeros en España y su integración social, tras su reforma por Ley Orgánica 2/2009 [RLODLE] [Royal Decree 557/2011, Approving the Regulation of Organic Law 4/2000 on the Rights and Freedoms of Foreigners in Spain and Their Social Integration, After Its Reform by Organic Law 2/2009], arts. 103–105.3.c and d, B.O.E. Apr. 30, 2011, http://www.boe.es/buscar/pdf/ 2011/BOE-A-2011-7703-consolidado.pdf.
 Id. (both LODLE & RLODLE).
 Proyecto de Ley 121/000052, Boletín Oficial de las Cortes Generales [B.O.C.G.], July 3, 2013, http://www.congreso.es/public_oficiales/L10/CONG/BOCG/A/BOCG-10-A-52-1.PDF.
 Id., arts. 60–64.
 Id. art. 60.2.a.
 Id. art. 60.2.c.
 La Venta de Viviendas a Extranjeros Creció un 15% en 2011 con 10,300 Transacciones, El Mundo (Aug. 18, 2012), http://www.elmundo.es/elmundo/2012/08/18/valencia/1345310625.html.
 Los Extranjeros Obtendrán la Residencia al Comprar un Inmueble de más de 500,000 €, El Mundo (May 24, 2013), http://www.elmundo.es/elmundo/2013/05/24/suvivienda/1369402921.html.
Last Updated: 12/30/2020