# New property investment visa for Spain set to spark interest from Russia and China



## Editor (Aug 20, 2009)

A rush of interest from Chinese and Russians seeking to buy property in Spain is expected in the coming months with the country’s new law granting visas to non European Union citizens who invest in property set to become legal in July. The buyers will need to spend at least €500,000 on a property to [...]

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## 213979 (Apr 11, 2013)

Huh? Last time this story came out, the limit was 160,000€


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## xabiaxica (Jun 23, 2009)

elenetxu said:


> Huh? Last time this story came out, the limit was 160,000€


thjat's what I thought!!

half a million makes way more sense though - 160,000 € just didn't seem enough..


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## NickZ (Jun 26, 2009)

Is there an actual law?


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## 213979 (Apr 11, 2013)

xabiachica said:


> thjat's what I thought!!
> 
> half a million makes way more sense though - 160,000 € just didn't seem enough..


Sounds like a decent way to attract investment, though! 
Far less people are going to be able to spend 500,000€ on a home. 
That being said, I remember reading that work permission wasn't going to be automatically available on this visa. Makes sense, then, to raise the threshold.


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## Sirtravelot (Jul 20, 2011)

If I was a Russian and Spanish speaking Estate Agent I'd be making seriously crazy money this year.


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## xabiaxica (Jun 23, 2009)

NickZ said:


> Is there an actual law?


the article says it's coming into law in July - there was an announcement sometime around the middle of last year that it was planned


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## baldilocks (Mar 7, 2010)

It is probably restricted only to those members of the PP faction in government who want to sell some of the property they have bought with ill-gotten gains/back-handers. or am I being a touch cynical?


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## NickZ (Jun 26, 2009)

xabiachica said:


> the article says it's coming into law in July - there was an announcement sometime around the middle of last year that it was planned


So does that mean a law is before parliament or that there might be a law announced in July? 

I don't see anybody official quoted


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## skip o (Aug 1, 2011)

NickZ said:


> So does that mean a law is before parliament or that there might be a law announced in July?
> 
> I don't see anybody official quoted


I have seen so much misinformation about this "law." It was mentioned as a possibility by one official @ 6 months ago, and I haven't seen a single official word since. Yet even the New York Times had an article acting like the law had already been passed. 

I am guessing a lot of desperate people just want to convince themselves that this law has definitely happened when it hasn't.


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## doro (Aug 1, 2010)

skip o said:


> I have seen so much misinformation about this "law." It was mentioned as a possibility by one official @ 6 months ago, and I haven't seen a single official word since. Yet even the New York Times had an article acting like the law had already been passed.
> 
> I am guessing a lot of desperate people just want to convince themselves that this law has definitely happened when it hasn't.


Desperate?? You call the one with 500.000 euro ready to be spent on a house desperate?

Or you refer at some one who want to sell?

I really doubt this law will change anything at all. The amount of empty houses is insane. You really think there are so many buyers? And you have idea how many houses are over-overpriced, just because of that?

And lets put it like that, some one who have 500.000 euro to spend on a house.. you realize that not represent all his money, he should have much more. You think such person really have problems getting ANY visa? You get instant US citizenship with 1 million USD at VIP class. What I want to say, if you have so much money to spend, you're not really in a hurry to get a house in Spain just to obtain residence, when you can get anywhere in this world.


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## 213979 (Apr 11, 2013)

Instant US citizenship? Isnt it that you need to invest that amount and guarantee x-number of jobs to locals???


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## doro (Aug 1, 2010)

elenetxu said:


> Instant US citizenship? Isnt it that you need to invest that amount and guarantee x-number of jobs to locals???


EB-5 visa - Wikipedia, the free encyclopedia

Is even less now, 500.000 USD +10 employers for 2 years.


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## Lonely (Aug 11, 2012)

doro said:


> EB-5 visa - Wikipedia, the free encyclopedia
> 
> Is even less now, 500.000 USD +10 employers for 2 years.


I would not want it not even for free.


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