Investors from abroad who offer jobs in Spain will get automatic residence rights
Tuesday, May 21, 2013 @ 5:37 PM
FOREIGN investors who could potentially create jobs in Spain may be given automatic residence rights and visas in a new move by the central government to encourage multi-national firms to set up branches in the country.
Companies or individuals who bring a 'notable socio-economic impact' or 'important scientific or technological innovation' into Spain will find the paper-trail required to obtain residence will be considerably simplified.
Where these people, or the owners and existing key staff of the firms in question are self-employed and involved in more than one area of activity, they will be given a discount on their monthly social security contributions.
They will need to provide evidence that they intend to make 'significant financial investments' in Spain and 'create jobs' in order to benefit from an easier residence process.
The new law allowing for this is hoped to make Spain a more attractive place for highly-qualified professionals and scientific investigators by cutting down on the red tape required for settling in the country.
Read more at thinkSPAIN.com