A high number of foreign investments in Spain were recorded during the first half of 2013 and it is further expected to increase. Favorable factors for the increase are considered to be the drop in prices of property in Spain and the assistance to foreign investors provided in the draft of the Law to Support Entrepreneurs and Internationalization.
Ownership eligibility in Spain, outlined in Royal Decree 664/1999 Article 2, is based on residency. Non-residents encompass Spanish citizens abroad, non-Spanish citizens living outside Spain, and corporate bodies located outside Spain, including non-Spanish public sovereign entities. Additional regulations on residency criteria and address changes are covered in Article 2 of Law 19/2003 dated July 4.
To address the provisions of Law 18/1992 dated July 1, which establishes certain norms regarding foreign investment in Spain, its sole article specifies that the “sectors subject to the law on establishment have their specific regulations.
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