Entrepreneurs Support & Internationalisation Law (14/2013)
This law aims to attract foreign investment into Spain and came into force on 29 September 2013.
It provides for residence permits and visas to be granted to foreign nationals who acquire real estate in Spain valued at Euro 500,000 or more (the property must not be subject to a mortgage or injunction).
The foreign investor's wife and children can be granted residence in Spain as well as the foreign investor.
The residence permit has a duration of 2 years and is renewable for further periods of 2 years provided the investment is maintained (it appears that first, a 1 year residence visa must be obtained during which time the application for the new residence visa can be made).