Since the adoption of the law to support entrepreneurs in 2013 a new opportunity has opened for those investors outside the European Union who want to obtain a residence permit in Spain. This way has become an easy and quick method, if you have the capital, to get a visa to reside in the Iberian Peninsula.
The measure is designed primarily to attract non-EU citizens. Some of the options under standard conditions obtaining that license to disburse at least 1,000,000 Euros in shares of traded companies or not, bank deposits in financial institutions in Spain or promoting a business projects of general interest.
The residence permit in Spain can handle both once inside the state as abroad. Between the time of the investment to the moment of asking it can spend a year. If you are outside of Spain the applicant must apply for a residence visa for one year, whereas in the case that the person concerned is legally in Spain a stay authorization must be applied for an investor residence permit for a period of two years that will allow you to live and work. This may be renewed every 5 years if it is shown that investment remains in force and has been visited at least once the country during this period.
During the period of visa management for both the application and for the extension, investors will have residence in Spain until the case is resolved. Requested visas at the Consulate are resolved and reported in the period of 10 working days and residence permits are settled before 20 working days. The processing is performed for family jointly and formalities can through a representative with powers to it. The requirements to access this type of visa are basically be over 18 years old, have no criminal record and have authorized to operate in Spain public or private health insurance.
To renew the residence permit will not need to revisit the state as many stakeholders do not want to settle in Spain, but only the benefit of the circumstances arising from the residence in a EU member state which in turn involves the free movement within the Schengen area of 26 states (Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland).
This measure may also benefit the investor's closest relatives such as spouse, partners and children, sons over 18 years and dependent ascendants economically.
The investment may be made directly or through a company, in which case some requirements as not being domiciled in a tax haven, that the person concerned holds a majority of voting rights must be met and finally it has the capacity to appoint or dismiss the Board of directors.
Another way to get a residence permit by this way is to invest in a business project of general interest in Spain. To have this consideration it should create jobs, have an economic impact on the area where it is developed and represent a significant contribution to technological or scientific innovation. For this specific case is mandatory first a favorable report from the Economic and Commercial Office of Spain Consulate belonging to proceed after the presentation of a business plan.
For details on how to get residency through this process please contact our team of financial and legal experts to find a suitable investment for you.
lawyer and economist