Spain offers visas to foreigners through the Law on Entrepreneurs
Today Spain is one of the European countries that have a greater number of foreigners interested in investing and live in it, why the Spanish government proposed a couple of years ago the Law on Entrepreneurs for foreigners, whereby, according to property consultant, Ignacio Acosta Sorge, is much easier to obtain a visa allowing live legally in the country. This type of law is intended for experienced investors, entrepreneurs, highly qualified professionals, researchers and workers who carry out intra-corporate movements as well as spouses and children less than 18 years.
This type of law contemplates an expedited processing, establishing general resolution within 10 days for all visas that are included in the law. This residence visa requested under this law will be enough to live in this country for a period of one year without the need to make the necessary arrangements for the identity card of a foreign degree. The renewal of residence may be made even higher absences there six months a year in the case of residence visas and authorizations for foreign investors or foreign workers from companies doing business abroad have fixed place of operations in the country.
General requirements to apply to the Law on Entrepreneurs
• Do not be illegally in Spain
• Being over 18 years.
• Do not have a criminal record in the Spanish nation or in countries where it has recently experienced, especially for crimes that appear in the legal system of Spain
• Do not appear as reprehensible in the territorial space of countries with which Spain has signed an agreement to that effect.
• The person must be a public or private health insurance made with an insurer authorized to work in the Spanish country.
• Have sufficient financial resources for himself and for members of his family during his period of residence in Spain (2,130 € per month for the interested and € 532 for each family member who is in charge).
• He also must pay the fee for processing the visa.
• It is important to note that the possibility to arrange a visa residence extends to spouses and minor children of 18 years or older who are unable to provide their own needs because of their health status when they meet or accompany to applicants. As a result, they have the right to seek, jointly and simultaneously or successively family residence visa, subject to proof of compliance with the requirements already noted earlier.
Similarly, it is important to clarify that the presence visa applicant shall not be required, may request and collect the residence visa through duly accredited representative.. Also remember that if you want more information on real estate advice you can enter our video gallery, where you will find relevant information available.
The assumptions of residence visas to those referred to in this Law are as follows:
Residence Visa for Capital Investors
When we refer to this type of visa, we are talking about a basic minimum investment of 2 million or more in securities of Spanish government debt or a value equal to or greater than one million euros in shares or shares of companies in the country in which the visa or Spanish bank deposits in financial institutions is requested.
In addition to the requirements set out in general, the applicant must show that they have made the investment in the minimum amount required in a period not exceeding one month prior to the filing of the application, as follows:
In the event that an investment is made in unlisted shares or shares must be submitted a copy of the declaration of the investment made with the Registry of Foreign Investment of the Ministry of Economy and Competitiveness.
In the event that takes place an investment in listed shares, also will be presented a certificate of the financial intermediary, which must be properly recorded in the Comisión Nacional del Mercado de Valores or the Bank of Spain, in which It should be noted that the person requesting it really carried out the investment as it concerns the law.
In the case of investment in government bonds, a certificate from the financial institution or the Bank of Spain in which it stated that the person requesting is really the only holder of the investment for a period not less than 5 years shall be submitted .
In the case of investment in bank deposit, a certificate of financial institution stating that the applicant is the sole owner of the bank deposit will be presented.
Spanish Residence Visa Through Real Estate Acquisition
Since 29 September in force Law 14/2013 of 27 September, supporting entrepreneurs and their internationalization. According to the Real Estate Expert, Ignacio Acosta, this new law will allow foreign citizens apply for new types of visa and residence permit in Spain; in particular foreigners intending to invest in Spain or undertake an economic activity they may apply to the competent Spanish Consulate a residence visa in Spain and the subsequent application for a residence permit at the Office of Immigration relevant.
Residence visa for investors in the case of home purchase is granted:
The acquisition of real estate in Spain with an investment of value less than € 500.000 thousand for each applicant within a period not exceeding 60 days prior to the filing of the application.
What do I need to be credited with this visa?
- Certification with continuous information domain and property registration charges.
- In the event that the registration has been made in the land registry is in processing period, will be eligible to be submitted the document to be displayed is current seat submission of the acquisition, accompanied by documentation demonstrating that have been canceled taxes due.
- The applicant must confirm that you really have an investment in real estate of 500,000 euros or more, which must be free of any liens or encumbrances.
- The granting of residence visa for investors will be enough to reside in Spain for at least one year title.
- Residence visas are requested at the consulate of Spain in the country of origin, visa applications will be resolved and notified within 10 working days, except in cases of applicants subject to the consultation provided for in Article 22 of Visa code, in which case the term resolution will be generally provided in the code (A State member will have the option to ask the competent authorities belonging to other States which are also members to study its central authorities during the evaluation of applications lodged for nationals of a number of third countries or other cases by specific categories of such nationals. The central authorities consulted shall reply definitively within seven calendar days after the completion of the consultation.)
- According to the agency Panda Estates, customers who come from other countries and who have the desire to live in this country for more than 12 months may receive some kind of authorization that allows them to live there quietly and which is valid throughout Spain.
Residency Visa for Entrepreneurs and Business Activities
Under this assumption they must accommodate both investors who submit a business project that will be developed in Spain and is considered accredited and general interest, such as those who plan to enter and remain in the country for a period of 12 months with the sole purpose of carrying out everything about the preliminary proceedings that are necessary for the development of an entrepreneurial activity.
Mainly it is important to note that the applicant must demonstrate a favorable report from the Commercial Office in the field of geographical demarcation where this investor visa application to demonstrate that there are reasons of general interest in the business plan presented.
It is also important to note that it is admissible significant capital investment in cases where the investment is carried out through legal person domiciled in a territory that is not deemed a tax haven according to Spanish rules, and abroad holds directly or indirectly the majority of voting rights and has the power to appoint or remove the majority of the members of its board.
When we refer to entrepreneurs, it is recognized as one that is entrepreneurial activity of innovative special interest for the country and for this purpose have an favorable report from the Commercial Office where the investor submits the application for a visa.
Residence Permit for Highly Qualified Professionals
The request for this visa required by the company carried out the previous procedure in Spain for a residence permit for highly qualified professionals, processing to be held in the Large Companies Unit and Strategic. His grant will correspond to the Migration Board.
It is in temporary residence and work of highly qualified professionals (for more than 3 months period) that authorized to perform a work activity foreign worker to be required to have higher education qualification (that derived from training teaching higher minimum duration of three years and provide the level of qualification necessary to practice a profession requiring a high level of training or to join an advanced research program) or, exceptionally, attesting a minimum of five years of professional experience that can be considered comparable to that qualification, related to the activity for which the license is granted.
Holders of an EU Blue-Card issued by another Member State of the European Union and their families acquire the right to move to Spain to exercise a highly qualified after 18 months of having the card without employment visa.
Residence visa for Training and Research
Under this visa casuistry on foreigners who wish to engage in training, research, development and innovation in public or private entities contemplated. Such cases are:
• The Research Staff referred to Article 13 and the provision of Law 14/2011 added, the 01/06, Science, Technology and Innovation.
• The Scientific and Technical Personnel carrying out scientific research, development and technological innovation, business entities or R & D + I, which are established in the country.
• Researchers welcomed in the framework of an agreement research organizations both private and public, under the conditions established by the regulations.
• Teachers employed by universities, bodies or centers of higher education and research, or business schools established in Spain according to the criteria established by regulation.
Residence Permit for Intra-Company Transfers
According to the website Ey, this visa may be processed by foreigners who move to Spain in the context of an employment, professional or vocational training on grounds of relationship with a company established in Spain or in another country.
The request for this visa required by the company carried out the previous procedure in Spain for a residence permit for intra-company transfer, processing to be held in the Unit for Large Companies and Strategic Collective. His grant will correspond to the Migration Board.
To proceed with this type of application the company must apply for authorization in the Unit for Large Companies and Strategic Collective. Once the authorization granted, if the person concerned is outside Spain, you must apply for a visa.
Documents and requirements requested
– Identity card or passport.
– Public or private health insurance with an entity operating in Spain.
– Certificate of criminal record.
– Accreditation sufficient for himself and members of his family during his period of residence in Spain means.
Documents proving meet the following requirements:
– Existence of a real business and, if applicable, the business group.
– Superior or equivalent degree, or, where applicable, minimum professional experience of 3 years.
– Existence of an employment or professional, prior and ongoing relationship 3 months with one or more of the group companies.
– Documents proving the transfer to Spain.
Residence visa for family
The new law provides that the spouse and children who are under age 18 or older but who do not have the capacity to provide their own needs because of any reason, which meet or accompany him may request a residence visa.
This visa entitles the holder, family member of a Spanish citizen or citizens of countries of the European Union (EU) / European Economic Area (EEA) resident in Spain, to accompany or join the EU-EEA citizen granting the right.
May apply for this visa the following family members of an EU-EEA citizen:
- a) The spouse or partner with whom maintained a similar binding marital enrolled in a Spanish or European public record.
- b) Direct descendants or those of your spouse or registered partner, under 21 and over that age who are economically dependent on Spanish or European citizen.
- c) Direct ascendants and those of your spouse or registered partner who are financially dependent on Spanish or European citizen.
In addition to the general requirements must prove their family relationship.
Family members of citizens of the European Union and the European Economic Area who are not beneficiaries of EU law because they do not travel nor will gather with family and / or because they do not meet the requirements listed in the previous paragraph, shall submit your visa application as any national of a third country, not these specific rules to apply.
Opportunities to obtain a visa in Spain by Law Entrepreneurs are large, today there are many ways to obtain, especially for foreign citizens, one of the most common it is by investing 500,000 euros in a building with which also they have the option of obtaining a work permit. We hope this article has clarified your vision regarding visas offered, which can access and how to do it.
Drafted by: MARA
Word Count: 2.091
Contribution to the reader: gives readers, especially foreigners, relevant information regarding the types of visas that can be accessed through the Law on Entrepreneurs.
You might also like
Having achieved the title of the main “Garden of Europe” a property in Spain to investors before the 2008 crisis in Spain it built more homes than, say, in Germany