Residence Visa for Investors
Many countries in Europe have decided to open to wealthy investors has a way to encourage their economy. Portugal, Greece, Ireland and Spain are among these. The Spanish Law foresees that any foreigner who intends to enter the country for economic purposes as sets forth in the Article 61 of The new Supporting Act of Entrepreneurs and Internationalization 14/2013 (“Ley 14/2013 de Apoyo a los Emprendedores y su Internacionalización” in Spanish), better known as Ley de Emprendedores, which came into force on 29th September, shall be facilitated the entrance and residency in the country.
In the abovementioned Article, it is outlined the profile of the applicant to be considered for the Spanish authority, who shall be a non EU national (for EU nationals are entitled free movement around the Schengen area):
- Highly qualified professionals
This Supporting act for Entrepreneurs and internalization has open a wide range of possibilities especially for those non EU citizens investing significant amounts of money into our country for they will have access to residency and therefore, many privileges in connection therewith such as the free movement around the Schengen Area. As any other legal matter such significant sum of money must be invested, understood and performed on the terms outlined in the Law, otherwise it will be useless. Therefore, it is advisable to count with the help and guidance of an attorney who can assess you and offer you the existing alternatives according to your professional and financial profile for a successful application. Our Law Firm not only counts with experienced attorneys in immigration but also in Real Estate and Corporate law which can come very useful based on the type of investor visa you wish to apply for.
Type of investment
You may achieve this investor visa based on the type of investment you fulfill in our country. Article 63 of this Supporting Act of Entrepreneurs and Internationalization 14/2013 sets forth the following in this regard:
- An initial minimum investment of 2 million euros in bonds or bills of the Spanish public debt.
- A minimum investment of 1 million euros in shares of a Spanish company.
- A minimum investment of 1 million euros in bank deposits of Spanish financial institutions.
- A minimum investment of five hundred thousand euros (500,000 €) in property within Spanish territory.*
- An investment in a Spanish private company or business plan that will be developed within the territory that can be considered and credited of general interest.
*The investor shall buy one or more properties in order to reach the required amount in the law 500,000€. The property or properties to be purchased may be intended for residing or commercial purposes.
The investment shall be credited providing different documentation in connection thereof. Documents proving such investment could be:
- For investment in property you may submit a tittle deed of the property -or properties- or a certificate issued by the Property Registry stating value and owner of the same.
- For investments related to Spanish bonds you may provide a Certificate issued by the National Securities Market or Bank of Spain corresponding to the shares listed.
- For investments performed in private companies you shall provide a document stating your participation in such company or venture.
It is important to mention that this document proving the investment cannot be dated from a period exceeding 60 days prior the application date for your investor visa.
With this investor visa, you may achieve residency within a month. Contact our attorneys to answer all your queries about this type of visa.