Since getting into force of the Law of entrepreneurs the possibilities of living in Spain for foreigners have changed. Those who are planning to emmigrate to Spain can do it if they have one or more of these reasons.
- They are going to invest in Spain.
- They are going to start a business
- They are professional highly qualified
- They are researchers
- They are workers that make intra-company movements in the same company and group of companies.
One of the possibilities for a foreigner is to invest in Spain. In order to remain in Spain legally you have to fulfil the same requirements that legal residents. You need to be of legal age, don´t have criminal record, have a public or private health insurance, have enough incomes for the residence period in Spain (the minimum quantity is fixed) and pay the legal taxes.
In this case, the main requirements you need to meet are:
- Those foreigners that want to enter in Spain for investment have to apply for the stay visa or resident visa for investors.
- You need to invest with the following requirements:
- You have to make an initial investment of at least 2 million euros in public debt or in shares or social participations of Spanish companies, or bank deposits in Spanish financial institutions.
- The acquisition of real estate in Spain with an investment of value equal to or greater than 500,000 euros for each applicant.
- A business project that will be developed in Spain and that is considered and accredited as being of general interest, for which compliance with at least one of the following conditions will be assessed:
– Creation of job positions.
– Making of an investment with social economic impact of relevance in the geographical area where is going to be developed.
– To provide with a relevant scientific and technological innovation.
- The foreigner is supposed to make a significant investment of capital when the investment is carried out by a legal entity, domiciled in a territory that is not considered a tax haven according to Spanish regulations, and the foreigner owns, directly, the majority of its voting rights and has the power to appoint or dismiss the majority of the members of its administrative body.
- For requester’s relatives they will have to accredit the family relationship or marital relationship.
This Golden Visa will past for at least two years. After this period, you can ask for the renewal of the residence permit for investors for another period of two years. You will receive the concession of the permit in a 20 days period. In case that you don´t receive any response from the administration in this period it is understood that the permission has been conceded.
If you are going to continue living in the country for more years you have to maintain the conditions that gave access to them. The General State Administration can carry out checks to verify the compliance with the legislation. So, it is important to have the assessment of a lawyer specialized in this kind of management in order to have everything organised.
In case of fault rectification the fixed period to meet all requirements is 10 business days.