LAW 14/2013 INVESTORS

Non-resident foreigners who intend to enter Spanish territory in order to make a significant capital investment may apply for a residence visa for investors.

Investors: Non-resident foreigners who intend to enter Spanish territory in order to make a significant capital investment may apply for a residence visa for investors

An investor is considered:

- An initial investment for a value equal to or greater than two million euros in Spanish public debt securities, or for a value equal to or greater than one million euros in shares or social participations of Spanish companies, or bank deposits in Spanish financial entities .

- The acquisition of real estate in Spain with an investment value equal to or greater than €500,000.00 for each family unit (applicant plus spouse and minor or adult dependent children).

- A business project that is going to 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 jobs.

- Carrying out an investment with a relevant socio-economic impact in the geographical area in which the activity will be carried out.

- Relevant contribution to scientific and/or technological innovation.

The investment may be made by a legal person, domiciled in a territory that is not considered a tax haven and the foreign applicant owns, directly or indirectly, the majority of its voting rights and has the power to appoint or dismiss the majority of the members of its administrative body.

Form of accrediting the investment in the case of purchase of a property. The accreditation of this will be done through the justification of having acquired ownership of the property or real estate (in the event that several have been acquired that reach the minimum investment amount requested) through certification with continuous domain information and charges from the Property Registry corresponding to the property or properties.

The acquisition of the property or real estate must be carried out free of all charges or encumbrances. The part of the investment that exceeds the required amount (€500,000.00) may be subject to such charges or encumbrances.

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1.1- VISA FOR INVESTORS

The foreign investor who wishes to reside in Spain for a period of more than one year will be provided with the corresponding visa, which will be valid for one year and will authorize the residence of its holder in Spain "without the need to process the Foreigner Identity Card" .:

1.2- RESIDENCE AUTHORIZATION FOR INVESTORS

Once the validity of the visa granted for one year has elapsed, the foreign investor may request his residence permit, together with the relatives who have accompanied him. To obtain the residence permit, the following is required:

• Be the holder of a valid residence visa for investors or be within the period of ninety calendar days after its expiration.
• Have traveled to Spain at least ONCE during the period authorized to reside.
• That he continues to be the owner of the property or real estate.
• Have complied with fiscal and tax obligations in Spain.

Renewals of Residence Authorizations will be granted, where appropriate, for periods of two years. 

Renewals of this type of residence permit may be carried out even if there are absences of more than six months a year. 

The maximum term for resolution of residence permits for investors will be 20 days from the submission of the application. If it is not resolved within said period, the authorization will be deemed to have been granted due to administrative silence. Logically, the resolutions will be motivated and may be subject to an appeal, in accordance with the provisions of articles 114 and 115 of Law 30/92, of November 26.

.- NEW! : The holder of an Investor Visa is allowed to apply for residency up to 90 days after the expiration of the visa.

.- NEW!:  If the applicant for the Residence Authorization for Investors is LEGALLY in Spain (it is normal for them to be in a situation of ordinary residence or in a situation of stay) and IS NOT THE HOLDER of the residence VISA for investors, they may apply for residence DIRECTLY, proving all the requirements requested for the Investor Visa.

.- NEW!:  It can be carried out through the construction or promotion of a property on a plot or land previously acquired through sale. The Supreme Court accepts the sum of both to apply for the Golden Visa.

1.3- LONG-TERM RESIDENCE AND NATIONALITY FOR HOLDERS OF A RESIDENCE AUTHORIZATION AS INVESTORS:

The holders of a residence permit must prove the continuity of residence in Spain for the acquisition of long-term residence and Spanish Nationality, so that as continuous permanence in national territory is not required, only the periods residence in Spanish territory.

.- It will have a duration of TWO YEARS. (Those who have previously obtained the Visa, by means of a deposit contract, will have to prove that they have finally acquired the property). 

. -NOVELTY!:  If the foreigner intends to reside for a longer period, he may renew the authorization for periods of FIVE years, as long as the reason that gave rise to its granting is maintained.

IMPORTANT:  In this case, the holder of the authorization DECIDES that, finally, he is going to RESIDE permanently in Spain, that is, he will spend more than SIX months per year of residence in our country. .- If the applicant does not want to stay in Spain for a period of more than six months per year of residence, he may continue to renew his residence authorization for successive periods of TWO YEARS.

.- NEW!:  If during the period of authorized residence the investment is MODIFIED, it must, in any case, remain in compliance with any of the assumptions that gave rise to the granting of the visa or residence, except in those cases in which the value of the investment is being altered by market fluctuations.

*IMPORTANT NOTE: 
During the processing of the procedure, the Spanish consular missions or offices may require any other document they deem appropriate, in order to justify the resolution that puts an end to it. 
Foreigners must maintain the conditions that gave them access to them during the validity of the visas or authorizations. 
The competent bodies of the General State Administration may carry out the checks they deem appropriate to verify compliance with current legislation.