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30.09.2013

Visa of residence in Spain

The Spanish Parliament has approved a law, which establishes new ways for foreigners to obtain residency in Spain.

VISA OF RESIDENCE FOR INVESTORS.
The following types of investments made by foreigners will enable them to get a residence visa:

– €2.000.000 in public debt.
– €1.000.000 in shares of private Spanish companies.
– €1.000.000 in a bank deposit in a Spanish financial entity.
– €500.000 in real estate in Spain.
– In a Business project in Spain that will be considered by Spanish administration to be of general interest for Spain.

The investment can be made by a legal/business entity where the visa applicant has, directly or indirectly, the majority of the rights to vote. The entity can’t be domiciled in a tax haven.
The investment must be made 60 days prior to filling the application.
The visa will allow the investor to stay in Spain at least one year, after that a new visa for a longer stay can be requested.

VISA OF RESIDENCE FOR ENTREPENEURS.
Foreigners may apply for a visa to enter and stay in Spain for a period of one year with the purpose of completing necessary formalities for the development of the entrepreneurial activity.

Entrepreneurial activity should represent an innovation and should be considered by the Spanish administration to be of general interest for Spain.



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