Law 14/2013, of 27 September, “on support for entrepreneurs and their internationalization,” aims to promote a culture of entrepreneurship and create a favorable environment for the undertaking of economic activities. In the “international mobility” section of said Law, a new, special legal framework is created (in terms of visas and residency permits) for highly-qualified immigrants and investors that is simple, fast, and specifically designed to promote the entrance of investments and talent into Spain with the aim of increasing economic growth and creating jobs.
INVESTOR’S VISA (GOLDEN VISA)
The law grants this type of visa to anyone who makes a substantial investment.
Types of investment permitted:
- € 500,000 minimum investment in real estate located in Spain.
- € 1.000,000 investment in stocks or shares of Spanish companies.
- € 1,000,000 in bank deposits with Spanish banks.
- € 2,000,000 in Spanish public debt for a term of more than 5 years.
- A business project which has been proven to be of general interest.
Who can invest:
- The requester as an individual, and his/her family members.
- For spouses and children who are under 18 years of age, as well as those over 18 years of age but dependent.
- One sole investment per family.
- The residency permit of spouses and children depends on the residency of the requester.
- The requestor through an entity:
- The entity has legal personality.
- Domicile in Spain and abroad.
- Requester holds majority (in the company):
- Majority of voting rights.
- Control to be able to change the administrative body.
GOLDEN VISA REQUIREMENTS
- You must be a Non-EU citizen.
- You must be over 18 years of age.
- Your criminal record from the last 5 years must be clean in Spain and in the country or countries in which you have resided.
- You must not be listed as rejectable in any Schengen State.
- You must have a public or private insurance policy with an insurance company that is authorized to work in Spain.
- You must prove that you have sufficient financial means.
- The rest of your family members must prove their relationship and, if applicable, their dependency.
- You must pay the processing fees.
WHEN SHOULD THE INVESTMENT BE MADE?
For financial investments (public debt stocks and bank deposits) the law requires for them to be made 60 days before the visa.
For real estate investments the law does not stipulate a timeframe; however indirectly (in renewals) it is necessary for the certificate of registration to be at maximum 90 days old.
For business investments there is not a specific timeframe but they must be made after the law went into effect.