Residence Visa for Investors in SpainUpdated on Monday 18th April 2016
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Spain has recently enabled a new legislation with respect to residence visa for foreign high net-worth individuals. Law No. 14/2013 allows foreign citizens from non-EU countries satisfying certain criteria to obtain Spanish residency. Among the advantages of the new law is also free travel in all Schengen counties for a period of 90 days every six months without additional requirements. Our Spanish lawyers can also provide with more information about Law No. 14/2013.
Requirements to apply for the Spanish investment visa program
The new program was dubbed “Golden Visa” and gives foreign investors the possibility to move to Spain. However, there are certain requirements one must meet before being granted the Spanish residence visa. These are:
- - the applicant must be at least 18 years old,
- - the applicant must have not entered the country illegally before,
- - the applicant must have not been denied entry in any other Schengen country before,
- - the applicant must be self-sufficient,
- - the applicant must have a health insurance recognized in Spain.
Also, foreign citizens may first apply for a Spanish temporary visa which can be transformed into a residence permit later on. The Spanish investor visa program does not impose the applicant a minimum amount of time to be spent in the country.
The following category of individuals can be accepted into the Spanish Golden Visa program:
- - investors,
- - highly-skilled professionals,
- - researchers.
If you need help in obtaining a residence permit, our law firm in Spain can assist you.
Specific requirements for foreign investors coming to Spain
Considering the Spanish Golden Visa addresses foreign investors most of all, at least one of the following requirements must be fulfilled in order to receive the visa:
- - the applicant must open a bank account in Spain and deposit at least 1 million euros,
- - the applicant must buy shares in a Spanish company worth at least 1 million euros,
- - acquire a public debt worth at least 2 million euros,
- - invest in a public debt at least 500,000 euros,
- - open a company in Spain.
Investment in real estate is also possible provided that the property to be purchased is worth at least 500,000 euros.
For complete information about the Golden Visa Program, do not hesitate to contact our lawyers in Spain.