The Law on Support for Entrepreneurs, Law 14/2013 of 27 September 2013, introduces the important new provisions for foreigners who are not residents of the European Union, such as the opportunity to get a Spanish residence visa. The main condition to obtain a residence visa is to buy a property in Spain with a minimum price of €500,000 or to make the other investments in the country.
It´s very important to know that this amount is for each individual investor, meaning that if members of the same family wish to get the spanish visa, they must invest at least €500,000 for each person.
The investment in Spain has a lot of advantages for visa holders, which can be summarised as follows:
Fast-tracking: The processing times for the residence visa for investors in Spain are considerably simpler and faster than for a standard permit.
No need to demonstrate tax residence in Spain: This measure does not require that tax residence in Spain be demonstrated, obtained or maintained. Therefore, residence in the country for the majority of the calendar year is possible but not necessary, although this advantage must be highly weighted if the goal is to get a long-term residency or Spanish citizenship.
Freedom of movement within the European Union: This provision is aimed at foreigners who are not resident in the European Union, offering the possibility for visa holders to move within the European Union, only requiring that they show their investor residence permit.
Obtaining long-term residence in Spain: The investor visa is the first step towards obtaining a residence permit, and after the appropriate renewals, long-term residency in Spain within a period of five years. Uninterrupted residence for the period must be demonstrated (some temporary absences are permitted).
Work and professional development: the investor visa allows to the holder to work in Spain.
Spanish citizenship: The investor visa does not allow to the holder to get a Spanish citizenship in the short period, however, any holder of investor visa have a right to request a citizenship after 10 years of residence in Spain (two years for some countries with special nationality agreements).
Residence visa for investors is a great opportunity for non-EU citizens to get a permit to legally reside in the country, move freely throughout the European Union, undertake business ventures or professional activities in Spain and eventually obtain Spanish citizenship if they wish.