Very interesting news for foreigners not resident in the European Union.
The Law to Support Entrepreneurs, Law 14/2013, of September 27, has introduced among its provisions an important novelty that is very interesting for foreigners not resident in the European Union, such as the possibility of obtaining a residence visa in Spain. for those who choose to make certain investments, among which the investment in real estate located in Spain stands out.
Accordingly, foreigners not resident in the European Union may apply for a residence visa for investors when they purchase a property in Spain of at least €500,000.
The importance of this new measure to promote investments in Spain lies in the outstanding advantages that its holders obtain immediately and indirectly and which can be summarized in:
Streamlining of procedures: The deadlines for obtaining a residence visa in Spain are substantially simpler and faster than those existing for obtaining an ordinary visa.
No need to prove tax residence in Spain: This measure is unrelated to the need to prove, obtain or maintain tax residence in Spain, so, being able to reside in our country, it is not
It is necessary to do so for most of the calendar year, although this advantage must be highly considered if the final objective is to obtain long-term residence or Spanish citizenship.
Free movement within the European Union: Designed for foreigners not resident in the European Union, it provides the possibility that its holders can move within the limits of the European Union, showing only the document proving their investor residence visa. .
Obtaining long-term residence in Spain: The investor visa in Spain is the essential first step to obtain the residence authorization and, after the appropriate renewals, obtain long-term residence in Spain within a period of 5 years. although continuous residence must be proven throughout that period of time (certain temporary absences are allowed).
Work and professional development in Spain: perhaps the most relevant for those non-EU citizens who find Spain a good place to undertake their new activities, the investor visa makes it possible not only to reside but also to work in Spain.
Spanish citizenship: The investor residence visa does not represent an impediment to the process of obtaining Spanish citizenship, which can be requested in general after 10 years of residence in Spain (2 years for some countries with special nationality agreements), although, Among other requirements, effective residence in our country during that period of time must be proven.
In short, we are facing a magnificent opportunity for those non-EU citizens who can see Spain as a good destination for their investments, obtaining in return an important streamlining and simplification of the procedures to be able to legally reside in our country, move freely throughout the Union. European Union, develop their business or professional activity in Spain and achieve, if they wish, the possibility of obtaining Spanish nationality.
At HJAPÓN we offer you personalized advice from a highly qualified and experienced professional team that will make knowledge in this matter available to you, offering you the alternative that best suits you.