ICEX-INVEST IN SPAIN

Residence Programme. Entrepreneurs Law

Investors

Non EU nationals who make a significant investment in Spain may apply for a visa or residence authorization for investors.

Candidates who are abroad must apply for a one-year residence visa.

Candidates who are legally in Spain, i.e. who have a residence or stay permit or investor visa, must apply for a two-year residence authorization. After this time period, this authorization may be renewed for five-year periods, provided that they continue to meet the requirements that originated this right and one visit to Spain during the period of residence.

• A single authorization for living and working valid anywhere in Spain.

• Free movement within the Schengen member states.

• Streamlined processing: 10 days for visas and 20 days for residence authorizations, combined processing for family members, procedures can be arranged through a representative.

• The awarding of this residence permit does not require actual residence in Spain, the only requirement is to visit Spain once during the period of residence.

REQUIREMENTS

PROCESS

DEADLINES

REQUIREMENTS

General requirements

• Not be in Spain in an irregular situation.

• Be over 18 years of age.

• Have no criminal record in Spain or in the countries where they have resided for the past five years, for offenses defined in the relevant Spanish legislation.

• Not be subject to an alert issued for the purposes of refusing entry in the territorial space of countries with which Spain has signed an agreement in this regard.

• Have a public or private health insurance policy with an insurance company authorised to operate in Spain.

• Have sufficient financial resources for themselves and their families during their residence in Spain.

• Have paid the visa or authorization processing fee.

The spouse or common-law partner and any children under 18 years of age or those of legal age who cannot provide by themselves and have not constituted their own family unit and parents who are dependant, who accompany or join the foreigner, may apply jointly and simultaneously or successively for their authorization and, where appropriate, their visa. In this case, evidence must be provided of being in compliance with the requirements listed in the preceding paragraph.

Specific requirements

Having made a significant investment in Spain either directly or through a company owned by the investor which is not registered in a tax haven. The investor must have the majority of the company’s voting rights and be able to appoint the majority of the Management Board.

• Initial investment of at least:

- €2 million in Spanish public debt.

- €1 million in shares or equities of companies with a real business activity.

- €1 million in investment funds.

- €1 million in bank deposits.

• Acquisition of real estate assets of at least €500,000 net of charges and taxes.

• Business projects in Spain considered being of general interest by fulfilling at least one of these conditions:

- Creation of jobs.

- Socio-economic impact in the region where the project is located.

- Significant contribution to scientific/technological innovation.

A representative appointed by the investor to manage a business project of general interest may obtain the investor visa or residence authorization.

PROCESS

1º APPLICATION FOR AN INVESTOR VISA OR AN INVESTOR RESIDENCE AUTHORIZATION

Candidates who are abroad must apply for a one-year residence visa.

WHERE: The Spanish consulate in the applicant’s country of residence. Select the Spanish office of representation of your place of residence.

Candidates who are legally in Spain, i.e. who have a residence or stay permit or investor visa, must apply for a two-year residence authorization.

WHERE: The Large Business and Strategic Sectors Unit [Unidad de Grandes Empresas y Colectivos Estratégicos (UGE-CE)]. The application must be made online through the electronic site of the Ministry of Employment and Social Security. Click here to apply online (in Spanish)

WHO: Application may be submitted by a representative.

DOCUMENTATION (translated into Spanish):

Investor Residence Visa application form: Information at the Consulate.

Investor Residence Authorization application form:

• Application form for the investor. Click here to download the application form. Please find an English translation to help you filling the official Spanish form here

• Application form for family members, if it is the case. Click here to download the application form. Please find an English translation to help you filling the official Spanish form here

• Fee. Click here to download the application form.

General documents:

• Identity document or passport of the applicant and family members, if it is the case.

• Public or private health insurance taken out with a company operating in Spain, except if the activity to be developed in Spain will require the registration within the Spanish Social Security System.

• Background check.

• Proof of sufficient funds to support the applicant and members of his/her family during the period of residence in Spain, if it is the case, by the corresponding labour, professional contract or training agreement.

• Authorization processing fee.

• Candidates who are legally in Spain at the time of the application: holders of a stay permit or study permit valid for a maximum of six months must submit the background check of the country or countries of residence in the last five years.

Specific documents:

Documents providing proof of the investment made in a period of maximum one year prior to the application:

• Unlisted shares and equity: statement of investment filed with the Investments Register of the Ministry of Economy and Competitiveness (Registro de Inversiones).

• Listed shares: document from a financial broker registered with the National Securities Market Commission (CMNV) or the Bank of Spain.

• Public debt: certificate from the financial institution or the Bank of Spain indicating that the applicant has been the sole owner of the investment for a period of not less than five years.

• Shares of a Spanish investment fund: certificate from the fund management company established in Spain, registered with the National Securities Market Commission (CNMV), stating that the applicant has invested at least €1million in one or more funds under their management.

• Bank deposits: certificate from the financial institution indicating that the applicant is the sole owner of the bank deposit.

Documents providing proof of the investment:

• Property: certificate of the Property Registry and, if necessary to show the acquisition amount, purchase deeds of the Real Estate’s sale. If the acquisition has not yet been executed: a guaranteed preliminary contract together with a bank deposit certificate stating the deposit has been made for the sole purpose of purchasing the real estate asset described in the preliminary contract, including charges and taxes.

• Business project of general interest: before applying for a visa or permit, a favourable report on the business intended to be carried out in Spain must be issued by the Ministry of Economy and Competitiveness.

For investments made through a company, before applying for a visa or permit, a favourable report on the legal entity must be issued by the Ministry of Economy and Competitiveness.

APPLICATION FOR A FAVOURABLE REPORT FOR A BUSINESS PROJECT OF GENERAL INTEREST OR LEGAL ENTITY

WHERE:

Candidates who are abroad must apply for favourable report at the Economic and Commercial Office of the Embassy of Spain in the applicant’s country of residence. Select the Spanish Economic and Trade Office of your place of residence.

Application for a report for a business project in the general interest (click here to download the form)
Application for a report for legal entity (click here to download the form)

Candidates who are legally in Spain, i.e. who have a residence or stay permit or investor visa, must apply for it to the  Directorate-General for Trade and Investment (Subdirección General de Comercio Internacional de Servicios e Inversiones, Dirección General de Comercio Internacional e Inversiones) and submit it at the Registry of the Ministry of Economy and Competitiveness (Paseo de la Castellana, 162, Madrid) or at any Public Registry in Spain.

Application for a report for a business project in the general interest (click here to download the form)
Application for a report for legal entity (click here to download the form)

DOCUMENTATION (as specified in the application form):

Application for a report for a business project of general interest

• Copy of the identity document and/or passport.

• Applicant’s cv: detailed academic and professional background.

 The Business Plan of the project, specifically:

1. Project:

   • Business activity

   • Proposed start date

   • Geographical area where the project will be set up

   • Type of corporate entity

   • Investment amount

   • Number of jobs to be created and description and qualifications required for each

   • Promotion and sales strategy

2. Founders and partners

   • For the applicants of the authorization: description of their participation in the project and financial status

   • For other partners: personal data, professional and academic profile.

3. Product/service

   • Description

   • Innovative aspects

4. Market analysis

   • Expected cash flow

   • Competitors

   • Potential consumers

   • Offer and demand analysis

5. Financing:

   • Required investment

   • Suppliers

   • Financing tools: subsidies, credits, etc.

Application for a report for a legal entity

• Copy of the identity document and/or passport.

• Copy of the company’s corporate deed

2º APPLICATION FOR A RESIDENCE CARD FOR FOREIGNERS

WHERE: Police station. Select the police station nearest to your address.

WHO: The residence authorization holder in person.

DOCUMENTATION:

• Application for a residence card for foreigners, for every family member if it is the case. Click here to download the application form. Please find an English translation to help you filling the official Spanish form here.

• Passport.

• Copy of residence authorization.

• Three photographs.

• Payment of fees: residence card.

DEADLINES

Decisions on visa applications will be made and notified within 10 working days, except in the case of applicants subject to prior consultation as provided for in Article 22 of the Visa Code, in which case the decision time period will be that provided for as a general rule in the mentioned Code.

 

Residence authorizations will be processed by the Unit for Large Companies and Strategic Economic Sectors in a maximum time delay of twenty days from the filing of the application. If after this time period, a decision has not been adopted, the authorization will be deemed to be granted due to administrative silence.

 

 

 

 

 

Last updated: 29|11|2016

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T (+34) 91 503 5800
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