Following the approval of Ley 14/2013, de 27 de septiembre, de apoyo a los emprendedores y su internacionalización, foreigners intending to enter or reside in Spain may do so for reasons of economic interest in those cases in which they can prove to be investors.
- Being over 18 years of age,
- Not to be found irregularly in Spanish territory
- Have no criminal record in Spain,
- Not appearing as objectionable in the territorial space of countries with which Spain has signed agreements to this effect, and
- Having sufficient economic resources to support themselves or, failing that, having a public or private health insurance policy taken out with an insurance company authorised to operate in Spain.
How to obtain the residence by real estate investment in Spain.
With regard to the requirements relating to the investment, this must be framed in one of the following cases:
A) An initial investment with a value equal to or greater than 2 million euros in Spanish public debt securities, or with a value equal to or greater than one million euros in shares or holdings in Spanish companies, or bank deposits in Spanish financial institutions. This investment must have been credited within a period of no more than 60 days prior to the filing of the application.
B) The acquisition of real estate by purchase and sale in Spain with an investment of a value equal to or greater than 500,000 euros for each applicant. The acquisition of these properties can be made in co-ownership, and they do not have to be used for housing, so it would be possible to acquire, for example, business premises.
C) A business project to be developed in Spain that is considered and accredited as being of general interest, for which compliance with at least one of the following conditions will be assessed:
1.º Creation of jobs.
2.º Carrying out an investment with a relevant socio-economic impact in the geographical area in which the activity is to be carried out.
3.º Relevant contribution to scientific and/or technological innovation.
An investment made by a legal entity, domiciled in a territory that is not considered a tax haven in accordance with Spanish regulations, and the foreigner has, directly or indirectly, the majority of his or her voting rights and has the power to appoint or remove the majority of the members of its administrative body, shall also be eligible.
Initially, if all the legal requirements are met, it will be possible to obtain a residence visa for investors for a period of 1 year and subsequently a residence permit for a period of 2 years, if the investment and other requirements set out in the Law are maintained, with a maximum duration of 5 years.