Obtaining a visa or residence through investment in spain

Foreigners who are not EU residents can obtain two types of permits for legal residence by making investments in our country:

1. Visa: When the foreigner making the application is outside Spain, he/she can obtain a 1-year permit to reside and work throughout the national territory. The application must be submitted to the Diplomatic Missions, Consular Office, Embassy or Consulate of the country of origin.
2. Residence permit: When the applicant is legally in Spain, he/she will obtain a 3-year permit, if desired, to reside and work.

The amount of capital invested has to be significant and, for this to be the case, some of the following options have to be fulfilled:

Financial assets	Acquisition of real estate	Business project
The investment must be for a value equal to or greater than 2 million euros in Spanish public debt securities.	The investment in the acquisition of real estate in Spain must be of a value equal to or greater than 500,000 euros per applicant.	Before applying for a visa or residence permit, provide a favourable report on the business project. You must submit an application form and a copy of your national identity card or passport.
1 million euros in shares or equity investments in companies with Spanish capital with a real business activity.
Invest EUR 1 million in investment funds, closed-end investment funds or venture capital funds incorporated in Spain.
Invest 1 million euros in bank deposits in Spanish financial institutions.

 

In addition, investors must meet the following requirements:

 

1. Not be a citizen of a state of the European Union, the European Economic Area or Switzerland, or a family member of a citizen of one of these countries to whom the EU scheme applies.
2. Not to be in Spanish territory.
3. Not have a criminal record in Spain or in the countries where he/she has previously resided, for offences under Spanish law.
4. Not be banned from entering.
5. Have the financial means to cover the costs of their own and their family members’ stay and return.
6. Be the holder of a public or private health insurance policy with an entity operating in Spain.
7. Not suffer from diseases that pose a serious risk to public health.
8. Not being within the period of commitment not to return to Spain, if he/she has availed himself/herself of a voluntary return programme.

 

WHAT DOCUMENTS DOES THE INVESTOR NEED TO SUBMIT?

 

1. Financial assets:

You must prove that you have made the investment in the minimum amount required as follows:

• Investment in unlisted companies: Submit the declaration of investment made in the Investment Register of the Ministry of Economy, Trade and Enterprise.
• Investment in listed shares: Submit a certificate from a financial intermediary registered with the Comisión Nacional del Mercado de Valores or the Bank of Spain, verifying that the investment has been made.
• Investment in public debt: Submit a verified statement from the financial institution or the Bank of Spain indicating that the applicant is the sole holder of the investment for a minimum period of 5 years.
• Investment in investment funds and other regulated funds: Provide a certificate from the Comisión Nacional del Mercado de Valores confirming an investment of at least one million euros in funds under management.
• Investment in bank deposit: Provide a certificate from the financial institution certifying that the applicant is the sole holder of the bank deposit.

In the case of visas, the certificates must be submitted no later than 60 days after the submission of the application and for residence authorisations no later than 30 days.

 

2. Acquisition of real estate:

The applicant must prove ownership of real estate by investing at least EUR 500,000 free of any liens or encumbrances. Investments exceeding this amount may be subject to charges.ç

Documentation required:

For visas: Certificate of ownership and encumbrances from the land registry with an electronic code for online consultation or the title deed. If the registration is still pending, the certificate of validity is accepted together with the corresponding tax payment documentation.

For residence authorisations: An up-to-date certificate of ownership and charges (issued within 90 days before the application) is required.

If the Purchase has not been Formalised:

A pre-contract with adequate guarantees and a certificate from a Spanish financial institution verifying the availability of funds necessary for the purchase, including charges and taxes, must be presented.

Legal Entity

The investment in Financial Assets or Real Estate is made through a Legal Entity domiciled in a territory that is not considered a tax haven under Spanish law.

 

3. Business project:

The following documentation must be submitted for the report to be issued:

• Business Project Report Application Form.
• Copy of Identity Card or Passport.
• In situations where the applicant does not apply in person, he/she must include a document authorising a representative to act on his/her behalf. This document must be accompanied by valid identification of the representative, such as an ID card or passport.
• Curriculum Vitae of the applicant
• The business project must have one of the following conditions:
  • Job creation
  • Realisation of investments that have a significant socio-economic impact on the specific region where the activity will be developed,
  • Significant contribution to scientific and/or technological innovation.