Foreign non-residents intending on entering Spanish territory with the aim of making significant capital investments may request a short-stay visa or, if applicable, a residence visa for investors.
A significant capital investment is an investment that meets one of the following criteria:
- An initial investment with a value equal to or greater than 2 million euros in Spanish public debt securities, or an initial investment with a value equal to or greater than one million euros in shares or stake-holdings in Spanish companies, or bank deposits in Spanish financial institutions.
- The acquisition of real estate in Spain in an amount equal to or greater than 500,000 euros for each applicant.
- A corporate project that will be developed in Spain that is considered and certified as a general interest and which meets the specified labour, socio-economic and innovation criteria.
A corporation based in a territory that is not considered a tax haven under Spanish law may also carry out the investment and the foreigner must hold, either directly or indirectly, the majority of the voting rights, as well as be able to appoint or dismiss the majority of the members of the administrative body.
The method of certifying the investment is determined. In the case of real estate, a certification stating ownership and encumbrances from the Land Register corresponding to the property or land. This certificate will include an electronic verification code, which can be viewed online. If, at the time the visa is requested, the property being purchased is in the process of registration, it is sufficient to present the certificate that shows the current registry filing of the deed of sale, together with certified documentation confirming payment of the corresponding taxes. The applicant must be able to prove the availability of 500,000 euros worth of real estate that is free from all encumbrances. The part of the investment that exceeds the required amount may be subject to encumbrances.
The residence visa will last for at least one year
Holders of this visa may request a residence permit for investors, provided they meet the requirements of Article 66. This permit will have an initial duration of two years, and will be successively renewable for periods of the same duration.
Foreigners must continue to meet the criteria that grants them access to these permits and visas for the full duration of their validity, as the authorities may carry out the necessary checks (Seventh Additional Provision).
This article is not considered as legal advice