What is it?
The law 14/2013 was issued after the financial crisis few years ago. The Spanish government, at that time, due to the hard local crisis of the banks, finance and real estate market which hit the country, wanted to introduce a special immigration law for Non-EU and EEE nationals who make a relevant investment in Spain in certain categories of investments , allowing them to apply for some special and very useful category of visa and residence permit through the local investment they do.
Who can apply?
The article 61 stated that can apply for this type of visa:
1.No EU and EEE nationals who intend to stay or reside, or already residing in cases where they provide evidence of being:
c)Highly qualified professionals.
e)Workers subject to intra-corporate transfers within the same undertaking or group of undertakings.
There are two different way to apply for a initial resident visa or permit depending if the solicitant stays already in Spain (also as tourist) or not:
-Candidates who are already legally in Spain or can enter without a visa have to present the application for the resident permit directly here through the special electronic system of MEYSS.
-Candidates who are abroad have to present the application in the spanish consulate of the place where they are resident.
When? And how long it takes to be approved?
Applicants can present the application anytime without any temporal limit or restriction, only thing to take in consideration for applicants who apply from consulate is that can be required a previous appointment.
After the presentation of the application it takes respectively:
- 10 working days for the application presented in the Spanish Consulate and for the issue of the Investor Visa.
- 20 working days for the application presented directly in Spain and for the issuing of the Investor Residency Authorization.
Once this period has expired, it is intended that the authorization was approved due to the ‘’ administrative silent’’ of the department in charge for the decision.
Which are the real benefit of this special Visa/ authorization?
- A single authorization for living and working valid anywhere in Spain including relatives if they meet the expected age labor regulations.
- Free movement within the Schengen member states.
- Fast issuing process.
- Possibility to include family’s members
- 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.
Which are the types of investor visa/permit introduced by the 14/2013 law?
The law 14/2013 has introduced different type of investor visa depending the type of investment and some other factors.
- 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. (Golden Visa)
- 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.
- High qualified worker which have high work skill in they sector.
Are there any general requirements?
The basic requirements to apply for this type of authorization are regulated according the general Immigration Law of Spain therefore it is required:
- Not be or have been in Spain in an irregular situation.
- Be over 18 years of age. (in case of the main permit/visa)
- 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 authorized to operate in Spain.
- Have sufficient financial resources for themselves and their families during their residence in Spain.