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    Under the Law 14/2013, of 27 September,

    on support for entrepreneurs and their 


     

     

    Definition

     

    From the 27 of September 2013, citizens not residing in the EU also have the possibility of applying for a residence permit in Spain, with which they can move freely through the 27 countries of the Schengen area. For this, they must invest, at least, 500,000 euros of own capital in a property in Spain. Amounts over 500,000 euros can be financed with a mortgage. The residence permit is also valid for the spouse and minor children, as well as for the parents of the investor. Being required to pay taxes as non-residents; the minimum length of stay is not limited.

     

    So, You may obtain a residence visa, and afterwards a residence permit, if you invest at least €500,000 in Spanish property (one or more), provided that at least the minimum investment amount is unencumbered (mortgage free).

    You may conduct the investment after your residence visa application is approved, provided that you have transferred the funds to Spain and concluded a sales and purchase agreement with guarantee of compliance prior application.

    Investment may be carried out by your non-Spanish company, provided that is not incorporated in a considered tax haven. You must own, directly or indirectly, the majority of its voting rights and the right to designate or remove the majority of the members of the board of directors.

    The residence visa is valid for 1 year, during this year you may apply for a temporary residence permit which will be valid for 5 years, provided that you still keep the investment. Your spouse and your unmarried dependent children may be included in the application.

    To maintain your residence status, you will be required to visit Spain at least once per year.

    After 5 years holding the temporary residence permit, you will be eligible for permanent residency. For residents under this scheme, no physical residence or place of abode is required to apply for a PR status.

    Note that the 1-year residence visa does not count in this 5-year period!

    The permanent residency will entitle you to live and work in Spain indefinitely.

    After 10 years of legal residency (temporary or permanent) you may be eligible for naturalization. To become a Spanish citizen, you will be required to commit to renounce your previous nationality, have financial stability, no criminal record, attend to an interview and prove your degree of integration into Spanish society, e.g. knowledge of Spanish language, culture, values and participation in Spanish social activities!