In this blog we will try to explain the key points of the Act that allows to obtain the "Residence Permit" to non-EU foreigners in Spain. We will develop the most important aspects in order that our readers can access the information easily and can answer their most important questions about the main requirements that must be met for the "Residence Permit" and the benefits it grants.
FACILITATING ENTRY AND RESIDENCE
The Act 14/2013 of 27 September, to support entrepreneurs and its internationalization, Title V, section 2 of international mobility, regulates certain cases where, for reasons of economic interest is facilitated and expedited the granting of "Residence Visas" and "Residence Permits".
There are different events by which you can access to the “Residence Permit” issued by the Spanish state on the basis of this Act, but the only case that allows to obtain a "Residence Permit" valid of residence and work, without the obligation to remain in Spain is that accorded to the "Investors".
Without prejudice to the accreditation of the specific requirements for each visa or authorization, foreigners must meet, not exceeding three months stay, the entry conditions laid down in the "Schengen Borders Code" and in cases of "Short-stay Visas", they must also certify the requirements of the" European Visa Code ".
For "Long-stay Visas" as well as for the "Residence Permit", the applicant shall prove compliance with the following requirements:
a) Not be illegally in Spanish territory.
b) Be over 18 years.
c) Have no criminal record in Spain and in the countries where it has resided for the previous five years, for crimes provided Spanish law.
d) Not be listed as rejectable in the territorial space of countries with which Spain has signed an agreement to that effect.
e) Having a public or private health insurance made with an insurance entity authorized to operate in Spain.
f) Have sufficient economic resources for himself and for members of his family during his period of residence in Spain. In 2015 these resources are set forth in 2,130 euros per month for the applicant and 532 euros for each family member who is in charge.
g) Pay the fee for processing the Permit or Visa.
The spouse or person with similar relationship, children under 18 or older than economically dependent on the holder has not established themselves a family unit and dependent ascendants that meet or go along with the "Investors" may apply Visa, and where appropriate the "Residence Permit", as long as they demonstrate compliance with the requirements laid.
In addition to meeting the requirements which are listed, the "Investors" must also comply with the Law on Prevention of Money Laundering and Terrorist Financing, and where appropriate, the corresponding Tax obligations or Social Security.
Non-resident foreigners who intend access the Spanish territory in order to make a significant capital investment may apply for "Short-stay Visa" or where appropriate the "Residence Visa for Investors", which will be valid for one year. The "residence visa for Investors" will authorize the residence of the holder in Spain without having to process the "Foreigner's Identity Card" (TIE), however applicants must be holders of Identity Number (NIE).
There are different situations in which you can access this type of visa and its subsequent "Residence Permit". We will develop the most requested course because it is the most economic, operational, pragmatic, and easy to manage over time. This postulate is processing the "Residence Permit" for those investors who invest in real estate a minimum amount of € 500,000 free of charges and taxes.
The applicant must show that they have taken ownership of real estate by domain and loads certification issued by the Land Registry corresponding to the property or properties. This certification shall include the amount of acquisition; otherwise, it must prove by providing the public deed, and in both cases it must have been issued within 90 calendar days prior to the request.
If the foreign has not completed the acquisition
of property or property but there is a preliminary contract with guarantee of
deposit or other means allowed by law formalized in public writing, must attach
the preliminary guaranteed contract coupled with a certificate from a financial
institution established in Spain in which it appears that the applicant has a
restricted the amount needed in a bank deposit to acquire, fulfilling the
commitment contract, the property or properties listed, including charges and
taxes. The amount of the deposit may only be used for the final purchase of the
property or properties specified in the preliminary contract with warranty. In
this case, the applicant will receive a
"Residence Visa" for investors, which will be valid for six months.
The granting of a “Residence Visa” for investors constitute sufficient title for the third-country nationals to reside
and work in Spain during its term, and will be valid throughout the
If the actual purchase of the property or
properties indicated is accredited coupled with the fulfillment of the tax
obligations and Social Security matters the applicant may apply for a "Residence
Visa" for investors of one year or "Residence Permit" for
The initial authorization of residence for investors will be valid for two years without prejudice to property purchases not formalized ("Residence Visa"). Once that deadline, those foreign investors who are interested in residing in Spain for a period exceeding may apply for renewal of the "Residence Permit" for successive periods of five years, provided that the conditions that generated the right are kept. Foreigners must maintain during the term of visas or permits the conditions that gave them access thereof.
The application or renewal of a "residence permit" extends the validity of the state of residence or stay which was held by the applicant until the procedure is resolved. It would also be extended in the event that the application is filed within ninety days after the end of the previous authorization, subject to the opening, where appropriate, the relevant disciplinary proceedings.
Without prejudice to the need to prove, under current legislation, the continuity of residence in Spain for the acquisition of the "Long-term Residence" or "Spanish Nationality", renewal of residence may be made even higher absences exist six months a year.
"Stay Visas” and "Residence Visas" will be issued by diplomatic missions and consular offices of Spain in the country of residence or origin of the investor under the provisions of the European Code of Visa and Regulation that refers to the movement of persons with "Long-stay visas".
The processing of "residence permit" shall be made by the Unit for Large Companies and strategic groups, and shall grant to the Directorate General of Immigration. The maximum resolution is twenty days from the filing of the application with the competent body for processing. If it is not resolved within that period, the authorization shall estimated due to administrative silence.
Law 14/2013 facilitates and speeds up visas and residence permits to all those non-Europeans, and their families, who meet the requirements set out in it, and in turn, make an investment exceeding € 500,000 free of charges and fees.
This is the only valid authorization to reside and work in Spain, without the obligation to remain in Spanish territory, which in turn keeps the tax residence of the investor in the place of actual residence.
Investors intending to enter Spanish territory in order to make a significant capital investment may apply for "Stay Visa" valid for six months.
If the actual purchase of the property or properties indicated is certified, and compliance with tax obligations and Social Security matters the applicant may apply for a "Residence Permit" for investors.
The initial authorization of residence for investors will be valid for two years and may be renewed for successive periods of five years, provided that the conditions that generated the right are kept.
"Visas" will be issued by diplomatic missions and consular offices of Spain in the country of residence or origin of the investor, the processing of "released Residence" will be made by the Unit for Large Companies and Strategic Collective, and its award shall the Directorate General of Immigration.
Do not hesitate to contact us if you have any questions or you need more accurate information, we will respond gladly.
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