Every one of our sales professionals are formed in the ethics of our profession, very knowledgeable about the different residential areas in Marbella and the market in general, and are hand chosen by me as caring professionals who can share our long experience with others.
The new Spanish law that grants residence to foreigners who invest in Spain has finally been approved as reflected in provisions 61 to 76 of Law 14/2013 of September 27th.
This section of the Law does not apply to citizens of countries members of the European Union or to those foreigners who benefit from right of free travel and residency in the EU.
To apply for the residence permit/visa the following requirements must be fulfilled:
The applicant must:
Spouses, under aged children or children over the age of 18, who due to health reasons are evidently not capable of taking care of themselves, are traveling with the applicant and conform to the conditions set above may apply for the permit at the same time as the principal applicant.
Once the visa/permit application is received by the Consulate or diplomatic office of Spain in the country of origin -where the application must be submitted- the Spanish Police will be requested to issue a report evaluating the risk of the applicant of being a threat to the security of the country. Upon receipt of such request, the Police have seven (7) days to issue said report and if they fail to do so within that period, a favourable response will be considered by default.
Due to economic interests, the Spanish Government will grant entrance and residence visas/permits to foreigners and non-EU residents as explained above and who fall into one of the following categories:
Required initial investment should be equal or greater than:
a) 2,000,000 EUR in Spanish public debt
b) 1,000,000 EUR in shares of Spanish companies
c) 1,000,000 EUR in Spanish financial institutions
d) 500,000 EUR in real estate in Spain, free of liens and encumbrances. The investment exceeding such amount may be subject to liens and/or encumbrances
e) Development of a business project considered of general interest, fulfilling at least one of the following criteria:
The residence visa for investors will have a validity of “at least” one year. Requirements for the renewal of the residence permit/visa for the following period are:
A foreigner can apply for a 1 year residence visa for Spain, when the only or main purpose is the development of an entrepreneurial or business activity.
The holders of these residence visas may apply for a residence permit for entrepreneurs without requesting a visa and without the need of a minimum previous stay in Spain, and must be able to prove that effective business activity had already been started for which the visa was applied for in the first place.
Those foreigners that request the entrance permit for Spain or that already have a valid visa or residence permit and are seeking to initiate, develop and manage entrepreneurial businesses in Spain, may be provided with a residence permit for a business activity.
Entrepreneurial or business activities are those with innovative strength, are of special economic interest to Spain and must be positively evaluated in the administration’s reports, for which the following criteria will be taken into account:
Residence visas will be granted to managers or highly qualified professionals, provided that the applying company fulfils one of the following conditions:
Residence visas will be granted to graduate and postgraduate professionals from renowned universities and business schools.
Residence visas will be granted to foreigners for research, development and innovation, as well as for education, which will be subject to certain technical formalities.
Residence visas will be granted to foreigners due to intra-company re-location provided the following criteria are met:
Mauro Cruz-Conde
CRUZ-CONDE & ASOCIADOS
[email protected]
www.cruz-conde.com