| Updates on new regulations & investment in Spain |
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Marla Bojorge Author Copyright Legal updates Note: This lawfirm only follows law regulations and official communications. Marla Bojorge Law in support of Entrepreneurs and Internationalization 14/ 2013 NEW The new law regulates certain cases which, on the basis of economic interest, facilitates and expedites visas and residence permits, in order to attract investment in and talent to Spain. The measure is aimed at investors, entrepreneurs, workers engaged in an intrapreneurial move, highly qualified professionals and researchers, as well as spouses and older children, through an efficient and fast process under a single authority, and for a varying length of time depending on the specific case. Such residence permits shall be valid throughout the national territory. Facilitation entry and residence Entry and residence on the basis of economic interest -Applicants: those who can demonstrate that they are: a) Investors. b) Entrepreneurs. c) Highly qualified professionals. d) Investigators. e) Workers engaged in an intrapreneurial movement within the same company or group of companies. It does not apply to EU citizens or those foreigners who have the right under the EU to apply for the as beneficiaries of the rights of free movement and residence. Dependent relatives: The spouse and children under 18 years of age or older who are objectively unable to provide their own needs because of health, which join or accompany such foreigners -General requirements Demonstration of the specific prerequisites for each visa or permit. Compliance by such parties of the obligations established by the law on prevention of money laundering , terrorist financing and tax obligations or corresponding Social Security. Investors Residence visa for investors. 1. Nonresident aliens who intend to enter Spanish territory in order to make a significant capital investment may apply for entry visa, or if applicable, residence for investors . 2 . A Significant capital investment must meet the following cases : a) An initial investment equal to or greater than 2 million euros in Spanish government bonds, or worth equal to or greater than one million euros in stocks or shares in Spanish companies, or bank deposits at Spanish financial institutions. b) The acquisition of real estate in Spain with an investment of equal or greater than 500,000 euros per applicant. c) A business venture that will be developed in Spain and is considered and demonstrated to be in public interest, and for which it will fulfill of at least one of the following conditions: 1st. Job creation 2nd. An investment with relevant socio-economic impact in the geographical area in which the activity will develop. 3rd. An important contribution to scientific innovation and / or technology. Online meeting regarding the presentation of the new report of doing business in Spain. Vision from investors Closing remarks Excma. Sra. Dª Reyes Maroto, Ministra de Industria, Comercio y Turismo
Online meeting regarding the presentation of the new report of doing business in Spain. Vision from investors Closing remarks Excma. Sra. Dª Reyes Maroto, Ministra de Industria, Comercio y Turismo
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