INVESTOR VISA IN SPAIN (I)

The Entrepreneurship Act was finally passed last September 28^th. Non-EU/ EEA citizens may now apply for an investor visa in Spain if they meet one of the following requirements:

1.- Buy real estate with a minimum value of € 500,000 (the first € 500,000 must be free of liens);

2.- Invest € 2 million in Spanish bonds;

3.- Invest € 1 million in shares of Spanish companies;

4.- Deposit € 1 million in a bank account;

5.- Undertake a business project of general interest to be executed in Spain. This project must meet at least one of the following conditions:

- Creation of jobs;

- Investment of socioeconomic impact in the region where it will be executed;

- Relevant contribution to scientific and/ or technological innovation.

The project must also receive the approval of the Spanish Economic and Trade Office nearest to the applicant in the form of a favourable report.

It is worth noting that the investment can also be executed through a company if the applicant holds the majority of voting rights. Finally, the investor visa allows for an initial residency of a 1 year period.