The Spanish investor’s visa is valid, initially, for
one year. The investor can apply thereafter for a residence
permit, which is valid for 2 years and renewable for 2-year periods.
Applicants that want to keep their residence after the initial term must travel
at least once to Spain.
In order to obtain
or renew the permit, the
applicant must fulfil the initial conditions when the visa was issued: ie,
maintain an investment of € 1 or € 2 million; be the owner of real estate
valued at € 500,000; maintain the investment project free of debts before the
Internal Revenue Service and Social Security and obtain a favourable report
form the Directorate General of Trade and Investment.
Finally, as a general rule, after a ten-year residence
period residents can apply for Spanish citizenship.
Citizens from Latin-American countries, Andorra, Equatorial Guinea,
Philippines, Portugal and of Sephardic origin just need a two-year residence
period.
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