Investor residency in Spain is an excellent way to settle down if you have the necessary financial means. This immigration procedure is included in Law 14/2013, which also includes other procedures such as the residence authorization for highly qualified professionals. Due to its characteristics, it is sometimes confused with a non-profit residence, but as we see in the following section on requirements, there are substantial and important differences. From Aema Foreigners we help you during the whole procedure from the Consulate to the collection of the card and subsequent renewals. In addition to offering you ancillary services such as negotiating with the authorized insurance company the conditions of the medical insurance.
The first thing to know before the advantages are the essential Spanish Investor Residency requirements that demand a strong initial investment. In practice this means that the investment must be 2 million euros in Spanish public debt, 1 million euros in shares or participations of Spanish companies, deposited in Spanish banks, venture capital funds or investment funds incorporated in Spain.
Another way to obtain an investor visa and residency is to create a company whose activity is oriented towards the technology sector. This route enjoys greater cooperation from the administration based on strategic criteria. Investments may also be focused on any other project whose implementation will have a positive impact on the generation of employment in Spain. In reference to the technology sector, what the administration is clearly seeking is to boost the global competitiveness of the Spanish economy by investing in innovative and disruptive projects. Unlike the previous cases, the law does not specify or fix a specific amount to be invested in order to implement a business that meets these characteristics. This does not mean that even if there is no minimum liquidity in bank deposits or similar, since objective criteria will be used to weigh the suitability of the project. The investor(s) must submit a detailed report on the business plan. It is necessary to reiterate that the profit motive or the income forecasts should not only have an impact on the welfare of the company’s partners but, as we have said, it is required that there be a positive contribution to the economy. For example, the hiring of groups at risk of social exclusion or the disabled would fall within this definition. In short, the forecast of the jobs generated directly and indirectly is essential for the approval of the project. Likewise, it is possible to invest by generating a business from the beginning or it is also possible to buy or invest in an existing business. In short, Law 14/2014 seeks either through visas or investor residencies or through intra-company mobility or hiring of highly qualified professionals to attract talent and capital necessary to improve the competitiveness of the Spanish economy.
Although the accreditation of the previous requirements demands a high liquidity to the applicant and/or a great exigency that is reflected in the issuance of a favorable MINECO report, the Investor’s residence also presents a series of advantages. Compared to the cheaper option of applying for a non-profit residency, it is important to know that the duration of the investor residency is always two years, as opposed to the one year granted by the initial non-profit residency. Likewise, investor residency authorizes work, which, as its name indicates, is forbidden for non-profit residency. It is topical to mention this fact because, in spite of the emergency and necessity of teleworking, the Spanish Administration is denying non-profit residence visas to people who work remotely. Last but not least, its renewal is not complicated as long as the conditions that gave rise to the concession are maintained. For tax matters in connection with the obligation to file or not to file a tax return, the period of residence in Spain, more than 180 days, and whether or not there is economic activity, must always be taken into account. Applicants must evaluate in relation to their economic capacity which option is more viable in their case, the investor residence or the non-profit one.
