Foreign entrepreneurs can obtain residency permits for investing in real estate or in other types of assets in Spain. This is part of a broader Spanish law to support entrepreneurship and can be an opportunity for foreign investors, most notably non-EU nationals who meet the criteria for the initial investment as well as the value this investment brings to the Spanish market.
Investments with residency benefits in Spain
The Law on Entrepreneurs in Spain and Internalization was enacted in 2013 in an effort to increase investments and create a more attractive regime for foreign entrepreneurs, especially under new conditions such as gaining residency benefits following a substantial investment in the country.
The residency permit is awarded to those entrepreneurs who are able to maintain the investment throughout their residence in Spain. This type of residency permit can be renewed once every two years and will also grant residence and free movement to the applicant’s spouse and minor children.
The investment can be in real estate or in other types of assets. A condition for investments that refer to the incorporation of a new company in Spain is that they create new jobs, contribute to technological and/or scientific innovation and have a relevant impact on the Spanish market.
Requirements for obtaining the residency permit in Spain
Some situations in which a foreign entrepreneur can obtain a residence permit in Spain include:
- the purchase of real estate property with a value of at least EUR 500,000;
- an initial investment of at least EUR 1 million in Spanish company stocks;
- an initial investment of at least EUR 2 million in Spanish public debt securities.
Alternatively, investors can choose to open a company in Spain that complies with the innovation and job creation conditions described above. The project for the new company must receive a favorable approval from the relevant Spanish authorities.
Investors can explore the opportunities for obtaining the right to reside in Spain based on certain investments. Those looking for more information on advice on how to best proceed can talk to a local expert.