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NEW RESIDENCY VISAS FOR NON EU FOREIGN IN SPAIN Article 58. Entry and stay in Spain for reasons of economic interest. 1. Foreigners who intend to enter or reside, or are already residing in Spain, will be facilitated their entry and residence in Spanish territory for reasons of economic interest under the provisions of this Section, in those cases in which they prove to be: a) Investors. b) Entrepreneurs. c) Highly qualified professionals. d) Investigators. e) Workers engaged in intra-company movements within the same company or group of companies. Article 59. General requisites for stay and residency

1. Together with proving specific requisites for each type of visa, foreign will need to meet, for stays no longer tan three months, those conditions for entry which are set up in Reglamento (CE) 562/2006, dated the 15th of March ( Schengen code) . 2. For stay visas, requisites to be proved are those of Reglamento (CE) 810/2009, dated the 13rd of July, on a Community Regime for Visas (Visas Code) 3. For residency visas of Reglamento (UE) 265/2010 and Reglamento (CE) 562/2006, the applicant needs to prove the following requisites: a) Not being in Spain in irregular status.

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b) Being older tan 18 years old. c) Not having criminal records in both Spain and those countries where the applicant have resided during the last five years, due to crimes included in the Spain Criminal Code. d) Not being classifiers as rejectable within the territory space of countries Spain has signed an agreement with. e) Having Public or Private Health Insurance hired with an authorized company in Spain. f) Having enough economic means for the applicant and members of the family for the time of residency in Spain. g) Paying the corresponding Visa management Fee. 4. Spouse and children under 18 years old, or major age who are not objectively capable of economic Independence due to health conditions, which are with those foreign of article 58.1, will be able to apply, jointly and simultaneously or successively, authorization and , if due, the visa permit. For this aim, all requisites of precedent number will have to be met. 5. This law is irrespective of fulfillment of obligations of Law 10/2010 dated the 28th in April, on Money laundering prevention, financiation of terrorism and social and fiscal duties. 6 Diplomatic Missions and Consulate Offices, when receiving applications for residency visa, will perform the corresponding research before the General Office of Police in Spain, in terms of safety risks of the applicant. General Office of Police will have to reply within seven days from application, after which, a favourable report can be assumed. Costa Luz Lawyers C/ Ancha 30, 3º - 11201 Algeciras - (t) +34 956.092.687 - (f) +34 956.092.697 mldecastro@costaluzlawyers.es – marialuisa@costaluzlawyers.es


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Article 60. Residence visa for investors.

1. Non resident foreign 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. Be understood as significant capital investment that it meets any of the following circumstances: a) An initial investment equal to or more than 2 billion Euros in Spanish government bonds, or purchase equal to or more than a million Euros in shares of Spanish companies, or bank deposits at Spanish financial institutions. b) Acquisition of real estate in Spain with an investment of equal or superior to EUR 500,000 per applicant. c) A business project that will be developed in Spain and is considered and credited as of general interest, for which the performance of at least one of the following conditions will be valued: 1º.Creating jobs. 2º.Making an investment with relevant socio-economic impact in the geographical area in which the activity will develop. 3º. Important contribution to scientific innovation and / or technology. Costa Luz Lawyers C/ Ancha 30, 3º - 11201 Algeciras - (t) +34 956.092.687 - (f) +34 956.092.697 mldecastro@costaluzlawyers.es – marialuisa@costaluzlawyers.es


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3. It will also be a significant capital investment when this is made by a company which is established in a territory which is not considered a tax haven according to Spanish law, and the applicant foreign owns, directly or indirectly, the majority of the voting rights and has the power to appoint or remove a majority of the members of the Company board.

Article 61. Investment Accreditation. For the grant of a residence visa for investors, these requirements will have to be met: a) In the case referred to in point a) of paragraph 2 of Article 60, the applicant must prove that they have made the investment of the minimum amount required over a period not exceeding 60 days preceding the application, through the following ways: 1.

In the case of investment in unquoted shares, document to be presented is the investment statement presented to the Foreign Investment Registry of the Ministry of Economy and Competitiveness. 2. In the case of investment in quoted shares, document to be presented is the certificate of the financial intermediary, duly registered with the National Securities Market or the Bank of Spain, which states that the person has made the investment in accordance to this Act. 3. In case of investment in government bonds, document to be presented is the certificate from the bank or the Bank of Spain where it is stated that the applicant is the sole owner of the investment for a period not less than five years. 4. In case of investment in bank deposits, document to be presented is a certificate of the financial institution in which it appears that the applicant is the sole owner of the bank deposit. Costa Luz Lawyers C/ Ancha 30, 3º - 11201 Algeciras - (t) +34 956.092.687 - (f) +34 956.092.697 mldecastro@costaluzlawyers.es – marialuisa@costaluzlawyers.es


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b) In the case referred to in point b) of paragraph 2 of Article 60 the applicant must prove ownership of real estate by providing one or more ownership certificates by the Land corresponds to the property or properties, dated within ninety days prior to the application. In the event that the acquisition of the property is in process of registration in the Land Registry, a certified copy of the Notary deed will be enough together with justification of this being presented for registration to the Land Registry within 60 days prior to application. The applicant shall prove to have real estate investment of 500,000 Euros free of any liens or encumbrances. The share of investment in excess of € 500,000 may be subject to liens or encumbrances. c) In the case referred to in point c) of paragraph 2 of Article 60, document to be presented is a favorable report on the business plan being of general interest. The report will be signed by the Economic and Commercial Office corresponding to the geographical area where the investor is submitting the application for visa. Article 62. Effects of residence visa for investors. The granting of a residence visa for investors is sufficient title to reside in Spain for at least one year. Article 63. Residence permits for investors. 1. Foreign investors wishing to reside in Spain for a period exceeding one year may be provided with residence

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permit for investors, which will be valid throughout the national territory. 2. To apply for a residence permit for investors, the applicant must meet the general requirements of Article 59 and the following requirements: a) To hold an in force residence visa or to be within ninety calendar days after the expiration of this. b) To have traveled to Spain at least once during the period allowed residing. c) In the case referred to in point a) of paragraph 2 of Article 60 the investor must demonstrate that the investment has remained equal to or greater than the minimum amount required: 1. ° In the case of unlisted shares, you must submit a notarized certificate proving that the investor has maintained during the previous reference period, ownership of the unlisted shares that empowered him to obtain a visa for investors. The certificate must be dated within 30 days prior to filing. 2. ° In the case of investment in quoted shares, you must present a certificate from a financial institution stating that the applicant has maintained at least on average one million Euros invested in listed shares during the period referenced above. The certificate must be dated within 30 days prior to filing. 3. ° In the case of investment in public debt, you must present a certificate from a financial institution or the Bank of Spain in which it is stated the maintenance or expansion during the previous reporting period, of the number of titles of public debt acquired by the time the initial investment was made. The certificate must be dated within 30 days prior to filing. 4. º In the case of investment in bank deposits, the investor must present a certificate from the financial institution to verify that the investor has maintained, or expanded,

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the deposit during the previous reference period. The certificate must be dated within 30 days prior to filing. d) In the case referred to in point b) of paragraph 2 of Article 60, the applicant must demonstrate that the investor owns property/ ies in Spain valued the minimum amount required under that Article. The investor will have to provide certificate or certificates by the Land Registry that corresponds to the property or properties and must be dated within 90 days prior to filing. e) In the cases referred to in point c) of paragraph 2 of Article 60, investor shall submit a favorable report from the General Directorate for Trade and Investment of the Ministry of Economy and Competitiveness, to find that the initial general interest of the project remains accredited. f) Compliance with the obligations before Tax and Social Security Departments.

Article 64. Duration of residence permit for investors. 1. The initial residence permit for investors will run for two years. 2. Having completed that period, those foreign investors who are interested in residing in Spain for longer than those two years may request renewal of the residence permit for investors for the same period of two years. Article 65. Entry and stay to start business. 1. Foreigners may apply for a visa to enter and stay in Spain for a period of one year with the sole or main purpose of carrying out the procedural formalities to develop entrepreneurial activity. Costa Luz Lawyers C/ Ancha 30, 3º - 11201 Algeciras - (t) +34 956.092.687 - (f) +34 956.092.697 mldecastro@costaluzlawyers.es – marialuisa@costaluzlawyers.es


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2. Visa holders provided in the previous section can access the residential status for entrepreneurs under this Section without having to apply for a new visa and without requiring a prior minimum period of stay, once it is proved it has been started the prior effective starting of business for which visa was obtained. Article 66. Residence for entrepreneurs. 1. Foreigners who are seeking entry to Spain or who are holders of a residence permit or residence visa or seeking to initiate, develop and direct economic activity as an entrepreneur may be provided with a residence permit for business, which will be valid throughout the country. 2. Applicants must meet the general requirements set out in Article 59 and the legal requirements for the start of the activity, which are set out in the relevant sectoral regulations.

Article 67. Definition of business and entrepreneurship activity. 1. Entrepreneurship is understood as that which is of special interest for innovative economic reasons for Spain and to this end it has a favorable report from the competent organ of the Central Government. 2. For this classification, it will be considered as a priority, the creation of jobs in Spain. It will also be taken into account: a) The applicant's professional profile. b) The business plan, including market analysis, product or service, and financing. c) The added value for the Spanish economy, innovation or investment opportunities. Costa Luz Lawyers C/ Ancha 30, 3º - 11201 Algeciras - (t) +34 956.092.687 - (f) +34 956.092.697 mldecastro@costaluzlawyers.es – marialuisa@costaluzlawyers.es


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Article 68. Highly qualified professionals. Companies requiring incorporation into Spanish territory of foreign professionals for the development of an employment or professional relationship included in any of the following circumstances may apply for a residence permit for highly qualified professionals, which will be valid throughout the national territory: a) Highly qualified or management personnel, when the company or group of companies meets any of the following characteristics: 1. º Average workforce during the three months immediately preceding the filing, of more than 250 workers in Spain, registered in the corresponding Social Security scheme. 2. º Annual net volume of business in Spain of 50 million Euros, or volume of equity of 43 million Euros. 3. º Gross investment annual average, from outside, not less than one million Euros in the three years immediately preceding the filing of the application. 4. º Companies with a value of the investor stock or position according to the latest data from the Foreign Investment Registry of the Ministry of Economy and Competitiveness higher than three million Euros. 5. º Belonging, in the case of small and medium-sized businesses in Spain, to a sector considered as strategic. b) Highly qualified or management personnel forming part of a business project involving alternatively, provided that the alleged condition based on this assumption are considered and credited, as of general interest: 1. º A significant increase in the creation of direct jobs by the company. 2. º maintaining of employment. 3. º A significant increase in the creation of jobs in the sector or geographical area in which they will develop the activity. Costa Luz Lawyers C/ Ancha 30, 3º - 11201 Algeciras - (t) +34 956.092.687 - (f) +34 956.092.697 mldecastro@costaluzlawyers.es – marialuisa@costaluzlawyers.es


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4. º An extraordinary investment with relevant socio-economic impact in the geographical area in which the company will develop the activity. 5. º The concurrence of reasons of interest to trade and investment policy of Spain. 6. º A significant contribution to scientific innovation and / or technology. c) Graduates, postgraduates from universities and business schools of great reputation. Article 69. innovation.

Training,

Research,

development

and

Foreigners who intend to enter Spain, or who are holders of a residence permit and residence, wishing to engage in training, research, development and innovation in public or private fields, shall be provided with the appropriate visa or a residence permit for training or research, which shall be valid throughout the national territory, in the following cases: a) The staff investigator referred to in Article 13 and the first additional provision of Law 14/2011, of June 1, Science, Technology and Innovation. b) The scientific and technical personnel to conduct scientific research, development and technological innovation, business entities, or R & D + I established in Spain. c) Researchers accepted in the context of an agreement by public research organizations and private, under the conditions established by regulation. d) Teachers employed by universities, agencies or institutions of higher education and research, or established business schools in Spain, according to the criteria established by regulation.

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Costa Luz Lawyers C/ Ancha 30, 3º - 11201 Algeciras - (t) +34 956.092.687 - (f) +34 956.092.697 mldecastro@costaluzlawyers.es – marialuisa@costaluzlawyers.es

New residency permits in spain  

New residency visas and permits for living and working in Spain Starting 29th of September 2013