On September 27th 2013 the Spanish Government published the new law “Ley 14/2013, de 27 de septiembre, de apoyo a los emprendedores y su internacionalizació” creating a new kind of visa and residence permit for investors, also known as Golden Visa.

The objective of the law is to attract entrepreneurs to Spain, and stimulate foreign investment in Spanish real estate, public debt, and job creation.

The key points of the draft law are summarised in this section.

1. The Investment

Eligible applicants for such visa and/or residence permit are non-resident investors who have made any of the following investments in Spain:

a) An investment for:

– a value of more than 2 million euros in Spanish public debt (bonds);

1 million euros in any type of business or company or in a bank deposit in a Spanish financial entity.

b) Purchase of Spanish Real Estate of at least 500.000€ (co-ownership is allowed).

c) A business project in Spain leading to job creation, local economic development or scientific/technological innovation.

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2. Golden Visa and the Residence Permit

The initial Residence Visa in Spain is originally issued for 1 year, enabling to enter and stay in Spain for a maximum period of 1 year and with no minimum stay required.

The temporary Residence Permit is then renewed for 2 successive periods of two years,
provided that the requirements of the investment activity are maintained.

The decision to grant a Spain Residence Permit must be taken by the competent authorities within 10-20 days 
after the submission of the application, which must include evidence that the financial or real estate investment
has already been completed.

This information is for general reference only, and should not be used as substitute for professional legal advice. Feel free to ask our lawyers for more information at the contact details mentioned below.

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