Spain: your partner in Europe
International mobility – New legal framework
Residence & Working VISAS for investors, entrepreneurs and
Executives & Qualified Professionals.
* The information included in this presentation has been adapted for commercial purposes and therefore it is
without prejudice of the applicable legal framework.
ICEX Spain Trade and Investments, support for Russian investment in Spain
ICEX-Spain Trade & Investment is a company owned by the Government, under the
Secretary of State for Trade, Ministry of Economy and Competitiveness.
INVEST IN SPAIN is the Directorate in charge of attracting foreign direct investment.
Among its main activities are:
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Promoting, attracting and maintaining foreign direct investment in Spain.
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Incentives and financing of investment in Spain: Information and Advice on legal,
technical and market areas, sector guides, tax, immigration, administrative
procedures, grants and subsidies applicable to investment projects, etc…
Personalized advisory service.
•
Assistance with the establishment of foreign companies in Spain: site location.
•
To be the benchmark for foreign investors and the meeting point between companies
and institutions in the State, Regional and Local levels.
•
Spain as a Global Business platform for International Investment.
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Business Climate: fostering investment and facilitating doing business in Spain.
Our Network: The Economic and Commercial Offices of the Embassy of Spain.
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NEW LEGAL FRAMEWORK
New Law on Support of the Entrepreneurship and its Internationalization
came in force last September 2013:
This new Law facilitates and accelerates visa and residence authorizations
concessions to investors, entrepreneurs and highly qualified professionals,
fostering:
International mobility of professionals and investors to Spain
Attraction of foreign investment and talent in order to improve the
competitiveness and innovation capacity of companies located in Spain.
New legal framework: SUMMARY
It is based on an agile and specialized system for visa and authorization concessions.
VISA AND AUTHORIZATION CONCESSIONS
FOR
Investors
Entrepreneurs
Highly qualified professionals
Scientists and researchers
Intra-corporate transferred employees
GENERAL REQUIREMENTS
THE PROCEDURES
Not being in an illegal situation in Spain
10 days for visas and 20 days for authorizations
Being 18 years old or older
A single authorization for living and working in Spain
Not having criminal records
Valid for the whole of Spain
Public or private health insurance in Spain
The family will be able to apply at the same time
Enough economic resources.
Benefits of the Schengen visa: freedom of movement
within the member states
Freedom to live in Spain: Granted residence and work permits authorization
Source: http://extranjeros.empleo.gob.es/es/UnidadGrandesEmpresas/folletos/index.html
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I. Investors Visa and Residence Authorization:
1. Real Estate Investors
2. Investors in Spanish companies and bank deposits
3. Investors in special interest projects in Spain
4. Investors in Spanish public debt
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I. INVESTORS VISA AND RESIDENCE AUTHORIZATION
1. HOW:
Directly or through a company owned by the investor:
- Not registered in a tax haven
- The investor must have the majority of the company’s voting rights
- The investor must be able to appoint the majority of the members of the
Management Board.
2. PROCESS:
1. VISA (at the
Consulate)
2. AUTHORIZATION
(in Spain)
1st step: Applying for an investor visa and 2nd step: Applying for an investor authorization
1. Visa: it allows its holder to enter and stay in Spain for a maximum period of one year.
2. Residence authorization: valid for two years, it is renewable, provided that :
- The investment is maintained
- The investor visits Spain at least once during that period
The visa/authorization holders do not have to stay a minimum period in Spain.
Nevertheless, they can choose to have continued legal and tax residence. In this case, after
five years, they will be able to apply for a long-term residence authorization.
I. INVESTORS VISA AND RESIDENCE AUTHORIZATION
3. DOCUMENTS:
• Application form and fees.
• NIE number (Foreigners Identification Number): if the applicant does not have a
NIE number yet, he will have to apply for it when applying for the visa.
• Documents showing that general requirements are fulfilled:
Valid passport, medical certificate, police records
Health insurance
Proof of economic means
• Specific documents depending on the type of investor
4. WHERE:
Visa: At the Spanish Consulate located in the residence area of the foreigner.
Authorization: Ministry of Employment and Social Security (Spanish Unit for Large
Companies in Madrid), directly or by a duly accredited representative.
5. HOW LONG:
Visa: The process will be resolved in maximum 10 days.
Authorization: The process will be resolved in maximum 20 days.
I.-1. REAL ESTATE INVESTORS IN SPAIN
WHO?
Foreigners who make an investment in Real Estate goods in Spain that are worth 500,000 € or
more:
- The investment must be net of charges and taxes
- The investment may consist of one or more Real Estate goods
- Any type of Real Estate good will be applicable: housing, office buildings, hotels, etc.
- There can be more than one applicant for one investment: each 500,000 € (net of
charges and taxes) entitles to apply for an investor visa and authorization
Specific documents for this type of investors:
Visa (evidence of having made the investment):
Certificate of the Property Registry and deed of the Real Estate’s sale.
Authorization (evidence of having maintained the investment):
Certificate of the Property Registry, dated maximum 90 days before the application is
submitted.
I.-2. INVESTORS IN SPANISH COMPANIES AND BANK DEPOSITS
WHO?
Foreigners who make an investment of minimum 1 Million € in:
-Spanish companies listed or not listed in the Stock Exchange
- Spanish bank deposits
Specific documents for this type of investors:
Visa (evidence of having made the investment):
- Investment in Spanish companies listed in the stock exchange: Certificate of the financial
intermediary.
- Investment in Spanish companies not listed in the stock exchange: Investment declaration of the
Foreign Investments Registry (Ministry of Economy and Competitiveness).
- Investment in Spanish bank deposits: Certificate of the financial entity stating that the applicant is
the only title holder of the bank deposit.
Authorization (evidence of having maintained the investment):
- Investment in Spanish companies listed in the stock exchange: Certificate of the financial
intermediary stating that at least 1 M. € average investment has been maintained . The certificate
must be dated maximum 30 days before the application is submitted.
- Investment in Spanish companies not listed in the stock exchange: Certificate of a notary public
stating that the investment has been maintained. The certificate must be dated maximum 30 days
before the application is submitted.
- Investment in Spanish bank deposits: Certificate of the financial entity stating that the applicant has
maintained or extended the amount. The certificate must be dated maximum 30 days before the
application is submitted.
I.-3. INVESTORS IN SPANISH PUBLIC DEBT SECURITIES
WHO?
Foreigners who make an investment in Spanish public debt securities that is worth 2 M. € or more
(net of charges and taxes).
Specific documents for this type of investors:
Visa (evidence of having made the investment):
Certificate of the financial entity or Banco de España stating that the applicant is the
only holder of the investment during a period of minimum 5 years.
Authorization (evidence of having maintained the investment):
Certificate of the financial entity or Banco de España stating that the applicant has
maintained or extended the investment. The certificate must be dated maximum 30
days before the application is submitted.
I.-3. INVESTORS IN SPECIAL INTEREST PROJECTS IN SPAIN
WHO?
Foreigners who make an investment in business projects in Spain considered to be of public
interest reasons. Such projects must either:
- Create jobs in Spain
- Have an important socio-economic impact in the geographical area in which the
employment activity is to be carried out
- Have a significant contribution to scientific and/or technological innovation
PROCESS
1. FAVORABLE
REPORT
(Economic and
Commercial
Office)
2. VISA (at the
Consulate)
3. AUTHORIZATION
(in Spain)
1. Visa: it allows its holder to enter and stay in Spain for a maximum period of one year.
2. Residence authorization: valid for two years, it is renewable if requirements are fulfilled.
Specific document proving the investment: Favorable report of the Spanish Economic and
Commercial Office in the country of residence of the applicant.
I.-3. INVESTORS IN SPECIAL INTEREST PROJECTS IN SPAIN (2)
FAVORABLE REPORT
Where should the investor apply for it?
Prior to applying for the visa, the report must be applied for in the Spanish Commercial and
Economic Office located in the same area as the Consulate where the foreigner resides.
MIAMI
2655 LE JEUNE ROAD SUITE 1114 CORAL
GABLES FL 33134
Which documents are to be submitted for the application?
The Company’s Business Plan, in particular:
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•
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Professional profile of the investor
Activity to be developed
Scientific or technological innovation, where applicable
Jobs positions to be created: number, characteristics and required qualifications
Geographical area where the project will be developed
Investment amount
Origin of the investment (equity, financing, etc.)
II. Entrepreneurs Visa and Authorization
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II. ENTREPRENEURS VISA AND RESIDENCE AUTHORIZATION
WHO?
Foreigners who would like to develop their own business activity in Spain, that must be
an innovative activity with special economic interest for Spain.
PROCESS
There are two possibilities:
1) If the entrepreneur is abroad
1st step: applying for an entrepreneur visa at the Spanish Consulate, in order to
enter and stay in Spain a maximum period of one year in order to make the
arrangements to set up business activity in Spain .
2nd step: applying for an entrepreneur residence and working authorization in
Spain, valid for two years, which is renewable if requirements are fulfilled.
2) If the entrepreneur is already in Spain in a legal situation
He must apply directly for an entrepreneur authorization in Spain. It will be valid for
two years and is renewable if requirements are fulfilled.
1. FAVORABLE
FAVORABLE
FAVORABLE
REPORT
REPORT
REPORT (Spanish
(Spanish and
(Economic
Economic and
Economic and
Commercial
Commercial Office)
Commercial
Office)
Office)
VISA
(Consulate)
ENTRY IN SPAIN
II. ENTREPRENEURS VISA AND RESIDENCE AUTHORIZATION
FAVORABLE
REPORT
(Economy and
Competitiveness
Ministry)
SETTING-UP OF
BUSINESS IN SPAIN
Maximum 1 year
RESIDENCE
AUTHORIZATION
(Ministry of
Employment and
Social Security)
The entrepreneur does not
need to go back to residence
country after setting up the
company to obtain the
residence authorization
III. Companies hiring the following foreign
employees:
1. Executives and highly qualified professionals
2. Employees that are transferred to Spain (intracorporate transfers)
3. Scientists and researchers
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III.-1. COMPANIES hiring employees: EXECUTIVES AND HIGHLY QUALIFIED PROFESSIONALS
The companies wanting to hire foreign employees can apply for this authorization (valid
for the whole of Spain) in any of the following cases:
1) Executives and highly qualified professionals of a company or group of companies
that fulfill any of the following requirements:
An average staff of more than 250 employees in Spain.
An annual net turnover in Spain exceeding €50 million.
An equity or net assets value in Spain exceeding €43 million.
An annual average gross investment volume from abroad of a minimum of €1 million in the
three years immediately before submission of the application.
Companies with an investment stock value over 3 M €.
2)
Executives and highly qualified professionals of SMEs belonging to a Strategic
Sector.
3) Executives and highly qualified professionals of a business project in Spain that
represents either:
4)
A significant increase or maintenance of employment within the company, the activity sector
or region where the activity is to be carried out.
A project fostering the economic activity in the region.
Interest reasons for the trade and investment policies in Spain.
A significant contribution to scientific and/or technological innovation.
Graduates and post-graduates from renowned Universities or Business Schools.
III.-2. COMPANIES hiring employees: INTRA-CORPORATE TRANSFERS
Companies or group of companies that would like to transfer to Spain one or more foreigners
in the framework of a labor or professional relationship or to develop professional
training.
The company may be set up in Spain or in another country.
Requirements:
• There must be a real business activity and company or group of companies.
• The foreigner must have a Graduate Degree or minimum 3 years of work experience.
• There must exist a previous and continuous labor or professional relationship of at least 3
months with one or several companies of the group.
• Providing documents of the company in which the transfer is accredited.
The process will be resolved in maximum 20 days.
III.-3. COMPANIES HIRING EMPLOYEES: SCIENTISTS AND RESEARCHERS
Private and public companies and other entities wanting to hire foreign employees
developing training, research, development and innovation activities. They must be,
either:
Research staff
Scientific and technical staff: developing scientific research, development or
technological innovation activities
Researchers working in a research organism, in the framework of an
agreement
Universities or business schools teachers
The process will be resolved in maximum 20 days.
ICEX-Invest in Spain
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How can ICEX-Invest in Spain support a foreign company or individual with
regard to immigration issues?
• Advice about the most appropriate way (quickest and easiest) to obtain their
residence or residence and work permits.
• Advice about how to open a subsidiary, branch, acquire a company, etc.
• Services for foreign companies already operating in Spain in order to answer
legal doubts in connection with work and residence permits
• Act as the institutional contact for companies towards all Spanish entities
engaged in the process, such as the Spanish Embassy and Consulates abroad,
Spanish Ministry of Employment and Social Security, Foreign Affairs Ministry,
Regional Immigration Office, etc.
Thank you for your attention.
6. ICEX-Invest in Spain
To request our free and
confidential services, please visit
www.investinspain.org
Orense 58, 3rd floor
28020 Madrid SPAIN
T (+34) 91 503 58 00
E-mail: [email protected]
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