The Spanish Visa and Residence Permit Program Explained
It was on the 27th of September 2013 when the Spanish residence permit legislation came into effect.
As stated in Spanish Law (14/2013), nationals from third world countries, who are able to fulfil certain investment requirements, are allowed to enter freely and even live in Spain. In addition, it also allows free travel to other European countries like Schengen for up to 90 days every six months. This helps to avoid the existing waiting periods and administrative burdens.
There is no minimum amount of time that you need to spend in Spain according to the new legislation, which means that many investors can live outside of Spain while they benefit from having the freedom to travel and having Spanish residency.
Immigration regulations will be adapted to determine the procedures that need to be followed in order to get issued with residence permits and visas, for those who qualify.
Third world nationals can get a Spanish visa that is valid for a period of one year, which can be converted to a residence permit for a period of two years and it is possible to renew this permit for a further two years. The residence permit and visa can be requested for children and spouses (simultaneously or subsequently).
The General requirements
• You may not currently be living in Spain without a residence permit or visa.
• This type of program targets people such as investors, highly skilled individuals, entrepreneurs, researchers and to help intercompany transfer employees.
• You may not have any recorded prohibition issues in Spain or in other countries that Spain has made an agreement with in this regard.
• You need to be covered by a private or public medical insurance in order to operate within Spain.
• You may not be an EEA, Swiss or EU citizen.
• You may not have any criminal offences in any country that you have lived in for a period of five years before applying.
• You will need to have enough resources to support yourself while residing in Spain.
In order to receive a list of qualifying requirements for investors, it is advisable that you contact a representative at NWI who can assist you with all your needs. There are a number of different scenarios that could qualify you for this type of program. Speak to the professionals for the best advice possible.