Residence permits for foreign investors – Practical Issues (I)

Residence permits for foreign investors – Practical Issues (I)

The Law on Support to Entrepreneurs provides for the possibility of granting a residence visa to foreigners who acquire real estate in Spain for a value equal to or greater than 500,000 €. Although it seems clear, in practice doubts often arise about its interpretation, some of which we try to clarify in this article and the following ones:

Investment in multiple properties

First, the investment can be made by the purchase of one or more properties, provided that the total amount invested is equal to or greater than 500,000 euros.

Acquisition of a share of a property

Second, the investor must acquire 100% of the property or properties.That is to say, it is not useful for the purpose of obtaining the visa or residence permit as an investor, the acquisition of a percentage of ownership of a real estate, even if the value of the participation exceeds 500,000 euros.

Acquisitions made by marriages

In the event that the acquisition is done by a marriage in community of property or alike system, if the investment is higher than one million euros, both spouses may apply for and obtain a visa or residence permit as investors.

If, on the other hand, the acquisition price is higher than 500,000 € but less than 1,000,000, the investment will be considered as having been made by one of the spouses, the other being able to apply for the visa or permit as a relative.

Purchases made by companies

Finally, you can also apply for a residence permit abroad when the investment is made by a company which holds a majority of voting rights, as well as the power to appoint or remove a majority of the members of its board.This option is only admissible if the company is domiciled in a territory that does not have the status of tax haven.

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