Spain is an ideal location for doing business and for residence in Europe with its lifestyle, healthcare system and recognized business advantages. As a member of the European Union, Spain offers a number of benefits to its residents including a high standard of living, reasonable housing prices, good standards of healthcare, good business environment, education and reasonable living costs. That is why Spain is a popular business immigration jurisdiction, Therefore, Spanish business visas remain to be in high demand among non-EU foreigners intending to start their business in Europe. The main advantage of the Spanish business visa is that the Spanish business visa allows foreigners starting up a business in the EU and being in Spain and the Schengen area countries with minimum restrictions.
A foreign businessmen intending to start their business in Spain or to acquire residency usually applies for the short-term visa or seek an investment visa. Each of them has its own benefits.
Short-Term Spanish Schengen Visa
Generally speaking, Spanish visas might be single-entry, dual-entry and multiple-entry visas. A foreigner travelling to Spain is issued a Schengen visa depending on the type and purpose of its visit and the foreigner‘s individual needs.
If you are engaged in any lawful activity in Spain and are seeking for a business visa, the Spanish business visa may be obtained by a foreign applicant whose permanent place of residence is abroad and who visits the Kingdom of Spain from time to time for purposes of work or business matters. In this case, the visa (D type) is issued for a period not exceeding one year. This type of visa provides the standard advantages of any Schengen visa does plus the advantages of Spanish business environment.
However, if a foreigner thinks about more serious investment into Spanish economy and long-term stay or permanent stay in the country, the Spanish government created an instrument allowing a residence permit for foreign entrepreneurs who want to invest in Spain.
What is Spanish investment visa
- Spanish business investment visa is one of the business visa types for investors and is a real benefit for foreign investors in Spain. It is also called the Spanish golden visa as it is designed to attract large foreign investors and offer them some privileges.
- Spain first presented the Golden Visa scheme in 2013 in order to support foreign entrepreneurs and seeking for economy internationalisation. The main objective of the golden visa programme was to promote the development of Spanish economy, to attract investors and to support the creation of new jobs in the country. This visa is designed for those seeking to invest large amounts of money in a new or already established business in Spain. These type of visa extensions are usually unlimited as long as the entrepreneur continues its investment. The Spanish Golden Visa programme has become in some sense a gateway to Europe for many non-EU applicants seeking for European residency or European business market. In 2015, the law was modified to better tailor it to the current needs of international business, and families of
The Spanish golden visa program offers a real estate investment or other large amount investment route to gaining residency or even citizenship in Spain. It does not require a minimum stay in the country, but the minimum requirement of an investment of as much as €500,000 in Spanish real estate is necessary. It is important to commit the investment prior to applying for the visa. The visa is also open for foreign businessmen who create and develop a new project that is considered of general interest because it results in new jobs, and has a considerable positive regional socio-economic impact in the country, or is related to some scientific innovation and/or technology.
- However, to make an investment is not enough for golden visa programme. In addition to the investment, investors need to have no criminal record and must provide the proof that they have not previously been refused visas or entry into the Schengen zone. Moreover, appropriate medical insurance recognized in Spain and sufficient financial means to cover your stay in Spain must be presented.
For entrepreneurs and investors who qualify the requirements prescribed by law, getting a Spanish investor visa is a good and quick route to obtaining a privileged Spanish residency and work permit. The above-mentioned business visa has a number of advantages for its holders.
First, it is a flexible instrument requiring no permanent presence in the country.
Second, it allows the non-EU investor to travel freely throughout Europe (Schengen) and to work in any part of Spain without any requirement to the visa to reside in Spain in order to retain and renew the residency permit.
Third, after five years, it is possible to obtain permanent residency, and after ten years, the non-EU foreigner has a possibility to apply for Spanish citizenship.
Finally, the investor has an opportunity to reunite with his family. That means that the foreign investor can apply for the same permit for his spouse, domestic partner, children and dependent ascendants so that the whole family can reside and work in Spain. In 2015, the law was modified to include family members over the age of 18 that are dependent on the investor as beneficiaries from the visa. This includes children over 18-years-old who are financially dependent on the holder and have not formed a family unit for themselves. Generally, immigrants‘ children can become a part of the Spanish educational system.
Where to get a Spanish business visa?
The procedure is almost similar to acquiring visas of other countries. A foreigner wishing to get a Spanish business visa should apply to a diplomatic mission or a consular post of the Kingdom of Spain abroad or the same institutions in any other Schengen State. When filing a visa application or applying for a visa extension, it is necessary to present relevant documents, to provide necessary information and to specify the term of visa validity. The standard business visa processing time is usually may take up to 4 weeks.
As to the Spanish golden visa, the applicant needs to make an appropriate investment prior to applying for the visa. An application can be made as soon as the contract for purchase and sale has been signed. The funds for the finalizing the transaction must be ready for investment in a bank account in Spain. The Golden Visa process may take about 20 days. The Spanish Golden Visa can then be renewed for a further five years provided the foreigner‘s investment is maintained.
Refusal to Issue a visa
Despite a number of advantages, the Spanish business visa offers to a foreign applicant, it is often difficult for a foreigner to fulfil all the formalities necessary to get or to extend the Spanish business visa. Moreover, all documents must be executed in the Spanish language. That is the reason why foreigners often make mistakes and can be disappointed when the Embassy does not satisfy the foreigner‘s application and refuses to issue the Spanish business visa. If this is the case, there is always an opportunity to appeal the inappropriate decision. The appeal can be filed and submitted directly to the Embassy.
In its turn, the arrangement of an appeal requires special knowledge and knowledge of Spanish language as well. In such a case it is highly recommendable to find a Spanish professional immigration lawyer and/ or consultant.
The local company of professionals may provide you assistance with Spanish business visa as well as with the investment visa, and to prepare required documents or to imitate legal procedure against the Embassy. The price of our services, including preparation of documents, and professional advice is usually agreed with the client on an individual basis. The services of professional come with a cost, but it still better to invest in professional consultation first and then enjoy the benefits of Spanish business environment without restrictions than to pay for mistakes later which often cost much more.