New Entrepreneur’s Act (Law 14/2013, of 27 September):  visas and authorisation of residence for foreigners who invest in the property sector in Spain.

The new law permits non-residents intending to enter Spanish territory to make a “significant investment” of capital to apply for a resident visa for investors.

Specifically, investment is defined as, the acquisition of property in Spain with an investment value equal to or greater than 500,000 euros, per applicant.

The investment must be free of all charges and encumbrances, although charges on any part in excess of 500,000 euros are permitted and the investment may be in a single property or in various properties as necessary to reach the minimum amount required.

To obtain the visa, the applicant must prove that they fulfil the following general requirements for entry and habitual residence for non working foreigners:

  • Being in Spanish territory regularly,
  • Over 18 years of age,
  • No criminal record in Spain or in the countries where the applicant has resided during the previous 5 years,
  • Not being identified as extraditable in any country where Spain has signed an agreement in that regard,
  • Having public or private health insurance, and
  • Having sufficient financial resources for themselves and for their family members.


Also they must all prove that they have acquired ownership of the property by presenting the certification from the Land Registry relevant to the property or properties, issued no more than 90 days prior to submitting the visa application.

The investment may be made through a company, provided that it is not domiciled in a tax haven and that the investor holds a majority of the voting rights and has the power to appoint and remove the majority of the members of its administrative body.

The law also permits family members to benefit, as the applicant’s spouse, children under 18 years of age and dependent children of legal age may also apply for the visa.

The visa is valid for one year, with the possibility of renewing the residency by means of an additional authorisation of residence for two years, renewable every two years for as long as the initial conditions for the investment are maintained.