Residence permit and work permit in Spain

The publication of Law 14/2013 of 27 September on entrepreneur support and internationalisation, amended in 2015 by Law 25/2015 of 28 July on second chance mechanisms, introduced major changes in the field of residency procedure, speeding up the application procedures for residence permit and work permit in Spain.

Advantages – residence permit and work permit in Spain

This law has several advantages compared to Immigration Law, as it establishes a number of more flexible requisites in residence permit and work permit applications in Spain, including quicker resolution periods and allowing permits to be extended to the applicant’s family.

Requirements – residence permit and work permit in Spain

This law is aimed at foreign persons who have the intention of living in Spain and who meet one of the following requirements:

1. Investors: Foreign persons through this channel can obtain a residence permit and work permit in Spain, on the grounds of economic interests, provided they make a significant investment:
   • In Stocks: They must make an initial investment equal to or exceeding:
     • 2,000,000 euros in Spanish public debt securities.
     • 1,000,000 euros in stocks or shares in Spanish capital companies with actual business activity.
     • 1,000,000 euros in general investment funds, closed-end investment funds or venture capital funds incorporated in Spain.
     • 1,000,000 euros in bank deposits in Spanish financial entities.
   • In Real estate: Acquisition of real estate in Spain entailing an investment of over 500,000 euros free of charges and tax.
   • In a Business project: It must be a project that is going to be developed in Spain and that is considered to be of business interest, which entails assessing whether or not jobs are created, an investment is made with social-economic relevance in the geographical area in which the project is undertaken or it involves a significant contribution to scientific and/or technological innovation.
2. Entrepreneurs: applicants will have to undertake an innovative business activity with special economic interest for Spain.
3. Highly qualified professionals.
4. Researchers.
5. Workers that participate in internal transfers within the same company or group of companies.

If you would like to know which channel is best for you in obtaining a residence permit and work permit in Spain, please contact us.

Teresa Abril

Arintass

Corporate Consultants