Immigration news from AGM Abogados

The new residence permit for investors does not require a minimum residence time in Spain

Before the entry into force of the new Law 14/2013 for the Support to Entrepreneurs and their Internationalization and the emergence of the new visas and residence visas for investors, there were many other access roads to the legal residence visa in Spain for those citizens from third countries with the aim of establishing in the country as non-lucrative residents, for having their own means of livelihood or work permits. However, these stays did not permit leaving the Spanish country for more than 180 consecutive days or annual overall computation. If this case would take place, the residence visa would be automatically extinguished.

One of the most interesting innovations of the new visa and authorization of residence created with the Law 14/2013 is that there is not any minimum residence time in Spain in order to maintain the residence. With the investor visa, which has a one year validity, it is enough staying in Spain for 1 day to be able to request a residence authorization which will have a two-year validity and will be renewable for biennial periods regardless of how long the owner was outside Spain.

For this reason these kind of residence authorizations may be really attractive to those citizens from third countries who wish to be free to enter and move around the European territory (Shengen area) without having to require a tourist or business visa each time.

 

María Eugenia Blasco Rodellar

Director – Immigration

AGM Abogados – Barcelona

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