Amendments to the Law on Entrepreneurs

The amendments have been published in the Official bulletin on 29/07/2015

The main changes are:

Investor´s Visa

• Included within the beneficiaries are the ascending adults and sons/daughters of full age and the dependent partner.

• Introduction of the possibility of applying for a visa by an earnest money agreement

Residence Permit for Investors

• Can be applied for directly, without prior investor visa

Entrepreneurs

• A front desk is established.
• For the assessment of the business project will be taken into account especially the creation of jobs in Spain.

Procedural improvements

• The application for residence permits will extend the validity of the state of residence or stay which was held by the applicant pending the outcome of the procedure.

• The submission of the application for renewal will extend the validity of the authorization pending the outcome of the procedure.

Strengthening the maintenance control

• Foreigners must maintain during the term of visas or permits the conditions that were given to them when they accessed.

• Any affecting change should be communicated by the applicant to the Unit for Large Companies and Strategic Economic within 30 days.

• The competent authorities may conduct checks they deem appropriate to verify compliance.

• If non-compliance is verified, the body may terminate with reasoning (prior consultation) the visa or authorization.

 

Source: ICEX SPAIN EXPORT AND INVESTMENT