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SPAIN:

The "Act for Entrepreneurs" regulation took effect on September 30, 2013.

The Act for Entrepreneurs and its internationalization was published in the BOE (Spanish Official Gazette) on September 28, 2013, and took effect September 30, 2013.

The regulation is intended to facilitate the entry and stay in the country for economic reasons of foreign nationals seeking to enter, reside, or remain in Spain provided they belong to one of the following groups:

Investors:

Two million euros in public debt securities, 1 million euros in shares of Spanish companies or bank deposits in Spanish financial entities

Real estate with a value equal to or over €500,000 free of all liens and encumbrances

Business project carried out in Spain and considered of general interest justifying one of the following circumstances:

  • Creation of jobs
  • Investment with a substantial socioeconomic impact in the geographical area where the activity will be carried out
  • Significant  contribution to scientific and/or technological innovation

Entrepreneurs:

Entrepreneurial activity includes innovation with a special economic interest for Spain and based on a positive report from the central government

Highly Qualified Professionals

Managerial staff or highly qualified personnel if the company or group of companies meets one of the following requirements:

  • An average staff of more than 250 employees in the three months before the submission
  • Annual turnover over €50 million, total equity or shareholders' equity over €43 million
  • An average gross foreign investment of €1 million within the last three years
  • Stock value or position over €3 million
  • Company operating in a strategic sector

Managerial staff or highly qualified personnel involved in a business project of general interest and in which one of the following circumstances are met:

  • Direct increase in employment
  • Maintenance of positions
  • Significant increase in jobs in the sector of activity or geographical area in which the activity will be carried out
  • An extraordinary investment with a socioeconomic impact within the geographical area where the activity will be carried out
  • Grounds of interest for the trade and investment policies of Spain
  • Substantial contribution to scientific and/or technological innovation

Graduates and post-graduates from leading universities and business schools

Reseachers

Research staff included in section 13 of the first additional provision of Act 14/2011

Scientific and technical personnel to conduct works of scientific research, development, and technological innovation in companies or R&D centers

Researchers participating within the framework of an agreement by public or private research organizations

Lecturers of universities, bodies or institutions of higher education, and research or business schools established in Spain

Intra-Company Transferees

Foreigners who are transferred to Spain within the framework of an employment or professional relationship or for professional training purposes with a company or group of companies established in Spain or abroad

The following must be shown:

  • Existence of a real activity and business group
  • A university degree or equivalent or an experience of at least three years
  • Prior employment or professional relationship within companies of the group for a period of three months
  • Documentation of the company justifying the transfer
  • Accompanying spouse or children under 18 years or children of legal age who are not able to meet their needs due to their health condition

The consulates adjudicate visas related to all of these applicants within 10 business days, and the "Large Companies Immigration Office" processes the residence applications within 20 days.

The temporary residence authorization under this Act is processed under the provisions established in the EU directive 2011/98 (single permit).

The labor market test is not applicable. 


 

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