With the goal of reactivating the Spanish economy, Spanish Congress enacted law 14/2013 of September 27 in support of entrepreneurs. One section of this law is addressed to investors coming from outside the European Union who might choose among the following types of investment:
- Initial inverstment of at least 2 million euros in Spanish Debt Bonds or at least 1 million euros in capital transfer into the banking system or Spanish companies;
- Purchase of real estate of at least 500,000 euros;
- Creation of a business venture leading to job creation, local economic devolopment, or contribution to scientific or technolog innovation.
These investors must meet the following criteria:
- Must not be ilegally in Spain;
- Must be older than 18 years old;
- Clean criminal record;
- Must not be inadmisible;
- Must have health insurance;
- Sufficient economic resources to support all the family members during the residency time in Spain.
The initial residency permit will have a valid duration of one year. Two subsequent extensions of two years each will be allowed.