Spain which is formally known as ‘’The Kingdom of Spain’’ is a transcontinental European country located in Southern Europe in a way that makes the country’s location very strategic, by projecting into the Mediterranean on one side and acting as an intersection on the path to Africa and America on the other, it one of the most attractive tourist destinations around the world due to its rich multicultural history, stable political system, enormous artistic heritage, hauntingly beautiful cities and year-round Mediterranean climate.
Spain is also considered a global destination for investment and enterprise creation, and a long-term safe environment for corporations to operate, many factors have attributed to this, such as market attractiveness and growth, the rapid development of the country’s infrastructure, the availability of work-force with relatively cheap cost, and the innovation ability which the government is encouraging, along with the favorable tax incentives and exemptions that the Spanish government grants for foreign entrepreneurs and businessmen.
Starting from 2013, as part of the enhancement strategies of the country’s development, and as a new step to attract foreign direct investment into the country, the Spanish law introduced the Entrepreneurial residency visa, which allows any Non-EU citizen to start and form a company in Spain, through engaging in innovative businesses of particular public interest to Spain, by means of job creation or the impact on the geographical area where it will be carried out, or by providing a relevant contribution to technological or scientific innovation.
Investors through this program will be able to obtain the Spanish resident permit which will be valid for one year, and then apply for 2 years renewals until they obtain the Spanish permanent residency after 5 years, as long as the business is still operating and all the conditions are met.
The Spanish residency will allow investors and their families to enjoy many benefits for such as the ability to live and work anywhere in Spain, the ability to access social benefits and the excellent educational and healthcare systems in the country, as well as the Visa-free access to various countries in the Schengen zone, such as France, Germany, Portugal and others, and it will also be a route to Spanish citizenship which they can apply to after 10 years.
It is important to note that the Spanish residency program through business investment has no minimum capital requirements as long as above conditions were met, it requires simple procedures and undemanding physical residency requirement of visiting the country once a year.
There are many other business and real estate investment opportunities in Spain and in Europe which construct long-term solutions and advantages for investors and their families, such as Spain Golden Visa and Cyprus Citizenship by Investment program.