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Spanish immigration authorities announced new criteria to obtain permits regulated by the Entrepreneur’s Act.
Key Points:
Additional Information: The Entrepreneur’s Act 14/2013, established Sept. 27, 2013, aims to facilitate the establishment and internationalization of entrepreneurial ventures and offers a longer residency period and a faster resolution process. Foreign nationals who wish to enter Spain to make a significant financial investment may apply for a residence visa for investors to facilitate the establishment of businesses, particularly those with innovative projects.
BAL Analysis: The Large Companies Unit of Spain’s immigration authority has started to apply new criteria to permits regulated in the Entrepreneur’s Act. Employers should be aware of this change of practice and factor additional document acquisition time frames into employment strategies.
This alert has been provided by the BAL Global Practice Group.
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