Investor visa

December 27, 2024

IMPORTANT NOTICE:

On January 3rd, Organic Law 1/2025 on measures regarding the efficiency of the Public Justice Service was published in the BOE, which in its twenty-first final provision eliminates articles 63 to 67 of Law 14/2013 (Law of Entrepreneurs).
As of the entry into force of said twenty-first final provision on April 3rd, residence visas for investors are abolished.
Those investors or relatives of investors who, prior to the date of entry into force of said provision, had submitted the corresponding application, may receive the corresponding visa or authorization in accordance with the regulations in force on the date of submission of the application.
Visas and authorizations for investors that are valid on the date of entry into force of said provision will retain said validity for the time for which they were issued. 

GENERAL INFORMATION:

Short-stay or residence visa for foreigners making a significant capital investment, understood as:

The purchase of unencumbered real estate for a minimum of 500,000 Euros, (if the investment is made by a couple married in community of property, one of the spouses may obtain an investor visa, and the other spouse, a visa as a family member of the investor).
An initial investment of at least 2 million euros in Spanish public debt securities, or 1 million euros in stocks or shares in Spanish companies undertaking actual business activities, or in investment or venture capital funds incorporated in Spain, or in bank deposits in Spanish financial institutions.
A business project in Spain considered being of general interest, as regards the creation of jobs, the significant socio-economic impact on the geographical area in which the project is to be carried out, or its significant contribution to scientific or technological innovation. In this case, a representative designated by the investor to manage the project may obtain the visa.

Investments made by legal persons will be accepted, provided that the legal person is not based in a tax haven, and that the investor holds, directly or indirectly, majority voting rights and the power to appoint or dismiss the majority of the members of the board of directors.

The Consulate of Spain in Chicago will consider applications for residents in this jurisdiction: Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin.

Applications are in person by appointment only. To request an appointment please follow these instructions:

Send an email with the appointment request to cog.chicago.cit@maec.es (one email per family group)
Attach a PDF copy of the applicant`s ID (State ID, Driver's License, or Student ID)
Include this mandatory information :

Name and last name of the applicant (for a family group, include all the applicant's names in the same email).
Email address.
Phone number.
Type of visa.
Intended dates of travel.

REQUIRED DOCUMENTS:

1. National visa application form. The applicant must complete and sign an official application form, filling in each of its sections. If the applicant is a minor, one of their parents must sign the application.

2. Photo. Glued to the application form. An updated photo-paper picture, passport size, facing forward, without dark or reflective glasses, or any garments concealing the oval of the face. Photographs of toddlers and babies must not show any part of the adult holding them.

3. Valid, unexpired passport. Original and copy of the page or pages of the passport that contain biometric data. The passport must have a minimum validity of 1 year and contain at least two blank pages. Passports issued more than 10 years ago will not be accepted.

4. Proof of residence in the consular jurisdiction: State ID, Driver´s License, or Student ID.

5. Proof of legal residence in the United States (Non-Americans). Must present one of the following documents:

Original and copy of Permanent Resident Card (Green card)
Valid US long-term Visa

Holders of B-1/B-2 visas cannot apply in the United States; they must apply in their country of permanent residence.

6. Documents accrediting the investment. Original and a copy of the following documents:

Investment in real estate: Certificate from the Land Register with up-to-date information on ownership and encumbrances, issued no more than 90 days earlier, and deed of sale if the amount of the purchase is not included in the certificate on ownership and encumbrances.
Investment in unquoted stocks and shares: Declaration of investment made at the Foreign Investments Registry of the Ministry of Economic Affairs and Digital Transformation.
Investment in quoted stocks: Certificate from the financial intermediary registered at the National Securities Market Commission (CNMV) or at Banco de España, accrediting that the interested party has made the investment.
Investment in public debt: Certificate from the financial entity or from Banco de España accrediting that the applicant is the sole owner of the investment for a period equal to or exceeding 5 years.
Bank deposit: Bank certificate indicating that the applicant is the sole owner of the investment.
Investment in a business project: Favorable report from the relevant Economic and Commercial Office of this consular district, stating the general interest that will be served by the business project.
In the event of an investment made through a legal person: favorable report from the relevant Economic and Commercial Office of this consular district, stating that the company is not based in a tax haven, and that the investor holds, directly or indirectly, majority voting rights and the power to appoint or dismiss the majority of the members of the board of directors.

Foreign documents must be legalized or apostilled and, where applicable, must be submitted together with an official translation into Spanish.

7. Financial means. Original and a copy of the documents proving sufficient own financial means, or accrediting a regular source of income for the investor and, where applicable, for the family members accompanying them. The minimum required amount is equivalent to 400% of Spain's Public Multiple Effects Income Indicator (IPREM). To this amount must be added 100% of the IPREM for each family member. Foreign documents must be notarized or apostilled and, where applicable, must be submitted together with an official translation into Spanish.

8. Health insurance/Proof of public or private health insurance: Certificate in Spanish issued by an Insurance Company operating in Spain specifying:
Name of applicant.
Start date of the coverage.
The health insurance must not have a deductible, copayment, or coverage limit; it must cover 100% of the medical, hospital, and out-of-hospital expenses. The coverage has to be minimum $50.000 (30.000 Euros).
An Insurance card will NOT be accepted as proof of coverage.
Travel insurance is not accepted.

9. Criminal record check certificate. Applicants over 18 must present an original and photocopy of the criminal record check certificate issued by FBI, It cannot be older than 6 months from the issued date, and legalized with the Federal Apostille of the Hague Convention requested to the Department of State in Washington DC. Local State Apostille is not valid.

The applicant must present criminal record certificates from the countries of residence of the last 5 years.
The certificates must be translated into Spanish by a certified translator.

10. Visa fee. For nationals of Australia, Ethiopia, Canada, the United Kingdom and others, different rates are applied based on reciprocity. Please check the complete most recent visa fees 2025
Present the payment the day of your appointment. Only money orders are accepted, payable to the Consulate of Spain. No cash, personal checks, nor credit cards. The processing fee will not be returned even if the visa is not granted or canceled.
APPLICANT FROM JAN. 1ST 2025
Americans $ 190
Other Nationalities $ 94

11. Pre-Paid Priority/Express mail envelope from the United States Postal Services along with a tracking number. Once the visa is approved, the Consulate will return the applicant's passport inside that envelope.

12. Shipping Disclaimer form must be downloaded here.
FOR FAMILY MEMBERS
The following family members of the investor may also obtain the visa:

The spouse or unmarried partner.
Children.
Relatives in the ascending line in the investor's care.
For each family member accompanying the investor, the following must be submitted:
All the required documents specified in the above sections from 1 to 5 and 8 to 10.
Children: Original and copy of birth certificate, apostilled and translated into Spanish by a certified translator.
Spouse or partner: Original and copy of marriage certificate issued in the last 6 months, apostilled and translated into Spanish by a certified translator, or any other document proving the relationship (joint taxes/bank statements)
Children over 18 must prove their financial dependence and civil status.
Relatives in the ascending line: documents proving they are in the investor's care as well as, original and copy of the invertor's birth certificate, apostilled and translated into Spanish by a certified translator.

The Consular Office may request additional documents
For representative (Attorney): Copy of the identity document or passport of the representative and notarized power or document accrediting representation must be submitted. The originals must be shown when submitting the application. Foreign documents must be legalized or apostilled and, if necessary, submitted together with an official translation into Spanish.

Procedure:
This Consular Office is competent to accept visa applications from individuals residing in the consular district.

Who can apply for a permit: Visa applications must be submitted in person by the applicant, or by one of their parents if they are a minor. They may also be submitted through a duly accredited representative.
Visa application period: 1 year as of the capital investment. This period is not applicable to investments in real estate, but investments made before 29 September 2013 will not be eligible.
Place of submission: Applications must be submitted in person at the Consular Office. An appointment is necessary.

Address:
Consulate of Spain in Chicago
180 N. Michigan Ave, Suite 1500
Chicago, IL 60601

Proof of receipt: The Consular Office will provide the applicant with proof of receipt of the application with a code that enables them to check the status of the dossier through the following link: https://sutramiteconsular.maec.es/H ome .aspx.
Rectifying the application: The Consular Office may ask the applicant to submit any missing documents or to provide additional documents or data that are necessary for a decision regarding the application. The applicant may also be called in for a personal interview.
Decision period: The legal period for reaching a decision is 10 days as of the day after the submission date of the application, but this period may be extended when an interview or additional documents are requested.
Collecting the visa: The visa must be collected in person by the applicant or by their representative within a maximum period of 1 month after the approval. Or, it will be sent in the prepaid envelope provided by the applicant.
Visa refusal: Visa refusals will always be notified in writing, setting forth the grounds on which the decision adopted was based.
Appeals: If a visa is refused, the applicant may submit an appeal for reconsideration to this Consular Office within 1 month of the day following the date on which notification of the refusal is received. An application for judicial review may also be filed with the High Court of Justice of Madrid within the 2-month period beginning the day after the date on which the applicant receives the notification of the visa refusal or of the dismissal of the reconsideration appeal.
The validity period of the visa: The visa is valid for 1 year.

The visa accredits residence in Spain during its validity period, making it unnecessary to obtain a Foreigner Identity Card. However, this card may be applied for at the Foreign Nationals' Office or the corresponding Police Station.