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Law on visas for entrepeneursThis Act is aimed at investors, entrepreneurs, highly skilled professionals, researches, and workersperforming inter-company business operations, including their spouses and children under 18.The Act facilitates a swiftness of processing, generally establishing a resolve within 10 days for allvisa applications relevant to this law.The Residence Visa issued under this law is sufficient to reside in Spain one year without havingto obtain a foreign identity card. The renewal of Residency may take place even if absencesexist for longer than six months per year in the case of Residency Visas and authorisations forforeign investors and for foreign workers performing inter-company operations abroad or thathave established their base of operations in Spain.General Requirements:‣ Not to be on Spanish soil irregularly.‣ Be older than 18 years.‣ No criminal record in Spain or countries lived in during the last five years foroffenses stipulated under Spanish Law.‣ Not listed as objectionable in the territorial space of countries with which Spain hassigned an agreement in this regard.‣ Have a public insurance or private health insurance with a Health Insurance Institutionauthorised to operate in Spain.‣ Have sufficient financial resources for yourself and for the members of your familyduring the period of residency in Spain (€2.130 monthly for yourself and€ 532 for everyfamily member that is in your care).‣ Pay the fee for the processing of visa(s).It is important to mention that the processing of the Residency Visa is extended to the spouseand children under 18 years of age or to elderly family members who are not able to provide forthemselves due to their state of health, when they unite with or accompanyapplicants. Consequently they may apply, jointly and simultaneously or successively for a familyresidence visa, with proof of compliance with the above requirements.The presence of the applicant of the visa is not required because biometric data is notrequired. The residency visa may be requested and obtained through a duly accreditedrepresentative.21