20 YEAR SAFE PURCHASE
GUARANTEE at no cost to you. All our
properties are covered by this Title-
Guarantee, which provides cover for
costs, solicitor’s fees and expenses in
defending title relating to the covered
risk, up to the purchase price stated in
your Escritura, limited to 360.000 EUR.
We, as an accredited Estate Agent with
the exclusive “Safe Purchase Brand” are
giving you this Quality Brand Guarantee.
The premium for this insurance is paid
by our company and the policy is issued in the buyer’s name. EstateCanaria

Real Estate Agency on Gran Canaria

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Golden Visa & Residence Permits Spain for Non-EU Investors.

After approval by both Houses of the Spanish Parliament and publication in the Bank of Spain’s Official Gazette, the law allowing non-EU investors to apply for Spanish residency.

Here you can see the amending Spanish law 14/2013, of 27 September, to support entrepreneurs and internationalization, the official newsletter no. 180, Wednesday July 29, 2015 Section I. page 64529 BOLETÍN OFICIAL DEL ESTADO.

The new law on entrepreneurs hope to contribute to the economic growth of Spain by the influx of foreign capital. Spain is now granting the Golden Visa to non-EU citizens, caring out investments, like purchasing of Spanish real estate of at least 500.000 € (investment in multiple properties and co-ownership allowed).

The Golden Visa is expected to attract a large number of investors, especially from Asia& Middle East.

EstateCanaria has qualified sales advisors who can help you to find the best property for you.

The investment activity must be performed before the application and maintained for a minimum period of 5 years after the residence permit is granted.

Duration of visa or residence permit.

The investment will provide visa for at least one year.

The Visa is then renewed for 2 successive periods of two years, provided that the requirements of the investment activity are maintained, and the applicant must:

  • Be in possession of a valid Visa or one which expired less than 90 days ago.
  • There is no minimum stay period in Spanish territory, but the holder of the Spain Residence Permit must travel at least once to Spain, during the period preceding each renewal.
  • Sustain the investment.
Applications from individuals with criminal record will be rejected.

The decision to grant a Visa will be resolved and applicants notified within a period of 10 working days, in case of Spain Residence Permit must be taken by the competent authorities within 20 days after the submission of the application, which must include evidence that the financial or real estate investment has already been completed.

EstateCanaria has established arrangements with the most qualified professional to provide a consultation service for the obtaining of a Visa or Residence Permit, and they will advise you during every phase of the application process.

The key to access Europe - - Family and mobility benefits in Europe.

Travel freely, without a Visa, to the Europe Schengen area. The holders of a Spanish Residence Permit (Golden Visa) will not require a Visa to enter the Europe Schengen area. They can transit and enjoy free movement in the Schengen area for a maximum period of 3 months (90 days) per half-year form the date of first entry.

 

Other countries which do not belong to the Schengen area but which guarantee the free movement of persons are: Andorra (required to show passport together with the Visa or Residence Permit), Monaco, San Marino and the Vatican City.

Visas and Residence Permits apply to both the spouse of the applicant and their children under 18.

I would like to invest in Spain, but I don’t know about the Legal or Tax aspects related.

EstateCanaria
 collaborates with firms of independent Spanish lawyers with both knowledge and experience in foreign investment by individuals or companies. 

EstateCanaria safely guarantees that these firms will provide the best legal and tax assistance to solve every aspect and all the paper work required during the entire process of the property or financial investment.

Frequently Asked Questions for Visas and Residence Permits in Spain through Property investment.

In the case of investing in property, must it be free of mortgage?

Not necessarily, as long as the contribution of private funds is over 500,000 €. This means you can buy a property with a mortgage as long as the difference between the purchase price and the mortgage is over 500.000 €.

It may be the case you purchase a property that does not have an existing mortgage. If this is the case, as the future buyer you can take out a loan and mortgage the property yourself, as long as this still results a personal investment of 500.000 € in addition to any loan.

Having a Spanish Pesidence Permit entitles me to healthcare in Spain too?

The granting of a Visa or a Residence Permit does not entitle social or health benefits.

You will need to have private health insurance in order to receive the benefits without being subject to higher charges.

Can I transfer my money from anywhere in the world?

Yes, but you should be able to provide evidence as to the source of funds to demonstrate that come from clean sources and are not involved in criminal or illegal activities.

Also, if the fund comes from a tax haven, a declaration procedure should be performed in advance in the "Register of Investors', a specific department of the Ministry of Economy in Spain.

Why invest in Spain?

The Spanish economy is facing many challenges, ideal circumstances for great investment opportunities:

  • An internationalized economy: one of the largest economies in Europe and important internationalized Spanish companies are already world leaders .
  • A macroeconomic situation marked by structural reforms, especially fiscal and labor, that encourage investment.
  • Potential of Spanish domestic market, with more than 47 million people worldwide leadership in the tourism sector , the second country with the greatest benefit , behind the United States. The gateway to Europe, Africa market ( the Canary Islands as a commercial hub ) and Latin America, a market in Spain is the third largest investor under Netherlands and the United States (2011).
  • The business climate marked by the qualification of human capital, labor cost competitiveness and quality of infrastructure.
  • Business opportunities, and the potential of renewable energy, biotechnology, aerospace and automotive industry, logistics and transport, environment and water treatment .

Do not forget the superb quality of life: a rich historical and cultural heritage, world-renown gastronomy, an exceptional climate and more than 8.000 kilometers of coastline.

Other alternatives to obtain a Visa & Residence Permits

The law grants residence visa concession to foreign investors that comply with the following requisites:

  • Buy a property with a value equal to or more than € 500,000
  • That they acquire Spanish Debt Bonds of at least 2 million € (Major shareholders of foreign companies who invest in Spain may individually obtain the Golden Visa.)
  • Capital transfer of at least 1 million € into the Banking system or Spanish companies.
  • Creation of a Business Venture leading to job creation, local economic development or scientific-technological contribution. In this case, it will be necessary to show an affirmative report issued by the ‘Dirección General de Comercio e Inversiones’, Spain’s Directorate-General of Trade and Investment of the Ministry of Economy.

If you have a specific interested in relation to Spanish Residence Permits / Visas, kindly provide your contact details by clicking here.

(This information is for general reference only, and should not be used as substitute for professional legal advice.)

   
   
   

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