The so-called Golden Visa is a residence permit for non-EU citizens who invests in real estate in Spain, equal to or greater than 500,000 euros. This investor visa allows non-European citizens to obtain Spanish residence for 1 year (with possible future renewals to extend the duration of the permit). One of the benefits that this residence permit provides is that it does not require a stay in the country, the applicant must only visit the country on time. In other words, if you have money, then you can buy a residence permit in Spain.
The investment does not have to be in real estate, in general, one can also invest in current accounts or financial products for 1 million in Shares in a Spanish company or 2 million euros in Spanish public debt. Real estate investment involves buying properties worth half a million euros. The law allows also an investment in a business project that has an impact on society in the form of job creation and innovation, this investment is quite unknown among potential investors in Spain, therefore, by far the least used. Spanish law states that the project is considered “of general interest”, if it meets one or more of the following conditions: job creation, the socio-economic impact of relevance in the geographical area in which the activity is developed, and relevant contribution to scientific or technological innovation. The minimum amount recommended is around 250,000 euros, a quantity agreed with the Dirección General de Comercio Internacional e Inversiones, which is the competent body to approve these applications, in exchange for the residence permit. It is only an approximate quantity and each case will be studied case by case so that the "general interest" established by law is met. *The posts in this blog are only informative and general. Not suitable for any legal advice. They are not automatically up to date.
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When you buy a new development in costa del sol, you will receive a modern, unused, and energy efficient property which one can usually modify for one’s preferences during the building process. From an investing point of view, it is generally recognized that buying a new development in an early stage, while the promoter is trying to attract investors, offers the possibility to purchase it at a lower price. Usually, when the project is ready the property prices will rise.
From a financial point of view, there is the benefit of not needing to pay the whole purchase price at once. The buyer can make the payments in stages as the project proceeds. The purchaser does neither have to use a building inspector, while that has to be offered by the promoter. The buyer does not even have to pay the property transfer tax (ITP ), that is required when buying a second-hand property. However, when buying a new development, the buyer has to pay the VAT tax that is either 4% or 10% depending on the type of project. One of the most important things is the obligatory bank guarantee/security by the developer to refund payments during the building projects, in case the project does not finalize. Also, every serious promotor has additional guaranties and deposits on external accounts for fulfilling any claims that could occur during and after the building process. The buyer of new development in costa del sol is furthermore protected by consumer laws while the purchase is between a company and a consumer, which is not the case when for example buying a second-hand property from a private person. Additionally, it is protected by other laws and norms for users. There are also extended possibilities for claims, while the buyer has the right to claim constructional, installation, latent effects, and other issues during 1,3 and 10 years after the finalization of the project depending on the what the claim concerns. Lastly, there is the possibility to claim a breach in contracts for 5 years, for example, if the materials used in the project are not the ones established in the developer’s protocol. We recommend always to consult a lawyer to guide through the process, because it is very important to check the contracts, protocols, memorandums and that the developer/promoter has the required licenses concerning property, etc. to secure your rights in case of any issue. Our in-house lawyer offers also these services. Find your new development or off plan project in costa del sol *The posts in this blog are only informative and general. Not suitable for any legal advice. We do not take any responsibility for actions taken, referring to the blog posts. They are not automatically up to date. Recently Spain has added a lot of immigration services that could be processed online. An often asked question is if the NIE number* (Número de Identificación de Extranjero) could also be obtained online? The answer for the moment is, no.
The immigration services that are offered online, generally consist only of the services provided by the Foreigners Office (Extranjería). NIE is issued by the Police station (Comisaría) and requires as a general rule a presential and personal identification process. However, if the intention is to apply for a residence permit or similar online, one could start by applying the NIE in one’s home country at the Spanish Embassy or the police station in Spain and then continue with the services offered online. But when applying for the residence permit online, the person has to be physically in Spain. Spain is constantly adding services, that could be processed online, so hopefully, soon, the identification process for NIE could also be done online. *NIE: NIE number is the identification number in Spain for those who are not a Spanish citizen. It is the counterpart to a DNI for Spanish citizens. Both EU citizens and non-EU citizens can obtain an NIE. Those who apply for a moratorium for loan debts do not have to pay the notary nor register fees5/28/2020 As a general rule, due to Decreto Ley 2/2020 de 9 de marzo, those individuals in a vulnerable situation who are applying to postpone a loan debt, for example a Spanish mortgage (hipotéca) do not have to pay the notary or register fees included in the process. The bank or credit institutions are obliged to stand for the fees, which also also applies for other types of loans mentioned in the decree law . The intention of the new rule is to protect those persons in a vulnerable situation due to COVID19 and to prevent the obligation for visiting a notary or the register in concern to postpone the contractual obligations.
Please, consider that there may be requirements, that does no apply for ones proper situation, for which we always recommend a case by case study before taking any actions. Due to COVID19 Spain has implemented new possibilities to act online regarding administrative proceedings. One of the new possibilities is to apply for, renew, or claim residence permit proceedings. The new online services are established because of the coronavirus that has led to many administrations being closed and to fulfill the need to provide services that have to do with immigration to Spain. Online services in concern, includes all tasks that are related to the “Extranjería”. This means that for example residence permits could be applied online, meanwhile, NIE number applies, which are a proceeding under the “Comisaría”, could not be applied online. However, NIE could be applied as a general rule, in the home country of the interested, and afterward, the residence permit could be obtained online. One important task is that the interested has to be in Spain, for that it could be possible to apply for the residence permit. One has to keep in mind that we are living in special pandemic times and that there can be updates to these general rules discussed in this blog.
This question is asked a lot and there is not an overwhelming answer, that could fit all the cases. Because, there are different kinds of residence permit processes depending on the aspects like, which nationality is the applier, why is the applicant aiming for a residence permit in Spain, what kind of past has the applier, etc?
In general, it depends if the applicant is an EU citizen or citizen of a third country. However, from a general point of view, the processes to achieve a residence permit in Spain could be amongst others: -through a working contract or entrepreneurship in Spain -through a family member residing in Spain -through studies in Spain or another non-lucrative purpose, like moving to Spain for retirement -human right issues -residing in Spain irregularly for a period of time and fulfilling the requirements for achieving a legal stay (the so-called “arraigo”), Every case is unique and has to be studied which is the right option for the applier. An expressway to achieve a residence permit is by an investment. There are different kinds of investment possibilities of which the well-known is the investment in the property of a value of at least 500.000 euros, the so-called Golden Visa. The applier also has to distinguish between temporary and permanent residence permits. Permanent residence permits are permits that could be achieved after residing legally in Spain for a minimum of five years. Keep in mind that EU citizens could stay in Spain for three months without a residence permit. However, there are some important registrations to be done. The same principle also applies to people with a nationality from other countries, that have agreed about that practice with Spain. On the other hand citizens from third countries needs to apply for some kind of visa or residence permit straight away. Another thing is the Spanish nationality, which has different requirements. In general, those with a nationality from Ibero American countries (including Portugal, etc.) could achieve the Spanish nationality, after residing legally in Spain for two years, depending on the circumstances like the nationality of the applicant or if their parents are Spanish by origin, in that case, the nationality could be achieved by residing one year in Spain. Please, contact us for more information: henrik.petterson@intro-law.com | (+34)620866680 *This article is only informative; it is not suitable for any legal advice. We do not take responsibility for any actions taken by it. No actions should be taken before studying the situation case by case. INTRO lawyers and real estate agents helps you find your dream home and guides you through the buying process. About Marbella
Located between Málaga and Gibraltar at the Mediterranean sea, Marbella is an exclusive resort in Spain. Marbella is known as the Miami of Europe and has 320 sunny days a year. In Marbella, one can enjoy customized luxury stays as Marbella is known for its luxury villas, yachts, and high-quality services. Marbella also offers an easy-going lifestyle providing different activities such as hiking, yoga, pilates, golf, padel, surfing, swimming, skiing in the nearby Sierra Nevada and hanging out in the well reformed old town, Casco Antiguo. In Marbella, there are residents from 137 different nationalities and one can get along quite well with English. NEAR FUTURE OF MARBELLA Marbella Town Hall has launched a Marbella 2022 Project which consists of developing an idyllic type of smart and green city full of parks and biking routes. Also, creating a 200 km long (only in Europe) walking and the bicycling boulevard along with the Mediterranean Sea called Senda Litoral. Further Marbella Town Hall has decided to take steps on making the infrastructure more attractive, building a possible railway station, improving bus traffic and possible tram or metro. In other words, Marbella is growing as an international and dynamic city in Europe. Opening a company in Sweden is a straight forward process. Registration of a company in Sweden could be managed within a few weeks if one delivers all the required information to the local registration office.
Registering a company in Sweden usually begins with a company name search in the local register to check if the preferred company name is reserved or not. Thereafter one has to prepare the articles of association, formation agreement and contract for a company bank account. In the last phase, the registration form has to be filed and sent together with all the documents to the Swedish register. In case of international clients, the process usually includes documents authorized by the notary. INTRO abogados can help you through the whole registration process. Nowadays a lot of companies are dealing with personal data, that needs to be managed as stated in the General Data Protection Regulation (GPDR), and the Spanish Law for data protection (Ley Orgánica 3/2018, de 5 de Diciembre) taking into account also other regulations for storing sensitive data.
Personal data are for example name and address of a physical person. (Another thing is company data, that is not in general included in the GPDR). Depending on what kind of data company stores about its client or other physical persons in general, it could require different kinds of documents as privacy policy among others to fulfill the demands set in the GPDR and the Spanish Law for Data Protection. Collecting personal data and not fulfilling the requirements of the mentioned norms could cause among other big sanctions for the neglecting company. INTRO™ Lawyers can prepare all the documents needed to fulfill the norms for data protection and make Your company GPDR compliant. For examples privacy policy for your company website in English, Spanish, Swedish and Finnish. |
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