Spain has it allMany European countries such as Spain, Greece, Portugal, Ireland and Cyprus, have decided to promote their Real Estate market among international investors in order to improve their economies. So far, Ireland and Spain seem to be doing the job fairly good, for they have managed to attract many foreign investors.
However, it is important to note that Mediterranean lifestyle is the most appealing of all the options, thus Spain is succeeding in receiving the attention of Russian, Chinese, Brazilians, Americans and even British entrepreneurs, when selecting a place to develop a business or live temporarily or permanently.
Spain has become into an open door to a new life. Its weather, food, cultural diversity and privileged geographical position are definitely a plus. If you add to all these elements, the possibility of holding a permit granting you free movement over the European Zone or Schengen area, you could say that Spain has it all.
Residence Visa for wealthy property investors.Considering all these elements, the Spanish government has passed a new Law on September 2013, clearly stating that those international venture capitalist who are willing to invest at least €500,000 in properties within the Spanish territory will be granted the Spanish residency. That is to say, that by investing the said amount of money in Spanish Property will put you on the right track toward an eventual citizenship after completing the minimum required time of residency in Spain, and as a result, then you will be entitled the European passport. For those non-EU citizens, this visa through Property Purchase can facilitate their process to issue the residency permit in Spain for them and their family members.
Even though the government has facilitated the process toward residency with this Property Visa, it requires different stages that must be fulfilled due time and in a specific order; therefore, it would be advisable to count with the help and guidance of a group of highly qualified experts who can represent you and guide you over the requirements to complete the purchase and then apply for the corresponding visa.
Buying the perfect property:Finding the perfect property will take you sometime for you shall select the place and the type of property you wish to acquire. Remember that you may acquire one or more properties, the key is to invest at least €500,000. These properties may be used for commercial purposes or housing (whether permanent or occasional residency). A Real Estate Agent could help you sorting out any doubt that you may have in relation to a specific property or land.
Once you have selected the property, you could designate one of our attorneys to represent you during the conveyance process before the Spanish Authorities and the selling party, thus avoiding you unnecessary flights to Spain. As a Responsible Law Firm, we will run a check on the property before handing in any amount of money to make sure that everything is pursuant to the law. Then, we will draft the contract and will settle everything to sign the tittle deed before the notary.
Issuing the residency visa through property purchase:The general time of process for a residency visa is around two months. However, when applying through property investors, the resolution may be issued in just one month or less. The relevant documentation shall be submitted in the closest Spanish Diplomatic Mission or Consulate to your domicile. Generally, you will be requested to submit.
- The tittle deed of the property
- Copy of your passport.
- Criminal records.
- Bank statements proving sufficient funds to cover your expenses while living in Spain, and those of your family members, if applicable.
- International health insurance.
If you have any doubt or wish detailed information according to your case contact us and schedule a consultation.