In September 2013 the Spanish government introduced the new "Ley de Emprendedores".
This new law encourages entrepreneurs 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 who invest at least €500,000 in Spanish real estate. Investment in multiple properties and co-ownership is also permitted.
The Golden Visa is expected to attract a large number of investors, especially from Asia & Middle East.
Plots Direct SL 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.
The investment will provide a visa for at least one year.
This 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:
Applications from individuals with a criminal record will be rejected.
If the application is approved, the decision to issue a visa will be granted and applicants notified within a period of 10 working days.
Application for The Spanish Residence Permit will be dealt with by the relevant 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.
Plots Direct has established arrangements with qualified professionals 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.
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. You can 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 people are: Andorra, Monaco, San Marino and the Vatican City.
Visas and residence permits apply to both the spouse of the applicant and their children under 18.
Plots Direct SL collaborates with independent Spanish lawyers and independent fiscal accountants. These firms specialise in advising foreign investment by both individuals and companies.
Plots Direct SL ensures that these firms will provide the best legal and tax assistance to help every aspect of your investment. They will also assist with all the paper work required during the entire process of the property or financial investment.
When investing in property, must the property be free of mortgage?
Not necessarily, as long as the contribution of private funds is above 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€.
If you purchase a property that does not have an existing mortgage but you still require one to complete the purchase, you can take out a loan and mortgage the property yourself, as long as this still results in a personal investment of 500.000€ in addition to the loan.
Not automatically, unless you contribute by paying into the social security system on a monthly basis once you live here. As the granting of a visa does not automatically entitle you to health benefits, we advise you to have private health insurance.
Yes, but you should be able to provide evidence of the source of funds to demonstrate that the money comes from legal sources and is 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.
The Spanish economy is improving, yet property prices remain low, providing ideal circumstances for excellent investment opportunities in real estate:
The short answer is YES.
A report published by the National Institute of Statistics shows a 60% drop in prices since 2008.
Prices have now stabilised. The best transactions are being made now taking advantage of the fact that properties in prime locations are coming onto the market. These are the first being sold due to their good quality/price relation. For these reasons now is the right moment to invest in Spain.
The law grants residence visa concession to foreign investors that comply with the following requisites:
Secure online reservations of plots and properties are available. Ask for your reservation code.