RESIDENCY IN SPAIN R e s i d e n c y i n S p a i n 1
A G E N D A 01. SPANISH GOLDEN VISA � Spanish Golden Visa Features � Visa Requirements 02. WHY INVESTING IN SPAIN � Investing in Spain � Barcelona: the city of now � Barcelona Property Market � Guide to buying a property in Spain � Comparison Spain Vs Portugal 03. INVESTMENT HIGHLIGHTS � New Development Properties � Re-sale Properties � Exclusive Properties – Prime Properties 04. PROPERTY MANAGEMENT SERVICE � Overview R e s i d e n c y i n S p a i n 2
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S PA N I S H G O L D E N V I S A / I N V E S T O R P E R M I T K E Y F E AT U R E S 1 TYPE OF INVESTMENT REQUIRED Acquisition of property or land, regardless if a real estate or commercial propery, within an investment threshold of over € 500,000 (taxes are not included in the investment threshold). Multiple investments are allowed. Additional costs for the investor are Taxes on the purchase which would range from 8 to 10% of the purchase price, and Notary and Property Registry fees which could range from 1 to 3% of the purchase price. 2 DURATION The Golden Visa has a duration of 1 year and it can be converted, upon expiry, in the Investor’s Residence Permit. The Investor’s Residence Permit has an initial duration of 2 year and it is renewable for periods of 5 years as long as the investment is maintained. In general the investor entitlement to the Golden Visa/permit starts from the completion of the purchase (date of the purchase public deed) even if there is the possibility to apply for a Temporary investment visa of 6 MONTHS for those who have not yet formalized the purchase, but already have signed a reservation deposit agreement, or any other similar kind of agreement formalised in a public deed, which secures the future purchase. Once the purchase process has been completed, they will obtain the permit. R e s i d e n c y i n S p a i n 6
S PA N I S H G O L D E N V I S A / I N V E S T O R P E R M I T K E Y F E AT U R E S 3 5 MOBILITY MINIMUM STAY Golden Visa/Investor’s Residence Permit allows unrestricted capacity to move No minimum stay in Spain is required neither during the first year (Visa) nor within the “Schengen” area. This means that the holder of the Golden Visa / during the further periods of 2 and 5 years (Permit). Actually the investor does Investor Permit has the right to remain in Spain for an unlimited period of time, plus not even need to travel at least once to Spain and the extension can be made in in the rest of the Schengen area for three months within each period of six months. Spain by a representative. 4 6 FAMILY AND WORK APPLICATION Family members of the investor may also apply for the Golden Visa/Investor The application for the Golden Visa can be submitted before the Spanish Residence Permit under the same investment: including spouse (or person Consulate of the inversor’s country of residence. But the investor can also apply with a similar affective relationship) children under 18 y.o. (over 18 y.o. if directly in Spain for the Investor’s Residence Permit while legally staying in economically dependent) and dependent ascendants of the investor. Spain, on any kind of visa or visa exemption (for example as tourist). Both the investor and the beneficiary family members are entitled to work in Spain. R e s i d e n c y i n S p a i n 7
S P A N I S H G O L D E N V I S A / I N V E S T O R P E R M I T K E Y F E AT U R E S 7 10 INVESTMENT MADE BY LEGAL ENTITY TAX RESIDENCE OF THE INVESTOR As the benefjciary of the Golden Visa is not required to stay a minimum time The investment can be made through a legal entity provided that: in Spain, his/her tax domicile will not be afgected: generally speaking, a non- i) The legal entity is not located in a tax haven. Spanish national becomes Spanish tax resident when he/she stays longer than 183 days in Spain during any one calendar year. ii) The applicant individual has the majority of the voting rights in the company and enough faculties to appoint and dismiss the majority of the company directors. 11 ACQUISITION OF SPANISH CITIZENSHIP INVESTMENT MADE BY A MARRIED COUPLE UNDER A 8 COMMUNITY PROPERTY REGIME The Golden Visa does not entitle automatically to the Spanish citizenship but the golden visa holder can obtain either the permanent residence (indipendent An only investment of EUR 500,000 will be suffjcient: however only one of the from the investment) and the citizenship if he/she proves efgective residence spouse will apply as investor and the other as family member. (more than 183 days per year) during the legal period: 5 years for permanent residence and 10 years for citizenschip. 9 12 PURPOSE OF THE INVESTMENT TIMING There is no restriction to the use of the property by the investor: the property Golden Visa application should be processed by the consulates and granted can be rented from the very fjrst moment. within 10 days from fjling. The property cannot be re-sold as the benefjciary would lose the right to reside. Investor’s Residence Permit applications are processed electronically and granted within a maximum time limit of 20 days from fjling. R e s i d e n c y i n S p a i n 6
V I S A R E Q U I R E M E N T S ! THE APPLICANT MUST FULFILL THE FOLLOWING REQUIREMENTS: Not to have entered or stayed illegally in Spanish territory. Nor have been Have sufficient economic means to cover personal and family living 1 4 refused entry in any of the Schengen countries. expenses (26.000 € for the applicant plus 7.000 € for each family member). Be 18 years or over, with no criminal record in Spain nor in the countries Prove ownership of one or more immovable properties in Spain with an 2 5 where the applicant has resided in the previous 5 years. overall net investment contribution above € 500,000. Have public or private health insurance with an entity authorized to Prove of investment must be made through Registry of Property 3 6 operate in Spain which will have to provide full medicale coverage for a certificate attesting ownership or, if the ownership title is not registered, minimum period of 1 year. via copy of acquisition public deed and proof of filing the deed in the Registry. R e s i d e n c y i n S p a i n 9
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R E A S O N S T O I N V E S T I N S P A I N 1. SPAIN AS A WORLD LEADING DESTINATION At present, Spain is the third tourist destination in the world, behind France and the United States alone. During 2016, Spain received more than 75 million tourists, almost 10% more than the previous year. It is important to note that Spain is the world’s second country with the most World Heritage cities, the third in terms of natural areas declared Biosphere Reserves, and the country with the most Blue Flag beaches in the entire Northern Hemisphere. These are only a few examples of the attractions that Spain has to ofger to its visitors. Number of visitors by origin TOURISM & INTERNATIONAL FLIGHTS DATA � 75,6 millions of international tourists visited Spain during 2016 � 6% of the visitors came to Spain for business and 85% for leisure � Spanish airports managed over 1 million international fmights R e s i d e n c y i n S p a i n 9
2. THE SPANISH ECONOMY 3. WORLD CLASS EDUCATION The Spanish economy continues to show signs of strength. The National Spain holds 3 positions in TOP20 best world business schools. Institute of Statistics advanced data for the last quarter of 2016. GDP increased Source: www.rankings.ft.com by 0.7% during the last quarter of the year, accumulating annual GDP growth of 3.2%. Data on economic growth are reinforced by the good news about the unemployment rate, which fell to its lowest level in the last 7 years (18.63%). In 4. WORLD’S BEST HEALTH SYSTEMS the European context, Spain is still one of the countries showing the greatest growth within the euro zone. Spain ranks in the 7th position of the World’s best health systems. Source: World Health Organization GDP Source: IMF Estimated Projections 2015 2016 2017 2018 5. STRATEGICALLY LOCATED & CONNECTED World Output 3.2 3.1 3.4 3.6 Spain’s airports, seaports, high-speed rail and motorways stand among the Advanced Economies 2.1 1.6 1.9 2.0 best in the world, representing an optimal resource to promote international United States 2.6 1.6 2.3 2.5 Euro Area 2.0 1.7 1.6 1.6 trade & tourism. Germany 1.5 1.7 1.5 1.5 France 1.3 1.3 1.3 1.6 Italy 0.7 0.9 0.7 0.8 Spain 3.2 3.2 2.3 2.1 Japan 1.2 0.9 0.8 0.5 United Kingdom 2.2 2.0 1.5 1.4 R e s i d e n c y i n S p a i n 1 2
B A R C E L O N A : T H E C I T Y O F N O W Barcelona is an open, mixed, cosmopolitan and cross-cultural city that attracts visitors, talent, investments, technological and scientific innovation and avant- garde cultural proposals. To speak of Barcelona is to refer to the mobile capital of the world and to an international reference regarding the use of technologies as a means to develop intelligent management of the city. As a leading city in clinical and human health research, Barcelona is home to ninety research centers in which more than four hundred research groups are consolidated and dedicated to the field of life sciences. The Catalan capital is among the best cities in the world in the classifications of quality of life, safety and equity. R e s i d e n c y i n S p a i n 1 3
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