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Residence permit for investors in Spain.
Residence permit for investors.
The Spanish press reports that during the period of the law 14/2013 from September 2013 to January 2015, only 531 foreigners received a residence permit for investors in Spain (the so-called "golden visa").
They write that basically, they are Chinese and Russian. Most bought real estate worth from 500 000 euros. But there are real investors. However, there are only 41 such people.
Since September 28, 2013, a new law "On the Support of Entrepreneurs and their Internationalization" (Ley 14/2013 de 27 de septiembre de l'ouau a los emprendreurs y su internacionalizacion) came into effect on the territory of Spain, which provides for the granting of special permit documents for a stay in the Spanish territory:
The "Golden Visa" is the unofficial name of an investor visa (visado de residencia para inversores en Espana) provided for by a new law for foreign investors.
Who can apply for a "golden visa"?
A foreign citizen who invests in real estate in Spain an amount equal to or in excess of EUR 500,000 can apply for an investor visa without taking into account the taxes and fees that accompany the transaction. Real estate for this amount should be free from encumbrances, that is, it can not be acquired with the use of external financing (mortgage, loan, etc.). Funds must come from sources outside of Spain.
The transaction should be carried out exclusively on own means?
For the possibility of applying for an investor visa, it is necessary to purchase real estate in Spain for a minimum amount of 500,000 euros, that is, this amount should be freedom from encumbrances. Investments above the minimum amount can come from sources of external financing. For example, if an object costs 700,000 euros, then 500,000 must be paid out of own funds, and the remaining 200,000 can be covered by a mortgage.
Where is an investor visa requested?
An investor visa is requested by the Consulate of Spain in the country of permanent residence of the applicant.
What documents do I need to provide for a real estate investor visa in Spain?
Two copies of the application for a national visa (Visado Tipo D, Codigo RIV). Two recent color photographs 3.5 x 4.5 cm on a white background. A passport for a period of validity of at least 1 year and a copy of all its pages. Internal passport and copies of all of its pages. Certificate of criminal record with the Hague Apostille and certified official translation. Insurance policy valid for at least 1 year, issued by an insurance company accredited in Spain and with mandatory coverage of repatriation costs. Confirmation of the availability of funds. The law does not prescribe any minimum amount, so the formula is taken into account, which applies to foreigners applying for a residence permit without the right to work. This is a 400% IPREM (multifunctional total income) per month per applicant, that is at least 25.560.48 euros per year. Plus for 100% IPREM per month for each family member, that is at least 6.390.13 euros per year for the spouse and each of the underage children. Please note that the above amounts are minimal and it will be highly advisable to show higher incomes. Preferably, but not necessarily, have these funds in a current account in a Spanish bank in Spain. Certificate from the Register of Owners (Registro de la Propiedad), containing an electronic confirmation code and issued not earlier than 90 days prior to the filing of the application in the visa. The original of the notarial contract of sale, confirming the investment in real estate in the amount of not less than 500 000 euros, free from encumbrances. Certificate of NIE.
Is it necessary to submit documents personally or can it be done by a notarized power of attorney?
The law does not oblige the applicant for a visa or the residence permit of an investor to file documents personally. For you it can be done by an officially accredited person.
ATTENTION! As of July 30, 2015, amendments to Law 14/2013 of September 27, 2013 came into force. All the details are HERE.
What is the difference between an investor visa and an ordinary long-term visa?
The term of the investor visa is one year. The advantage of an investor visa for ordinary resident visas is that staying in Spain for this year is unlimited (that is, there is no restriction on staying in Spain for up to 90 days in every six months).
How long do I have to enter Spain after receiving an investor visa?
The investor's visa does not oblige the recipient to enter the territory of Spain in the first 90 days from the receipt of the document. You can go to Spain at any time during the period of the issued visa.
Do I have to apply for T.I.E after the entry?
Having an investor's visa, you can reside in Spain for a year without having to file documents for the issuance of a T. IE card (an alien identification card). It is quite enough to have an investor visa in your passport.
Residence permit of the investor.
How does the residence permit for an investor differ from an investor's visa?
The residence permit of the investor is the next stage of legalization in Spain after obtaining an investor visa. If the investor intends to continue his stay in the Spanish territory after the expiry of the visa, he has the right to apply for a residence permit (autorizacion de residencia para inversores). This document is issued for a period of 2 years.
At the same time, it is required that the applicant at least once use the investor's visa. To obtain and extend the residence permit, you do not need minimum income in the territory of Spain and you do not need to wait for the expiration of the visa for the investor to apply for residence permit. That is, having received an investor's visa, you can enter the territory of Spain any day during the validity of the visa and immediately apply for a residence permit.
Where is the residence permit of the investor requested?
The residence permit of the investor is requested in the Division of Large Enterprises and Strategic Collectives of the General Secretariat for Immigration and Emigration of the Ministry of Employment and Social Security (Madrid, the Secretaria General de Inmigracion y Emigracion del Ministerio de Empleo y Seguridad Social).
What list of documents should I submit to the residence permit of the investor?
A passport with or without an active visa, or more than 90 days ago, an investor's visa and a stamp on entry into the territory of Spain during the term of the investor's visa. Confirmation of the fact of preservation of investments (in this case - confirmation of existing property rights to the acquired property in Spain). These are the same two documents as when applying for an investor visa:
& # 8211; Certificate from the Register of Owners (Registro de la Propiedad), issued not earlier than 90 days prior to application for residence permit.
& # 8211; The original of the notarial contract of sale, confirming the investment in real estate in the amount of not less than 500 000 euros, free from encumbrances.
Confirmation of the fact of the fulfillment of tax obligations (payment of taxes on the acquisition of real estate). Certificate of the NIE.
Is it possible after the purchase of real estate to immediately apply for a residence permit, being in Spain on a tourist visa?
In no case. First, an investor visa is requested and only after receiving it you can request a residence permit for an investor. To obtain a residence permit, it is required that the applicant at least once use the investor's visa.
What are the advantages of a residence permit for an investor before a residence permit without the right to work (visa D)?
The main advantage is that the new law does not obligate the recipient of the residence permit of an investor to spend at least 183 days a year in Spain for the possibility of extending the residence, as in the case of obtaining a residence permit without the right to work (visa D). This allows you not to become a Spanish tax resident.
The term of consideration of applications for the residence permit of an investor has been reduced to 20 days, compared to a lengthy procedure for checking documents for residence permits without the right to work (from 2 to 6 months).
The initial residence permit of the investor after expiration of the investor visa is issued (July 30, 2015) for a period of five years, and the residence permit without the right to work - for one year.
The procedure for family reunification can begin at the same time as submitting documents for the residence permit of the investor. In the case of a residence permit without the right to work, one must wait one year.
Is it possible to extend the residence permit of an investor?
The residence permit of an investor can be renewed every five years without any restrictions.
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