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Property Focus Life in Spain Buying Property

Tue 4 May 2021

 GOLDEN VISA



  • What a Golden Visa is?

This VISA or INVESTORS VISA is intended  for investors buying in real estate properties in Spain with value equal to or greater than 500,000 Euros per each applicant. (with ability to rent it).

Allows the applicant to travel freely in all Schengen zone countries; to work and live in Spain. immediate family members can also be included in the application along with dependents under 18 years old.

  • Criteria and Requirements:
  1. Buying one or more properties for a minimum of 500.000€ from own funds. Mortgage can be taken out if clients want to buy a more expensive property however,  the minimum mentioned amount has to come free of any loan or mortgage.
  2. Due to Marital Status in the UK and unless clients can invest for a 1M €, the property should be bought just in one spouse name otherwise, they will not be entitled to obtain this VISA. In this case, the application for GV will be in the investorĀ“s name as main applicant and the spouse will be included as a immediate family member.
  3. Applicant needs to proof a balance of at least 26.000€ through a Bank Certificate and 7.000€ more per dependents.
  4. They need to take a Private Medical Insurance.
  5. Criminal Records for the last 5 years.
  6. The applicant does not have to live in Spain but visit Spain at least once a year.
  7. Properties bought from 2014 can be included in the application. That is, if a client paid for a house in 2014 300.000€, buying a second one for 200.000€ will entitle him/her for this VISA.
  8. The first application is valid for 2 years and the renewal will be for 5 years more.
  9. We can apply for this VISA in Spain with PoA

 

NON-LUCRATIVE VISA

  • What is a NLV?

This VISA is intended for retired people who would like to spend most of the year in Spain and it is a permit of Residency.

  • Criteria and Requirements:
  1. The application for the first year has to be done in a Spanish Consulate.
  2. Once it is approved you have a month to come to Spain and obtain your TIE (Identity Card for Foreigners)
  3. We can help you with the application of this TIE
  4. After the first year we can renew this VISA which will be valid for 2 years with PoA
  5. Applicant needs to proof a balance of at least 26.000€ through a Bank Certificate and 7.000€ more per dependents.
  6. They need to take a Private Medical Insurance.
  7. Criminal Records for the last 5 years.
  8. Unlike the GV, applicants for this VISA will become Fiscal Residents and will need to pay tax in Spain.

      This information has been provided by mjose@fuster-associates.com.  April 2021

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