Based on a 10 years of International Legal experience, on our extensive knowledge of the financial and legal system of the areas where we are based and due to the highest quality of our professional and business network , we are no offering a brand new Legal and Taylor made Services.
1-For individuals we are in position to secure Permanent Residence and Working Visa in :
- Canada ( No restrictions whatsoever)
- Italy (This would apply only for non EU national)
- Egypt ( No restrictions whatsoever)
2-For individual investors and/or Corporate Companies we are in position to secure Permanent Residence and Investors Visa in :
- Canada ( No restrictions whatsoever)
- Italy (This would apply only for non EU national
- Monte Carlo- Monaco ( This would apply for any national, except French Citizen)
- Spain ( This would apply only for non EU national)
To find more about any of the above mentioned application procedure, do not hesitate to contact us at email@example.com- 0033 646 396006- 002 012 00137 367
The main conditions and requirements granted by the New Spanish Law for Investors Visa and Permanent Residency
Global Investments GIC's insight:
Legal requirement for the New Spanish Residency Permit
Everything you need to know about the new law offering qualified Spanish residency in return for investing in Spanish real estate (the so-called “Golden Visa” law), and how to use a property investment to get Spanish residency as a non-EU national.
Spain is introducing a new law to encourage foreign entrepreneurs to invest in Spain.
The objective of the law is to stimulate foreign investment in Spanish real estate, public debt, and job creation. It is also intended to stimulate demand for Spanish property.
This law will enable non-EU nationals to get qualified residency permits in return for investing in Spanish real estate (and other assets), leading to permanent residency in Spain if certain conditions are fulfilled. The key points of the draft law are summarized below.
Spanish residency, and the ability to travel freely in Europe as a consequence, will be a major attraction for many non-EU investors. Added to which, Spanish property prices have crashed into bargain territory, creating some excellent investment opportunities. It’s an attractive combination of residency and bargain prices for investors from outside the EU.
But foreign investors should not let the residency permit distract them from the most important consideration, which is to invest wisely.
Once the law is passed, the residency permit will be just a formality for investors who satisfy the criteria, though investors should take care to hire professional legal help to make sure the understand the requirements before they invest. So investors should focus first and foremost on identifying the best investment opportunities. The residency permit will follow (assuming the application is done correctly, the criteria are satisfied, and the paperwork is in order).
It is a safe bet that residency permits will be used to market some toxic, overpriced real estate investments over the next few months and years. Non-EU nationals interested in residency should be on their guard.
Working with leading experts in immigration law, conveyance law, and property professionals, like us , helping you identify sound investments that satisfy the residency criteria, and putting you in touch with all the people you need to help you achieve your goals of investing your money wisely, getting residency in Spain, and avoiding the cowboys.
Types of residency permits under the draft law
Here’s how it works:
Residence visa for investors (year 1) The first step for investors will be to apply for an investment visa that allows them to live in Spain for at least one year. There is no obligation to spend a minimum amount of time in Spain in this period.
This visa will be authorised in Diplomatic Missions and Consular Spanish Offices and can be issued for one, two or multiple entries into Spain.
These visa applications shall be processed and notification sent within 10 working days, except in case of applicants subject to prior consultation.
Residence authorisation for investors (years 2 to 5 or more)
Once an investment has been made, and after the first year, investors can apply for authorisation to live in Spain for two years, renewable for another two years after that (and on), so long as the investment threshold of €500,000 is maintained (see below).
There is no limit to the amount of times this two-year residency can be renewed.
Properties can be bought and sold during this period, so long as the investment threshold is maintained.
There is no obligation to spend a minimum amount of time in Spain, so investors can remain tax resident outside of Spain, whilst benefiting from Spanish residency and the freedom of unlimited travel and stays in the EU.
Processing and granting the residence will be done by the Spanish Ministry of Foreign Affairs.
Applications will be responded to within 20 working days from the submission of the application. If there is no answer in this period, the application shall be considered as accepted.
Long-term residence and Spanish nationality (Year 5 onwards, optional) After five years of continuous residence, investors can apply for permanent residence in Spain.
Likewise, after ten years of residence, Spanish nationality can be requested. In such cases, an effective justification of at least six months of residence must be provided, (unless due cause exists).
The investment threshold for real estate is €500,000 or more per investor.
To apply for residency, proof of the investment(s) must be provided with a Property Registry filing (certificate). If this certificate is not yet available, then the notarised deeds and proof that the deeds have been submitted to the Property Registry must be provided.
The investment can be comprised of:
One or several properties.
Of a residential, touristic, rural, commercial or industrial nature
Rural land, developed land, buildings under construction, or decrepit buildings
Investors must use at least €500,000 of their own funds, which must come from transparent sources that comply with existing legislation on money laundering and so on. Above that threshold there is no limit to debt financing, for instance with a mortgage in Spain.
Use Restrictions There are no restrictions on property use. Investors can use the property in anyway that is legal according to planning permission, zoning laws, and so on.
Company Ownership You can make the investment through a company so long as it is not based in a tax haven and you have control of the company.
Other investments that also qualify for residency:
- Two million Euros in Spanish government bonds - One million Euros in stocks or shares of Spanish companies, or bank deposits in Spanish banks.
Other administrative requirements
Not to have entered or stayed illegally in Spain, or been refused entry into any Schengen countries
18 ears or older
No criminal record
Not listed as undesirable in Spain
Public or private health insurance valid in Spain
Economic resources to support the applicant and dependents
The main Conditions and requirements in order to apply for an Investors Visa or for the residency in Monaco
Global Investments GIC's insight:
RESIDENCY CARD & INVESTORS VISA IN MONACO
There is no restriction for the applicant based on their nationality as long as they have not been listed by Interpol.
- The first and main requirement would be to obtain from a bank in Monaco a certificate establishing the financial good health of the applicant. In order to obtain such certificate, the applicant must transfer into a bank account we would have previously open for him in Monaco a minimum amount of 300 000 €.
(Depending the applicants nationality and occupation some complementary information may be requested to justify the source of the funds.)
- This sum will not be blocked and can be withdrawn by the applicant at any stage, (obviously if it is withdrawn before the approval of the bank certificate this would blocked the application procedure). As soon as the residence is granted, the applicant will be able to withdraw the money and relocate it wherever he wants. Since local banks are offering very high interest rate, we would advise our client to maintain the funds there.
- The applicant would have to attend IN PERSON two meetings in Monaco :
1) First meeting for the introduction of the client to the bank
2) Second meeting at the Police of Monaco
- The second requirement would be to justify of a domicile in Monaco. In this case two options are offered to the clients :
1) Purchase a real Estate Property in Monaco. Due to the extremely high price of Real Estate in Monaco most applicants prefer to go for option 2. However if any applicants wish to purchase a property in Monaco we could introduce him to some of the most established estate agents and follow the legalities of the transactions on behalf of the client.
2) Rent an apartment in Monaco. Once again we would introduce the clients to some estate agencies, source the property for him and take care of all legalities on its behalf. MORE INFORMATION ON THIS SPECIFIC PROCEDURE WOULD BE PROVIDED TO THE CLIENTS UPON RECEPTION OF A LETTER OF INTENTION FROM HIM OR ANY OF HIS APPOINTED AGENTS.
From our side, we would take care of the entire legal representation of the client, this would start by selecting a few number of banks based on the client profile, prepare for him the application file, organize and attend with him the introduction meeting and follow up afterwards all the steps of the opening of the bank account.
On the same time we would take care of preparing the application file to be submitted to the authorities. We would as well organize and attend with the client meeting with the police.
In a third time we would also take care of the real estate domiciliation of the client whether through the purchase or the renting of a Property in Monaco. By doing this, we would select and deal on behalf of our client both with the estate agents, vendor/owner and as well with the local authorities.
Based on the extensive experience and most importantly based on the successful track record of our local correspondent in Monaco we are able to guarantee the approval of such Residence visa, as long as the applicant would fulfill the three main conditions listed above ( not being listed as criminal by Interpol and not being considered as a persona non grata in Monaco- depositing 300 000 € that can be legally justified in a local bank account- rent yearly a studio or any other property of his choice in Monaco)
The overall cost to obtain such Residence will amount to 20 000 €, including our legal fees and all relatives expenses to pay locally.
The applicant will also need to add the cost of the yearly rental of a Property in Monaco, if the applicant chose Option 2. For example the yearly amount of a rental for a studio in Monaco is around 20 000 €. (It is not necessary for the Applicant to leave permanently in the premises)
The payment plan to be forecasted by the client is the following
- Upon opening of the file, we would require payment of the first half of the fees for 10 000 €. ( in the event the application of the client was refused for another reason than the above mentioned one, the fees would be refunded to the client)
- The amount corresponding to one quarter of rent to exchange contract with the vendor- the deposit for such property ( usually one month) and the commission of the estate agent ( also usually one month)
- Once the Residence is granted we would require the second half of the fees for 10 000 €.
The overall procedure can be completed within more or less one month depending the client availability to attend the meetings and transfer the funds into the bank account.
6 Boulevard Victor Hugo- 06000 Nice
Phone: +33 493 87 5599
Fax :+ 33 493 1603 21
Mobile: +33 64639 6006
Sheraton Road – Wahib Building -4th floor Apt 25- Hurghada Red Sea
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