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GENERAL INFORMATION ABOUT VISAS FOR INVESTORS IN SPAIN

Investors A visa or residence permit can be applied for by foreigners who are not resident in the EU who make a significant capital investment in: 1. Financial assets, making an initial investment for a value equal to or greater than:
  1. Two million euros in Spanish government bonds, or
  2. One million euros in shares or social participations of Spanish capital companies with a real business activity, or
  3. One million euros in investment funds, closed-end investment funds or venture capital funds incorporated in Spain, included within the scope of Law 35/2003, of 4 November, on Collective Investment Institutions, or Law 22/2014, of 12 November, regulating venture capital entities, other closed-end collective investment entities, amending Law 35/2003 of 4 November 2003, or
  4. One million euros in bank deposits in Spanish financial institutions.
2. Acquisition of real estate in Spain with an investment of value or greater than 500,000 euros for each applicant. 3. Business project must provide a favorable report that must be obtained prior to the application for the visa or residence permit and for the issuance of said report must submit:
  1. Business Project Report Request Form.
  2. Copy of National Identity Card or Passport.
  3. In the event that the application is not submitted by the applicant himself, the supporting document authorizing the representative to present the documentation in his place will be attached, accompanied by the ID or Passport of the Representative.
Types of permissions • Visa: when the applicant is outside Spain, he will obtain a permit to, if he wishes, reside and work throughout the national territory. The term of the permit is 1 year, except for the acquisition of real estate through a deposit contract that is 6 months. After one year, you must apply for a residence permit. Once the deposit contract has been formalized, you must apply for a visa or residence permit. • Residence permit: when the applicant is legally in Spain, he will obtain a 3-year permit to, if he wishes, reside and work throughout the national territory. Investor-specific required documents: Financial assets, you must prove that you have made the investment in the minimum amount required as follows:
  1. In the case of investment in unlisted shares or social participations, the copy of the investment declaration made in the Investment Registry of the Ministry of Economy, Industry and Competitiveness shall be presented.
  2. In the case of investment in listed shares, a certificate from the financial intermediary, duly registered with the National Securities Market Commission or the Bank of Spain, stating that the interested party has made the investment for the purposes of this standard, shall be presented.
  3. In the case of investment in public debt, a verified of the financial institution or the Bando of Spain will be presented in which it is indicated that the applicant is the sole owner of the investment for a period equal to or greater than 5 years.
  4. In the case of investment in investment funds, closed-end investment funds or venture capital funds incorporated in Spain, duly registered with the National Securities Market Commission, stating that the interested party has made an investment of at least one million euros in a fund or funds under its management.
  5. In the case of investment in a bank deposit, a certificate from the financial institution stating that the applicant is the sole holder of the bank deposit shall be presented.
Investing as a company The investment in Financial Assets or Real Estate is made through a Legal Entity (company), domiciled in a territory that is not considered a tax paradise under Spanish regulations. • Specific documents: Report proving that the applicant for the visa or residence permit has, directly or indirectly, the majority of its voting rights and has the power to appoint or dismiss the majority of the members of its administrative body.

SERVICES INCLUDED FOR OBTAINING THE INVESTOR VISA

. Wide real estate offer through BC Real Estate

. Investment proposals in business projects.

. Legal advice through Iuris Fintech.

. We accompany you through the entire investment and visa application process:

– We examine the legal status of the property and the developer or seller, and report any issues that may affect the decision or terms of purchase.

– We will contact and negotiate with the seller and their lawyers the terms and conditions of the purchase contract and ensure that it complies with applicable law.

– We make the necessary preparations at the notary to complete the purchase smoothly, such as the preparation of powers of attorney (duly legalized and translated) to be able to act on behalf of buyers if they are abroad.

– We ensure that property titles are correctly registered in the correct local land register and that the property is free of all costs and charges, free of tenants and up to date with the payment of relevant taxes associated with the purchase.

– We make sure you receive a NIE number (Foreigner Identification Number) or the tax identification number of foreigners.

 TURNKEY

– Start-up and contracting of supply and other services.

– Decoration and household items for immediate use.

ADMINISTRATION

Maintenance, seasonal or annual lease of the property.

TAX AND ADMINISTRATION

INCOME TAXES

The possession of goods in Spain entails a series of tax obligations. As a non-resident in Spain, you must pay annual taxes on your property, even if you do not rent the property.

The declaration must be made by owner and by dwelling. Dependencies with a separate cadastral number must also be indicated.

If you do not rent, a fixed rent of 1.1% will be charged on the cadastral value of your property. On this income, the Spanish tax authorities will collect a tax of 19% for EU residents and 24% for non-EU residents.

The declaration must be made annually by December 31 of the year following the year in which the owner was the owner. For example: if you had a property in Spain in 2017, the declaration must be made before December 31, 2018.

If you rent your property, the Spanish tax authorities will charge a 19% tax on your net rental income.

Deductions applicable on an annual basis in the return:

  1. IBI or cadastral income
  2. Garbage
  3. Insurance
  4. Community (annual)
  5. Any interest on a Spanish loan
  6. Commission intermediary (Agency)
  7. Invoices for work and furniture (10 years)
  8. Invoices

After deducting these taxes and expenses, you will receive the exact amount you will have to pay in taxes to the Spanish tax authorities for the rented period, per quarter.

As a natural person, you will have to pay taxes on the fictitious rental value again the following year. This is calculated in a calendar year minus the periods already indicated in which there was rental activity.

VISA APPLICATION

– Monitoring of the entire visa application process.

 

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