The residence and work permit granted through a real estate investment of at least € 500,000 in Spain provides the free movement right in 26 Schengen countries.
Residence and Work Permit Program Through Real Estate Investment
The residence and work permit granted through a real estate investment of at least € 500,000 in Spain provides the free movement right in 26 Schengen countries.
With the “Golden Residence Permit” adopted in 2013, you can also benefit from the opportunities such as residence permit, business start-up, work, health and education.
Following the 2-year residence permit, the Spanish Government grants the right to renew the residence permit every 5 years provided that the real estate purchased is not sold.
There is no obligation to reside in Spain. Such real estate can be residential or commercial, and it can also be rented out.
More than one real estate can be purchased provided that their total value will be at least 500,000 Euros.
The program covers the investor him/herself, his/her spouse and his/her children under 18. Children over 18 and parents who are financially dependent may also participate in the program.
In Spain, you only pay tax on your relevant rental income. Your income in other countries is not subject to taxation.
Meeting: Alternatives are offered according to your requests and requirements
Investment: A minimum investment of € 500,000 is made and alternatives are offered according to your requirements
Application: 2-year-valid residence permit is obtained (a waiting period of 4-8 months)
At the End of the 2. Year: It is renewed with the 5-year-valid residence permit.
In all these processes, it is compulsory that the real estate is held by the investor. The rights acquired are lost once the real estate is sold.
Conditions:
Real estate investment of a minimum of € 500,000 as determined by the Spanish Government
Transfer of the minimum investment amount to a bank from a country other than Spain
Getting the minimum investment amount without mortgage (It is possible to get credit for the amounts higher than the minimum investment amount)
Being a citizen of a country that is not a member of the European Union
Absence of criminal records of the investor and his/her family members applying for Golden Visa
REAL ESTATE SELECTION AND PURCHASING PROCEDURES
A potential real estate portfolio suiting your investment demands will be presented, you will visit the real estate with our representative in Spain, and all processes including purchase and title deed transactions will be organized.
ATTORNEY AND NOTARY PUBLIC PROCEDURES
The power of attorney procedures will be carried out through the law firm and notary public and all of the other legal and bureaucratic processes will be followed up. Our law firm will carry out all processes regarding the purchase of real estate and residence permits.
BANK AND TAX OFFICE PROCEDURES
After you provide the documents on the list of documents, your bank account will be opened during your visit to Spain, the coordination of relations with the bank will be ensured and your tax identification number will be obtained.
OBTAINING A RESIDENCE PERMIT
After completing the title deed procedures, your fingerprints will be taken and our attorneys will apply for a residence permit for you. Your application process will be followed up by us without the necessity for you to come back to Spain.
MAINTENANCE AND UTILIZATION OF YOUR PROPERTY
When necessary, renovation, renting and maintenance services will be provided for your property in Spain. Your property will be rented so that you can earn income from your property, and the relations with the tenants will be handled. A separate offer will be given upon request.
Program Amount:
Attorney service for the purchase of real estate
Attorney service for Golden Visa applications
Costs of power of attorney to be issued for the attorney for applications
Obtaining a tax identification number
Opening a bank account
Notary public fees for purchase of real estate and powers of attorney
1-year minimum health insurance required for a family of 3
Golden Visa applications for a family of 3
2-year Golden Visa fees for a family of 3
Obtaining a tax identification number
Other expenses such as VAT difference (VAT is 21% in Spain)
Vesta Global service fee
10.00% + VAT over the sales price for a real estate investment of € 500,000
8.00% + VAT over the sales price for a real estate investment of € 1,000,000 and above
Payment Method:
20% – before visiting Spain
60% – on the 3rd business day following the title deed transfer
20% – on the 3rd business day following the Golden Visa application
Taxes:
Real estate purchase and sale tax varies between 6% and 10%
Stamp tax of 0.25%
The annual real estate tax varies by region (ess than 1%)
Tax of income from rental of 24%
List of Necessary Documents:
Civil registry extract (to be translated in English, notarized and Apostille affixed)
Bill (a government agency, telephone or GSM bill) indicating the residence address and the name of the applicant
Marriage certificate (to be translated in English, notarized and Apostille affixed)
SSI (Social Security Institution) Payroll Document or SSI Pension Document (to be translated in English, notarized and Apostille affixed)
Criminal record (to be translated in English, notarized and Apostille affixed)
A document showing that the investor himself/herself has minimum € 27,000 and his/her family members have minimum € 6,000 in their bank accounts
Valid health insurance for the investor and his/her family members to apply for Golden Visa
A medical report proving that such persons do not have the diseases included in the list determined by the World Health Organization
A signed and stamped document obtained from the relevant university which indicates the children’s department and year of education in such university (for those children who study)
Passport (must be stamped when entering Spain)
4 pcs of biometric head shots of 4×6 shot without glasses
A document showing that the investor himself/herself has minimum € 27,000 and his/her family members have minimum € 6,000 in their bank accounts
Valid health insurance for the investor and his/her family members to apply for Golden Visa
A medical report proving that such persons do not have the diseases included in the list determined by the World Health Organization
