Buying
Thursday, 03 December 2015 10:24

Spain's Golden Visa for Non EU Residents

Spain Visa

Spain has passed a law to allow investment from citizens of non EU countries to become residents of Spain via the “Golden Visa.”  This visa is obtainable if the investment into property is of 500,000E or over. The investor is allowed to purchase more than one property, commercial property or land to arrive at the figure of 500,000E.  With no specific requirements the investor is able to lease their property for personal or commercial use.  

Initially the non EU resident must apply for a visa which then allows them to live in Spain for one year.  Click here for the Schengen Visa

The investor must be able to show that they may have visited the country at least once during the time period. Immediately after the investment has been finalised, and before the 1st year’s visa has expired.  Investors may submit an application for a residency permit that enables them to live in Spain for 2 years or 24 months, this is renewable for another two years from that period as long as the 500,000E investment is maintained.

The investor after 5 years residence in Spain can submit an application for a limit-less residency in Spain. After a 10 year period the investor is eligible for Spanish citizenship as long as there is 183 days a year spent in Spain.

ESSENTIAL RULES OF SPANISH INVESTMENT VISA:

1. The minimum investment must be at least €500,000.

2. On top of the purchase price you need to add 11 - 12%, which goes to the normal purchase costs, which includes, tax, stamp duty, VAT, notary and lawyer.

3. Investments may be spread over several properties for a total purchase price of at least €500,000.

4. You can do your investment via a foreign company if you can prove that you own the majority of this company.

5. There is a certain flexibility to borrow part of the money you need from your home country or from a country outside Spain.

6. Spanish residence visas may be issued to the immediate family, including spouse or non married partners.

7. Spanish residence visas may be issued to children up to 18 years, economically dependent adult children and economically dependent parents.

8. The act also includes your children over 18 years old who, due to health issues, are not objectively capable of looking after themselves..

9. There is no requirement for minimum stays ordering to renew the visa. This means that it is optional to stay in Spain.

10. The Spanish visa does not need to be renewed within five years.

11. As there is no law on minimum stay is not necessary to be tax resident.

12. Permanent residence will be granted after five years if you have followed the rules.

13. Your property investment can be sold after five years when you have achieved permanent residency.

14. The visa allows access to unlimited travel throughout the EU Schengen visa countries.

15. You can obtain visas from the moment of signing the contract of sale (unregistered deeds).

16. The official documentation for investment visa will not take more than ten, maximum 15 working days hereafter.

17. The first card is issued for two years but the next 5 years if the investment is held.

18. You and your family which is covered under the Golden Visa will have the right to work in Spain from the first day.

19. Refusal of Spanish investment visa will usually only be justified by an unclean criminal record.

20. Spanish citizenship will be given after an additional five years of permanent residency.

21. The applicant must be able to prove that having travelled to Spain at least once in the first two years, and once more in the three subsequent years.

22. While a Spanish citizen you automatically get an European citizenship.

23. Immediate after the property purchase is registered in the Notary you and the involved family can work in Spain. After 5 years, the family can live, work or study anywhere in Europe within the EU.

24. A recommended lawyer will take care of the application for residence, and the full Golden Visa program, residence for the family, etc. The totally cost for this is approximately €1,700 + 21% VAT.

25. If the same lawyer takes care of both the property purchase and the application for the Golden Visa residence, you will be able to save the above mentioned cost.

THE APPLICANT MUST MEET THE FOLLOWING REQUIREMENTS:

1. Not to have entered or stayed illegally in Spanish territory.

2. Have to be 18 years or over.

3. Not to have been refused entry in any of the Schengen countries.

4. Have public or private health insurance authorized to operate in Spain.

5. Have sufficient economic means to cover personal and family living expenses.

6. Proof of the investment must be made through a Registry of Property certificate attesting ownership. Or, if the ownership title is not yet registered, via a copy of the acquisition public deed and proof of filing the deed in the Registry.

Published in Blog
Saturday, 21 March 2015 12:35

Buy a Business

Buy a Business

Purchasing A Business in Spain

Buying a business in Spain is a relatively straightforward process, particularly if you are well advised and are dealing with professionals with first hand experience in the market. Here at Business Broker Spain, our management between them have more than 25 years experience in the sale of businesses in Spain. We doubt sincerely whether there is another agency with this level of expertise. From the sale of their first Spanish business in 1990, our Directors have advised in the sale and purchase of literally thousands of small and medium businesses throughout Spain. As a buyer you have no fee to pay us, all of the businesses that we sell are commission inclusive with all of our fees being paid by our vendor client’s.

Business Broker Spain offers impartial advice and helps you through every step of the process, and the golden rule we tell all clients is this “If you wouldn't do it in your own country, don't it here”
Many people forget to use their brains, or actually leave them on plane!   Our role is simple, we provide you with sound advice and recommend quality legal representation if needed to help you avoid the pitfalls.

Buying a Business in SpainOur services to buyers include all of the following and more!

Personal Guidance and Viewings

Business Planning

Supplier Negotiations – if you are buying a bar or a restaurant, you will want to make sure that you get the best terms from your suppliers. Our contacts and expertise will ensure that you can buy your products at the best prices thus making certain that you run your new business as profitably as possible.

Lease Negotiations – we will negotiate favourable lease terms with the landlord of your business where the business to be purchased is in rented premises.

Conveyance Introductions – it is essential that you obtain good legal representation and from someone that speaks your language.

NIE Numbers – in Spain we each have individual financial identification numbers, much like your Social Security numbers in the UK. For foreign nationals this number is called your NIE (Numero de Identification de Extranjeros), once allocated this number is with you for life and is both your VAT registration number and personal ID number. You will need this number prior to opening your new business and an important part of our services to new buyers is to guide you through the simple process of acquiring it.

Guide to Purchasing a Leasehold Business

Firstly obtaining finance from a bank to purchase a leasehold is very difficult in Spain unless you are can to guarantee the business against a property. The agreed price you are paying for the leasehold is paid in full on signing of the purchase contracts and the lease agreement with the landlord.  In normal circumstances a deposit of € 8,000 or 10% (whichever is higher) is payable. The deposit secures the business and it is non returnable.  Completion of purchase can be done within 10 to 14 days.

Standard Length of Leases

The normal lease length is 5, 10, 15 or 20 years, on a rolling contract.

You have an automatic right to renewal of the lease providing you pay the rent on time and keep within the terms of the lease.

During the Lease

• Payment of the agreed rent on a monthly basis will be made.
• The business can be run in accordance with the terms of the lease (i.e. as a bar or shop).
• Refurbishment of the premises can be made to the décor etc., but any structural work permission from the landlord will be needed.
• Utility charges are the responsibility of the leaseholder
• The landlord is responsible for external repairs.
• The rent will increase only by the rate of inflation each year
• On renewal of the lease, negotiations on a new lease price and term will commence approximately 2-3 months prior
• Upon renewing the lease you do not have to pay again for the business.

Selling the Lease

Normally you can sell sell the lease within a certain time frame of commencing your new lease contract with the landlord and the landlord will have in the contract that you will pay him a percentage of the price you sell for. Permission will normally have to be granted to sell from the landlord and he has the to agree to the new prospective tenant.

Freehold Opportunities

Purchasing a business freehold, it is exactly the same as buying a home in the UK, it's no different, you will receive the deeds to the property.  Obviously you then can lease your building, and generate an income from it.

Contact us now at

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