《Golden Visa》.pdf

Welcome to The “Golden Visa” and investment in Spain? Introduction: The “ Golden Visa” in Spain Residence Permit through Investment In September 2013, Act 14/2013 Spain introduced the “Golden Visa” .This does not apply to EU residents in the UK. To be eligible for a Resident Permit in Spain clients need to demonstrate 500,000€ investment in real estate per applicant. This can be achieved by investment in one or more properties. In order to obtain the Visa the investor must meet certain requirements such as having sufficient economic resources to live in Spain, health insurance and no criminal records. Spanish Visas for Non-EU Foreign Property Investors Obtaining a residency permit for Spain by investing in real estate assets valued at €500,000 or more has become possible for non-EU foreign nationals with the so-called Golden Visa. The Spanish government recently passed Law 14/2013 that seeks to encourage international investment and new business initiatives. The new law was officially published on September 28th 2013, and came into force on September 30th 2013. A detailed study of the new law would include the tax, financial and regulatory aspects of it, but of more immediate interest for real estate buyers will be the sections that regulate how to obtain a residence permit when investing in property in Spain. The new law essentially means that non-European Union citizens could be entitled to obtain a Spanish residency permit if they are prepared to carry out a significant capital investment in Spain and meet other basic requirements as listed below. . Cont’d: For the purposes of this law, significant capital investment may be understood to mean a minimum amount of €500,000 (per person) i.e. the minimum amount that an individual must invest on real estate is €500,000 excluding loans, mortgages or any other encumbrances. In the case of joint ownership (for example a married couple), the minimum