Spain granted the Golden Visa to non-EU citizens in September 2013 (Ley 14/2013, de 27 de Septiembre, de apoyo a los emprendedores y su internalización) , carring out investments, like purchasing of Spanish real estate of at least 500.000 € (investment in multiple properties and co-ownership allowed). We have a wide range of Moraira property.
The Golden Visa is expected to attract a large number of investors, especially from UK, Asia & Middle East.
Brassa Homes® has qualified sales advisors who can help you to find the best property for you.
The investment activity must be performed before the application and maintained for a minimum period of 5 years after the residence permit is granted.
Duration of golden visa or residence permit in Moraira and Spain:
The investment will provide visa for at least one year and allows you to live in Moraira permanently, if you like.
The golden visa is then renewed for 2 successive periods of two years, provided that the requirements of the investment activity are maintained, and the applicant must:
1. Be in possession of a valid golden visa or one which expired less than 90 days ago.
2. There is no minimum stay period in Spanish territory, but the holder of the Spain Residence Permit must travel at least once to Spain, during the period preceding each renewal.
3. Sustain the investment.
Applications from individuals with criminal record will be rejected.
The decision to grant a golden visa will be resolved and applicants notified within a period of 10 working days, in case of Spain Residence Permit must be taken by the competent authorities within 20 days after the submission of the application, which must include evidence that the financial or real estate investment has already been completed.
Brassa Homes® in Moraira has established arrangements with the most qualified professional to provide a consulation service for the obtaining of a golden visa or residence permit, and they will advise you during every phase of the application process.
THE KEY TO ACCESS EUROPE - Family and mobility benefits in Europe
Travel freely, without a golden visa, to the Europe Schengen Area. The holders of a Spanish Residence Permit (Golden Visa) will not require golden a visa to enter the Europe Schengen Area. They can transit and enjoy free movement in the Schengen Area for a maximum period of 3 months (90 days) per half-year form the date of first entry.
Other countries which do not belong to the Schengen Area but which guarantee the free movement of persons are: Andorra (required to show passport together with the golden visa or residence permit), Monaco, San Marino and the Vatican City.
Golden Visas and residence permits apply to both the spouse of the applicant and their children under 18.
I would like to invest in Moraira, Spain, but I don’t know about the Legal or Tax aspects related.
Brassa Homes® in Moraira collaborates with firms of independent Spanish lawyers with both knowledge and experience in foreign investment by individuals or companies.
Brassa Homes® safely guarantees that these firms will provide the best legal and tax assistance to solve every aspect and all the paper work required during the entire process of the property or financial investment.
In the case of investing in property, must be free of mortgage?
Not necessarily, as long as the contribution of private funds is over 500.000 €. This means you can buy a property with a mortgage as long as the difference between the purchase price and the mortgage is over 500.000 €.
It may be the case you purchase a property that does not have an existing mortgage. If this is the case, as the future buyer you can take out a loan and mortgage the property yourself, as long as this still results a personal investment of 500.000 e in addition to any loan.
Having a Spanish residence permit entitles me to healthcare in Spain too?
The granting of a golden visa or a residence permit does not entitle social or health benefits.
You will need to have private health insurance in order to receive the benefits without being subject to higher charges.
Can I transfer my money from anywhere in the world?
Yes, but you should be able to provide evidence as to the source of funds to demonstrate that come from clean sources and are not involved in criminal or illegal activities.
Also, if the fund comes from a tax haven, a declaration procedure should be performed in advance in the "Register of Investors', a specific department of the Ministry of Economy in Spain.
Why invest in Moraira, Spain?
The Spanish economy is facing many challenges, ideal circumstances for great investment opportunities and Moraira is one of the top upmarkets areas, with many opportunities:
1. An internationalized economy : one of the largest economies in Europe and important internationalized Spanish companies are already world leaders .
2. A macroeconomic situation marked by structural reforms , especially fiscal and labor, that encourage investment.
3. Potential of Spanish domestic market, with more than 47 million people worldwide leadership in the tourism sector , the second country with the greatest benefit , behind the United States. The gateway to Europe, Africa market ( the Canary Islands as a commercial hub) and Latin America , a market in Spain is the third largest investor under Netherlands and the United States (2011).
4. The business climate marked by the qualification of human capital, labor cost competitiveness and quality of infrastructure.
5. Business opportunities, and the potential of renewable energy , biotechnology , aerospace and automotive industry , logistics and transport , environment and water treatment .
Do not forget the superb quality of life: a rich historical and cultural heritage, world-renown gastronomy, an exceptional climate and more than 8.000 kilometres of coastline.
Is it the best moment to invest in Moraira property through the Golden Visa?
Prices are expected to fall by 5% next year. However, this price drop is not reflected in the absolute value of the properties because the best transactions are being made now taking advantage of the fact that the best properties on the best locations are coming out to the market and, logically, those are the first being sold due to their good quality/price relation. For these reasons now is the right moment to invest in Spain.
Other alternatives to obtain a Visa & Residence Permits in Moraira
The law grants residence visa concession to foreign investors that comply with the following requisites:
1. Buy a property with a value equal to or more than €500,000
2. Acquiring Spanish Debt Bonds of at least 2 million € (Major shareholders of foreign companies who invest in Spain may individually obtain the Golden Visa.)
3. Capital transfer of at least 1 million € into the Banking system or Spanish companies.
4. Creation of a Business venture leading to job creation, local economic development or scientific-technological contribution. In this case, it will be necessary to show an affirmative report issued by the ‘Dirección General de Comercio e Inversiones’, Spain’s Directorate-General of Trade and Investment of the Ministry of Economy.
If you have a specific interested in relation to Spanish Residence Permits / Golden Visas in Moraira, feel free to get in touch with us.
This information is for general reference only, and should not be used as substitute for professional legal advice.
