The E-2 is a nonimmigrant visa that allows investors from treaty countries to work in the United States through their investment in a U.S. enterprise. The enterprise must be bona fide and the investment must be substantial, meaning that the enterprise must be able to support you and your family within five years and your investment must be a significant percentage of the value of the enterprise. Also, you must be entering the U.S. with the sole purpose of developing the enterprise, so your E-2 investment shouldn’t be considered a side project. There is no official minimum or maximum investment amount, though the rule of thumb is that petitions for investments of less than $250,000.00 have a much harder time getting approved. Speak with your immigration attorney to see if your proposed investment is substantial enough and if your enterprise is bona fide. However, all of these requirements come second to the fact that you must be from a country that holds a treaty of trade and commerce with the U.S. E-2 Visa Treaty Countries To qualify for the E-2 visa, you must be a national of a treaty country. This means that if you are a legal permanent resident, you cannot apply. However, you do not need to be currently living in the treaty country. For example, if you are a French national living in Israel, you can petition for the E-2 visa even though Israel is not an E-2 visa treaty country. So, without further ado, here is a comprehensive list of the E-2 visa treaty countries in alphabet: Albania Argentina Armenia Australia Austria Azerbaijan Bahrain Bangladesh Belgium Bolivia Bosnia and Herzegovina Bulgaria Cameroon Canada Chile China (Taiwan) Colombia Congo Costa Rica Croatia Czech Republic Denmark (excluding Greenland) Ecuador Egypt Estonia Ethiopia Finland France Georgia Germany Grenada (You can invest $150000.00 to become a citizen) Honduras Iran Ireland Italy Jamaica Japan Jordan Kazakhstan South Korea Kosovo Kyrgyzstan Latvia Liberia Lithuania Luxembourg Macedonia Mexico Moldova Mongolia Montenegro (You can invest $350000.00 to become a citizen) Morocco Netherlands Norway Oman Pakistan Panama Paraguay Philippines Poland Romania Serbia Senegal Singapore Slovak Republic Slovenia Spain Sri Lanka Suriname Sweden Switzerland Thailand Togo Trinidad & Tobago Tunisia Turkey (You can invest $250000.00 to become a citizen) Ukraine United Kingdom Also, if you are bringing an employee over through the E-2 visa, that employee does not have to be from the same treaty country as you. You will need to file a separate petition on their behalf (also for any family members you bring) but generally, employees and family are granted the same period of stay as the principle E-2 investor, which is two years initially.
Once those two years are up, if you would like to remain in the U.S., you will need to file a new petition to extend your stay for an additional two years. Your employees and family members must do the same if they would like to stay as well. Make sure that you keep track of your period of stay so that you do not overstay your status while you wait for an approval for the extension. International business executives, investors, and important persons who are active worldwide consider an alternative citizenship and passport a powerful tool for international tax planning and a safety net should the living conditions at home become unbearable. The applicant and their family receive full citizenship and passports. Our associated attorneys are licensed to practice immigration law in the USA and can answer all of your immigration related questions. Get in touch for a free consultation
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The EB-5 visa for Immigrant Investors is a United States visa created by the Immigration Act of 1990. This visa provides a method of obtaining the "Green Card" for foreign nationals who invest money in the United States. To obtain the visa, individuals must invest a minimum of $1,800,000 (or $900,000 if in a "Targeted Employment Area" - an area of high unemployment), creating or preserving at least 10 jobs for U.S. workers excluding the investor and their immediate family. Investments can be made directly into a new or existing job-generating commercial enterprise, or into a "Regional Center" - a 3rd party-managed investment vehicle, which assumes the responsibility of creating the requisite jobs. Regional Centers may charge an administration fee for managing the investor's investment. If the foreign investor's application is approved, the investor and their dependents will be granted conditional permanent residence valid for two years. After two years the investor may apply for permanent residency (the "Green Card"). After five years of residency (conditional plus permanent) the investor may apply for U.S. citizenship. International business executives, investors, and important persons who are active worldwide consider an alternative citizenship and passport a powerful tool for international tax planning and a safety net should the living conditions at home become unbearable. The applicant and their family receive full citizenship and passports.
Our associated attorneys are licensed to practice immigration law in the USA and can answer all of your immigration related questions. Contact us for more details Madrid is the capital of Spain and the third expensive city if we speak about buying a property. The real estate market in the Community of Madrid stood out in 2017 for a slight increase in the price of housing (more than 5%) as well as for solid advances in new project launches that will surpass 37% to exceed 28,000 new homes. This new construction can be seen in neighborhoods such as El Cañaveral, Valdebebas, Sanchinarro, Puerta de Hierro, or Los Altos de Aluche. Fashionable districts Salamanca, Chamartín, Hortaleza Neighbourhoods with cheaper homes Ciudad Lineal, Vicálvaro, Barajas Price per m² = €2,827 Real Estate Market in Madrid Some studies suggest that 85 square meter apartments have the best reception among homebuyers in Madrid. The bulk of real estate transactions in this autonomous region usually consist of apartments with two to four bedrooms, a kitchen, a living room, and one or two bathrooms. The buildings, depending on the area, generally have six or seven floors, with more expensive homes on the higher floors. Chalets or private houses occupy a secondary position within the real estate market and tend to be located in outlying zones or towns. As noted before, the price of housing this year has increased more than 5% in the Community of Madrid. On average, a house of 85 square meters will exceed €200,000, considering that in the second trimester of 2017 the average housing price was set at €2,378 per square meter. All of this means that now is a good time to invest in the real estate market in Madrid, since the housing market is expected to continue to increase to around 15% in 2017, which will make relatively easy for buyers to find a home in the capital of Spain. sBest areas to live in Madrid
The Community of Madrid is made up of a central city, divided into several districts, and a number of outlying towns that, according to their zone, are better or worse communicated with the central capital city. Choosing where to live is a question whose answer depends to a large extent on the family, social, and working life of the buyer, as well as their economic status. In the central zone, the best areas to live are, for example, Salamanca, Chamartín, Hortaleza, Retiro, or Moncloa. The price of housing in these neighborhoods is quite high and it can be difficult to find homes available for purchase. More economical neighborhoods include Ciudad Lineal, Vicálvaro, or Barajas. Some less recommended neighborhoods would be Tetuán, Vallecas, or Usera. Madrid’s outlying areas are divided into a number of different zones, each divided, in turn, into smaller areas. The northern zone is divided into Tres Cantos, Alcobendas, and San Sebastián de los Reyes, among others. The northwest zone is divided into Pozuelo, Las Rozas, Collado Villalba, and Galapagar, among others. The area around the Henares Corridor is divided into Coslada, Torrejón de Ardoz, and Alcalá de Henares, among others. The southern zone is divided into Leganés, Getafe, Alcorcón, and Fuenlabrada, among others. The zone around the Cuenta del Tajo-Tajuña is divided into Rivas Vaciamadrid, San Martín de la Vega, and Aranjuez, among others. The Alberche-Guadarrama zone is divided into Navalcarnero, Brunete, and San Martín de Valdeiglesias, among others. As is habitual, the northern areas enjoy a higher economic level and higher housing prices. The remaining areas tend to be more affordable, especially those further away from the city center. For more details or to discuss your Spanish property needs please get in touch by completing the Contact form Permanent residency allows the applicant to live in Monaco as long as desired. After ten years in permanent residency status it is possible to apply for Citizenship. To receive the permanent residency card ("Carte de Sejour") all applicants have to show proof of accommodation. Proof of accommodation may entail acquiring local real estate OR being the director of a company that holds corporate real estate in Monaco OR providing a letter and proof of property ownership/rental from a close relative with whom the applicant plans to live in Monaco. In addition, all applicants must demonstrate financial self-sufficiency to live in Monaco. Financial self-sufficiency may be demonstrated by depositing at least EUR 500,000.00 into a local bank account in the applicant's name OR showing the applicant is employed by a Monaco company OR forming a new company in Monaco that creates at least ten new jobs OR providing a letter of support from a close relative with whom the applicant plans to live in Monaco. Monaco imposes no restrictions on foreigners opening bank accounts or owning real estate in the principality. Application processing can take between two to five months. Why Monaco? With its warm and stable climate and convenient geographical position Monaco is considered an attractive place for residence. With over 300 days of sunshine a year Monaco qualifies as one of the sunniest European locations. France borders the country on three sides while the other side borders the Mediterranean Sea. Monaco's most populous Quartier is Monte Carlo. Monaco is also known as a playground for the rich and famous due to its tax laws. In 2014, it was noted that about 30% of the population are millionaires. The state has no income tax and low business taxes. Monaco's mild climate, scenery, and gambling facilities have contributed to the principality's status as a tourist destination and recreation center for the rich. In more recent years, Monaco has become a major banking center and has sought to diversify its economy into services and small, high-value-added, non-polluting industries. Monaco is also the host of the annual street circuit motor race "Monaco Grand Prix". Advantages of Monaco Residency Living in Monaco Permanent Residency grants EU Nationals and Non-EU Nationals the right to permanently reside in Monaco. Once granted, the Monaco Residency Card ("Carte de Sejour") covers the whole family: eligible dependents include the spouse or partner in a long and durable relationship, children, and parents under certain conditions. Visa-Free Travel The Monaco citizenship offers visa-free travel to more than 160 countries in the world, including the USA, Canada, select countries in the Middle East, Africa, and Asia, as well as most countries in North, Central and South America. Fast Track Application Processing Fast track application procedure - all applications are reviewed by the Monaco government within approximately two to five months from the date of filing. Favorable Tax Structure Monaco levies no income tax, no wealth tax, no local tax, no property tax, and no capital gains tax on individuals. Corporate tax and inheritance tax are minimal in comparison to other countries. The absence of a personal income tax in the principality has attracted a considerable number of wealthy residents from European countries who derive the majority of their income from activity outside Monaco. No Donations Unlike other citizenship by investment programs, Monaco does not require any donations, i.e. non-refundable contributions to the government. High Standard of Living Monaco presents a very high standard of living due to its access to reputable private schools, trustworthy private medical facilities, and having among the lowest crime rates within Europe. Application Timeline & Payments
Step 1 - Contact Us. Please use our contact form to receive a detailed cost estimate for you and your family. There is no fee for this initial consultation. Step 2 - Document Preparation. During this step all supporting documents are collected, such as birth certificates, marriage and divorce certificates, as well as police clearance that must be submitted with the application. Further, the proof of accommodation and financial self-sufficiency are prepared. (Our team can advise you on unique/specific real estate searches or present investment options.) All application forms are completed. This step takes approximately two to three weeks. Step 3 - Introductory Meeting. At this step the legal team will together with the applicant review the entire application package and file the basic application forms. In this step the applicant will also be prepared for the official meeting in Monaco to follow in Step 4. Step 4 - Official Interview in Monaco. Approximately three to five weeks after submitting the application the applicant is invited to an official interview in Monaco. In this interview the applicant will be asked about their education, work experience, children (if any), their parents, and other family members. At this meeting all supporting documents, collected at Step 1, are handed to the Monaco government. Step 5 - Compliance Checks and Approval. At this stage the Monaco authorities will conduct all due diligence checks. This step takes approximately six to eight weeks to complete. After the conclusion of this step and upon approval of all documents the applicant receives his/her residency card ("Carte de Sejour"). Step 6 - Citizenship Application. Following ten (10) years of permanent residency, the applicant may file for Monaco citizenship if so desired. Turkish real estate presents foreign buyers with a paradox. The domestic market is slumping, as overinvestment plus a poorer performing economy hurt both prices and transactions, yet it's a favourite market with foreign investors. To be sure you buy a bargain with high return potential, look at areas that have a history of tourist development over the years, and you'll see much better, smaller scale developments as well as a good resale market. For instance, Bodrum is an area that's long been popular with both Turkish and foreign holidaymakers. That neatly hedges your bet, as you're not reliant on any single nationality. Such places like Burj al-Babas should be avoided, but you need to have your homework done – search for multiple properties and compare them, research infrastructure of the place, read reviews and of course check prices. Where to buy property in Turkey? Traditional holiday area is Hisaronu, popular with the British, where you could get a three bedroom apartment around €50,000, or a villa with a pool around €100,000. Hisaronu is a sought after area; prices are a bit cheaper in Fethiye, which has a strong expatriate community. Nearby Dalaman airport makes both areas easy to access. Buyers looking for a classy area at the top of the market should consider Kalkan, with its delightful old quarter as well as both mountains and beaches close by. Again it's well served by airports, with Antalya as well as Dalaman easily accessible. Here, one bed apartments sell around €40-65,000 while villas go for €500,000 plus. All these areas have a well established rental market. Yields can run around 4-5%, with a 12-18 week season. Pure investors might consider property in Istanbul - a 15 million population powerhouse with a young, well educated population. It’s the top destination point of all foreign buyers in Turkey, there are big expatriate communities from all over the world. But good research is crucial to find the right suburbs and developments. For instance, Bomonti and Bacsehir, once upcoming areas, may now have seen the best returns for investors, and you'll need to be smart to spot the next hot neighbourhood. You'll also find yields in sought after areas like Besiktas are low at just 2%. A holiday house probably makes better sense. And you’re never wrong buying some holiday home at the sea, Turkish vacation spots stretch from Aegean to Mediterranean coast and have something to offer to everyone – from Belek (well known for its golf fields) and Antalya to Marmaris, Bodrum and Kusadasi. Turkey is not famous for its ski resorts, but there are some that attract more and more visitors each year, among others you can choose Saklikent, Uludag and Palandoken. Advantages of buying home in Turkey The Turkish government has taken action to make foreign investment more attractive. For instance, the cost of the Golden Visa program has been cut from $1m to $250,000 (Turkish lira depends on dollar). That, together with the easing of some restrictions and reduction in purchasing costs, has helped boost foreign buyer numbers and bring in new sources of buyers; Iranians are very prominent buyers now, as are African, Gulf and Asian purchasers. Total foreign buying rose 80% in 2017 - despite a stagnant domestic market. So, why buy in Turkey?
Attractively priced property is a very good reason. Global Property Guide put Turkish city centre property roughly on a par with Spain and Portugal - but that was before the devaluation of the lira. At around €4,500 that's way below destinations such as the UK or France. The cost of living in Turkey is also cheap. Comparing prices, Turkey is on average 50% cheaper - but 60% cheaper when it comes to dining out! Add to this the soft lira, and you could get a huge bargain. it's fair to say that the weak currency reflects investors' perception of high political risk, and inflation remains stubbornly high - though if your income is in a strong currency, this won't bother you. But while the economic stats might put off a banker or a pure investor, if you're looking for a modestly priced holiday property, or looking to stretch your budget that bit further, Turkey is a market you really should look at. And if your nationality means the Turkish golden visa would improve your lifestyle options, a Turkish property could deliver a second passport as well as sun, sea, and an attractively low cost of living. For more details about Turkish property or the Golden Visa, please contact sales@primelandventures.co or complete the Contact form and one of our property consultants will get in touch Just a few years ago Greece was a country in deep crisis. Government finances were wrecked, and the economy was contracting. Now, it's over the worst, and the economy has been growing again since 2017 - which should be good news for the property market. After the crisis, Greece saw 7 years of falling house prices; prices in 2017 were 43% lower than when the crisis hit in 2008. New development practically stopped, and even now is only running at about half the level experienced during the boom years 2004-7. A quick look into property market in Greece Prices appear to be increasing fast. House prices rose 8.8% in the second quarter of 2019, according to the Bank of Greece, accelerating from 5.2% in the previous quarter. That's been driven by Athens and Thessaloniki, the two major cities, which have seen a massive increase in interest; as well as seeing prices rise, Athens has seen a big upswing in property transactions, 30% higher in 2018 than the year before - 2019 figures aren't out yet. Developers are back, in both the commercial and residential sectors. 2018 saw a 10% rise in the number of new building permits issued, after 7 years in freefall, and money is heading back into the sector. New five-star hotels have opened on Crete - one of Greece's more resilient local markets - as well as on Corfu, and other areas are now seeing more investment, too. Demand for holiday properties has been stimulated by growth in the tourist market - tourist numbers hit an all time high of 3.9m in July 2019. That's helping the islands, but is also increasing demand in Athens, where AirBNB has taken off dramatically in the past few years. Achievable yields for investors Finance remains tricky for individual borrowers, particularly those from outside the Eurozone. A mortgage is difficult to secure without both an impeccable credit record and a hefty deposit, and Greece remains vulnerable to interest rate movements, as most mortgages are only fixed rate for the first year. Currently, borrowers are paying between 2% and 3%. Rental yields in Athens and on Crete have been squeezed. Larger (eg three bedroom) apartments in Athens might attract a 4% yield; smaller flats do better, and in the suburbs, flats can secure 4.5%. Houses, on the other hand, have very thin yields right now. In Crete, apartments might rent for a 3% yield. Investors looking for good yields should consider the smaller islands instead; Mykonos produced an 8% yield in 2018, with Santorini and Paros both around 6.5%. On Rhodes and in Porto Heli, yields over 5% are still available, easily beating returns in other Mediterranean destinations such as Marbella, the French Riviera, or the Balearic islands. The Greek government has recently taken several actions to kickstart the property market. Value added tax of 24% on new buildings has been suspended for three years, and tax breaks of up to 40% for renovation costs have been announced. There is one slight concern about the Greek real estate market at the moment. It's foreign investors who are driving the market forwards - if they get cold feet the market could weaken. In the first 6 months of 2019, the Bank of Greece says foreigners invested EUR 736m in real estate, almost double the figure a year before - and more than 5 times the 2016 figure.
More than two thirds of this investment comes from other EU countries. But since 2013, the Golden Visa scheme has aroused interest from around the world, with China, Russia, Egypt and Turkey the major sources of demand. (With a EUR 250,000 investment enough to secure residence, Greece has the lowest cost golden visa scheme in the EU.) None the less, there's probably not too much need to worry if you're buying a property on one of the islands or in the Peloponnese. The most heated market, and the one where golden visa money has made the biggest impact, is central Athens. That particular market could well be overheated - though it's still very far below the prices of capitals like London, Paris, or Berlin - but for the moment, the rest of Greece looks as if it can continue its progress for a good few years to come, and the economic fundamentals underpin that analysis. Call +41 44 586 73 10 or email sales@primelandventures.co to discuss your Greek property needs or free advice regarding Golden Visa investments. If you are thinking of buying property in Barcelona, apartments with two bedrooms are easily rented, making them the best option. Barcelona has ten districts to choose from, with renovated modern apartments being highly sought after in the Eixample, Ciutat Vella, Gràcia, and Barceloneta districts. The Eixample neighborhood, for example, is considered one of the most fashionable neighborhoods in Barcelona, as it offers many restaurants, bars, shops, and supermarkets - all within a short distance. Ciutat Vella is the oldest neighborhood of the four mentioned and is also the most visited by tourists. The Gràcia district is considered one of the most bohemian areas of the city, full of students, young families, and retirees. Barceloneta has an extensive beach and the best seafood restaurants. It is only a 10- to 15-minute walk from La Rambla and is a holiday zone where many foreigners have their second home Average property price: € 2,128.3 per square meter Luxury neighborhoods: Pedralbes, Sarria-Sant Gervasi, Sant Cugat del Vallès Popular neighborhoods among students: Eixample (through social life, restaurants) Family neighborhoods: Les Corts, Barceloneta (with sea view), La Rambla, Gràcia Growing neighborhoods: Sant Antoni, Gracia Nova, Guinardó, Cornellà For high-end international investors wishing to establish themselves in the city or wishing to simply invest, Barcelona is very attractive. These foreigners find buying properties easy, with several real estate agencies which speak almost any language helping to obtain the necessary documentation. International investors should be clear that in Spain all taxes and expenses associated with the purchase of a property must be paid. If the property is new, the value-added tax (VAT) is applied. If the property is second-hand, capital gains, agency fees, and notary fees must be included. International investors can apply for mortgages at some Spanish banks, such as CaixaBank, Banco Santander, and Banco Sabadell.
As the economy recovers, studies show that in the coming years Barcelona will continue to be a popular investment point with a constant return on capital. If you purchase a property with a value of €500000.00 or more, you also have the added benefit of qualifying for a Spanish Golden Visa. Spanish Golden Visa The Spain Golden Visa Program encourages investors outside the EU to invest in real estate, job creation and public debts. Under the program, investors and their families are eligible to obtain temporary residency in a matter of months through minimum property investments of €500,000. The Spain Golden Visa Program is a true gateway to Europe, expanding your visa-free travel mobility within the Schengen Zone. This program allows the investor to consider residency acquisition as their first step towards permanent residency and citizenship acquisition if required. Further residency requirements will need to be met; after 5 years permanent residency can be obtained, and citizenship after 10 years living in the country. It is not necessary to live in Spain in order to retain and renew the residency visa permit. However, the route to permanent residency and citizenship requires the investor and their family to reside in Spain. The Spanish Golden Visa is an investment only route and does not require any contribution or donation to a fund. Call +41 44 586 73 10 or email sales@primelandventures.co to book a viewing or free advice regarding Golden Visa investments. The Greek passport is among the strongest in the world ranking eighth on the 2021 Henley Passport Index, with its holders enjoying visa-free access to 184 countries. This marks the third consecutive year that Japan has held the top spot. Singapore sits in 2nd position, with access to 190 destinations, and South Korea holds onto 3rd place alongside Germany, with both having a visa-free/visa-on-arrival score of 189. Slightly further down but still in the top 10, New Zealand is in 7th position, with visa-free access to 185 destinations, while Australia is in 8th position with Greece, with access to 184 destinations. The best passports to hold in 2021 are: Japan (191 destinations) Singapore (190) South Korea, Germany (189) Italy, Finland, Spain, Luxembourg (188) Denmark, Austria (187) Sweden, France, Portugal, Netherlands, Ireland (186) Switzerland, United States, United Kingdom, Norway, Belgium, New Zealand (185) Greece, Malta, Czech Republic, Australia (184) Canada (183) Hungary (181) Due to pandemic-related travel constraints, travelers from both the UK and the US currently face significant restrictions from over 105 countries, with US nationals travelling to fewer than 75 destinations. In contrast, UK nationals now have access to fewer than 70.
For advice on how to obtain Greek citizenship and furthermore the possession of a Greek passport, please get in touch for to book a viewing or free advice regarding Golden Visa investments. Due to its favorable location on the Mediterranean Sea coast, as well as a high level of innovation and technological development, Barcelona occupies the fourth place among the most exciting cities in the world. Besides, this city has a great business potential that is able to meet the expectations of future property investors. Therefore we provide you 10 reasons why it worth investing in Barcelona: 1. High quality of life in Europe. According to the European Cities Monitor, for the past 14 years Barcelona continues to consolidate its position as the best city for quality of life in Europe. 2. The best city for executives of the leading multinational companies. Barcelona is considered to be a leading European city for business due to its perfect location, along with the rapid technological development and excellent transportation connectivity to the main European cities. 3. Attractive location Barcelona lies in an exceptional area, namely on the Mediterranean coast, allowing you to enjoy its beautiful beaches 320 days a year. At the same time it is situated close to the Pyrenees, which beauty will take your breath away. In addition, the proximity of the international airport is another great advantage. 4. Entrepreneurial spirit of the city The capital of Catalonia, Barcelona, provides available business services in the Entrepreneur Assistance Office for both local and foreign entrepreneurs. Here the start-uppers can get an advice and assistance for any kind of issue. Besides, the government has set up a special area called the “22 @ Barcelona», which is free of taxes and obligations. 5. Global brand of the city According to the international statistics, Barcelona has been highlighted among other European cities as: • 1st European city in quality of life for the working population • 2nd European city with the highest progress rate • 3rd European city with the highest number of foreign investments 6. Gastronomy is one of the best in the world It can be said that Barcelona can offer not only sea and mountains, but also the world’s best restaurants with Michelin stars. Great chefs such as Ferran Adria and Brothers Rock have turned traditional Spanish dishes into the world-class masterpieces. 7. Healthcare
The excellent medical assistance is provided to both locals and foreigners. The extensive network of private and public health centers are in charge of the healthcare, as it has been recognized and approved at the international level. 8. Education Every year thousands of international students come to study in Barcelona. The city possesses more than 50 universities, both public and private. 9. Green City Barcelona has made significant progress in solving the environmental issues, as the government is investing heavily in ecology and nature improvement. 10. Culture Barcelona is one of the most attractive destinations for tourists. Besides the above-mentioned, it is extremely famous for its unique culture. A great variety of all that Barcelona is offering to its tourists, makes them coming back to this incredible city. Bonus 11. Spanish Golden Visa The Spain Golden Visa Program encourages investors outside the EU to invest in real estate, job creation and public debts. Under the program, investors and their families are eligible to obtain temporary residency in a matter of months through minimum property investments of €500000.00. The Spain Golden Visa Program is a true gateway to Europe, expanding your visa-free travel mobility within the Schengen Zone. This program allows the investor to consider residency acquisition as their first step towards permanent residency and citizenship acquisition if required. Further residency requirements will need to be met; after 5 years permanent residency can be obtained, and citizenship after 10 years living in the country. It is not necessary to live in Spain in order to retain and renew the residency visa permit. However, the route to permanent residency and citizenship requires the investor and their family to reside in Spain. The Spanish Golden Visa is an investment only route and does not require any contribution or donation to a fund. Contact us to book a property viewing or free advice regarding Golden Visa investments. Buying property in Spain is a fantastic life investment. Not only can you benefit from a second home in one of Europe’s best countries with the opportunity to get Spanish residency, but you can also get high returns on your investment due to the high demand of short-term rental property. This guide gives you useful insights on how to buy real estate in Spain. Spain real estate market history and overview If you are considering purchasing property in Spain, now is the time to do it as selling prices are currently going down. With Spain’s high quality of life, incredible culture, diversity, and delicious cuisine, it’s no wonder why a high number of foreigners are drawn to Spanish real estate — in fact, foreigners account for around 20% of Spain’s real estate market buyers. There are many advantages for foreigners looking to buy property in Spain: From Andalusia and the Asturias to Galicia and Catalonia, Spain’s regions are very diversified and have diverse climates. You can decide if you want to live by the sea, in the countryside, or in the mountains. There are many different types of properties to choose from at various prices: from newly built apartments and farmhouses to villas and family homes. Get profitable yields by renting your property — short-term holiday rentals are very popular in Spain due to the high number of tourists coming to Spain every year. Invest in Spanish real estate and get Spanish residency and eventually Spanish citizenship via the Spain Golden Visa scheme. Get residency in Spain by buying property Buying property in Spain can give you the incredible opportunity to receive Spanish residency, ultimately allowing you to get a Spanish passport. Launched in 2013, the Spain Golden Visa program allows investors and their families to receive Spanish citizenship in exchange for an investment in real estate of a minimum value of €500,000. To learn more about the Spain Golden Visa and its different investment routes, get in touch for a free consultation. Where to buy property in Spain? You can basically buy property anywhere in Spain. Ultimately it comes down to what region you prefer and the type of lifestyle you are looking for. Below are some of the best places to buy property in Spain. Costa del Sol Located in Andalusia, Costa del Sol is one of the most famous places to get holiday homes in Spain. Foreigners are drawn to Costa del Sol’s amazing climate and fantastic beaches. You will find that life is very relaxed and charming in Costa del Sol, with plenty of activities and enjoyments available. Málaga and Marbella are also some of the best cities to live and buy property in Costa del Sol. Barcelona Barcelona is the main city of Catalonia, and one of the most famous destinations in the world. The city is very multicultural and is bustling with cultural activities and entrepreneurial spirit. In a nutshell, Barcelona is a fantastic place to live in and ideally located by the sea. With the city being extremely popular among tourists, it is a very good place to invest in rental apartments. Be aware that real estate property in Barcelona is more expensive than in other Spanish locations. Madrid Madrid is the capital city of Spain. It is famous for having a very good work-life balance, offering plenty of jobs and entertainment. It has great museums, restaurants, and bars. Its infrastructures and facilities are very developed and it is easy to feel welcomed. As it is the capital city, real estate prices are higher than average. Valencia Valencia is the third-largest city in Spain. Its climate is very pleasant and mild, and it is appreciated for its relaxed pace of living – way more peaceful than Madrid and Barcelona. Located close to the sea, Valencia has a large port area with a beautiful promenade filled with bars and restaurants. It is also famous for its many green spaces. The real estate market in Valencia is considerably cheaper than in Madrid and Barcelona. Balearic & Canary islands Famous for their beauty and idyllic beaches, the Balearic and Canary islands are some of the best places to invest in. Whether it is in Menorca, Mallorca or Ibiza in the Balearics or Tenerife in the Canary Islands, you will find fantastic properties right by the sea. Not only is the quality of life amazing, but owning a property brings high returns on investments as, during tourist seasons, demand for rental properties is high. How to buy real estate in Spain?
There are no restrictions on buying real estate in Spain as a foreigner. You just need to find the right property, and make sure that all the paperwork is in order to proceed with the transaction. We recommend hiring a lawyer during the process in order to get the best legal guidance. Be aware that there are two types of properties in Spain, their main differences come from the taxes that will need to be paid during the purchase. New home: a property in Spain is considered a new home if it has never been sold before. Buyers of a new home must pay a Value Added Tax (VAT), as well as a stamp duty. Resale home: a property in Spain is considered a resale if it has previously been owned by someone. When purchasing a resale home, buyers will have to pay for a property transfer tax Tax on buying property in Spain Capital Gains Tax (CGT) applies to any profit made from the sale of a property. CGT starts at 24%, increasing to 27% for gains exceeding €50,000. Allowances and deductions can be made. Annual property taxes = around €200 to €400 per year for an apartment. Notary fees = 0.03% – 0.45% of property value Registration fee = 0.2% – 1.8% of property value Property transfer tax = 6%-10% of property value (applicable to resale home) VAT = 10% of the property value (applicable to new home) Stamp duty = 0.5% to 1.5% of property value depending on the region (applicable to new home) A step-by-step guide to buying property in Spain • Look for property and choose the one you want • Hire a lawyer to assist you in the buying process • Make an offer to the seller and agree on a contract • Sign a preliminary contract • Pay a deposit of 10% of the property price value • Sign the contract of sale in front of a notary • Register your property with the local authorities Spain real estate prices Below is an estimation of Spain real estate market prices per m2 per region: Balearic Islands = €3,113 pm2 Madrid = €2,350 pm2 Catalonia = €2,000 pm2 Basque Country = €1,950 pm2 Andalusia = €1,800 pm2 Valencia region = €1,363 pm2 How can Prime Land Ventures help me? Interested in buying property in Spain? Get in touch with one of our real estate specialists. We are a boutique investment firm with years of experience in assisting international families purchasing property, investing in citizenship or residency abroad. At Prime Land Ventures we give the insight and data analysis to allow our clients to make investments with confidence. |
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