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Spanish residency permits and tax residency

My Spain Residency, January, 21. 2022

Article copyrighted © 2022. Plagiarism will be criminally prosecuted.

 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
21st of January 2022

 

A common misunderstanding on applying for Spanish residency is the matter of tax residency.

 

I have witnessed how several companies and so-called ‘advisors’ are misselling residency permits in Spain without property explaining and disclosing to applicants the tax implications of their decision.

 

I’ve written this short article to cast some light on this and clarify once for all this topic.

 

Spanish residency and tax residency

 

Although – technically – it is true that admin residency and tax residency are two separate legal concepts, the fact of the matter is that eventually they go hand in hand in most cases.

 

As a general rule the following applies:

 

Spanish residency permit = Spanish tax residency

 

Without going into detail on the whys and whynot’s, the reason is because as a staple requirement all visas in Spain require on renewals you categorically prove you have lived in Spain long term; defined as spending over 183 days within a calendar year in Spanish territory. The tax implication of this is that it automatically triggers tax residency in Spain.

 

Example: Mr Smith applies and attains a Non-Lucrative Visa in 2021. On the following year (2022), he must file personal income tax in Spain because he has now become a Spanish tax resident.

 

If Mr Smith challenges the tax residency status on grounds that he did not spend over 183 days in Spain during 2021, on his visa renewal, he will be stripped of his residency permit.

 

In other words, they go hand in hand. You cannot have one without the other or you visa renewal will be turned down.

 

Are there any exceptions to this general rule?

 

Yes, it’s a special type of residency permit called Golden Visa (investor visa).

 

A GV allows its permit holder to bypass the 90/180-day rule. It also allows its holders unfettered access to Spain. They may enter and leave as they please (even circumventing Covid restrictions).

 

Attaining a Golden visa, unlike every other visa in Spain, does not automatically make you tax resident in Spain and the reason being is because renewals are not tied to proving you live in Spain (which triggers tax residency), but rather that you have maintained the investment over time in Spain.

 

This nuance is extremely important and goes on to explain why Golden Visas are so special and why they are so sought after by affluent applicants.

 

As a recap, Golden Visas allow you:

 

  • To bypass the 90/180-day rule
  • Unfettered access to Spain
  • Do not automatically make you tax resident in Spain (unlike every other visa)
  •  

MySpainResidency has a 100% track record attaining Spanish residency 

Related articles

 

 

 

Please note the information provided in this article is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.

 

2.022 © Raymundo Larraín Nesbitt. All Rights Reserved.

Season's Greetings!

My Spain Residency, December, 24. 2021

 

From the team at Myspainresidency, we wish all our clients and friends a Merry Christmas and a Happy New Year!

 

We will reopen for business on the 7th of January 2022.

Is age a thing on requesting a Spanish residency permit?

My Spain Residency, November, 11. 2021

 

Marbella-based Larraín Nesbitt Abogados (LNA) has over 18 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists has a long track record successfully assisting expats all over Spain.

 

You can review here our client’s testimonials.

 

Article copyrighted © 2021. Plagiarism will be criminally prosecuted.

 

 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
11th of November 2021

 

Officially no, in practice there are some snags.

 

The reason being is that all visa permits, including a Golden Visa, have as a staple requirement in Spain that an applicant must hire private health insurance from a Spanish-based company.

 

Most Spanish health providers do not insure applicants over the age of 70 years old. None insure over the age of 75 years old full cover, at least to our knowledge.

 

This in practice translates indirectly to vetting any applicant over the age of 75 y.o. In effect, no candidate over 75 is eligible for Spanish private healthcare which in turn means your visa application is simply thrown out and you fail one of the core requirements common to all visa permits in Spain.

 

So, if you are thinking of making the move to Spain, at some point in your life, please, for your own sake, make sure you do not leave it until it is too late. Always apply for Spanish residency permits under the age of 75 y.o.; I would even go further, recommending the age of 70 to be on the safe side.

 

LNA has a 100% track record attaining Spanish residency

 

Larraín Nesbitt Lawyers, small on fees, big on service.

 

At Larrain Nesbitt Abogados, we have assisted hundreds of EU and non-EU nationals to successfully attain a Spanish residency permit.

 

Interested? Come and speak to Larraín Nesbitt Abogados’ friendly staff who will be pleased to guide you through the different residency options, choosing the one that appeals to you most. Your family’s success is only one call away: (+34) 952 19 22 88.

 

Residency services available from LNA

 

 

Related visa articles

 

 

Please note the information provided in this article is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. No delusional separatist politician was harmed on writing this article. VOV.

 

2.021 © Raymundo Larraín Nesbitt. All Rights Reserved.

I want a Spanish visa, but I don’t want to pay any taxes in Spain

My Spain Residency, August, 1. 2021

 

Article copyrighted © 2021. Plagiarism will be criminally prosecuted.

 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
1st of August 2021

 

More and more non-resident foreigners are enquiring on the different types of visa available to circumvent the pesky 90/180-day rule that aggravates us in a post-Brexit  world.

 

A question we get, almost on a daily basis, is as follows: “I want a Spanish visa, but I don’t want to pay any taxes in Spain, I don’t want to become tax resident in Spain. I want to continue to pay taxes in my home country.”

 

This is a bit like saying you want to get married but want none of the fights and commitments that go with it, you just want the good stuff. As its own name implies, attaining residency in Spain means you are applying for an admin permit to live all year round in Spain (to bypass the 90/180-day rule). However, the tax implication of this is that indirectly it may trigger tax residency in Spain should you remain more than 183 days a year in Spain within a tax calendar.

 

The fact is that visa renewals are tied to proving you live in Spain long term, which indirectly will trigger tax residency in Spain. If you are unable to prove you are in fact living in Spain long term, your visa renewal will simply be turned down by Spanish Immigration Authorities. So, it’s a catch-22.

 

Spanish residency = tax residency in Spain  

 

But is it really closed to debate? No, there is a loophole.

 

The only exception to this general visa rule is the investor visa, popularly dubbed as the ‘Golden Visa’ (GV, for short). The reason being is that renewals of a GV are not tied to proving you live in Spain long term (which triggers tax residency), unlike every other visa in Spain, but rather on proving you keep the investment that made it possible to attain it in the first place. This is a very important nuance.

 

In plain English, a GV neatly bypasses the requirement to live in Spain all year round, which triggers tax residency. With a GV you can in fact spend as much, or as little, time as you fancy in Spain. So long as you do not spend more than 183 days a year in Spanish territory within a calendar year, you will not be regarded as tax resident in Spain (it should be noted other criteria may also apply to determine a taxpayer’s tax residency).

 

This is precisely what makes a Golden Visa the most coveted visa available in Spain, because of its unique ability to override (within the law) the 90/180-day rule and in tandem also not trigger tax residency in Spain. This distinctive ability, unique, not found in any other visa, makes it hands down the most sought-after visa in all of Spain.

 

Bottom line, if you want to apply for Spanish residency, but do not want to become tax resident in Spain, your only (legal) option is a Golden Visa, period. Every other visa type hinges on you categorically proving you live in Spain long term, which will trigger tax residency eventually.

 

Myspainresidency has a 100% track record attaining Spanish residency

 

At Myspainresidency, we have assisted hundreds of EU and non-EU nationals to successfully attain a Spanish residency permit.

 

Interested? Come and speak to our friendly staff who will be pleased to guide you through the different residency options, choosing the one that appeals to you most. Your family’s success is only one call away: (+34) 951 894 675.

 

Residency services available from Myspainresidency.com

 

 

 

Related visa articles

 

 

Please note the information provided in this article is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. No delusional separatist politician was harmed on writing this article. VOV.

 

2.021 © Raymundo Larraín Nesbitt. All Rights Reserved.

How to stay in Spain over 90 days – Residency visa overview

My Spain Residency, May, 21. 2021

 

Solicitor Raymond Nesbitt gives us a sweeping overview on how to legally bypass the pesky 90/180-day rule that now affects all UK nationals post-Brexit.

 

Marbella-based Larraín Nesbitt Abogados (LNA) has over 18 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists has a long track record successfully assisting expats all over Spain.

 

You can review here our client’s testimonials.

 

Article copyrighted © 2021. Plagiarism will be criminally prosecuted.

 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
21st of May 2021

 

After 47 years, the United Kingdom will no longer be a Member State of the Union. The United Kingdom officially left the Union on the 31st January 2020, after both Westminster and the European Parliament ratified the Withdrawal Agreement.

 

As most UK nationals are already aware by now, you may not spend more than 90 consecutive days in Spain post-Brexit. This pesky limitation is known as the 90/180-day rule. It should be noted that, within a calendar year, you may stay up to 90 days within every rolling six-month period. In plain English, you may remain in two separate stays of up to 90 days each within every calendar year (without visa). A visa is only required when you want to spend over 90 consecutive days in Spain.

 

Over the course of the previous five months, we have painstakingly published detailed in-depth articles that explained the different legal ways to circumvent the 90/180-day rule. In today’s article we are going to gloss over the four main legal options. Please be advised the point of this article is not to go into every nook and cranny, albeit to skim over the surface light-heartedly and collate all the different legal options open to UK nationals, acting as a repository. If a reader wants to delve in deeper, we advise you follow the links supplied below (just click on them), or simply contact us – one of our friendly staff will be delighted to have a chat with you.

 

For full disclosure, we should point out there are other visas you can apply for, besides the listed four, but because the majority of our clients never demand them, we have purposely chosen to exclude them i.e. student visa, work visa, etc.

 

The four listed visas below allow its successful applicants, and dependants, to remain in Spain for more than 90 consecutive days within a calendar year; moreover, you may stay all year round if it pleases you. As an additional advantage, it gives its visa holders unfettered access to the Schengen Area (26 European countries). Basically, you will be treated on equal footing to a Spanish national on entering & exiting the country without all the pesky border & customs hassle that aggravates us so.

 

Regarding taxation, none of them automatically make you tax resident in Spain on attainment. However, if you spend over 183 days/year in Spain you will be deemed tax resident. On applying for a visa renewal, you will have to provide proof you are living in Spain long term, which may trigger tax residency.

 

All the below-listed visas have in common the following requirements:

 

  1. Non-EU national.
  2. Hire private health insurance.
  3. Clean criminal record (previous 5 years)
  4. Be self-supporting (you will not claim benefits)
  5. Not be already in Spain illegally at the time of making the application.
  6.  

1. Golden Visa – Investor visa

 

The investor visa is thought for affluent applicants. It is popularly known as a ‘Golden Visa’. It’s a blue-ribbon visa that basically rolls out the red rug for its privileged holders that neatly cuts through all the red tape. Its purpose is to foster foreign investments in Spain. Whilst there are many different ways to attain a GV, the most popular (and least expensive) is by investing in Spanish real estate. This requires investing €500,000 in property. We should point out that it applies retrospectively; meaning that any UK national (or any other non-EU) that bought a property in Spain for over 500k on or after the 28th of September 2013 may qualify. Unlike the other three visas listed below, renewals are not subject to proving you live in Spain all year round. They are based on keeping the investment. This ability to override the 90/180-day rule and not being ‘forced’ to live in Spain make it one-of-a-kind and explains why it is so coveted.

 

Suitable for:

 

  • Affluent property buyers
  • Investors, developers
  • High-flyers

 

 

Further reading:

 

Investor Guide to Spain’s Golden Visa Law – 8th November 2013
Spanish Golden Visa for British investors after Brexit
Spanish Golden Visa for British, it’s retroactive!

 

2. Marriage visa – EU Family regroupment

 

It’s intended for families or couples that have been separated, in and out of the EU. It seeks to reunite them in an expedited manner within the EU. So, although this type of visa is popularly dubbed as ‘marriage visa,’ it would be rather more appropriate to refer to it as ‘family visa’, as its scope goes well beyond a married couple. It ought to be understood in broader terms, as in family reunion. As its own name implies, couples must be married (including same-sex partners).

 

Suitable for:

 

  • Separated family members that wish to reunite within the EU
  • Married couples

 

 

Further reading:  EU-family regrouping (marriage visa)

 

3. Business visa – Lucrative Visa

 

As its own name implies, this permit allows the applicant to work in Spain as you will be self-employed. This residency applies to someone who is looking to set up his own business in Spain. Typically, you will be acting as director or company administrator. Needless to say, one of the key requirements is that you will have enough means to be self-supporting both for yourself and your family for one year. The catch, besides a cast-iron motivation, is that you need in the ballpark of €80,000 to €100,000 in savings to open & run a business.

 

Suitable for:

 

  • Applicants (families) wishing to set up and run a business in Spain
  • Self-employed
  • Entrepreneurs

 

 

Further reading:  Lucrative residency permit (business visa)

 

4. Pensioner visa – Non-lucrative visa

 

As its own name implies, this visa allows the applicant to live, but not to work, in Spain. The applicant will be expected to be self-supporting and will be required to prove he or she has enough savings for at least two years. This visa is ideal for retirees who wish to spend extended periods of time in Spain – without working – enjoying the finer things in life. However, it should be noted that other applicants, who are not of pensioner age, are also welcome to apply. This visa is also a good option for those who want to test the waters and are considering living in Spain long term. The catch is that you need to prove you have an income of at least €27,000/year.

 

Suitable for:

 

  • Pensioners
  • Would-be buyers, long-term tenants
  • Bon vivants

 

 

Further reading: The Spanish Non-Lucrative Visa Explained

 

 

Myspainresidency has a 100% track record attaining Spanish residency

Spain's Golden Visa for British, it's retroactive!

My Spain Residency, February, 21. 2021

 

Article copyrighted © 2021. Plagiarism will be criminally prosecuted.

 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
21st of February 2021

 

Introduction

 

We recently published an article on Golden Visas for British nationals which has garnered much attention. It constitutes a legal breakthrough, as it allows Britons – for the first time ever – to access Golden Visas in Spain. Since then, we have received numerous queries raising a number of questions. Chiefly, the most important one being on whether Golden Visas are in fact retroactive, or not. The good news is that yes, Golden Visas are indeed retroactive.

 

Any UK national who bought a property in Spain, on or after the 28th of September 2013, may qualify to apply for a Spanish Golden Visa.

 

We are going to reproduce below some of the most frequently asked questions raised by UK nationals we’ve collated over the last week to help shed some light on the matter.

 

  1. 1. I’m British and bought a 500k property in 2016, do I qualify?

 

Yes, you do.

 

  1. 2. We bought a 500k property under joint names, do we qualify?

 

No, you do not. British couples normally buy property under joint names; however, when it comes to Golden Visas, this is a challenge.

 

The law requires that 500,000 euros are only under the name of the main investor, the balance however can be registered under the name of the partner.

 

E.g. A UK couple buy under joint names a 500,000 euros property in 2014. They would not qualify because the do not meet the 500k threshold (as each one has ‘only’ 250k).

 

E.g. A UK couple buy a 700k property, 500k under the name of the wife and the balance (200k) is under the name of her spouse. They would qualify.

 

  1. 3. We’ve already bought property in Spain but fall just short of the 500k threshold. Do we qualify?

 

No, but you may still qualify providing you buy another property that assists you reaching the 500k limit. It doesn’t matter if you buy the second property years later, don’t worry. What matters is reaching the 500k goal, even if by combining all the property values you own.

 

For example, you’ve already acquired a 450k property in the past. What you can do is buy one, or more, properties, to help you reach the 500k threshold, so you qualify for this special residency visa permit.

 

  1. 4. I snagged a bargain property for under 500k during Spain’s downturn in 2014, but it is now worth substantially more than 500k, do I qualify?

 

No, you don’t. Same as in point three above, the value in the purchase deed needs to tally 500k. Any capital appreciation over time is not computed, sorry. You would need to buy one, or more, additional properties that allow you to meet the 500k threshold.

 

  1. 5. We bought a property for 480k in the past but have made extensive improvements to the property since that now make it worth well over 500k. Do we qualify?

 

No, you don’t. Same as in points three and four above, the values in the purchase deed need to tally 500k. Any extensions or improvements made to a property are not computed. You would need to buy one, or more, properties that allow you to meet the 500k threshold i.e. a parking space.

 

  1. 6. At present, our property, which cost €795K, is held equally between my wife and myself.  However, if we reorganised our affairs such that my wife, say, held a €500K, interest in the property, could we, again, in principle, be both eligible for a Golden Visa?

 

No. You cannot belatedly rearrange property holdings to meet the 500k threshold post-sale. The law requires an investor buys one, or more, properties that combinedly meet the statutory threshold. The Title deed/s need to add up to 500,000 euros on buying property in Spain. To overcome this, you could buy a second additional property for 102,500 euros that would allow either one of you to hit the required 500k yardstick.

 

  1. 7. If I attain a Golden Visa, does the time spent in Spain count towards the Schengen 90/180 rule? I travel to Europe on business regularly and this is a key point for me.

 

Short answer is no. When you land a GV, you may come and go as you please from Spain; you are not subject to the 90/180 rule that applies to the remainder of UK nationals. Regarding travelling in or around the Schengen Area, the time you spend in Spain would not count towards the 90 out of every rolling six-month period (the 90/180 rule you mention). In other words, as an example, within the same six-month period you may legally flaunt said rule on spending say 90 days in Spain and 90 days in the Schengen Area. Without a Golden Visa you simply could not hope to achieve this. Which is yet another advantage for businesspeople, or for those who simply like to roam free around Europe getting lost in its beauty.

 

  1. 8. I sold a property and hold a substantial bank deposit since 2015, do I qualify?

 

Yes, you do. Providing your bank balance is one million euros.

 

Buying property in Spain is one of many ways to acquire a Golden Visa, albeit it is by no means the only one. There are several other viable options that enable an investor, and his family, to attain a Golden Visa in Spain. Speak to us.

 

At Myspainresidency, we have assisted hundreds of non-EU investors, and their families, to attain a Golden Visa since its inception in 2013. We can put you in touch with the most reputable real estate agencies across Spain to make your dreams come true. Apply for the keys to your Golden Visa through us: Golden Visa Service.

Myspainresidency has a 100% track record attaining Spanish residency

 

Spanish Golden Visa for British investors after Brexit

My Spain Residency, January, 21. 2021

 

Article copyrighted © 2013, 2017, 2018, 2019, and 2021. Plagiarism will be criminally prosecuted.

 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
21st of January 2021 

 

Introduction

 

The Spanish Golden Visa has become the gateway to Europe for thousands of applicants pursuing the European dream. They have collectively invested over 2 billion euros since its inception in 2013. Although Spain’s visa programme was initially a flop, as it fell well below expectations, and was marred with teething issues, an ambitious overhaul in 2015 made it extremely competitive compared with similar schemes offered by fellow EU countries. So much so, that this massive tweak enabled Spain to confidently overtake Portugal, becoming Europe´s leading Golden Visa supplier.

 

Although this procedure was originally devised to cater to affluent Russian, Chinese, and Iranian nationals, in a post-Brexit world, UK nationals now have a golden opportunity (excuse the pun) to benefit from the wide array of advantages offered by Spain’s Golden Visa scheme. 

 

With the European Union’s Parliament official confirmation from last week that it will ratify belatedly the Withdrawal Agreement in February 2021, Brexit is now truly done and dusted. This opens the doors for Britons to apply for a GV application. Although Brexit has been a protracted procedure, as a positive note, it has allowed the prospect of Golden Visas for British nationals.

 

UK nationals may now enjoy - for the first time ever - the slew of advantages that were until now reserved only to a select minority of wealthy non-EUs. The main advantage is that it allows British nationals - that lack a EU passport - to enter and move visa-free through the Schengen Area, skipping pesky passport controls on an equal footing to EU nationals. Much like before the UK voted to break away from the Union.

 

If you fancy an in-depth take into this subject, you can take a peek at our 2013 article: Investor Guide to Spain’s Golden Visa Law. 

 

Spain’s Golden Visa programme allows affluent non-EU applicants, and their dependants, unfettered access across Europe´s Schengen Area. Travel unmolested through all of Europe.

 

A Golden Visa enables you, and your family, to live and work in Spain (Europe). This visa guarantees Spanish residency, which eventually leads to Spanish citizenship (optional). Live the dream, apply now!

 

Thousands of non-EU nationals have already secured their families’ future and well-being on benefiting from this special arrangement that rolls out the red carpet cutting through all the red tape. Spain’s Golden Visa is a success story, be a part of it!

 

At Larrain Nesbitt Abogados, we have assisted hundreds of investors, and their families, to attain a GV since its inception in 2013. We can put you in touch with the most reputable real estate agencies across Spain to make your dreams come true. Apply for the keys to your Golden Visa through Larraín Nesbitt Abogados: Golden Visa Service. Your family’s success is only one call away: (+34) 952 19 22 88.

 

 

Golden Visa Advantages

 

  • Fast-tracked. This law is specifically devised to attract affluent non-EU investors and helps to cut through the admin red tape greatly streamlining the visa procedure.
  • Travel Europe visa-free. You can travel without a visa for 90 days out of every 180 days within the Schengen Area.
  • Clear rules. Two years (Residency Permit), renewable for a further 5 years.
  • No need to become resident in Spain. You only have to visit Spain once to get or renew the Residency Permit. There is no minimum stay requirement, and you don’t have to become a tax resident or actually live in Spain.
  • Family included. You may get additional permits for your spouse and children under 18 years (or disabled and dependant children over 18). Same-sex partners inclusive. Dependant parents of applicant are now also included (extended family).
  • You may work in Spain.
  • Spanish nationality (optional). This is a 2-year Residency Permit, not the right to permanent residency or a Spanish passport. However, it can lead to long-term Spanish residency after 5 years of continuous residence, and citizenship after 10 years.
  • Underaged children may study in Europe. Underaged offspring can live and study in Europe, in company of your partner, whilst you work and earn money abroad.
  • Return on investment. Take advantage of Spain´s burgeoning real estate recovery.
  •  

 

General Requirements

 

 Applicants pursuing investor visas must comply with the following general requirements:

 

  • Non-EU national.
  • The investor applicant must be of legal age (18-years-old or over).
  • The investor must not hold a criminal record whether in Spain or in the previous five years where he has resided.
  • Not be already in Spain irregularly.
  • Have access to private medical insurance.
  • Have sufficient financial means to support both himself and his family whilst in Spain.
  • Pay the relevant application fee.
  •  

 

Specific Requirements

 

Qualified residency permits to non-EU residents will be offered in return for any of the following:

 

  1. Invest at least €500,000 in Spanish real estate property.
  2. Invest at least €2,000,000 in Spanish Treasury Bonds.
  3. Invest at least €1,000,000 in shares of Spanish companies.
  4. Deposit at least €1,000,000 in Spanish bank accounts.
  5. A ‘major’ business investment which fulfils at least one of the following three criteria:

 

  • Meaningful job creation as a direct result of the investment.
  • Significant socioeconomic impact in the geographical location where the activity will be carried out.
  • Technological or scientific impact.

 

Why choose Europe?

 

  • Democracy. Europe, cradle of democracy, hosts some of the world’s oldest and most solid. A clear and stable legal and tax framework allows freedom, nurtures ingenuity, and upholds (property) rights for businesspeople. This concocts the ideal breeding ground to foster business investments, and develop an entrepreneurial skill set.
  • Education. Europe is home to some of the world’s most respected academic institutions. Secure a bright future for your children allowing them to earn their spurs in life through a meritocratic top-notch education.
  • Culture. Europe is a crucible of cultures, a conflux that laces Western and Eastern influences, offering a rich tapestry of history and arts that shaped the world as we know it. Spain’s vast cultural heritage, spanning millennia, is a legacy of commingled cultures that attracts over 84 million tourists every year leaving an indelible mark upon its visitors.
  • Languages. Seize the opportunity to master and command some of the world’s most influential languages: English (business & finance), French (arts & diplomacy), German (industry & science), Spanish (literature & poetry).
  • Healthcare. Europe, and Spain in particular, are at the forefront in modern medical facilities.
  • Modern transport. Spain offers top-tier transport services including state-of-the-art high-speed rails connecting you with Europe’s major capitals.

 

 

Frequently asked questions

 

 


   1. Can I request a mortgage on investing €500,000 in Spanish real estate?

 

Only on the excess above €500,000. The law requires that the first €500,000 is unencumbered – meaning the equity threshold must be free. The excess can indeed be financed through a mortgage loan if necessary. Notwithstanding the above, you may also finance the 500k using a lender, as long as he is located outside of the Union, although this may prove challenging in practice.

 

   2. I have read that I need to spend over six months in Spain to qualify for residency. Is this true?

 

No. A GV neatly overrides this requirement. This law specifically targets affluent individuals who will normally be residing and working elsewhere. That doesn’t preclude the investor’s spouse and children from living and studying (or even working) in Spain (Europe). In other words, you are free to come and go as you please without needing to stay in Spain a minimum period of time every year.

 

   3. I don’t fancy paying taxes in Spain, I already pay enough in my home country. Will I become a Spanish tax resident if I apply for a GV?

 

No, you won’t. A GV application is unrelated to your tax residency. Only if you spend more than 183 days a year in Spanish territory would you become a Spanish tax resident. Ideal for those who want their families to enjoy a European lifestyle whilst the main investor commutes to work in other countries and has his/her main business outside of Europe.

 

   4. How long does it take to attain a GV application?

 

Under two months, on average.

 

   5. Can I work in Spain?

 

Yes. Following a change in the GV law in 2015, the main investor may now work in Spain.

 

   6. Can I make use of the public healthcare system?

 

No. This blue-ribbon visa targets wealthy non-residents who must hire their own private insurance. We can also assist you with this: Hiring private health insurance.

 

   7. Does a GV include also the investor’s family?

 

Yes, even extended family. The term ‘family’ must be understood broadly. A married couple and their children under 18 are included under the same application as a family unit. Same-sex partners qualify as a married couple. In some cases, children over 18 y.o. are also included as long as they are financially dependent. Also, dependant parents, even if under 65 y.o.

 

   8. How long does the Golden Visa last for?

 

Two years, and you may renew it for a further 5 years.

 

   9. Do holders of the so-called Golden Visa have unrestricted access to move within the European Union?

 

In a nutshell, yes. Holders of a Spanish Golden Visa do not require a visa to enter Europe’s Schengen Area. They can transit and enjoy free movement within the Schengen Area visa-free for a maximum period of three months (90 days) in every rolling six-month period from the date of first entry. You will have unfettered access to move within the Union.

 

  10. Can I invest in real estate through a company?

 

Yes, but certain criteria apply to qualify - talk to us. The bottom line is that you can indeed buy real estate through companies and still qualify to attain a GV in Spain.

 

Interested? Come and speak to Larraín Nesbitt Abogados friendly staff who will be pleased to guide you through Spain’s Golden Visa programme. Your family’s success is only one call away: (+34) 952 19 22 88.


 

Golden Visa Service

Myspainresidency has a 100% track record attaining Spanish residency

 

UK-issued EHIC cards may no longer be valid in Spain (or Europe)

My Spain Residency, January, 14. 2021

 

Blog post copyrighted © 2021. Plagiarism will be criminally prosecuted.

 

Solicitor Raymundo Larraín explains to us the new sweeping changes in Spanish residency for British nationals that came into force.

 

As one of the many post-Brexit consequences we will be covering in our blog posts going forward, European Health Insurance Cards (EHIC) may have ceased to be valid in Spain (and Europe) as from the 1st of January 2021.

 

The UK Government and the Union Authorities agreed EHIC cards would continue to be valid until their expiry dates. If your card has already expired, it is no longer valid.

 

If you are planning on making travelling arrangements to Spain (or Europe) you should request its replacement, the new Global Health Insurance Card (GHIC) which replaces the EHIC for the majority of UK citizens.

 

The EHIC entitles you to state-provided medical treatment if you fall ill or have an accident in any EU country, including Spain. The cards cover pre-existing medical conditions and routine maternity care, as well as emergency care.

 

Please take note that the GHIC is not an alternative to travel insurance. It is strongly advised you buy as well travel insurance. Neither EHIC nor GHIC cards cover private medical healthcare.

 

You may apply for the new GHIC card on following this link: GHIC application form

 

Green residency cards: UK travellers denied boarding on flights bound to Spain

My Spain Residency, January, 7. 2021

 

Blog post copyrighted © 2021. Plagiarism will be criminally prosecuted.

 

By Raymundo Larraín Nesbitt
Lawyer – Abogado
7th of January 2021

 

As The Guardian reported early on this week, dozens of UK nationals were denied from boarding flights bound to Spain. Several other similar reports are emerging in other flights as well. Some were denied access on the back of showing NIE numbers and some were denied on showing the old green residency cards.

 

 

Due to the new mutant strain of Covid-19 originating in England, Spain - and most of Europe - has imposed restrictions on inbound UK travellers unless they are Spanish residents. In an attempt to board flights, some UK travellers have been showing several documents to justify their residency status; some of which are valid, and some are not.  

 

I find it necessary to clarify three concepts:

 

  • NIE number: this is a tax identification number for foreigners in Spain. It’s akin to our National insurance number and in no way does it allow its holder residency rights in Spain. It is only used to pay taxes in Spain, period.
  • Green residency card: these are old residency permits that grant residency rights in Spain. Despite being old, they are still accepted as valid and should prove the rights of the holder to reside in Spain. However, there are issues if they have been laminated. Currently, laminated cards are being refused. Photocopies are no accepted either, only originals.
  • TIE card: these are the new biometric residency permits that have superseded the above (old) green residency cards. They should grant the permit holder unfettered access to Spain.

 

 

Having clarified the above, any UK traveller that is in possession of either an old green residency card or a TIE card should be allowed unfettered access to Spain, despite the new EU-ban on UK flights. As explained above, a NIE number does not constitute a residency permit, and you will be rightfully denied bording any flight bound to Spain under the current Covid flight ban.

 

The confusion stems from the fact that old green residency permits, and the new TIE cards, both have NIE numbers etched in them. So some passengers are under the false impression they can enter Spain on showing only a 'NIE number', which is incorrect. Again, for the avoidance of doubt,  you only have resident status in Spain if you have attained either an old green residency card or the new TIE card.

 

Having clarified this, in all our articles on attaining a Spanish residency permit we strongly advocated UK nationals to change their old green residency cards over to the new TIE cards for a host of reasons:

 

  • TIE cards are sturdy and durable
  • TIE cards are used for identification purposes (they have photo ID, unlike green cards)
  • TIE cards are modern biometric cards that won’t have any issues on travelling abroad i.e. at customs & border controls

 

 

If I have a TIE card, do I need to apply for a green card?

 

No, your TIE card is the new green card, it supersedes it.

 

If I have an 'old' green card do I need to change it over for the new TIE card?

 

Legally no, you don't. However, in practice, we strongly recommend that you do for all the reasons highlighted above and in all our residency articles collated below.

 

 

 

At Myspainresidency we offer a competitively-priced service to change your old green residency cards for the new TIE cards:

 

Spanish Residency permit for EU nationals (includes TIE card & NIE number)

 

 

Myspainresidency has a 100% track record attaining Spanish residency

6 advantages of a Spanish residency permit

My Spain Residency, November, 8. 2020

 

Article copyrighted © 2020. Plagiarism will be criminally prosecuted.

 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Abogados
8th of November 2020

 

The United Kingdom officially left the Union on the 31st January 2020, and the Brexit transition period ends on the 31st December 2020.

 

Following up on last month's article (Spanish residency permit: Time is running out!), we are now on the run up to the last days for British nationals to benefit from all the advantages the transition period has to offer on applying for Spanish residency. We strongly advise all UK nationals to apply for a residency permit now, before the end of the year, if you can. As from 2021, the application requirements will be far more challenging, and many will no longer qualify.

 

To complicate matters further, at the time of publishing this immigration article, it would seem the UK Authorities are heading for a no-deal Brexit which would pile even more pressure to get this done and out of the way whilst you can. From the Spanish side, Immigration Authorities have tightened up the requirements in a new change from November which now requires applicants to categorically prove their habitual residency is in Spain. This is the second major change in 2020, besides the one we already reported in July 2020.

 

Please note that because the United Kingdom has been a member state of the Union over the last 47 years we take many rights for granted; but these rights will no longer be available as from 2021 for all those who have not landed a residency permit, so please do not take them for granted and be proactive, for your own sake.

 

Besides the six reasons we collate below, there are also tax advantages: Tax advantages on becoming resident in Spain – 8th March 2018.

 

Apply for Spanish residency now and ensure you secure your EU rights as a national of a member state of the Union before it’s too late.

 

 

Six advantages of a Spanish residency permit

  1. 1.Freedom to move within the Schengen Area

 

With a Spanish residency permit you are granted unfettered access across the Schengen Area. Avoid pesky passport controls, avoid multiple visa applications, avoid long queues. A residency permit allows you visa-free access to all 26 Schengen countries.

 

  1. 2.Right to live in Spain (Europe)

 

Again, most UK nationals take this for granted, but in a post-Brexit world this will be far more challenging. A Residency permit legally allows you to remain within the Union territory unmolested and go about your life. Illegal aliens, who do not have a valid residency permit, and overstay the 90-day period, may be subject of deportation to their home countries.

 

  1. 3.Right to work

 

A residency permit allows you to seek a job normally. Employers in Spain, going forward, are going to be asking job seekers to prove they are in Spain legally to avoid large fines on hiring illegal immigrants.

 

  1. 4.Right to study

 

A residency permit allows students to live and study in Spain (Europe).

 

  1. 5.Right to vote

 

Have your say on local elections, vote for a mayor to improve things in your town.

 

  1. 6. Right to public healthcare (S1)

 

After you attain a Spanish residency permit, UK pensioners may apply for a full transfer of their accrued UK healthcare rights over to Spain using the S1 procedure. For as long as you remain in Spain, you may use the Spanish healthcare system in equal rights to any native. We offer this service for a flat fee:  Transfer of healthcare rights (S1 - Social Security Homologation).

 

In conclusion

 

Any EU national living in Spain for more than 90 consecutive days must apply for a Spanish residency permit, by law.

 

Please note that you may remain lawfully, within Spanish territory, a maximum of up to 90 days within every rolling six-month period within a calendar year.

 

As the Brexit transition period draws to an end, it is important UK nationals attain a Spanish residency permit taking advantage of the lenient conditions currently in existence while they last.

 

You should be advised that attaining a Spanish residency permit is taking (in Malaga) several weeks, so please plan ahead accordingly. What matters is that you file for it before the 31-12-2020 deadline.

 

Please, for your own sake, don’t sleep on this as the clock is ticking.

 

For updated information on all residency matters, please browse UK Gov Living in Spain Guidance.

 

 

Myspainresidency has a 100% track record attaining Spanish residency

 
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