New Residency Options for foreign capital investment

Foreign investors can rely on our International Properties team to select, prioritize, contract and manage acquisitions in Madrid (such as Grupo YOU). Since early 2000, International Properties have closed important deals in Salamanca area. Please read below to understand the steps to succeed with Spain’s and Madrid’s real estate regulations that affect your business:

Acquisitions

The amount of foreign investment in Madrid, whether to live or invest, has experienced exponential growth in recent years, mainly due to economic stability.

Spain has become one of the countries of the European Union that is growing faster, so do the real estate investments that are being made in Madrid, from countries such as China, Mexico, Venezuela, Colombia, England and the United States.

The first step to buying a property is to define what your interests and / or needs are. The main reason why it is invested more and more in Spain’s capital, is to have a second residence, and, second, to invest because currently in the real estate market in Madrid, it is possible to find good properties with a high profitability and great potential for revaluation, since the market is constantly growing. In addition, it must be said that Madrid is one of the European capitals where it is cheaper to invest in real estate. For this reason, it is also one of the cities with more foreign investment.

If you decide to make a real estate investment in Spain, you must know that Madrid, being the capital, is where the headquarters of the main financial institutions of the country are concentrated. You can also find the most innovative companies, together with large multinationals, without forgetting that political and administrative power is concentrated in the Villa de Madrid. The most important universities in our country are located in the city. It has great infrastructure, good communications, both nationally and internationally and is the epicenter of national trade, as well as having a growing services sector that has seen its business volume thanks to tourism.

Madrid is a city open to the world and very welcoming. It offers its inhabitants and all its visitors a wide variety of cultural offerings ranging from exhibitions in the best museums, plays of international prestige, opera, along with a variety of cinemas, etc. In addition, you can find the most exclusive stores and the most prestigious and recognized firms worldwide, in the well-known “Golden Mile” and we can not forget the great gastronomic offer available. Furter to all this, one of Madrid’s strengths is the safety of its streets. One of the favorite activities of locals and tourists is to stroll through its streets, discover the most emblematic corners of the city, walk or play sports in the Retiro Park and finish at the Temple of Debod, admiring its wonderful sunsets.

Legal considerations for foreign people real estate acquisitions in Madrid

To buy a property in Madrid, we have prepared some useful tips.

Real Estate acquisition for foreign people. Mandatory documentation

1. Firstly: foreigners must request the Foreigner Identification Number (NIE), which serves as an identification for public administration. If you are located in Spain, the agency to request it is the immigration office. If you are in the country of origin you can go to the Spanish embassy or consulate.
2. The requests of the NIE for economic, social or professional reasons will be accepted those in which the applications that have been presented in Spain personally by the interested party or through a legal representative. The applications that are presented in the Diplomatic Representations or in the Consular Offices of Spain, which are located in the nation of residence or of origin of the requesting foreigner, corresponding to their residence demarcation. In addition, the following documents must be attached: Standard application form (EX-15), duly completed and signed by the foreigner. Original and copy of the complete passport, or of the identity document of the interested party, or travel title or current registration card. A letter that expresses the social, economic or professional causes that sustain the application for the identification number of foreigners. Model 790-012 Printed, which accredits the payment of the established fee, which must be paid at the Consulate through Money order. Original passport and one (1) copy of the biographical page in which the data of the owner are reflected. In the case of Citizens of the European Union, it will be possible to participate with a copy of the identity card.
3. Mortgages and Loans. There are different entities and each one has specific conditions, for this reason it is convenient to put yourself in the hands of experts. At Directing International Properties, we will look after your interests to inform you about the most advantageous option for you. The most important points to consider before choosing your mortgage are the interest rates and the loan amount.
4. Acquisiiton-Sale Contracts. The signing of the deed consists of the formal delivery of the property through the delivery of your keys and the payment of the balance of the purchase price, either by the acquirer or by the mortgage company / bank.

Legal advice

It is important to have good Legal Advice in a purchase process.

Directing International Properties has agreements with different law firms and real estate professionals in different countries such as Mexico, Venezuela, Colombia, England, China and the United States.

Our Real Estate Advisors have extensive experience and will be responsible for guiding you throughout the process.

Mortgages and Loans

There are different entities and each one has certain conditions, for this reason it is convenient to put yourself in the hands of experts.

At Directing International Properties, we will take care to inform you of the most advantageous option for you.

The most important points to consider before choosing your mortgage are the interest rates and the loan amount.

Purchase-Sale Contracts

The signing of the deed consists in the formal delivery of the property through the delivery of your keys and the payment of the balance of the purchase price, either by the buyer or by the mortgage company / bank.

Real Estate Investment Opportunities

With the termination of the Golden Visa program, non-EU individuals seeking residency in Spain might consider the following alternatives:

1. Non-Lucrative Visa

• Overview: Designed for individuals who can financially support themselves without engaging in employment or professional activities in Spain.Requirements: Applicants must demonstrate sufficient financial means (around €2,400 per month for an individual) and possess comprehensive private health insurance.

2. Entrepreneur Visa

• Overview: Tailored for those intending to launch innovative business ventures in Spain that contribute to the country’s economy.
• Requirements: Submission of a detailed business plan highlighting the project’s viability, innovation, and potential job creation.

3. Work Visa

• Overview: For individuals who have secured employment with a Spanish company.
• Requirements: A valid job offer and, in certain cases, verification that the position cannot be filled by a resident worker.

4. Student Visa

• Overview: Intended for non-EU nationals wishing to pursue studies in Spain.
• Requirements: Enrollment in a recognized educational institution and proof of sufficient financial resources.

5. Family Reunification

• Overview: Allows family members of legal residents or citizens to join them in Spain.
• Requirements: Proof of relationship, financial means, and suitable living conditions in Spain.

• Permanent Residency: After five years of legal residency in Spain, individuals can apply for permanent residency, which allows them to live and work in the country indefinitely.
• Spanish Citizenship: After ten years of continuous residency, individuals may be eligible to apply for Spanish citizenship. Requirements include demonstrating integration into Spanish society, passing language and culture tests, and renouncing prior citizenship (except for nationals of certain countries like Latin America, Andorra, and the Philippines).

What is the role of Directing International Properties?

1. Detect investors’ needs.
2. Inform about the requirements.
3. Provide business advice.
4. Give legal support.
5. Process and manage records.
6. Have a team of advisors at the national level and foreign collaborators such as law firms and agencies in the countries of origin.