General Conditions of the Services Agreement for Investors. (Golden Visa in Spain)
First
This document establishes the conditions and requirements of the service offered by “The service provider” of one party and another “The Client”. In no case, “The service provider” will be responsible for the individual performance of “The Client”. Similarly, “The service provider” does not guarantee at any time the granting of any visa or residence permit as it is reserved matter of the public administration. “The service provider” is not responsible for the previous personal situation or lack of requirements to obtain the visa or residence permit, understanding that “The Client” is the principal interested party and in charge of knowing whether or not it meets the aforementioned requirements and established for the granting of the authorizations requested.
Second. Scope of service provision
The price of the service includes the advice and assistance of “The service provider” which includes:
-. Consultations via email or telephone calls in English, at the time previously agreed upon and according to the time difference between the country of “The service provider” and the country of “The Client”. For inquiries via email or calls in other languages it will be necessary to pay for translation.
-. Legal opinion on the investment.
-. Representation of “The Client” in Spain.
-. Assistance at the Airport of Spain. (does not include travel expenses, maintenance and lodging of any part of the service)
-Assistance to business meetings inside or outside of Spain strictly related to the investment and previous coordination of agendas between “The service provider” and “The Client”. (does not include travel expenses, maintenance and lodging).
Third. Professional fees
The fees for the provision of the Services to “The Client” will be those established at the time of contracting in the web portal or in the office, in accordance with the quantification criteria established therein. Unless otherwise indicated, the amounts of estimated or budgeted fees are net of the Value Added Tax and any other indirect taxes that are applicable, which will be included in the invoice as separate and discriminated.
The fees for the provision of services must be paid at the time of contracting. In case of withdrawal by “The Client”, they will be for the benefit of “The service provider”, the latter being subject to the respective refund based on the actions begun and not completed for reasons attributable to “The Client”.
Fourth. Procedures and Prerequisites for any Investment Visa that “The Client” must keep in mind
(Law to support entrepreneurs and their internationalization):
a) Not be irregularly in Spanish territory.
b) Be over 18 years old.
c) Not have a criminal record in Spain and in the countries where he has resided during the last five years, for crimes established in the Spanish legal system. (It is necessary to have a criminal record certificate legalized and translated according to the country of origin)
d) Not be rejected in the territorial space of countries with which Spain has signed an agreement in this regard. (registered in the S.I.S. “Schengen Information Service” or in the National Registry)
e) Have a public or private health insurance contracted with an insurer authorized to operate in Spain. (It is advisable to ask for advice regarding medical insurance coverage in order to be able to purchase insurance with sufficient coverage to comply with this requirement).
f) Have sufficient financial resources for themselves and their family members during the period of residence in Spain. € 25,560.48 for the applicant (€ 2,130.04 per month) and
€ 6,390.12 for each extra family member (€ 532.51 per month).
g) Pay the fee for the processing of the visa at the respective Spanish consulate.
Citizens of the administrative region of Hong Kong and Macao and Taiwan (citizens of Taiwan require an identity document number in their passport) are exempt from visa.
Countries whose citizens do not need a visa subject to CE Regulation 539-2001.
ALBANIA (1) – ANDORRA – ANTIGUA AND BARBUDA – ARGENTINA – A.R.Y.M. (Former Yugoslav Republic of Macedonia) (1) AUSTRALIA – BAHAMAS – BARBADOS – BOSNIA HERZEGOVINA (1) BRAZIL – BRUNEI DARUSSALAM – CANADA – CHILE – COLOMBIA – SOUTH KOREA – COSTA RICA – DOMINICA – EL SALVADOR – UNITED ARAB EMIRATES – UNITED STATES – GEORGIA (1) – GRANADA – GUATEMALA – HONDURAS – ISRAEL – JAPAN – KIRIBATI – MALAYSIA – MARSHALL ISLANDS – MAURITIUS – MEXICO – MICRONESIA – MOLDOVA (1) MONACO – MONTENEGRO (1) – NAURU (3) -NICARAGUA – NEW ZEALAND – PALAOS – PANAMA – PARAGUAY – PERU – SALOMON (ISLANDS) – SAMOA (6) – SAN CRISTOBAL AND NIEVES – SAN MARINO – S. VICENTE AND GRANADINAS (6) – SANTA LUCÍA – SANTA SEDE – SERBIA (1) (2) – SEYCHELLES – SINGAPORE – TIMOR ORIENTAL – TONGA – TRINIDAD AND TOBAGO – TUVALU – URUGUAY – VANUATU – VENEZUELA.
(1) The visa exemption applies to holders of biometric passports
(2) Excluding holders of passports issued by the Serbian Coordination Office
(3) The visa exemption will be applied provisionally from the day following the signing of a visa exemption agreement to be concluded with the European Union.
However, and independent of the Country, it is important to comply with the rest of the requirements so that entry into Spain is correct).
Other: Photos; Medical certificate that certifies the absence of illnesses of both the applicant and his family.
Fifth. Withdrawal
In case of withdrawal of service “The Client” is obliged to cancel any expense generated on the occasion, regardless of the phase and the result Fifth. Withdrawal In case of withdrawal of service “The Client” is obliged to cancel any expense generated on the occasion, regardless of the phase and the result.
Sixth. General Procedures for Any Investment
1.- Contract our services on the website by completing all the requested information.
2.- Grant general power to manage some phases of the process. The power of attorney document will be sent to you and translated so that you can personally present it at the consulate of Spain, once it is registered and authenticated at the Spanish consulate, “The Client” must send a certified copy of it to our office in Spain.
3.- Apply for the NIE (Foreigner identification number) You can apply personally before the Consulate of Spain, we can also present it on your behalf from Spain)
4.- To transfer the funds of the investment you must prove the origin of the income and justify the banking movements made in the last year.
5.- In some cases “The Client” has the option to come to Spain with a tourist visa to personally manage the procedures of:
-Request of the nie (identification number of foreigners)
– Make the investment and return to your country of origin to process the visa that will allow you to stay for a period of 1 year and then apply for a residence permit that will allow you to be in Spain for a period of 2 years. However, you always have the option to meet the requirements in your country of origin, to process the visa or, where appropriate, the residence permit and to take over to make the request of the nie and to manage the investment on your behalf.
Seventh. Application for the Residence Permit
Once the residence visa has been granted (issued for one year), the client has a period of 30 days to travel to Spain from its granting. Once in Spain you can apply for a residence permit. With this permit you can reside for two years without having to leave after 90 days. This residence permit of 2 years may be renewed every 5 years and after 10 years Spanish citizenship may be requested (there are citizens of some countries that have agreements with Spain and that enable the application for Spanish nationality before 10 years).
Eighth. Benefits of the Service:
-. “The Client” / Investor will know the basic characteristics of the investment.
-. “The Client” will be represented in Spain for the management of the investment process
-. You will obtain a legal opinion on the investment.
-. Communication in English by phone call or email with the possibility of communication in your language of origin. The communication in the language of origin is not included in the price of the service, therefore, “The Client” will be obliged to defray the costs of communication and translation when the language is not English-speaking.
-. Assistance at the Airport in Spain.
-. Assistance before Administrative Organizations.
-. Judicial Assistance (administrative and judicial resources in cases of denial or inadmissibility of the request).
Eighth. Specific requirements according to the type of investment
Purchase of Real Estate in Spain
“The Client” interested in obtaining a visa and then a residence permit through the purchase of real estate in Spain (houses, apartments, land, buildings, warehouse, industrial building, etc.) must acquire new or used properties with a minimum investment of EUR 500,000.00 (excluding the costs of registration in the property registry, notarial deeds, transmission taxes, etc.).
The accreditation of the purchase of the property of the real estate will be by certification of ownership and charges of the Property Registry that corresponds to the property or real estate. The certification may incorporate an electronic verification code for online consultation. This certification will include the amount of the Purchase. It can also be accredited by public deed. If at the time of the visa application, the purchase of the property is in the registration phase of the Property Registry, it will be sufficient to present the certification stating the purchase document, accompanied of documentation that accredits the payment of the corresponding taxes.
Deposits in financial institutions
In the case of investment by bank deposit, a certificate from the financial institution must be presented stating that “The Client” is the sole holder of the bank deposit in the amount of One million euros.
Purchase of Spanish Public Debt Securities
A certificate from the financial institution or the Bank of Spain will be presented stating that “The Client” is the sole owner of the investment for a period equal to or greater than 5 years and for an amount of Two million euros.
Purchase of shares or participations in Spanish companies
In the case of investment in shares not quoted on the stock market or social participations, the copy of the investment statement made in the Foreign Investment Registry of the Ministry of Economy and Competitiveness must be submitted.
In the case of investment in shares listed on the stock exchange, a certificate from the financial intermediary will be presented, duly registered with the National Securities Market Commission or the Bank of Spain.
In any of the above cases, the investment must be in the amount of One million euros.
Investment Funds
In the case of closed-end investment funds or venture capital funds set up in Spain, a certificate shall be presented by the fund’s management company, incorporated in Spain, duly registered with the National Securities Market Commission, stating that “The Client” has made an investment of at least one million euros in a fund or funds under its management.
Business project
In this case, a favorable report must be submitted to confirm that the business project presented has general interest reasons. The report will come from the Economic and Commercial Office.
Compliance with at least one of the following conditions will be assessed:
1st Creation of jobs.
2. Realization of an investment with relevant socioeconomic impact in the geographical area in which the activity will be developed.
3.º Relevant contribution to scientific and / or technological innovation.
Lawyer. Lino José García Noriega. Version: March 2019.