Is my family included in the application?
Generally the spouse, all children under the age of 18 and any other legal dependents are included in the application. Under some circumstances other family member may be included.
Are there any age restrictions for the principal applicant?
There is no maximum age restriction for primary applicants however it is required that the primary applicant be at least 18 years old.
Can I set up a business?
Spain welcomes new business ventures, and the Golden Visa presently business set up, PTS can advise on the best corporate structure. Additionally, if you have a business trading across borders, a tax efficient international company can be enormously beneficial.
How long do the various processes take?
The residency process will be completed within a few months whilst citizenship can takes 10 years.
What are the benefits of residency?
Residency, allows free movement of non E.U. citizens within mainland Europe. Additional benefits and freedoms available include bank accounts purchase of motor vehicles and other goods with finance in fact everything that one would expect from one’s home country.
What about finance for purchase of a property?
The fallout from the banking crisis in Spain is still evident hence mortgage finance is much more difficult than in the boom years when very high LTV loans fueled the property market.
Having said that, the green shoots of recovery are appearing and banks are now back in the mortgage business albeit in a restrained manner, thus a low LTV to high quality borrowers can be arranged.
This is particularly relevant to those Golden Visa clients who are buying say a € 800,000 – €900,000 property and would like to finance the value over and above the € 500,000 qualifying investment.