Spanish Income & Wealth tax reminder

Raymundo Larraín Nesbitt, June, 2. 2021

Lawyer Raymundo Larraín gives us a gentle reminder on the tax obligations that residents in Spain must face (and in some cases, even non-residents).

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 have 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
8th of June 2021

I have written this short article as a gentle reminder for all taxpayers resident in Spain.

 

1. IRPF or personal income tax

 

Tax residents need to file income tax (IRPF, in Spanish) before the end of this month on their worldwide income & assets.

You are deemed tax resident in Spain if you meet one, or more, of the following points:

  • You spend more than 183 days in a calendar year in Spanish territory.
  • Your centre of financial interests is located in Spain.
  • Your spouse and/or underage children live in Spain.

 

If you meet any of the above criteria, you should be filing taxes in Spain.

Scores of expatriates have filed for Spanish residency over the last two years, and now need to meet their newly-acquired tax obligations derived from their new tax status.

Deadline to file this tax is end of June 2021.

 

2. Wealth tax

 

In addition to the above tax obligation, affluent residents may need to file as well for wealth tax in Spain. As there is devolved competencies on this matter, I won’t go into details as each region is empowered to enact their own laws on this – please seek tax advice from us if it affects you.

Additionally, even if you are non-resident in Spain, but happen to hold a sizeable estate in Spain, you must file wealth tax in Spain.

In other words, and for the avoidance of doubt, wealth tax is paid by both residents and non-residents alike. The difference are the tax allowances at play.

The deadline to submit this tax is also by the end of June 2021.

 

“The income tax has made liars out of more Americans than golf.” Will Rogers

William Penn Adair Rogers (1879 – 1935). Was an American stage and film actor, vaudeville performer, entertainer, cowboy, humorist, newspaper columnist, and social commentator from Oklahoma. He was a Cherokee citizen born in the Cherokee Nation, Indian Territory.

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

Larraín Nesbitt Lawyers is a law firm specialized in conveyancing, residency, inheritance, taxation, and litigation. You can contact us by e-mail at info@larrainnesbitt.com, by completing our contact form, or by telephone on (+34) 952 19 22 88.

Taxation services available from LNA

 

Related tax articles

 

Article originally published at Spanish Property Insight: Spanish Income & Wealth tax reminder

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.

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

Raymundo Larraín Nesbitt, May, 22. 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.

1. Investor visa – Golden 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

 

 

I refuse to join any club that would have me as a member.” – Groucho Marx

Julius HenryGrouchoMarx (1890 – 1977).  Was born to Jewish immigrants who fled from the terrors of Europe (Germany and France) and would be welcomed with open arms by a young US, terre d’accueil. He was an American comedian, actor, writer, stage, film, radio, and television star. He is generally considered to have been a master of quick wit and one of America’s greatest comedians. Along with his five siblings, they shot 13 movies. They are commonly referred to as the Marx Brothers (Chico – Leonard, Harpo – Adolph, Groucho – Julius, Gummo – Milton, and Zeppo – Herbert).

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

 

Article originally published at Spanish Property Insight: How to spend over 90 days in Spain – Residency visa overview

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.

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Non-Lucrative Visa Explained

Raymundo Larraín Nesbitt, April, 29. 2021

Solicitor Raymond Nesbitt explains to us one of four legal ways to 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 have 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
8th of May 2021

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. But other applicants, who are not of pensioner age, are also welcome to apply i.e. students. This visa is also a good option for those who want to test the waters and are considering living in Spain long term.

The non-lucrative residency permit allows you to stay in Spain for a period of 1 or 2 years (as it is a temporary residency authorization), plus renewals. Initially, for one year and then on two renewals of two years each. At the time of applying for a third one, you may apply for long-term residency in Spain. In case you apply for long-term residency, you should renew it every 5 years.

As it has a non-profit nature, I stress again it does not allow you to engage in any professional activity or employment. You are required to be self-supporting, relying on your own means to live. If you are able to prove that you have enough funds to this end, and that your stay in the country won’t induce government aid, you will qualify for this visa.

Attaining Spanish residency indirectly implies you will eventually become a Spanish tax resident. Please note this visa service is only open to non-EU residents. Once you attain it, you also have the advantage of moving unfettered through the Schengen Area (access to 26 countries), besides Spain.

Requirements

  • Not be already in Spain illegally.
  • Not be banned from entering Spain.
  • Clean criminal record (previous 5 years).
  • You must have your own health or medical insurance, with full coverage in Spain.
  • At least €27,000 annually for the main applicant. For each dependant a further €7,000.
  • You must not suffer from any of the diseases that can have serious public health repercussions.

 

Frequently asked questions

 

  1. Will my family be included in this visa?

Yes, as dependents.

  1. How long does this work visa last?

One or two years, then on renewals. After you have completed five years you may apply for a permanent residency card.

  1. How much money do I need to invest?

Nil, this visa does not have attached any investment requirements in Spain unlike other visas.

  1. Do I need to hire private health insurance?

Yes, this is a core requirement.

  1. Do I need a medical certificate?

Yes. You will need to provide a certificate from your GP with a specific wording we will provide you with, don’t worry.

  1. Do I need to live in Spain all year round?

No, not at all. This visa allows you to stay in Spain all year round, yes, on bypassing the pesky 90/180-day rule. But you are not ‘forced’ to remain in the country for any period of time, it’s up to you really. The bottom line is that you are free to come and go as you please from Spain.

  1. How much savings do I need?

At least 27k/year. The ability to categorically prove you are self-supporting is a core requirement.

  1. Can I study in Spain with this visa?

Yes, you may. Because studying is classified as a non-lucrative activity. However, we have specific study visas. You may also apply for internships in companies.

  1. Do I need to prove my source of income?

Yes. You will be asked to supply copies of your home countries bank statements over the last 12 months to verify your source of income. In a way, Immigration Authorities are monitoring where exactly you derive your income over an extended period of time. Their goal is to verify you are indeed self-supporting and will not claim benefits when in Spain to make ends meet.

  1. How long does a non-lucrative visa take to arrange?

On average, 3 to 4 months through us.

 

LNA offers the following visa service for non-EU nationals: Non-lucrative visa

 

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

 

Article also published at Spanish Property Insight: The Spanish Non-Lucrative Visa Explained

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.

2.021 © Raymundo Larraín Nesbitt. All Rights Reserved.

... Read more

Lucrative visa explained (business visa)

Raymundo Larraín Nesbitt, April, 1. 2021

Lawyer Raymundo Larrain explains to us one of four ways 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 have 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
8th of April 2021

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.

Outlining and submitting a sound business plan is required by the Spanish Authorities. You will be required to work in the business plan which is submitted. You can either set up a new business or else take over an existing business. Renewals of this type of permit are guaranteed so long as the business is making a profit and money is not owed to either the Social Security or the Spanish Tax Office.

As stressed, devising a professional business plan is paramount to the success of this application; LNA can assist you both in devising one, to meet their stringent expectations, as well as attaining the residency permit itself.

This residency permit allows the investor’s family to live, and study in Spain.

Frequently asked questions

 

  1. Will my family be included in this visa?

Yes, your spouse and underaged children are regarded as dependants and will be included in the visa.

  1. How long does this work visa last for?

Initially one year, then on two-year renewals. After you have completed five years you may apply for a permanent residency card.

  1. How much money do I need to invest?

The figure varies, depending on the business, but we advise a minimum of between €80,000 to €100,000.

  1. Do I need to hire private health insurance?

No, unless you want to. When you work in Spain, you must be enrolled in Social Security which follows a monthly pay-in scheme. This already covers all your medical needs, both for yourself and your family.

  1. Do I need to live in Spain all year round?

If you want to be eligible for renewals, you need to spend more than six months within a calendar year in Spain (which automatically makes you tax resident).

  1. Is a business plan required?

Yes, we would take care of that. We work with registered economists who would draft you a professional plan and submit it to Spanish Immigration Authorities for approval.

  1. What type of business are we talking of?

There are no restrictions (other than your own qualifications to run a business). Most clients choose a business in line with their expertise that does not demand a formal qualification such as a boutique hotel, a bed&breakfast, a restaurant, retail outlets, import-export business, etc. You can also take over a going concern (existing business).

  1. How long does a work visa take to arrange?

On average, 3 to 4 months.

 

LNA offers the following residency service for non-EU nationals: Lucrative visa (self-employed)

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 residency articles

 

Article originally published at Spanish Property Insight: Lucrative residency permit

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.

2.021 © Raymundo Larraín Nesbitt. All Rights Reserved.

 

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EU-Family Regrouping (marriage visa)

Raymundo Larraín Nesbitt, March, 1. 2021

Lawyer Raymundo Larrain explains to us one of four ways 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 have 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
1st of March 2021

 

The 90-day rule

Post-Brexit, all UK nationals are subject to the 90/180 rule, both in Spain and in the Union. Basically, this means you cannot stay in Spain (or the Union) for more than 90 days within every rolling 6-month period. This has become a real nuisance for Britons who own property in Spain (or Europe), or who simply like to spend long periods of time enjoying its gorgeous weather.

I keep getting asked, almost every day, how to bypass the 90/180 rule. There are in fact four legal ways, and in this article, I will be covering the fourth one.

I’m going to keep this article short & simple, avoiding unnecessary legalities.

Who is this service for?

It’s intended for families or couples that have been separated, in and out of the EU. It seeks to reunite them in an expedite 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. But yes, ‘marriage visa’ certainly does have more of a ring to it, I get it.

EU-Family Reunification

All those UK nationals married to a partner who hold a passport of a member state of the Union, may apply for this residency permit.

The catch is that the EU national must already reside, or plan to reside, in the Union.

As Great Britain is after all a nation of nations, we all have commingled blood. It is not uncommon for Britons to trace back in their family tree some distant Irish relative. If one of the partners secures an Irish passport, for example, this would automatically qualify them both for a EU-family regrouping. The Republic of Ireland remains a member state of the Union. This would allow a British couple to formally attain a Spanish residency permit, allowing them to neatly circumvent the 90/180-day pesky limitation. They would no longer be subject to this rule, being able to come and go as they please from Spain.

However, if both partners have no real intention of relocating their residency over to the Union (i.e. because they both wish to remain UK residents), this permit is not an option.

Marriage

One of the core requirements (for couples) is that they need to be lawfully married (not separated). An updated marriage certificate needs to be produced, as part of the application procedure. This is why it's popularly known as a 'marriage visa.'

Requirements

  • Married.
  • One of them is an EU national, or has attained permanent residency in Spain.
  • Both need to relocate & live in Spain.

 

Advantages over other residency options

 

The advantages offered by EU family reunification compared to the other three residency options are countless; in fact, so much so, that in my opinion it even beats a Golden Visa hands down, which is widely regarded as the golden standard (excuse the pun).

Pros

  • Unlike a Golden Visa, you are not required to make a large investment in Spain. In fact, you are not required to make any investment in Spain!
  • Unlike a non-lucrative visa, this permit allows its holders to work in Spain, either as self-employed or employed.
  • Unlike a lucrative visa, you are not expected to make circa 30,000 euros a year. In fact, it has attached no minimum annual income requirements!
  • It allows you unlimited access & stay to Spain, not being constrained by the 90/180 rule.
  • Moreover, it allows you unfettered access to Spain and the Union (27 countries). The time spent in Spain does not count towards the EUs 90/180 rule. This is most interesting to businesspeople, as they can smartly combine time periods to (over)stay in the EU effectively overriding the 90/180 rule, on business trips and such.
  • Same-sex marriages are accepted.
  • Because of the intrinsic nature of reuniting separated families, the procedure is actually fast-tracked compared to other residency alternatives, as uniting separated families is an admin priority. In plain English, you attain it much faster than following the other three options.
  • Legal fees for this residency service are in fact lower than the other three alternatives.
  • By its own nature, it is meant to be a fast-tracked procedure, meaning you are required to submit much less paperwork to comply. In other words, it greatly streamlines the residency procedure cutting through all the red tape. Additionally, it also cuts down in expenses on sworn translations, apostilles and all assorted legalia. Every penny counts.

Cons

  • You actually need to relocate and live in Spain.
  • You actually do need to get married. Eh well, nothing is perfect.

 

Tax residency

As always, administrative residency and tax residency are two separate legal concepts. The fact that you apply for a residency permit, does not make you tax resident in Spain.

However, that said, both concepts do go hand in hand, and eventually overlap; if you live all year round in Spain, you will eventually become tax resident in Spain.

Conclusion

An EU family regrouping is one of four legal ways to bypass the pesky 90/180-day rule that now applies to all UK nationals in a post-Brexit world.

If you are considering this route, it is advisable you take legal advice beforehand on how this option may impact you taxwise.

An EU family regrouping is as good as it gets; it’s a win-win and has no strings attached (well, other than the getting married part).

 

“Life is short, but marriage is long... so drink up, and it will make it go a hell of a lot faster.” Quote from the movie “Rumour Has It…”

 

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

 

Golden Visa related articles

 

Article also published at Spanish Property Insight: EU-family regrouping

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.

2.021 © Raymundo Larraín Nesbitt. All Rights Reserved.

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

Raymundo Larraín Nesbitt, February, 18. 2021

Solicitor Raymond Nesbitt gives us an overview of the advantages offered by Spain’s Golden Visa scheme to UK nationals.

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

Yes, you do.

  1. 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. 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. 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. 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. 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. 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. 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 Larrain Nesbitt Abogados, 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 Larraín Nesbitt Abogados’: Golden Visa Service.

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.

LNA has a 100% track record attaining Spanish residency

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

Golden Visa Service

 

Residency services available from LNA

 

Golden Visa related articles

 

Article also published at Spanish Property Insight: Spanish Golden Visa for British, it’s retroactive!

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. Voluntas omnia vincit.

2.021 © Raymundo Larraín Nesbitt. All Rights Reserved.

 

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Spanish Golden Visa for British investors after Brexit

Raymundo Larraín Nesbitt, January, 21. 2021

Solicitor Raymond Nesbitt gives us an overview of the advantages offered by Spain’s Golden Visa scheme to UK nationals.

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 have a long track record successfully assisting expats all over Spain.

You can review here our client’s testimonials.

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 *

*includes one family unit

 

“Democracy owes its existence to Christianity.” – Robert Schuman

Jean-Baptiste Nicolas Robert Schuman (1886 – 1963). Was a French statesman. Schuman was a Christian Democrat (Popular Republican Movement) political thinker and activist. Twice Prime Minister of France, a reformist Minister of Finance and a Foreign Minister, he was instrumental in building postwar European and trans-Atlantic institutions and was one of eleven Founding Fathers of the European Union, the Council of Europe, and NATO.

In fact, all Founding Fathers of the Union were Christian, which explains the thoughtful choice of Rome - Christianity's bedrock - to sign in 1957 the EEC’s foundational treaty, a forerunner of what in time would be known to us as the European Union, or Union. I’m guessing Pericles would like to have a word or two on this quote.

LNA has a 100% track record attaining Spanish residency

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

Larraín Nesbitt Lawyers is a law firm specialized in conveyancing, residency, inheritance, taxation and litigation. You can contact us by e-mail at info@larrainnesbitt.com, by completing our contact form or by telephone on (+34) 952 19 22 88.

Residency services available from LNA:

 

Golden Visa related articles

 

Article originally published at Spanish Property Insight: Spanish Golden Visa for British investors after Brexit

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. Voluntas omnia vincit.

2.013, 2.017, 2.018, 2.019, and 2.021 © Raymundo Larraín Nesbitt. All Rights Reserved.

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Modelo 720 – Tax form 720

Raymundo Larraín Nesbitt, January, 1. 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 have a long track record successfully assisting expats all over Spain.

You can review here our client’s testimonials.

Article copyrighted © 2020, 2021 Plagiarism will be criminally prosecuted.

Inset photo: courtesy of Self Bank

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Abogados
8th of January 2021

In 2013 the Spanish Tax Office implemented a new tax obligation whereby all tax residents in Spain, who hold over €50,000 in assets abroad, need to complete this tax return before end of March 2021 deadline.

By 2018, over 5,000 taxpayers had already been (heavily) fined on failing to disclose they held substantial assets abroad. This figure continues to increase year on year. We stress the fines for non-compliance are the steepest we’ve ever seen. In fact, so much so, they have been challenged at Brussels. The infamous modelo 720, despite being the object of heated controversy, remains very much an active tax obligation with which taxpayers must contend with. If you fall within its scope, I strongly advise you to comply or else face the risk of stiff fines.

It should be stated this tax form is only for reporting purposes; you do NOT pay any tax on submitting it. Resident taxpayers already pay income tax on submitting their annual I.R.P.F. tax returns once a year.

You also have Mark’s pungent article explaining it which, unlike mine, doesn’t pull any punches.

I have structured my article as a FAQ for ease of comprehension.

Who needs to declare?

All Spanish tax residents who own assets overseas on or over €50,000.

Again, and for the avoidance of doubt, if you are non-resident in Spain you do NOT need to submit this tax return; it is only for residents.

Who is considered tax resident in Spain?

The Spanish Tax Office applies – amongst many others – the following broad criteria:

  • You spend more than 183 days within a calendar year in Spanish territory.
  • Your centre of financial interests is located in Spain.
  • Your spouse and/or underage children live in Spain.

Reporting categories

There are three reporting categories: bank accounts, investments and immovable property.

Obligation to report

You must report all assets in a particular category if the value of your total assets within it exceeds €50,000.

2021 tax submission period

From the 1st of January until the 31st of March 2021.

Can I file it after the submission period?

Yes, but hefty penalties apply. Ask us.

If you have already filed tax form 720 in the past

You only need to file it again if:

  • The value of an existing asset grew by more than €20,000, or
  • You sold an asset, or
  • You obtained a new asset.

Penalties for non-compliance

The disproportionate fines levied are (very) stiff.

  • Failing to file 720 or filing it incorrectly: €5,000 per infraction.
  • Minimum fine of €10,000 for each group of assets.
  • Penalty of 150% on unpaid income tax.

The Common Reporting Standard and you

Please take good note that with the advent of the Common Reporting Standard (CRS), signed by over 100 countries to combat tax evasion, as from the 1st of January 2018, the Spanish Tax Office is being spoon-fed fiscal information by your home tax office.

For example, both HM Revenue & Customs and Ireland’s Revenue Commissioners are busy supplying the Spanish Tax Office with detailed information (and vice versa) on all your overseas assets and reported income derived abroad as from the 1st of January 2018.

In plain English, your home country’s tax office will likely have already informed the Spanish Tax Office of the assets you hold abroad. It is in your best interests to be pro-active and come clean before you are served with a legal notice imposing humongous fines on you; as it’s happened already to over 6,000 unsuspecting taxpayers. The tax office likes waiting till the last moment before imposing fines to rake in as much interests as is legally admissible before the statute of limitations kicks in. Fines on non-compliance start at five figures and often are six-figures, or higher.

Brexit and attaining Spanish residency

Scores of UK nationals applied for a Spanish residency permit in the run up to Brexit. Unbeknownst to them, many will be now regarded as tax residents in Spain. Any UK national who is tax resident, and holds over 50,000 euros in assets abroad, must file tax form 720.

If you want peace of mind, you should sort out your tax affairs and submit this tax return to avoid humongous fines.

The last word

We strongly advise you to submit tax form 720 if you are (tax) resident in Spain to avoid steep penalties. If you plan to submit it, please contact us well ahead of the submission deadline (31st of March 2021) as it takes days to prepare and process. If you are unsure if you qualify for it, just give us a buzz and one of our friendly staff will answer your queries to allay your fears.

Si vis pacem, para bellum.” Vegetius

Loosely translated as: “If you want peace, prepare for war.”

Publius Flavius Vegetius Renatus (4th Century A.D.). Writer of the Later Roman Empire. Nothing is known of his life or station beyond what is contained in his two surviving works: Epitoma rei militaris (also referred to as De re militari), and the lesser-known Digesta Artis Mulomedicinae, a guide to veterinary medicine. The quote comes from his military tract. It mainly focuses on military organization (legion) and how to react to certain occasions in war.

Larraín Nesbitt Lawyer’s taxation service:

Tax form 720

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

Larraín Nesbitt Lawyers is a law firm specialized in taxation, conveyancing, inheritance, and litigation. We will be very pleased to discuss your matter with you. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 952 19 22 88 or by completing our contact form to book an appointment.

Related tax articles

 

Article also published at Spanish Property Insight:  Modelo 720 Tax form 720

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.

2.018, 2.019, 2.020, and 2.021 © Raymundo Larraín Nesbitt. All Rights Reserved.

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Do you need an updated NIE certificate to sell property in Spain?

Raymundo Larraín Nesbitt, December, 1. 2020

Marbella-based Larraín Nesbitt Abogados (LNA) has over 17 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 have a long track record successfully assisting expats all over Spain.

You can review here our client’s testimonials.

Article copyrighted © 2020. Plagiarism will be criminally prosecuted.

 

 

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

We published several years ago (in eight languages) a detailed article explaining what a NIE number is and how to go about getting one. A NIE number is assigned by the national police and is yours for the remainder of your lifetime, it never changes. Many years ago, Spanish police issued them as an A4 sized certificate that had a three-month expiry date printed on them. Modern-issued NIE numbers no longer show ‘expiry’ dates.

At times notaries, on selling, demand a seller procures a new updated NIE number certificate. This is because they have seen the 3-month expiry date is (long) overdue and are asking for a ‘new’ updated copy. In truth, the ‘new’ certificate will bear exactly the same number and details as the former, the only difference is that there will not be any expiry date on it.

Imagine sitting the morning of completion at a notary’s office, surrounded by a group of anxious strangers, and feeling a knot at the pit of your stomach when the notary officer informs you the sale has fallen through because your NIE number is not accepted by the notary! Now imagine millions of euros are at stake. It can well happen. The sale needs to be postponed or else change over to another notary (not always possible when mortgage loans are involved, as is often the case).

Then again, some notaries, who are not prone to nit-picking, will have no qualms accepting an ‘expired’ NIE number certificate. They will find it completely unnecessary to re-apply for a new copy and are more than happy to accept an old one which shows a 3-month expiry date.

The problem is that sellers cannot pick the notary witnessing a sales deed. This is a right that belongs only to buyers, who are legally entitled to pick whichever notary pleases them most. One of the many disadvantages this poses to sellers, is that they are unable to know beforehand - often until it is too late in the day - which notary will be the one selected by the buyer. Meaning they cannot know if the selected notary will demand they update their old NIE number certificate, or not, on selling.

This can be easily pre-empted by your appointed conveyance lawyer on including a clause in the POA to attain a duplicate NIE number should the need arise on selling. Bottom line, in practice it’s a bit akin to playing Russian roulette; a seller cannot know for sure if the chosen notary will demand an updated NIE certificate, or not. It is the duty of your conveyance lawyer to plan ahead for this eventuality and overcome any unforeseen obstacle.

Politicians were mostly people who'd had too little morals and ethics to stay lawyers.” George R.R. Martin

George Raymond Richard Martin (1948). Is an American novelist and short-story writer in the fantasy, horror, and science fiction genres. He is best known for his international bestselling series of epic fantasy novels, A Song of Ice and Fire, which was later adapted into the HBO dramatic series Game of Thrones.

 

At Larrain Nesbitt Abogados we have over 17 years’ experience assisting clients buying & selling property in Spain and dealing with its taxation.

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

Larraín Nesbitt Lawyers is a law firm specialized in conveyancing, taxation, inheritance, and litigation. We will be very pleased to discuss your matter with you. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 952 19 22 88 or by completing our contact form to book an appointment.

Legal services available from Larraín Nesbitt Abogados

Selling-related articles

 

Article originally published at Spanish Property Insight (SPI): Do you need an updated NIE certificate to sell property in Spain?

Please note the information provided in this blog post 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 on 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 dragons, Lannisters or self-serving politicians were harmed on writing this article. VOV.

2.020 © Raymundo Larraín Nesbitt. All Rights Reserved.

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6 advantages of a Spanish residency permit

Raymundo Larraín Nesbitt, October, 26. 2020

Marbella-based Larraín Nesbitt Abogados (LNA) has over 17 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 have a long track record successfully assisting expats all over Spain.

You can review here our client’s testimonials.

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. 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. 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. 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. Right to study

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

  1. Right to vote

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

  1. 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.

 

"I met my wife through playing golf. She is French and couldn't speak English and I couldn't speak French, so there was little chance of us getting involved in any boring conversations - that's why we got married really quickly." – Sean Connery

Sir Thomas Sean Connery (1930 – 2020). Was born in my beloved Edinburgh. Before pursuing a career in acting, he worked on several jobs such as milkman, Royal Navy sailor, lorry driver, footballer, bodybuilder, lifeguard, labourer, coffin polisher, artist’s model, and part-time babysitter (sic). At age 27 he would start his career as an actor which would bring him world-recognition as one of the best actors of his generation. His seminal role in the first James Bond movie would bring him much praise and years on he would be widely regarded as the best actor to play the incorrigible Bond. Other major roles he played were Marnie (1964), The Man Who Would Be King (1975), A Bridge Too Far (1977), Highlander (1986), The Name of the Rose (1986), The Untouchables (1987), Indiana Jones and the Last Crusade (1989), The Hunt for Red October (1990), Dragonheart (1996), The Rock (1996). He officially retired from acting in 2006, though he briefly returned for some voice acting roles in 2012. I came across him several times when I was younger at Aloha Golf in Marbella, where he lived for several decades with his second wife until they left for the Bahamas. A proud Scotsman, he swore he would never return to live in his native Scotland unless they attained political independence. True to his word, he would die abroad never seeing his dream come to fruition. He proudly sported a tattoo: “Scotland Forever.”

 

LNA has a 100% track record attaining Spanish residency

 

At LNA we assist UK nationals to apply for Spanish residency for the first time, or renewals, for a very competitive fee. You will be assigned an in-house specialist to deal with your matter. Call or e-mail us free of compromise.

Please note we only deal with residency permits on the Costa del Sol (Malaga province).

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

Larraín Nesbitt Abogados is a law firm specialized in residency, taxation, conveyancing, inheritance, and litigation. We will be very pleased to discuss your matter with you. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 952 19 22 88 or by completing our contact form.

 

Immigration & Residency services available from LNA

 

 Residency-related articles

 

Article also published at Spanish Property Insight: Six advantages of a Spanish residency permit

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 secessionist politician was harmed on writing this article. VOV.

2.020 © Raymundo Larraín Nesbitt. All Rights Reserved.

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