Spain offers unique investor opportunities to non-EU foreign nationals who decide to invest into Real estate property. The program is called Golden Investors Visa program and it offers non-EU applicants and their families the opportunity to attain the right to live in Spain and visa free travel within the Schengen area. The minimum amount of Real estate investment has to be EUR 500,000 in order to benefit from EU Golden Visa in Spain.
The Spanish investor visa can be renewed every two years. After five years it is possible to gain permanent residency and after ten years citizenship. It is not necessary to live in Spain in order to retain and renew the residency visa permit.
A special tax decree passed in 2005 with the aim of boosting the national economy by attracting executives and qualified personnel from abroad. The incentive was that the displaced workers who would change their tax residence to Spain would have a tax reduction in their Spanish Income tax meaning that as non-resident they would be only liable to pay the general rate of 24% instead of 43%. However, the 24% tax rate applies to earnings between 0 to EUR 600,000, earnings above that will be taxed at 45% tax rate.
It was popularly called the Beckham Law, because one of the first to take advantage of it was the famous Real Madrid footballer David Beckham, ironically, later the law was amended and now it excludes professional athletes from this regime.
If You want to learn how You can benefit from the EU Golden Visa or need tax consultancy, do not hesitate to contact our English speaking legal experts at: firstname.lastname@example.org