Spanish “Golden Visa” Program
This program consists on allowing the holder and his family to reside in Spain and have free entrance to the Schengen area, without the need of issuing a separate visa, for at least one year, with the only requirement being to make a significant investment in Spain and meeting the following requirements:
- Purchasing real estate in Spain with a net investment of at least 500,000€;
- Providing proof of investment;
- Having public or private health insurance;
- Family certificates when applying for visas for the investor’s spouse and/or children;
- Police clearance; and
- Health certificate.
The visa enables the investor to a multiple entrance visa, granted for a one year period that does not require further follow up procedures in Spain (does not require processing an Identity Card).
When the visa expires, the holder can apply for a two year residence permit, which can also be renewed for an additional two years. Obtaining a visa or residence permit does not necessarily mean becoming a tax resident in Spain.
The holders of a Spanish Residence Permit / Golden Visa will not require a visa to enter the Europe Schengen area. They can transit and enjoy free movement in the Schengen area for a maximum period of three months (90 days) per half-year from the date of first entry.
PROPERTY WEALTH TAX FOR NON-RESIDENTS.
Royal Decree 13/2011, 16th of September
Its reintroduction, following the published law, will only be for a two-year period, 2012 and 2013, which corresponds to tax periods 2011 and 2012, respectively.
Spanish name: Impuesto sobre el Patrimonio.
Note: This tax was eliminated as from 01/01/2008 but has just been reintroduced (September 2011) with several important changes and other issues.
Description: Everyone who owns property in Spain (residents and nonresidents alike) has to pay an annual wealth tax based on the net value of their assets in Spain after permitted deductions, such as mortgages. This tax is collected by regional governments.
Tax base and rate: The tax is based on the net value of you property (less mortgage, if any) or another value deemed appropriate by the tax authorities, with a tax-free allowance of €700,000. The tax rate works on a sliding scale with marginal rates starting at 0.2% and rising to 2.5%.
Depends upon the autonomous region where your property is located. No wealth-tax to pay in most regions if the net value of your property does not exceed €700,000.
Energy Efficiency Certificate
Royal Decree 235/2013, of 5th April 2013, approving the basic procedure for the certification of energy efficiency of buildings. If you are selling a home you should obtain a certificate before it is advertised in order to provide prospective buyers with energy performance information about the property. Rentals should obtain a certificate if the property is used over four months of the year. The certificate must be issued by a certified assessor who will visit the property to carry out a survey. They should be an architect, engineer, or a qualified technician who is authorised to undertake building projects and thermal installations for buildings. Once the survey is complete the assessor will take a few days to produce the certificate. The cost of the certificate is not set by the government but by the assessor, and depends on the total floor space of the property.