We are pleased to announce that Orience International is a new member of the IMC Group, being the first Spanish company to be part of the group. The IMC (Investment Migration Council) is the worldwide association for investment migration and citizenship-by-investment, bringing together the leading stakeholders in the field, like lawyers, financial service practitioners, bankers, investment advisors, brokers or insurance providers, and giving the industry a voice.

One of the objectives of the IMC is to set the standards on a global level and interact with other professional associations, governments and international organizations in relation to investment migration. Moreover, the IMC helps to improve public understanding of the issues faced by clients and governments in this area and promotes education and high professional standards among its members.

For Orience International being a member of the association it means to benefit from keeping up-to-date on latest trends and developments in the field. As Oriol Molas, Orience International CEO, has explained, “additionally, obtaining the recognition from the IMC Group it is a fantastic new, which let us to demonstrate the great job we are doing and showing that we stay at the forefront of the latest industry standards and procedures.

On the other hand, being a member of IMC Group gives to the clients and international investors the security and tranquility we are taking the right decision every moment, guide by honesty, confidentiality, integrity, ethical practice and disciplinary rules and procedures.

The IMC Group is based in Geneva and it has representative offices in New York, London and Gran Cayman and it is constituted as a non-profit association. Nowadays it is integrated by more than 20 members, which they have to apply the Code of Ethics and Professional Conduct.

Finally, and since last year, the organization is in special consultative status with the Economic and Social Council of the United Nations.

Order SND / 421/2020, of May 18, by which measures are adopted relating to the extension of authorizations to stay and reside and/or work and to other situations of foreigners in Spain, in application of Royal Decree 463/2020 , of March 14, declaring the state of alarm for the management of the health crisis situation caused by COVID-19.

The Spanish government has finally established and clarified the situation of foreigners in Spain with regard to residence permits, visas and expired stays. With this measure, legal security is granted and those affected are prevented from finding themselves in a supervening irregularity with a complicated solution.

In the next article we talk about this announcement:

Although it is true that RD 463/2020, of March 14, already established the suspension of administrative deadlines, prescription and expiration, to date the situation of many foreigners whose authorization or Visa expired during this extraordinary situation caused by COVID-19.

The order establishes that the residence and/or work authorizations, the stay authorizations for studies, mobility, internships or volunteering, the family cards of a citizen of the union and the long-term residence authorizations that have expired during the validity of the alarm status or have expired in the 90 calendar days prior to their declaration (of the alarm status) will be automatically extended. The extension begins the day after the expiration and lasts up to 6 months from the end of the alarm state.

Section 6 of Article 1 establishes that renewal applications may be requested at any time within 6 months or up to 90 calendar days after the expiration date, without prejudice to the initiation of a sanction file for the delay in filing.

The order also regulates the expiration of short-stay visas (not exceeding 90 days) and establishes that their duration is automatically extended for a period of 3 months.

However, even if they are Schengen visas, the validity only applies to Spanish territory and this extension will be computed to calculate the maximum authorized time for future stays or requests for these visas.

The youth mobility agreements and study stay visas of up to 180 days duration are also extended for a period of 3 months, provided that the holder is in Spain and has not been able to return to their country of origin.

Another very important point to keep in mind is the entry of third-country nationals whose documentation or authorization has expired while abroad. Specifically, the order establishes that the holders of an authorization, a family card of a citizen of the Union, a long-term foreigner card or long-term visas for investors and entrepreneurs may enter Spain even with the card or visa expired. Travel documentation (passport) is required to be current.

Finally, absences from Spanish territory caused by the impossibility of returning to the country will not count when requesting renewals of authorizations or first requests for long-term authorizations.

If you have any doubt, do not hesitate to contact us, we will be very pleased to help you.

 

Zahra Maaroufi, lawyer specialist in residency permit in Orience International

 

Portugal, a transcontinental country located in the southwest of Europe, on the Iberian Peninsula. It limits to the east and north with Spain and to the south and west with the Atlantic Ocean. It also includes the autonomous archipelagos of the Azores and Madeira located in the northern hemisphere of the Atlantic Ocean. A country of great opportunities and, therefore, today we will talk about 4 faq’s about the Golden Visa Portugal.

 

  1. Golden Visa Portugal

 The Golden Visa program was launched by the Portuguese authorities in October 2012 and is a quick way for foreign investors from countries outside the European Union to obtain a valid permanent residence in Portugal, which also allows them to travel freely in most of the European countries (Schengen area).

 

  1. Main benefits of the program

The Golden Visa program aims to provide investors with the following benefits:

  • It is not necessary to obtain a visa to enter Portugal.
  • It is not necessary to obtain a visa to travel in Europe (Schengen area).
  • It is possible to live and work in Portugal, while maintaining residence in a different country.
  • The minimum stay periods are very low.
  • Permanent residence after 5 years.
  • Portuguese citizenship after 5 years.
  • Residence extended to the investor’s family.

 

  1. Requirements for obtaining the Golden Visa in Portugal

  • 280.000€ investment in real estate and rehabilitations in eligible properties with more than 30 year or located in rural aeras.
  • 350.000€ investment in real estate and rehabilitation in eligible properties with more than 30 years or located in urban areas.
  • The acquisition of a property with a value equal to or greater than € 500,000.
  • Create at least 10 jobs in Portugal.
  • Capital transfer of 1.000.000€

Only investments made after October 8, 2012 are considered.

 

  1. Requirements that the investor must meet

 A reduced number of requirements are presented by the investor. This program requires that the investor must comply with the general requirements applicable to all types of qualified investments and also for the specific needs of each type of investment.

All investors must meet the following requirements:

  • Maintain the investment for a minimum period of five years.
  • Investment funds must come from abroad.
  • Entry into Portugal with a valid Schengen visa.
  • Absence of references in the Portuguese Immigration Service and in the services of the Schengen area.
  • Absence of a relevant criminal conviction.
  • Minimum stay in Portugal of seven days, during the first year and fourteen days in each subsequent period of two years.

 

The Golden Visa Portugal is one of the fastest plans to obtain residence for foreign investors, by acquiring assets within Portuguese territory.

At Orience International we will help you throughout the process to get your Golden Visa Portugal, contact us.

 

The latest figures (from March 15 to April 15) on the demand for real estate in Spain have recently been published. Despite the fact that domestic demand has decreased, international demand during this period has increased to around 15% of current demand.

Curiously, where the international demand during the first month of alarm has increased the most has been La Rioja community, ahead of other areas with a very important role within real estate, such as the Balearic Islands, the Canary Islands, Catalonia or Alicante.

In any case, these territories are those where international investment has always had more weight and international investors continue to be interested in properties near the coast, such as the Canary Islands, especially Tenerife or the Balearic Islands.

If we look at nationalities, the country from which the majority of investors come is the United Kingdom, followed by the US, France and Germany.

 

Why should you invest in Spain?

Spain is one of the most attractive countries to invest in, as it presents an affordable Golden Visa program with various investment options. With an excellent quality of life, the country is among the first in Europe for foreigners living in the country. With a modern healthcare system, it is in a privileged geographical position for international business.

Do you want to invest in Spain? At Orience International we accompany you throughout the process so that your investment is a success.

Source: Idealista

Last February, the Portuguese government announced some changes in the Golden Visa Portugal, restricting the Golden Visa in the cities of Porto and Lisbon and their respective metropolitan areas. Algarve was another region affected too.

According to the government, changes in law will come into effect from 2021 and aims to promote investment in other areas with low population and poorest, as well as encourage urban requalification in cultural heritage or activities of high environmental and social value.

However, and due to the coronavirus, the government has suspended the changes announced in February 2020. According to Dinheiro Vivo, Ministry of Foreign Affairs “the changes are not a priority at the moment”.

However, and due to the coronavirus, the government has put the changes announced in February on hold. A person in the Ministry of Foreign Affairs has told Dinheiro Vivo that  “the changes are not a priority at the moment” .

On the other hand, Luís Líma, president of the national association of real estate professionals (APEMIP) told that “nobody will emerge from this crisis unscathed and the country would really appreciate the millions of euros that it would receive” if the program remains open to people to buying in Lisbon and Porto.

An opportunity to invest, Golden Visa Portugal

In summary, all the international investors who want to invest in Portugal and especially in the most important cities, like Lisbon and Porto, they can do it. With an excellent quality of life, Portugal is a gateway to Europe for international investors. With a pleasant climate, good education, health and safety systems and competitive prices, it is one of the best European countries to start a new life.

 

Get your Golden Visa now!

 

A few weeks ago, we talked about the importance and advantages of having a plan B or an alternative plan, especially during the crisis situations, like the one we have now with de coronavirus. However, having a plan B, it is a very interesting option not only for crisis.

When we talk about a plan B, we refer to the fact of having an alternative residence permit or citizenship in another country. Imagine for example a chinese citizen with a second Spanish passport or a filipin citizen with the residence in Greece.

The main advantages of a plan B are that you have more freedom to choose in crisis situations. Moreover, it gives you economic, political and social independence from your country of origin and it also allows you to obtain the program for your family members.

In the video below, Nathan, from de EUA, explains us the benefits of moving to Spain and how here he can benefit from a public healthcare in comparison to the american healthcare which is very expensive.

 

 

We are specialists in obtaining the GoldenVisa. Contact us!

Since last week, and after 15 days of total lockdown, good news have come from the construction and real estate sectors. Most of the works by construction companies have been resumed, and it is estimated that there are 350 developments underway to build some 30,000 homes, which will be delivered in the coming months and years.

This figure represents 100% of the total residential development and from the sector they have explained that, thanks to the professionalism of the construction companies, the break in these two weeks can be recovered in the coming days.

Likewise, and to return to work, Seopan, the employers of the large promoters, explained that it is necessary for workers to follow the measures taken by the health authorities. As far as possible, the use of masks is recommended and that the safety distance is maintained. Also, it is recommended not to share the material or meet with coworkers during breaks.

It is important to remember that the rehabilitation and reform of buildings with residents has been stopped until further notice.

If you want more information about the impact on the real estate sector, you can read this interview to Oriol Molas.

How is the coronavirus crisis affecting the real estate market in Spain? How was the sector before the crisis? What will happen when it is all over? Can we be optimistic?

In the next article, Joaquim Zamacois, entrepreneur and adventurer, partner of the Summit Capital fund and founder of the first cooperative real estate agency in Spain, talks about this issues:

During the first fortnight of March, some areas of China that have been reopened after the worst of the coronavirus crisis have increased their real estate activity by 8.5%* compared to the same fortnight in 2019. During the stop, activity had shrunk by 99.5%, as in Barcelona today.

Is there room to be optimistic in this week of infernal data and worse family dramas? Obviously, we entrepreneurs have the obligation to keep on, otherwise we would jump out the window as Lorca told in his Poet in New York about the free flight trend among bankers during the crack of ’29. The real estate market in Barcelona reached saturation point in October 2017, coinciding with 1-O. From then until three weeks ago, intramural prices had seen a sustained decline – to 20% in some areas of the Eixample – due, paradoxically, to the city’s attractiveness to foreign investors: it was these who brought the market to a boil from 2013, when prices were at low, and pushed promoters, owners, neighbours and intermediaries of all kind into a price escalation that had nothing to do with the country’s economic growth. As always happens to us, we thought we were London or Paris. So at the end of 2017, with prices at historic highs, the smartest ones withdrew, the rational buyers stopped preferring Barcelona – from 12,000 euros /m one can take refuge in some side street of the Marais-, and we are left with a wonderful stock of luxury promotions and an increasingly local demand and with less purchasing power.

Since then, the residential market has been deflating enough to fuel local demand. Although it still doesn’t pay the prices of “luxury”, the second hand does work. We already know that owners do not lower prices at the first exchange: in Spain it takes years, storms and pandemics for a seller to understand that he has to lower the price if he wants to sell, because culturally we continue to regard the brick as a sentimental asset, rather than a pure and hard asset. It costs, but we get it and the prices are adjusting. To this market situation, we must add the decree of 30% that approved by the City Council in mid-2018 and that requires large renovations and new constructions to cede 30% of its roof to social housing. This law, instead of increasing the social living ceiling, leaded to the disinterest of the capital by residential construction, and a very healthy side effect, which was the decline in the prices of vertical properties for sale. No fund, no matter how suicidal this is – what there are, damn managers’ fees – will buy at a price of 100 receiving 70, and less in a bear market.

And with this comes confinement and the market ceases to exist. There’s no market anymore. Zero new transactions, which are the ones that count. There are no visitors, no demand, no need in at least a month and a half, and the whole sector wonders what will happen.

If you look at China, the rebound was perfect, and the contained demand has skyrocketed when they open the door. And the Chinese buy all over the world – blessed Golden Visa, may the Lord keep your health – so that the dead man is not completely cold. There’s a pulse. In addition, the ghost of John Maynard Keynes has appeared to each of the Heads of State of the Union – and America – and they are going to irrigate the markets with liquidity. Hundreds of billions in Europe, trillions in America – election year and Trump wants to keep going. We don’t know if families will see a euro in the coming weeks, but liquidity will hit the markets. There’ll be money. And the money must be moved because the interest rate is 0%. Three factors converge to consider that we are not so bad: prices in Barcelona have been falling for almost three years and are at attractive levels at European level, states will inject a massive amount of liquidity to keep the economy alive, and the expected rebound effect when this drama is over. I think a good time to buy if you’re from Barcelona will be the day you go out without being fined. There are other ways to look at it, but I prefer this one. It helps to spend in a better way these days of cocooning.

As we explain in this post, the Spanish government is carrying out a great task in the health field during the Covid-19 crisis. Proof of this is the congratulations that the regional director of the WHO for Europe, Hans Kluge, has sent to Spain through his Twitter account. Kluge has been impressed by the work of all health staff, fighting on the front line to alleviate the virus. Likewise, he has had words of congratulation for the Spanish government, applauding the health management and the determination in the measures taken.

Some of the measures that the Spanish government has adopted have been the empowerment of large spaces such as pavilions in provisional hospitals to care for coronavirus patients. Likewise, many private clinics have ceded their spaces to also attend patients, as well as numerous hotels, which have also opened their doors for this cause.

In parallel, the Ministry of Health has worked to expand the number of ICU beds across the country. Under normal conditions, for example, the Community of Madrid has 641 beds, which have now been doubled to 1,461 to alleviate the pandemic. Another of the most affected communities, Catalonia has gone from 652 beds, normally to 1,391.

In any case, and according to the Spanish authorities, the measures of lockdown and social distancing applied during the state of alarm are gradually being noticed. This week objective is to consolidate the slowdown of the pandemic, that is, the number of infected and victims.

 

The situation that is being experienced in many countries is delicate, for this reason at Orience International we are by your side, working to offer you a quality and efficient service. All our teams in Spain, Greece and Portugal are active to accompany you in all phases of your project and to solve all your doubts through personalized attention.

Below what the last hour is about Greece and Portugal:

According to the latest news, the Greek government has decided to extend the lockdown for three more weeks until the end of April, specifically on the 27th, with the aim of slowing down the spread of the virus and protecting the population, as most European countries are doing .

At the moment, the Hellenic country has a total of 1,673 positives and a total of 68 deaths due to the coronavirus. Since the beginning of the lockdown, the Greek authorities have prohibited citizens from going out and all economic activity has stopped.

Check here the measures that have been taken in Greece.

Portugal is another of the affected countries. With a total of 11,300 infected and 275 dead, according to the latest official figures, the Portuguese citizens are also confined since the end of March. As reported by the country’s authorities, there are still no dates for the return to normality of companies and educational centers such as schools and universities, although President Antonio Costa has advanced that the isolation measures could be extended up to three months.