Canada is actively looking for entrepreneurs, innovators, and creatives to live and work in Canada, people who can start, manage or buy a business. This is possible with the Canadian Investment Visa.

Canada, with its rich natural resources, skilled labor force and stable government, is one of the preferred countries to start a business.  Foreign investments assure the continued success of its economy through diversity and development.

Start -up visa

Canada’s Start-Up Visa is the first of its kind in the world, linking immigrant entrepreneurs with experienced private sector organizations that have expertise in working with start-ups.  Successful applicants to this program can immigrate to Canada as permanent residents with no conditions attached to the success of their business, with a Canadian investment visa.

Star-up requirements

  1. Business Requirements

A designated organization must commit to your business:

All applicants (up to 5 people can apply as owners) must each hold at least 10% of the voting rights attached to all outstanding shares of the business; and together with the designated organization, they must hold more than 50% of the voting rights attached to all outstanding shares of the business.

Once you receive permanent residence, you must make sure that:

You play an active role in the ongoing management of your business while living in Canada; the essential operations of the business must partly take place in Canada; and your business is incorporated in Canada.

  1. Letter of Support

You must get a letter of support from a designated organization that proves they are willing to invest in and support your start-up. These organizations include:

  • Venture Capital Firms ($200,000 investment)
  • Angel Investor Groups ($75,000 investment)
  • Business Incubators
  1. Language Requirements

You must score a minimum of Canadian Language Benchmark level 5 in speaking, reading, listening, and writing in either English or French.

  1. Settlement Money

The Canadian government does not give financial support to an investor. You will have to be able to prove that you have enough money to settle yourself and your family in Canada.

Reasons why Canada is the preferred country to start a business

  1. Canada has been ranked by Forbes Magazine as the best country in the G-20 with which to do business as it has the best fiscal prospects. Among the G-7 countries, it has the strongest fiscal position.
  2. Canada offers a low tax environment. Its overall tax rate on new business investment is significantly lower than that of other G7 countries.
  3. Canada has an excellent environment for research and innovation that includes world-class infrastructure, scientific talent and innovation incentives.
  4. Canadians enjoy the highest standards of living among the G-20 countries.
  5. Canada boasts of a highly educated, flexible and multicultural work force.

Provincial nominee program

Every province and territory in Canada can invite applicants to live and work in their area through the provincial nominee program, inside the Canadian investment visa.  Each province and territory have their own investment visa programs, each with their own requirements that cater to their specific situation.  These provinces and territories encourage businesses in almost every sector particularly in agriculture, fisheries, manufacturing, ecotourism and distribution.

 

The Golden Visa or Residency by Investment Program is a very successful program offered in 14 countries around the world and continues to grow as more countries participate.  One of the ways to get this visa is through buy real estate. The program has generated an average US$20 billion a year in investments for 14 countries all over the world focused mostly on real estate.  It has transformed the upper end of the real estate markets including areas that were once neglected and contained historical buildings.  It is also re-shaping the finances of some of the smaller countries.

Such is the program’s success that many real estate developers include the residency programs as part of their plans.  Capital growth, an earned income from rental of about 3% per annum, guarantees that the rent will be paid, and high-end real estate are some of the push factors for this kind of investment.

Who invest in the citizenship by investment program

Thirty six percent of people with more than US$30 million in net assets have second passports up from 34% a year earlier with buy real estate.  The trend is also growing among the less wealthy.  Majority of investors are from China, followed by Russia, the French who wish to avoid very high income taxes, Britons who would still like to enjoy the benefits of an EU passport and Americans who are looking to pay less taxes and looking for personal security.

Other wealthy investors in the second citizenship by investment program are from Lebanon, the Middle East, mainly the United Arab Emirates, Saudi Arabia and Qatar, India and South Africa.

Why real estate

Majority of wealthy people looking for a second citizenship prefer investing in real estate.  There is a great demand for property investments from those seeking a second citizenship as it can provide a rental income of at least 3% per annum.

Portugal Golden Visa received the third highest income from residence by investment program in 2018 at €839 million.  Portugal, Spain, Greece, Malta and Latvia in Europe offer temporary or permanent residency in exchange for real estate investments in private homes or commercial buildings.

How to buy real estate

Each country will have their own specific requirements.  However, here are some considerations for buy real estate:

  1. Choose the real estate property depending on one’s budget and needs. A real estate consultant will be provided to assist you throughout the process.
  2. Decide whether the property is for a second home or for investment.
  3. Deposit downpayment to reserve property.
  4. Pay the necessary taxes.
  5. Pay the management fees, notarization and registration fees.
  6. Prepare the legal and consultation fees.
  7. Prepare for miscellaneous fees like for required documentation and visa application.

Best countries to purchase real estate

Portugal

Portugal’s real estate market is booming.  In 2020 saw a rise in the volume of real estate purchases despite the ongoing Covid-19 pandemic ensuring a successful real estate market in the future.

  1. Purchasing a in Portugal and keeping it for five years can make you eligible for Portuguese citizenship.
  2. Properties are varied and located in different parts of Portugal.
  3. The cost of living in Portugal is one of the lowest in Europe.
  4. Property in Portugal has high rental yields.
  5. Portugal has a high level of political stability.
  6. Portugal offers a very high quality of life.
  7. Tax incentives are considerable.
  8. Public infrastructures are extensive and accessible
  9. Beautiful weather, unspoiled nature and extensive beaches.

Spain

Spain’s real estate market continues to thrive with a 3% growth in 2019 despite the Covid-19 pandemic.

  1. Real estate prices in Spain are low compared to other European countries but rental yields are on the high side.
  2. Spain is experiencing an economic growth along with the rest of Europe.
  3. Spain has 320 days of sun per year.
  4. Spain has the second longest coastal line in south Europe.
  5. Spain has a very stable political environment.
  6. Living standards, health care and work life balance have been ranked as one of the best in the world.
  7. The cost of living in Spain is much lower than European averages.
  8. Spain can boast of modern and efficient infrastructure.
  9. Spain is the country most visited by tourists in Europe that can translate to profitable rentals.
  10. Buyers of real estate can count on low construction costs should they need to build or renovate.

Greece

Greece is undoubtedly one of the more beautiful countries in the world.  It offers more than favorable conditions for investments in real estate and is poised to be the hottest real estate market in the EU.

  1. Greece offers high quality properties for prices lower than most in Europe.
  2. The Greek economy is expected to continue to stabilize and grow.
  3. The Greek government is focused on developing the tourist real estate market.
  4. Mortgage rates are low.
  5. Greece enjoys about 300 days of sunshine throughout the year.
  6. Greece has a very strategic geographical location being the gateway to Europe.
  7. Greece is a favorite destination of tourists from all over the world.

Whether it is to expand business opportunities, or as a plan B for your family, many countries offer the possibility to obtain a second citizenship by investment, along with all the benefits that come with it through an investment fund. In some cases, a one-time contribution of $100,000 can grant the investor a lifetime citizenship and the opportunity to travel to more than 100 countries without the need of any additional visa.

Here are the countries that offer the best deals for citizenship by investment programs in terms of affordability, time process and tax benefits.

Vanuatu citizenship

Investors that apply for the Vanuatuan passport can get it through an investment of $130,000 and after a 45 to 60-day process, the fastest and simplest citizenship programme among all. There are two programs to choose from, the DSP (the Development Support Program) which issues honorary citizenship, and the VCP (Vanuatu Contribution Program), for ordinary citizenship. Both programs are through the same amount of funds and its increment relies upon the number of dependents (family members) that are included in the application.

The Vanuatu citizenship by investment allows its holders to have short-stay visits without the need of additional visas to a total of 129 countries, including countries in Europe and the USA. Moreover, another advantage of living in the Pacific country is that the country has zero taxation for both residents and non-residents.

Malta Individual Investor Programme 

The Maltese citizenship is one of the most popular programs for it allows non-residents to become citizens of a country with one of the most stable economies in the EU.

These are the different investment options for this citizenship by investment:

  • Individual investor – contribution of EUR 600,000, citizenship will be released after 3 years
  • Individual investor – contribution of EUR 750,000, citizenship will be released after a year

An additional EUR 25,000 for every dependent family member included in the application.

Once you have acquired this citizenship by investment, you will be eligible to live, work and study anywhere in the EU and enjoy visa-free travel to 180 countries, including the USA.

Caribbean citizenship: Antigua and Barbuda and Dominica

The tempting weather and fine scenery of the Caribbean makes these citizenship by investment perfect for those who want to live in a never-ending summer with a great potential for businesses to succeed in the long-term because of the thousands of tourists that visit the island every year.

Antigua and Barbados offers these investment options:

  • Real estate investment of $400,000 for not less than five years
  • Contribution of $100,000 to the Antigua National Development Fund ($125,000 if your family consists of five or more members)
  • Establish a business worth $1.5 million or $5 million (for more two or more investors)

This citizenship by investment will allow you to travel to more than 130 countries.

On the other hand, the small island of Dominica offers a more affordable option of either making a one-time contribution of $100,000, or an investment in a government approved property of a minimum of $200,000 for three years.

Afterwards, lifetime citizenship will be issued and you will be able to travel to over 118 countries with your Caribbean passport. Moreover, once you are a holder of Caribbean citizenship, you will not be subject to capital gains tax.

Turkish Citizenship by Investment

The recent updates allow individuals to acquire citizenship by investment without a minimum residence requirement and the minimum investment funds have been reduced. Family members that apply for citizenship as dependent applicants are not required for a separate investment. The process usually takes 2-3 months to be completed. Once completed, you can live and work in Turkey, and travel visa-free to many countries.

 

There are some countries around the world that offer citizenship by investment.  This means that citizenship can be acquired by investing in the local economy by purchasing real estate, investing in securities, setting up a business, or creating jobs.

What are the advantages of a second citizenship?

  1. Access to 120 to 180 countries around the world including the EU and USA without visas.
  2. Register a company and do business in another country.
  3. Acquire the same rights as citizens.
  4. Quickly move to another country in case of an unforeseen event.

What are the countries that offer citizenship by investment?

Caribbean

European Union

Portugal, Malta, Spain, Greece and Latvia.

Europe

Montenegro.

Middle East

Turkey and Dubai.

South America

Brazil.

Oceania

Vanuatu.

What are the conditions that one must consider when choosing a country that offers citizenship by investment?

All countries have different conditions for attaining a second citizenship.  Listed below are conditions that need to be considered:

  • Amounts and types of investment
  • Requirements for investor
  • Registration costs
  • Investment terms
  • Process of obtaining citizenship
  • Timeline
  • Freedom of travel, work and study
  • Availability to the whole family
  • Access to education and healthcare
  • Tax benefits
  • Quality of life

Which of these countries offer the best options?

Country Time to citizenship Minimum investment
Portugal 5 years €250,000 minimum investment
Malta 12 months or 36 months €690,000 minimum investment
Antigua and Barbuda 5 months €100,000 minimum investment
Grenada 2 months €150,000 minimum investment
Dominica 4 months €100,000 minimum investment
St. Kitts and Nevis 52 months €150,000 minimum investment
Portugal 5 years €250,000 minimum investment
St. Lucia 4 months €100,000 minimum investment

PORTUGAL

Portugal lies on the Atlantic coast of the Iberian Peninsula in Southwestern Europe and hugs 832 kilometers stretch of the Atlantic coastline.   It enjoys sunny weather for most of the year and boasts of excellent fresh produce and a delectable cuisine of mostly seafood like sardines and cod fish. It is an excellent option for expat families as they can avail of quality education, easy access to healthcare and an overall high quality of life.

A Portuguese passport allows the holder free movement meaning that one can live, work, and study in Portugal and anywhere else within the European Union, European Economic Area, Switzerland and the United Kingdom and can travel visa-free to 186 countries.

MALTA

Malta is an island located in the central Mediterranean Sea. It is a small but strategically important group of islands that has throughout its history played an important role for the domination of the Mediterranean Sea.   It is a famous tourist spot but also a financial haven that has attracted numerous investors and firms from all over the world. Praised for its excellent healthcare system, safety, cost of living, and economic opportunities, Malta has become one of the top destinations for investors seeking to acquire a second passport.

The Malta Citizenship by Investment Program grants investors and their families a Malta passport in one year’s time. Thanks to this scheme, Malta is now one of the easiest European countries to get citizenship. Considered one of the strongest passports to have, the Malta passport gives you Malta citizenship for life, the right to live, work and study in Europe, and visa-free access to over 160 destinations including the US, Canada, and the UK.

ANTIGUA AND BARBUDA

Antigua and Barbuda is an independent Commonwealth country located where the Atlantic Ocean and Caribbean Sea meet.  It is known for its reef-lined beaches, forests and resorts.   It offers a very laid-back lifestyle that is perfect for retirees. Antigua and Barbuda grants investors the unique opportunity to become citizens via its Antigua and Barbuda Citizenship by Investment Program. Due to an efficient and rapid process, an Antigua and Barbuda passport can be available in five months time in exchange for a minimum investment of $100,000.

GRENADA

Grenada, also called the ‘Spice Isle’ because of its numerous nutmeg plantations, it is a peaceful Caribbean island offering an accessible Grenada Citizenship by Investment Program. Considered one of the fastest ways to obtain a second passport, the program grants investors a Grenada passport in two months in exchange for an economic investment of at least $100,000.

DOMINICA

Dominica is a mountainous Caribbean island nation with natural hot springs and tropical rainforests. Its Dominica Citizenship by Investment Program, allows investors to get a Dominica passport in four months for just $100,000.

ST. KITTS AND NEVIS

St Kitts and Nevis is a dual island nation situated between the Atlantic Ocean and Caribbean Sea that offers a luxury lifestyle and tax benefits. The St Kitts and Nevis Citizenship by Investment Program offers individuals and their families the opportunity to get a St Kitts and Nevis passport in exchange for an investment of at least $150,000 that has no stay requirements and a fast-track immigration process of only two months.

ST. LUCIA

St Lucia is an Eastern Caribbean island that offers one of the cheapest ways to get a second passport via its St Lucia Citizenship by Investment Program. For a minimum investment of $100,000, investors and their families can get a St Lucia passport in four months. Investors will enjoy an idyllic lifestyle in one of the easiest countries to get citizenship along with tax benefits and visa-free travel to more than 130 countries worldwide.

 

The peaceful and beautiful state of Vanuatu in Oceania offers the fastest citizenship through investment. The process only takes between 45 to 60 days, and with an investment of $130,000, which is a great deal for those who are aiming to acquire the Vanuatuan citizenship. 

The nation is located in the south-western Pacific ocean, with Fiji on the west and Australia on the east of its islands. Vanuatu is part of the Commonwealth of Nations, which explains the strong economic and cultural ties that the state has with other former British colonies. Moreover, the country has a close relation with its neighbouring countries, New Zealand and Australia. Vanuatu is home to a diverse set of cultures — many residents are expats that have chosen Vanuatu as their new home for the great quality of life, the amazing weather, and the beautiful beaches; no wonder it is ranked as the fourth happiest country in the world.

Types of programs to obtain citizenship

In order to obtain the Vanuatuan citizenship, there are two types of programs to choose from:

  • The development Support Program (DSP) – honorary citizenship
  • Vanuatu Contribution Program (VCP) – ordinary citizenship

These are the official programs by the Government of Vanuatu, whereas there are four types of application with different amounts of investment depending on the applicants involved.

  • Single application – $130,000
  • Married couple – $150,000
  • Couple with an only child – $165,000
  • Couple with more than one child – $180,000

Additional dependents will add $10,000 per person. The programs do not require residence requirements and can be processed as fast as 3 weeks. The primary applicant and the dependents must pay the indicated fare in order to obtain the Vanuatuan passport and enjoy the advantages that come with it.

The Vanuatu citizenship by investment program is the fastest and easiest for foreigners to obtain a second passport. Immediate family members of the investor can become citizens of Vanuatu as well. One of the major advantages of becoming a citizen of the country is that the Vanuatuan passport enables its holders to have short-stay visits without the need of additional visas to a total of 129 countries, including countries in Europe and the USA. This is perfect for entrepreneurs that are constantly moving for business, and also for those who enjoy exploring different countries in search for the best cuisine and marvelous landscapes.

Benefits of the Vanuatu citizenship

The country of Vanuatu not only has the simplest and most affordable citizenship by investment, but it has a favorable taxation system as well. The tax rates are equal for residents and non-residents; there is no personal tax nor foreign income tax. For instance, international companies are only required to pay an annual fee of $300 and are exempted from paying taxes for 20 years.

Foreign entrepreneurs would see the Vanuatu citizenship as an opportunity for a fast path to acquire a second passport that enables the visit to many countries in the world. Moreover, the applicants are not required to reside in the country during or after the application process and even when they acquire their citizenship.

On the other hand, there are other programs offered by the government for foreign investors that seek to obtain a residence permit in the country.

The Vanuatu Permanent Residency Program, also known as the investor visa, offers permanent residency to foreigners that buy a property worth $100,000, or for retirees who receive at least $2,500 monthly. Additionally, the Land Ownership Visa is for those who want to live or are planning to lease real estate in the country. Nevertheless, the applicants for these two residency permits can obtain citizenship only by naturalization (after living in Vanuatu for at least 10 years), unlike with the DSP and VCP, whereas citizenship is acquired after no more than 2 months.

 

India is currently working on creating a partnership with EU countries to expand their business opportunities, as well as to strengthen the economy through foreign relations. The Joint Secretary of the Ministry of External Affairs in India, Sandeep Chakrovorty, refers to the EU as their largest trading partner and their second-largest destination for Indian Exports, enhancing the importance of the connectivity partnership through the European countries and India that will connect people to people, trade, business, and technology. The government of India is looking at their partnership with the EU with optimism, encouraging Indian entrepreneurs to venture for business opportunities towards the Northern Hemisphere by foreign investment.

Regardless of the challenges presented by the pandemic, the nations have continued to grow their union which is expected to boost over the years.

  • For instance, Belgium is one of the top EU trading partners for India, and plans for business opportunities between the two countries that include infrastructures and real estate are being prepared.
  • Poland is another country that relies on this partnership. The European country identifies India as an important pillar for economic policy and global dimension due to the trading in areas like fintech, cyber cities, drones, green technologies, Medtech and agritech, innovation, and research.

Moreover, the presence of Indian entrepreneurial people around the globe is inevitable, especially for the country’s involvement in Pharmaceuticals and its importance presently during this pandemic.

The partnership that India has with EU countries has led a great number of Indian entrepreneurs to obtain visas by foreign investment that will allow them to reside in an European country and travel freely within the continent.

Reasons for applying for the visa by foreign investment

India has the highest number of migrants in the world, and the numbers are only increasing through the years. There are 15.6 million people that were born in India and have migrated to other countries, which includes the wealthy citizens of India that decide to move to a country that has positive possibilities for successful business. Moving to a different country is a great way to improve their family’s way of living, as well as to ensure a plan B in a more developed country like the UAE, Germany or the UK.

More Indians are migrating to European countries through residence permits that grants them the opportunity to live in the country along with their family members, and benefit from the different advantages that comes with the residence, such as excellent health services and outstanding educational system.

Options to obtain the Golden Visa

The best way for Indian entrepreneurs to move to Europe is through a Golden Visa. The program provides a quick path to Indian investors that want to invest in real estate in exchange for a residency permit that will allow them to live, work and study in the country along with their families.

The golden visa is the chosen alternative for wealthy Indians that want to legally stay in a foreign country by foreign investment, since India does not allow dual citizenships. For instance, the UK allows Indian investors and their family members to apply for a Tier 1 Investor Visa, a residence permit granted to individuals who invest at least  £2 million in the country.

The Golden Visa Germany is another attractive investment option for Indians. Indian entrepreneurs that apply for this visa will have the chance to invest in a business with guaranteed success, for Germany is the largest and strongest economy in the EU. Regardless of the country the investors apply to, they will benefit from the different advantages of residing in a European country, as well as the possibility of visiting other countries within the Schengen area without the need of an additional visa.

Our team in Orience International will help you pick a path according to your personal and familial circumstances.

 

The investment visa in Portugal, also known as Golden Visa, offers foreign entrepreneurs the opportunity to acquire a residency permit through the investment of a minimum amount on a Portugal real estate, as well as the chance to benefit from the advantages of living in Portugal, where there is the perfect Mediterranean weather, and the cost of living is low. With this investment visa in Portugal, the non-European investors and their families have the right to live, work and study in the country with tax advantages for their purchased property, as well as the chance to have a better quality of life.

The investment Visa

The Golden Visa Portugal was approved in 2012 and has benefited Portugal’s economy. An estimated amount of six billion euros have been invested in the country, which greatly emphasizes the importance of foreign entrepreneurs that invest in Portugal. The affordable prices in real estate makes Portugal the target location for investors to establish a business that has a great potential.

In fact, the sale of properties for investment increased by 23% in May of 2020, during the first months of confinement due to the pandemic, surpassing the €146 million.

Benefits of the Golden Visa Portugal

The investment visa in Portugal gives foreign entrepreneurs the chance to live in one of the top safest countries in the world that offers access to 2 of the 10 best European universities, ensuring the best quality in health services and in international education. A great quality of life can be achieved without giving up on certain luxuries, such as dining in high-rated restaurants for an affordable price compared to other European countries.

Additionally, Portugal is home to a large community of international entrepreneurs from around the globe, turning the capital of the country, Lisbon, into the center of a huge digital and tech startup melting pot for entrepreneurs to share their knowledge and develop their businesses.

Who can request it

The investment visa in Portugal is available for all non-European real estate investors and their respective family members that invest a minimum of €280,000 in a property. Once the investment visa is granted, the permit holders will be eligible to reside in the country, travel freely within the Schengen area without the need of an additional visa, and after renewing the residence permit two times for every two years, by the end of year 5, they will have the opportunity to apply for the 7th most valuable passport in the world and obtain the Portuguese citizenship.

New updates of the Investment Visa in Portugal

However, the new updates for the investment visa in Portugal will encourage foreign investors to target other areas of the country with low population, rather than in the more popular cities, such as Lisbon, Porto, Braga and the Algarve. The update in the requirements for the Golden Visa Portugal, which will be effective in January 2022, will encourage investors to target the Autonomous Regions of the Azores and Madeira, among others, which will contribute to a more balanced environmental and social status of the country.

The best options to avail for an investment visa in Portugal are:

  • Investment fund of €280,000 – the property to be purchased must be a rehabilitation project (at least thirty years old and undergoing renovation) located in a low population density area, such as in the Autonomous Regions of the Azores and Madeira.
  • Investment fund of €350,000 – the acquired property must be at least 30 years old and in need of renovation. The investor can purchase the property located in urban areas, such as in Lisbon or Porto.
  • Investment fund of €500,000 or more – the investor can purchase a new, restored or old property in their preferred area of Portugal, perfect for foreigners that are looking for a second home or a retirement destination.

Nevertheless, the new update in the program will only allow the purchase of real estate in the interior territories or in the Autonomous Regions of Azores and Madeira until January 2022 for both the €350,000 and the €500,000 investment options.

Our team in Orience International will help you decide on the best investment option for you and your family, and will accompany you throughout the process.

 

If you are considering buying a property in Spain, this is probably one of the best times to do so and obtain a Golden Visa by investment in real estate. After a few years of economic recovery, the effects of the COVID are starting to be felt in the real estate market. As a result, they are probably at their lowest value or even rebounding slightly, so a good portion of the properties that are on the market can be bought for a fraction of their real value.

For Indian investors, the purchase of a property in Spain in which they invest an amount of at least 500,000 euros will allow them to apply for the Golden Visa Spain or special residence permit for investors.

However, before buying a real estate property in Spain we advise you to spend some time researching and informing yourself on what to do and what to avoid in order to stay away from the problems and difficulties that others have experienced in the past. Here is some useful information and advice to help you plan your purchase for the Golden Visa by investment in real estate.

 1.- Choosing the property, paying the deposit and signing the reservation document

Our first advice is to put yourself in the hands of a reputable real estate agent who will help you find and choose the perfect property that meets your needs and expectations. The intervention of an agent will usually save you time, money and surprises. Their fees are always paid by the sellers, so there is no cost to your pocket. A solvent agent with a long experience in the area knows the properties perfectly well, the locations that may interest you most according to your expectations, the best locations within each complex or development, the nearby facilities, the distance to health or leisure centers or the security of the area, and it is a fact that, besides the price, it is important to take into account all these factors when choosing a property. In Orience, we usually work with Colibree, a real estate agency implemented throughout the territory and consisting of highly professional agents.

Once you have chosen the property, it is advisable to pay a deposit and signing a reservation document. The deposit is usually a small amount (between 3,000 and 6,000 euros) that is held by the real estate agency or the seller’s lawyer and serves to secure the purchase and remove the property from the market, as well as to freeze the price. It is important to emphasize that, should the buyer decide not to complete the transaction, he/she will not be able to recover the deposit.

 2.- Appoint a local lawyer to advise you on the purchase

Your local lawyer has the tools, contacts, knowledge and experience to verify the legal capacity of sellers, developers and other intermediaries; to draft or review every document to be signed that may compromise your interests; to ensure that all legal requirements are met; and to make sure that the property is free of debts, liens or encumbrances.

A local lawyer not only knows the applicable legislation, but also the area and the potential problems or advantages of one or the other option, so his or her knowledge will be very useful to you.

At Orience we have a team of lawyers with extensive experience in the Golden Visa by investment in real estate sector. In addition, we can carry out most of the procedures by power of attorney, which will allow you to make your purchase without the need to travel constantly to Spain.

 3.- Open a bank account

You will need a bank account in Spain to pay for the property and all the expenses associated with it, such as the community fees and the bills for the utilities of the property (water, electricity, etc.). You can use any bank in Spain, but it is advisable to open the account in a bank that has a branch located near your property.

Before opening the account it is advisable to prepare all the personal documentation, as you will have to go through a strict compliance process

 4.- Obtaining the NIE

The Foreigners’ Identification Number (known by its Spanish acronym NIE) is a unique, personal and invariable number used to identify foreign taxpayers. All foreigners with economic, professional or social interests in Spain are obliged to apply for the NIE before the competent body of the Ministry of the Interior. You can obtain the NIE at the Spanish Consulate or Embassy in your country of residence or at the Police Station of the Spanish city where you live, work or intend to buy a property. The problem of doing it in person is usually the time needed, the queues to be done, etc. Orience offers its clients a fast and hassle-free NIE service.

 5.- Study of the property and signing the purchase contract

Once the deposit has been paid and the reservation document has been signed, the owner or his representative must provide the purchaser with the documentation of the property that will allow him to study the viability of the operation from a legal, urbanistic and fiscal point of view. Normally it is somewhat complicated for a private individual who does not have basic knowledge of the Spanish legal system to carry out these checks personally, so it is always advisable that they place themselves in the hands of a professional. At Orience we carry out exhaustive checks in property registries, town halls, communities of owners, supply companies and other organizations.

The signing of the private purchase contract takes place between two weeks and one month after the delivery of the deposit and is usually accompanied by the payment of 10% of the purchase price. There are different types of purchase contracts, but the most commonly used is the Deposit Contract, which provides that if the buyer withdraws from the purchase, he/she will lose the amounts paid. If, on the other hand, it is the seller who withdraws, he must return double the amount received.

 6.- Signing of the deed of sale and delivery of possession

The purchase process ends with the signing of the public deed of sale by the buyer and seller. At that moment the seller grants title to the property to the buyer and the buyer delivers the rest of the agreed price. The signing of the deed of sale is formalized before a notary public. The notary is a public servant and, therefore, independent of the parties, who gives public faith that these have agreed the transaction and that they have done it according to the law.

Prior to the signing of the deed you will have to transfer to your Spanish bank account the funds to cover the price, taxes and expenses that will be incurred. Due to the investment control policies and the obligation to certify the payment methods and the origin of the funds, it is convenient to prepare the transaction in advance.

As soon as the deed is signed at the notary’s office, your title deed is already reflected in the Land Registry as a result of the notary’s own telematic presentation. However, further processing is required, which consists of withdrawing the original document from the notary’s office, settling and paying the corresponding taxes and, finally, presenting the deeds at the Land Registry for full registration.

If the property is not registered in your name in the Land Registry, you will be able to own it privately, but you will not enjoy the guarantee that the registration in the Land Registry offers you against third parties. The registration process is usually completed within one month.

 7.- Apply for the Golden Visa

Once you have completed all the procedures detailed here, you will be able to apply for the Golden Visa by investment in real estate. The investors coming from India, must carry out this process in the consulate of their city of residence. Orience guides its clients through the entire process and, if necessary, contacts the corresponding consular office.

 

Barcelona, the capital of the autonomous community of Catalonia, offers the best combination of nature and cosmopolitan lifestyle, allowing its residents that buy real estate in Barcelona, to enjoy warm summers in La Mar Bella, hiking the Montjuic and visiting its Castle, and experience the city life filled with cultures and traditions, which make the city unique.

Barcelona has ranked 8th in The World’s Best Cities 2021 report by the International consulting firm Resonance; no wonder the city is home for many expats, making this community account for 20% of the city’s population. Moreover, numerous international entrepreneurs choose Barcelona as the location of their business for its proximity to other neighboring countries in Europe and Africa, as well as the large and varied public that includes locals and non-Spanish citizens which ensures a successful business.

Why choose Barcelona to start your new life

Another reason Barcelona is part of the top 10 best cities in the world is for the perfect balance between work and personal life. There are many places in the neighborhoods of Barcelona, such as libraries, coffee shops or public areas in parks or universities, that invite people outside, with the privilege to work in a quiet and peaceful place. This has a positive effect on the people that buy real estate in Barcelona, for the environment and essence that the city releases makes its residents enjoy living in the city.

In addition, the city has not only some of the best neighborhoods, but it also has the hidden gem of El Parc de Collserola, that will give you the opportunity to have an unforgettable hike. The 8,000 hectare area of one of the largest natural parks in Europe allows you to discover and learn from its natural area with a diverse flora and fauna, as well as  to have the opportunity to witness an amazing overving of the city.

Best neighborhoods to buy real estate in Barcelona

The different yet equally fascinating neighborhoods in the city have their singular characteristics, which makes them unique and beautiful.

Buying a real estate in Barcelona depends on the priorities one has, if you are looking to purchase an extravagant house, with rustic and sophisticated facades, the neighborhood of Sarria-Sant Gervasi and Les Corts is the best choice with an average price of €5,133 per sq m in Sarria, and €4,944 in Les Corts. The upper northwest area of Barcelona is known for its luxurious streets, its proximity to El Parc de Collserola, and the location for the best international schools in the city.

On the other hand, if you are longing to live in the heart of the city where everything is near and different cultures fill the streets, La Ciutat Vella is the perfect place, with an average price of €4,000 per sq m. Hidden in the oldest area of Barcelona you can find the best cuisine from around the globe, cozy and exceptional music bars, and historical streets that will lead you to the Barceloneta beach.

Furthermore, with the arrival of the COVID-19 vaccine to the country, more international investors are eyeing to buy real estate in Barcelona, for the properties are low in demand (due to the lack of tourists and the freeze in real estate) but still have a great potential for capital in the long term.

How can you live in Barcelona

One of the best options is through the Golden Visa Spain, which will allow applicants and their family members to live, work and study in the city of Barcelona, as well as to travel within the Schengen area without an additional visa. The permit will let the visa-holders enjoy all the aspects of living in the Comital city: from the extraordinary Mediterranean weather, to the low cost of living, and the mix of different cultures, that combined with the nature, history, architecture and art makes Barcelona the ideal location to buy a property.

 

As the pandemic continues to affect everyone’s lives, high net worth individuals (HNIs) from India are opting for the Golden visa UK, which allows holders of this permit to live in the country through investment. Once the applicant has invested in a business, or purchased real estate in the country, the visa-holders and family members will be eligible to live, work and study in the country that offers the golden visa, as well as benefit from the advantages that comes with it.

There are many countries that offer the golden visa, so for wealthy Indians, some of the key factors to decide which golden visa to choose is the potential for international business, the top level education, and the healthcare system offered in the country. According to Global Wealth Migration Review India, nearly 5,000 millionaires have left the country in 2020, and an average growth of 50% has been shown for Indians that have sought to emigrate through investment.

How to get the Golden Visa UK

Moreover, India ranks top among the countries which have used the most number of Golden Visa UK. As of 2017, 72 wealthy Indians along with the 84 dependants have obtained the UK Tier 1 Investors Visa, whereas the permit-holders can stay legally in the UK for three years and four months. In order to apply for this golden visa, the applicant must choose from three investment options:

  • Investment of £10 million and the opportunity to obtain permanent residency after 2 years
  • Investment of £5 million and the opportunity to obtain permanent residency after 3 years
  • Investment of £2 million and the opportunity to obtain permanent residency after 5 years

Benefits of the Golden Visa UK

The Golden Visa UK is considered by Indians to be more attractive than other golden visas offered in other countries, such as Australia and the United States, because of the positive economy in the UK, as well as the beneficial healthcare system are aspects that have gained interest for the particular situation the pandemic has brought. Obtaining the Golden Visa UK ensures Indian entrepreneurs for a more comfortable lifestyle, as well as a great location for professional career growth.

Residency after Brexit

The changes that Brexit has brought may turn Indians into another option rather than the Golden Visa UK.

The visa programme that is becoming popular among Indians are the Golden visas that allow applicants to live, work and study in an European country. This investment option will give them the opportunity for top-quality education, and low-cost of living, as well as to travel within the Schengen Zone, a chance to visit neighboring European countries for leisure or business.

Nevertheless, one of the main reasons investors bet for a golden visa is for the opportunity to expand their business opportunities towards a more fruitful land, as well as to ensure a better lifestyle for their family.