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

 

According to the latest published figures, Spain broke the record again last year with the granting of the Golden Visa to international citizens. In total, 8,061 visas were granted in 2019, 22.6% more than in 2018, and the most common assumption was investment in real estate for an amount of more than € 500.000, excluding permits for family reunification or business transfer.

More specifically, a total of 681 citizens obtained the Golden Visa Spain through real estate investment in Spain, compared to 599 in 2018, which represents an increase of 13.7%. If we look at the number of permits granted, based on nationality, the Chinese were the first, followed by the Russians, Iranians, Americans and Mexicans.

The assumptions for which last year more visas were granted was intra-company transfer with a total of 1,361 permits and highly qualified professionals with 1,650 permits. In the first case, these are changes of residence due to work reasons and in the second, all the relatives (wife or children) from whom they have obtained permission are grouped.

On the other hand, and according to the College of Registrars, last year international citizens bought 3,858 homes in Spain for more than € 500,000 and of these, 1,393 operations were carried out by non-EU buyers. Mainly, the purchase of these properties was made in Catalonia, Andalusia, Madrid, the Valencian Community and the Balearic Islands, in this order.

 

Nationality permits

If we look at nationalities, China gathers the majority of residence permits, a total of 1,686, followed by Indians and Brazilians. One of the trends in recent years is the increase in the granting of residence to nationalities of South America, such as Colombians or Mexicans.

In the case of obtaining the Golden Visa through an investment of more than € 500,000, we again find Chinese citizens (455 Golden Visa), followed by Russians (42 visas), Iranians (21), Americans (16) , Mexicans (13) from Saudi Arabia (11), Egyptians (10) and Filipinos (10).

Some figures from 2020

If we look at the latest available data for 2020, in January 50 Golden Visa were granted for the purchase of a property of more than € 500,000 and 31 in February. According to all the assumptions, 782 permits were issued in January and 563 in February.

Orience International, by your side

What are your goals, how do you want to manage your assets? From Orience International we advise you with the investment program that best suits your needs. Remember that even in the state of alarm we are still 100% operational to offer you the best service. Also, you do not have to leave your country to carry out any procedure.

Contact us!

Information: El País

 

Barcelona is one of the most impressive cities in the world and, therefore, one of the most recommended for investment. The Catalan capital does not stop deafness, to grow, to evolve. Invest in Barcelona is the same as constant opportunities: new neighborhoods emerge and those that are already needed continue to transform. The opportunities increase, and the investor not only has more and more assets, but they are also very different which makes the operation even more interesting.

The real estate sector of the city of Barcelona is constantly expanding. The city is affected by one of the accounts with the best international economic promotion in the world. One of the best valued aspects of the Catalan capital is its efficiency in combining the use of technological intelligence and urban planning strategies. Its culture, the architecture it presents, the economic activity that takes place in it, the cultural diversity, etc. are also of great interest.

 Orience International by your side

If you want to invest in Barcelona, contact us. Depending on your situation and your objectives, we will advise you on which residence program is best to invest in order to achieve the objectives you have set: a high level of quality of life and social well-being, good weather, good health and education services.

Moreover, you can apply for any program without leaving home. Our team will carry out all the management so you don’t have to worry either leave your country.

 Neighborhoods to invest in Barcelona

The city of Barcelona has countless places that are worth discovering. In this post we will focus on four neighborhoods that have the ideal characteristics to invest in Barcelona.

Right Eixample:

 This neighborhood conquers due to its proximity to the city center and, in addition, it houses some of the most representative monuments of Barcelona: La Pedrera and Casa Batlló, among other architectural jewels. The modernist style that permeates the buildings is characterized by high ceilings, hydraulic mosaic floors and large windows that show the city and let in plenty of light into the homes. In this neighborhood you can find both small apartments of 50m2 up to more homes that exceed 500m2. On the other hand, it also highlights its wide range of services and public transport. Investing in Barcelona and, especially, in the Eixample neighborhood is betting on one of the most vibrant areas of the city.

Poblenou:

The Poblenou neighborhood has become one of the most popular areas of Barcelona. The true Poblenou, a beachside town within a city that retains highly demanded characteristics such as tranquility, but at the same time its proximity to the center of Barcelona. On the other hand, the urban renewal stands out: the icon is the Torre Glòries by Jean Nouvel, who designed it inspired by Gaudí’s funicular calculations, but next to it other notable examples appear such as the case of Media-Tic, a building by Enric Ruiz-Geli or the Melià Barcelona Sky hotel, a slender skyscraper designed by Dominique Perrault. Investing in Barcelona and specifically in Poblenou is synonymous with having a vision of the future.

 Sant Martí:

 The Sant Martí neighborhood is an industrial and business area that has hosted one of the most important startup centers in Europe, the 22 @. The neighborhood combines industrial buildings that have been chosen as the headquarters of newly created companies with large blocks of flats. The area is well connected to the city center with metro, bus and TRAM lines. On the other hand, it has a growing restaurant and leisure sector. The floors that we can find are varied: from medium-sized apartments to design lofts set up in old small factories or disused and restored commercial premises. It is an area of Barcelona perfect for investment given the possibilities of expansion.

Les Corts:

 Les Corts district offers the tranquility and elegance of the upper area, while retaining a popular, rural feel. Located to the west of the city, between the municipalities of Sants and Sarrià, it is a neighborhood full of squares and authentic and unique spaces where you can enjoy the tranquility, such as Comas square, where the monument of the countryman Pau Farinetes gives a clue about the neighborhood’s agricultural past. Investing in Barcelona and especially in Les Corts is based on observing the potential of this city space, which offers tranquility, but also exploits leisure on its streets and the possibility of moving to the center in a matter of just a few minutes.

 

Sofía Francés | Deputy General Director

 

 

After the hardest weeks of confinement, it seems that normal is returning in our day to day. One of the good news comes from the construction and real estate sectors, as the sector has been reactivated and it is estimated that there are some 350 construction works underway in Spain. In the next article we are going to explain why it is a good idea investing in real estate.

As they have explained from the sector, this figure represents 100% of the total residential and thanks to the construction companies and professionals, the slowdown we have experienced is beginning to recover. Thus, we can affirm that, once the situation is over, it is once again a good time to invest in real estate in Spain as well as being a safe investment.

 

The Golden Visa Spain, investing in real estate

Through our investment residency program, we help you plan and manage your assets so that you get the maximum benefits. In the case of the Golden Visa Spain it is a program that grants you residence in exchange for a minimum investment of € 500,000 in the real estate sector.

It is a really beneficial program for you and your whole family, who can also benefit from the main advantages. You can also move freely throughout the Schengen area, as well as work in Spain and access the healthcare system.

Another advantage is that you can carry out all the management without leaving home. Our highly trained team helps you throughout the procedure without leaving your country of origin.

Contact us

Residence by investment or, what is the same, the Golden Visa is a program that grants residence in exchange for a minimum investment of money in the real estate market of the country in question. The investment varies depending on the country, Spain, Greece and Portugal and provides a large number of advantages for the investor, which may also vary depending on the program, and also his family.

Main advantages about de Golden Visa program

Freedom of movement throughout the Schengen area: with the residence, the international investor will be able to move freely throughout all European countries.

Regrouping the family: both the Golden Visa in Spain and Portugal allow the investor to regroup his entire family (wife, children under 18 or financially dependent). In the case of Greece, the wife, children under the age of 21, the investor’s parents and the parents-in-law are included.

Right to work: the Golden Visa Spain and Portugal grants the right to work on the investor’s own account or that of others. It does not happen in the case of Greece.

Access to the healthcare system: both the investor and their families will be able to access healthcare in the country in question completely free of charge.

– Access to the educational system: as we have previously commented, minors can benefit from most of the advantages of the Golden Visa and one of them is access to school for children and teenagers.

Good quality of life: Spain, Portugal and Greece are countries with an unbeatable quality of life. With a very pleasant Mediterranean climate, the three countries offer quality essential services at an affordable price.

Easy process: Another important advantage of the three Golden Visa programs is that they can be applied for and processed without leaving the country of origin.

Likewise, in the case of Spain and Greece, a minimum stay in the country is not required to have residence. In the case of Portugal, the international investor must be in the country a minimum of 7 days during the first year and 14 days thereafter.

At Orience International we help and advise you so that you can get the Golden Visa quickly and without leaving home.

Contact us, we will be pleased to help you.

There are different ways of obtaining residence in Spain and they do not always have to do with investing in real estate. In Spain, it is possible to obtain a residence for highly qualified professional, a gainful residence or an inter-company residence.

In the following article we will focus on the residency for highly qualified professional, what are the requirements, benefits or how to get it.

The Act 14/2013, of September 27, of support to entrepreneurs and their internationalization, provides the authorization for highly qualified professional (HQP). Therefore, companies requiring the incorporation of professionals from outside the EU for the development of a work or professional activity may apply for a residence permit for highly qualified staff.

At the time of the application, the professional can be located outside the country or residing in Spain legally. If you are abroad, once the company obtains the residence permit, you will be able to apply for the corresponding visa at the Consulate of Spain in your country of residence.

 

OBJECTIVES AND REQUIREMENTS FOR THE RESIDENCY FOR HIGHLY QUALIFIED PROFESSIONAL

The main purposes of the residency for highly qualified professional are eliminating bureaucratic tasks in the process of attracting talent to the Spanish business sector. Furthermore, it also seeks to promote the internationalization of the Spanish company at the same time that improves the competitiveness of the economy itself.

This objective is achieved through residence authorization for highly qualified professional. It has the same duration as that set out in the contract or document proving the existence of a professional relationship between the two.

Companies wishing to apply for residence authorization for their senior or highly qualified staff must meet the following requirements:

  • The company must have more than 250 workers in the 3 months prior to the application.
  • The annual net turnover in Spain has to be more than 50 million euros.
  • The company must have equity in Spain of more than 43 million euros and must have made an average annual gross investment from abroad of at least 1 million euros in the three years preceding the application.
  • The value of the investor’s stock or position has to be more than 3 million euros.
  • Through a report by the Directorate-General for Trade and Investment, the company should prove the belonging to a strategic sector.

 

 BUSINESS PROJECTS

On the other hand, highly qualified professional who are part of a business project may also obtain a residence permit provided if they meet one or more of the next conditions:

  • Significant increase in the creation of direct jobs by the company applying for recruitment.
  • Job maintenance.
  • Significant increase in job creation in the sector of activity or geographical area in which the work activity is to be carried out.
  • An extraordinary investment with a socio-economic impact of relevance in the geographical area in which the work activity takes places.
  • The concurrence of reasons of general interest for trade and investment policy.
  • Relevant contribution to scientific and/or technological innovation.

 

BENEFITS

 The residence permit allows to reside and work throughout the national territory, including family members if they meet the age provided for in the labour regulations. If the foreigner is not in Spain, he can process a residence visa once the authorization is obtained.

There are other outstanding benefits like freedom of movement in the Schengen states, joint processing for family members and the extension of the validity of the situation of residence or stay in Spain of which the foreigner was the owner until the resolution of the procedure.

Finally, it’s noted that it’s an agile process because visas are resolved and notified within 10 business days. Regarding residence authorizations, they are resolved in 20 business days and can be applied through a legal representative.

 Zahra Maaroufi, Orience International Lawyer

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

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!

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.

Feedback Today, and online journal about interviews and companies, has interviewed our CEO, Oriol Molas, to know about the current situation and how the company is facing it.

Among the most important points of the interview we have:

  • There are two types of investors, those looking for business and those who want to acquire residency, especially Asian
  • Through the Sumit fund, at Orience International we offer real estate assets
  • Currently, and due to the situation of the coronavirus, the entire real estate market is paralyzed
  • The crisis will affect Spain more than its neighbouring countries, but this in turn will create new opportunities
  • In the future the investment is sure to return
  • From July the market will start to slowly recover

Read here the full interview