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 programme, 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.

VISA 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.

This is a brief summary of the benefits obtained with this vis:

  • Visa-free travel to Schengen zone
  • Right to live and work in Spain
  • Entire family is eligible to the programme
  • Good quality life
  • Access to one of the best healthcare systems around the world
  • Access to an excellent educational system

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 on the demand for real estate in Spain have recently been published. Despite the fact that domestic demand has decreased, international demand 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.

Foreign investors can obtain a visa for permanent residency by buying real estate in Spain. This can give them and their families the opportunity to live, work and study in Spain and benefit from the many advantages that come from it, such as the healthcare system and the great educational system of the country.

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 market of real estate 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 Spain 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.

Spain has re-opened for European Union and overseas tourists on June 7, 2021 and has already received the most searches of Google for houses to rent or buy real estate. This is definitely a good time as any to invest in a second home and a residence visa.  

Due to the pandemic, price levels for buy real estate in Madrid have fallen by about 5% especially for second-hand homes. Income from short-term and vacation rentals have all but disappeared.  The good news is that these properties can be re-listed as long-term leases according to market demand. Madrid is presently a seller’s market but the forecast is that in the next 6 months it will be a buyer’s market.

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

After two weeks of total lockdown, since yesterday the government has implemented a deactivation of the confinement, which means that workers in those companies where teleworking is not possible can return to their jobs. This measure applies mainly to the construction and industry sectors.

Also, and to preserve the safety of these people as much as possible, the government has prepared a guide of good practices for companies that have resumed their activity:

– Maintain the interpersonal distance of at least 2 meters

– Frequent hand washing

– Hygiene of public and private spaces.

In addition to the previous measures, the Minister of Health has asked employers to stagger the hours of employees and, as far as possible, provide them with the necessary protective equipment.

On the other hand, and about transport, the government has recommended that workers come to work in means in which social distancing can be guaranteed, such as the private vehicle, walking or cycling.

Distribution of masks

In parallel, the government is distributing, since yesterday, hygienic masks for workers who go out to work. They are distributed free of charge in the main public transport stations of trains, subways and buses. In total between yesterday and today more than 10,000,000 million masks will be distributed throughout the country.

The last hour in Spain

Despite the lifting of total lockdown, Spain remains in alarm until April 26, and government sources have already advanced that the situation will last until mid-May. This means that all those who can, should continue to telework and only go outside to buy products, go to the pharmacy or walk the pet. In addition, they can only open supermarkets and pharmacies, and restaurants, bars, shops, museums, etc. they will remain closed.

If we look at the figures, little by little things are improving. According to the latest balance published by the Ministry of Health, the number of those infected continues with the slowest growth, with 3,045 new positives, the lowest number since March 20. As for the cured people, they represent 39% of those infected, with 2,777 new discharges. Finally, and despite the fact that the number of deaths has increased slightly compared to yesterday, the downward trend continues with figures much lower than last week.

The Passport Index is a world ranking that analyzes the most powerful passports in the world, that means, the passports that give more freedom of movement to its citizens.

Like every year, in early 2020, the ranking led by Japan was presented. In any case, due to the current circumstances that are being experienced with the coronavirus crisis and when half the world is confined to their country without being able to leave, the ranking has varied substantially.

We can affirm that Japan has maintained its position at the top of the table, followed by Singapore, which has entered the second quarter of 2020. Third, we find Germany and South Korea tied, and it is in fourth position where we find Spain, along with Italy, Finland and Luxembourg.

As explained by the experts, the circumstances of the pandemic have changed, in some cases, the power of certain passports.

 

The importance of health security

Traditionally, the strength of each passport was measured, among other things, by the country’s economic situation or geopolitical issues. Well, the coronavirus crisis has highlighted the importance of the quality of the health system and emergencies of each country.

According to experts, it will be interesting to see if health security will be one of the aspects to consider when evaluating the option of acquiring a second passport in a specific country.

If we focus on Spain, the health system is characterized by being public and universal. Also, during the Covid-19 crisis, the Spanish executive has taken different measures and decisions that have been applauded by the World Health Organization.

 

The good positioning of Spain

The fourth position that ranking gives to Spain shows the value of having Spanish nationality. Firstly, with this passport we can travel to 188 countries without the need for a visa, this means that we can enter many countries without asking for any prior authorization or doing bureaucratic procedures.

Likewise, Spain enjoys an excellent quality of life. Cosmopolitan cities, but also dream beaches in the Balearic Islands are just some of the options that the country offers us. Madrid and Barcelona are the two most important cities, with a better balance between work and personal life, according to numerous rankings. In addition, and as we have previously pointed out, the Spanish healthcare system is one of the most advanced in the world, which is one more attraction when it comes to investing in Spain.

Finally, it is interesting to note that, through the Golden Visa Spain program, the investor obtains the residence permit for himself, but also for his family, spouse and children.

The following is the top 10 of the index:

1. Japan (191 destinations)

2. Singapore (190)

3. South Korea and Germany (189)

4. Italy, Finland, Spain, Luxembourg (188)

5. Denmark and Austria (187)

6. Sweden, France, Ireland, the Netherlands and Portugal (186)

7. USA, UK, Belgium, Norway and Switzerland (185)

8. Czech Republic, Greece, Malta and New Zealand (184)

9. Canada and Australia (183)

10. Hungary (182)

 

Source: CNN

 

Restaurants and bars are another sectors highly affected by the coronavirus crisis. The locals cannot open their doors and for three weeks they have not received diners. Despite the situation, they have wanted to contribute their bit to fight this situation and help the most disadvantaged to have food.

This is the case of ‘Comer Contigo’, an initiative that ensures that no person is left without food these days. The association has served more than 600 meals since last Thursday and more and more chefs are joining the initiative. The dishes are served to those with few resources, but also to doctors from hospital centers in Barcelona.

Another initiative, the first of all to be born, is ‘Health Warriors’, which offers food to health staff, the great heroes of this crisis. Currently, more than 100 restaurants have joined. Another association is ‘Food for Good Bcn’, which has taken advantage of the raw material left over in many restaurants to prepare dishes for a good cause.

At the same time, the famous chef José Andrés has come to Spain to continue working with his project: World Central Kitchen. In this way, and with the help of different collaborators, they serve food to disadvantaged people in different cities of Catalonia.

This is only a small example of the solidarity that Spanish citizens are showing in recent days. In addition to food, there are those who offer to walk pets, make purchases for the elderly or offer psychological care via the internet to better cope with confinement.

Managing the crisis in Spain

Spain is one of the countries most affected by the coronavirus crisis and the Spanish government is deploying all its means to control, in the best possible way, the pandemic. As we explain in this post, health management is one of the strengths, since the authorities are managing each and every emergency in a fast and orderly manner.

Likewise, the population remains confined, and the police monitor that no one skips the lockdown. Only essential services personnel such as doctors, nurses, transporters, etc. can go to work, the rest of the people must respect the lockdown until the alarm state is over.