Best Residence by Investment Lawyers in Alicante

About Residence by Investment Law in Alicante, Spain

Residence by investment, also known as "Golden Visa," is a program that allows individuals to become residents of Spain through significant financial investments. Alicante, with its beautiful landscapes and favorable climate, is an attractive destination for individuals seeking to take advantage of this program. Established under the Law 14/2013 to support entrepreneurs and internationalization, it grants residency to those who invest a minimum amount in Spanish real estate, businesses, government bonds, or funds. This pathway provides residency for both the primary applicant and their family members, with the potential to eventually gain permanent residency and citizenship.

Why You May Need a Lawyer

Seeking legal counsel when pursuing a residence by investment in Alicante is beneficial for several reasons. Legal advisors can help you understand complex local laws, ensure compliance with all regulatory requirements, and facilitate transactions to mitigate risks. Furthermore, they can assist in document preparation, negotiations, and representation before government bodies to avoid any mishaps that may delay the process. Lawyers can also offer guidance on tax implications and provide peace of mind as you navigate this substantial financial commitment.

Local Laws Overview

The key aspect of local laws regarding Residence by Investment in Alicante revolve around Law 14/2013. To qualify, applicants must make a minimum investment, such as purchasing real estate worth at least €500,000, investing €1 million in Spanish companies, or putting €2 million into Spanish government bonds. The law demands clean criminal records, proof of financial self-sufficiency, and medical insurance. Additionally, the application process involves thorough documentation, government evaluation, and adherence to deadlines. Understanding these regulations is crucial for a successful application.

Frequently Asked Questions

What is the minimum investment required to qualify for the Golden Visa?

The minimum investment required is €500,000 in real estate, €1 million in business investments or bank deposits, or €2 million in government bonds.

Can my family members be included in my Golden Visa application?

Yes, the Golden Visa allows the applicant's spouse and dependent children to be included in the application, granting them residency rights as well.

Is the Golden Visa renewable?

Yes, the Golden Visa is initially granted for one year and is renewable for two-year periods thereafter, provided the investment is maintained.

Does the Golden Visa grant the right to work in Spain?

Yes, the holder of a Golden Visa is entitled to work in Spain without needing a separate work permit.

Do I need to reside in Spain for a certain period to maintain the Golden Visa?

No minimum stay is required to maintain the Golden Visa. However, if you seek permanent residency or citizenship, you need to adhere to the usual residency requirements.

Can the investment be financed through a mortgage?

The required investment amount such as €500,000 in real estate must be unencumbered by debt, meaning it cannot be financed through a mortgage.

What are the tax obligations for Golden Visa holders?

Golden Visa holders may be subject to Spanish taxes depending on their residency status. Those residing in Spain over 183 days a year are considered tax residents and must pay taxes on global income.

Is the Golden Visa application process lengthy?

The application process can be completed relatively quickly, with residency permits often issued within one to two months if all requirements are met.

Can I lose my Golden Visa status?

You can lose your Golden Visa status if you do not maintain the qualifying investment or engage in illegal activities that compromise your residency.

What happens if my application is rejected?

If your application is rejected, you have the right to appeal the decision. Legal counsel can assist in navigating the appeals process and addressing the grounds for rejection.

Additional Resources

For reliable information and guidance, consider resources such as the Spanish Ministry of Foreign Affairs, Spanish consulates, and the General Council of Notaries in Alicante. Professional organizations like the Spanish Chamber of Commerce can also provide advice and support in the investment phase.

Next Steps

If you need legal assistance with residence by investment in Alicante, start by researching local law firms specializing in immigration and investment. Consider consulting with multiple lawyers to find one with the experience and knowledge that best suits your needs. Gather all necessary documentation and prepare any preliminary questions to maximize the efficiency of your legal consultation. Additionally, stay informed about any updates in Spanish immigration law to ensure compliance throughout the process.