Best Residence by Investment Lawyers in Arrecife

About Residence by Investment Law in Arrecife, Spain

Arrecife, the vibrant capital of Lanzarote in the Canary Islands, forms part of Spain’s welcoming stance toward investors through its Residence by Investment program, commonly known as the Golden Visa. This legal pathway allows non-European Union citizens to obtain Spanish residency rights by making significant investments in Spanish real estate, business, bank deposits, or government bonds. The most common route in Arrecife involves purchasing property valued at or above the legally stipulated minimum. Residency obtained through investment enables beneficiaries and their immediate family members to live, work, and study in Spain, with the potential for long-term residency and eventual citizenship.

Why You May Need a Lawyer

While the Residence by Investment program seems straightforward, the legal intricacies and bureaucratic requirements can quickly become overwhelming. A lawyer specializing in Residence by Investment can provide vital assistance in various scenarios, such as:

• Reviewing property purchase contracts and ensuring titles are free of encumbrances
• Verifying the legitimacy and compliance of your intended investment
• Preparing and submitting visa and residency documentation
• Navigating complex tax implications and financial disclosures
• Facilitating communication with local authorities, banks, and notaries
• Assisting with family member applications and renewals
• Advising on the path from residency to long-term settlement or citizenship

Legal counsel minimizes your risk, avoids costly errors, and ensures you are protected throughout the process.

Local Laws Overview

Spain’s Residence by Investment law is governed by Law 14/2013, of 27 September, which focuses on entrepreneurs and internationalization. Key aspects relevant for Arrecife include:

• Minimum Investment: The most common route is a real estate investment of at least 500,000 euro, excluding taxes and fees. Other options include investments in Spanish companies, government bonds, or significant bank deposits, each with its own minimum amount.
• Property Location: Property may be purchased anywhere in Spain, including Arrecife. All transactions must be fully documented and registered.
• Residency Rights: The investor and eligible dependents (spouse, minor children, dependent adult children, and dependent parents) gain a renewable residency permit.
• Residence Requirements: There is no obligation to live in Spain full time, but visiting at least once per year is usually required for renewal.
• Legal Checks: Investors must have no criminal record in Spain or the countries of residence for the previous 5 years, access to private health insurance, and proof of sufficient funds.
• Processing Time: The Golden Visa process is relatively fast, often completed within 2 to 3 months after investment.
• Renewals and Citizenship: Initial permits are valid for 2 years, followed by 5-year renewals. After 10 years of legal residence, you may apply for Spanish citizenship, subject to other requirements.

Frequently Asked Questions

What are the main types of investments that qualify for Residency by Investment in Arrecife?

The most popular route is the purchase of Spanish real estate worth at least 500,000 euro. Other pathways include a deposit of at least 1 million euro in a Spanish bank, investing 1 million euro in Spanish shares or companies, or acquiring 2 million euro in Spanish government bonds.

Can I buy multiple properties in Arrecife to reach the minimum 500,000 euro investment?

Yes, you may combine several residential or commercial property purchases to reach or exceed the 500,000 euro threshold, provided all properties are located in Spain and are acquired free of liens.

Are taxes and purchasing fees counted toward the minimum investment?

No, only the net purchase price of the property is considered for the minimum investment. Taxes, notary fees, and associated costs are excluded.

Can my spouse and children also get residency through my investment?

Yes, your spouse, minor children, and dependent adult children, as well as dependent parents, can all apply for residency as part of your investment application.

Do I have to live full time in Arrecife or Spain to keep my residency?

No, physical presence in Spain is limited. You must visit Spain at least once a year to maintain and renew your residency permit, but there is no full-time residence requirement.

How long does it take to receive the residence permit after investing?

From the time of your completed investment and submission of all required documents, issuance of the initial residence permit typically takes 2 to 3 months.

What documents will I need to provide for the application?

You will need your passport, proof of investment (e.g., property deeds), criminal record certificate, proof of medical insurance, evidence of sufficient financial means, and, if applicable, documents for dependent family members.

Can I rent out my investment property in Arrecife?

Yes, you may rent out your property, which could provide you with rental returns. However, you must comply with local rental regulations and tax obligations.

Is the Golden Visa a path to Spanish citizenship?

Yes, after obtaining and renewing your residency permits, you may apply for permanent residency after 5 years and citizenship after 10 years, provided you meet all legal requirements, including periods of actual residence.

What happens if I sell my property or liquidate my investment?

If your qualifying investment is sold or liquidated, you may lose the basis for your residency permit at the next renewal. Maintaining your investment is crucial for ongoing residency rights.

Additional Resources

If you are seeking more information or legal advice, the following can be useful:

• The Spanish Consulate in your home country
• The Official Website of Spain’s Ministry of Inclusion, Social Security and Migration
• Local property registries in Arrecife (Registro de la Propiedad)
• Certified Spanish immigration lawyers and legal associations
• Local notaries and the Colegio de Abogados de Las Palmas (Bar Association)
• The Chamber of Commerce in Lanzarote for business investments
• Spanish tax consultants familiar with Golden Visa matters

Next Steps

If you are considering Residence by Investment in Arrecife, Spain, your journey should begin with thorough research and professional advice. Gather basic information about your family, investment budget, and your goals. Then, consult a qualified local lawyer or an immigration specialist who can explain your options, prepare the correct documents, and protect your interests throughout the process. Your advisor can also liaise with local institutions and ensure you remain compliant with Spanish and local laws. Taking legal guidance early will ensure a smoother, safer, and more successful application for your new life in Arrecife.