Best Residence by Investment Lawyers in Santa Cruz de Tenerife

About Residence by Investment Law in Santa Cruz de Tenerife, Spain

Residence by investment, often referred to as the "Golden Visa," enables non-European Union (EU) nationals to obtain legal residency in Spain, including the autonomous region of the Canary Islands where Santa Cruz de Tenerife is located, by making a qualifying investment. Typically, this involves purchasing real estate, investing in local businesses, government bonds, or creating new jobs. The program is designed to attract foreign capital and promote economic growth, providing investors and their families with the right to live, work, and study in Spain.

Why You May Need a Lawyer

Residence by investment applications involve strict legal requirements, documentation, and substantial financial transactions. A lawyer specializing in this area can provide vital guidance in the following scenarios:

• Navigating complex Spanish immigration laws and bureaucratic processes
• Verifying eligibility for the program
• Ensuring investment funds are legally sourced and properly documented
• Drafting and reviewing purchase or investment contracts
• Managing tax implications related to investments and residency
• Dealing with denials, appeals, or renewal processes
• Assisting with family member inclusion in the application

A local legal advisor can ensure that your application is complete, minimize risks of rejection, and help protect your interests throughout the process.

Local Laws Overview

Spain's residence by investment legislation is governed at the national level, but local regulations and administrative practices in Santa Cruz de Tenerife must also be considered. Here are some crucial aspects:

• The primary legal framework is Law 14/2013, supporting entrepreneurs and their internationalization
• Minimum real estate investment is currently set at 500,000 euros per applicant
• Permitted investments also include shares in Spanish companies, government bonds, and business projects in the Canary Islands
• Residence permits cover the main applicant and qualifying dependents
• Initial permits are granted for two years, renewable for five-year periods as long as the investment is maintained
• Residence by investment permits generally allow free movement within the Schengen area
• Legal residency in Spain may eventually qualify for long-term residency or citizenship, subject to meeting residency and integration requirements
• The Canary Islands offer special tax incentives for investors and companies under the Canary Islands Special Zone (ZEC)
• Local property purchases must comply with regional planning, zoning, and taxation rules

Frequently Asked Questions

What types of investment qualify me for a residence permit in Santa Cruz de Tenerife?

You can qualify by investing at least 500,000 euros in real estate, one million euros in shares of Spanish companies, two million euros in Spanish government bonds, or starting a business that creates jobs or is of economic interest in Spain.

Can I include my family members in my residence by investment application?

Yes, spouses, dependent children under 18, and dependent adult children or parents may be included provided you can prove financial support.

How long does it take to obtain the residence permit?

Typically, the process takes about two to three months from application submission, provided all documents are in order.

Do I need to reside in Spain full-time to maintain my permit?

No, you are not required to live full-time in Spain, but you must visit at least once per year and maintain your qualifying investment.

Will I have to pay Spanish taxes as a resident by investment?

You are only considered a tax resident if you spend more than 183 days a year in Spain. Otherwise, you may only pay taxes on Spanish-source income.

Can I work or run a business with a residence by investment permit?

Yes, as a golden visa holder you can legally live, work, and start a business in Spain.

What are the key risks or challenges with this process?

Typical challenges include complex documentation requirements, meeting eligibility criteria, local property regulations, and compliance with anti-money laundering laws.

Can my permit be revoked?

Yes, if you fail to maintain the required investment, commit serious legal violations, or provide false information, your permit may be revoked.

Does residence by investment lead to Spanish citizenship?

After five years of continuous legal residency, you may apply for permanent residence. Citizenship is possible generally after ten years of residing in Spain, subject to certain requirements.

What role does a local lawyer play in this process?

A lawyer ensures compliance with national and local laws, handles due diligence, drafts and reviews contracts, manages applications, and helps resolve legal or administrative issues that could jeopardize your application.

Additional Resources

Should you need more information or professional assistance regarding residence by investment, consider consulting the following resources:

• Spanish Ministry of Inclusion, Social Security and Migration - for official immigration guidelines
• Government of the Canary Islands - for regional investment programs and tax incentives
• Santa Cruz de Tenerife City Hall - for local administrative procedures
• Bar Association of Santa Cruz de Tenerife - to find accredited immigration lawyers
• Chambers of Commerce and local business associations - for business investment opportunities

Next Steps

If you are considering applying for residence by investment in Santa Cruz de Tenerife, take the following actions:

• Identify the type and amount of investment most suitable for your circumstances
• Gather supporting documentation, including proof of funds and clean criminal records
• Consult an experienced local lawyer to evaluate eligibility, risks, and compliance requirements
• Work with your legal advisor to prepare and submit your application efficiently
• Plan your move and future tax obligations with professional guidance

Taking legal advice early is essential to reduce risks and ensure your investment and application meet all national and local requirements in Santa Cruz de Tenerife.