Nowadays for non-EU citizens it is possible to become residents only if they have a high legal profit. It means that your profit shouldn’t be directly connected with labor activity. Types of appropriate profit are rent, bank percentage, shareholders dividends and so on. Also, it is obligatory to demonstrate enough money for living on Spanish bank accounts. In this case, you can obtain a residence permit called «Residencia sin ánimo de lucro». It gives a right to live in the territory of Spain but no right to work or make business. Later on, in case of residence prolongation, it is possible to change your type or permit. Read more...
If you own an apartment in Spain, you can either rent it long-term or short-term. Long-term rent is considered when you rent it for a year (basic rental contracts usually have a clause that indicated the obligatory 1 year of execution with possible prolongation for 5 years) an short-term rent means renting your apartment per days or per weeks. In the second case you will probably need to contract agencies specializing in managing short-term rentals, their services cost about 25 to 30% of the rental income. In that case you can always reserve the days that you want to stay in the apartment for you, and the rest of the year it will be rented.There is one flaw in this strategy though- most of the owners prefer to reserve summer months for themselves, exactly during the high season when accommodation prices reach their maximum. So we advise you to take into consideration, that the best rental period for short-term rent is July to August.
Also for sort-term rent you will need a tourist license. Currently in Barcelona issuing of the new touristic licences is banned, but is you buy an apartment has already has such license you can buy it and change the license to your name.
The foreigner identification number (NIE) – is a fiscal document, which is used to control taxes and for any administrative processes pertaining to foreigners in the territory of Spain. It is important to understand that the NIE is not a residence permit nor does it give right to travel within the EU. NIE is a paper of the A4 size where private details of an individual (first and last names, date of birth, nationality) and a private number given to the foreigner by the Spanish government are indicated. In Spain NIE is issued by the Main Police Force.The foreigner identification number (NIE) gives its owner an opportunity to make big financial deals in Spain without a residence permit and it is also necessary for taxation purposes. You will be asked for this number if opening a bank account, starting new employment or opening your own business, as well as for purchasing real estate or a car.
Obtaining NIE may take from several hours to couple of weeks, depending on whether you do it in Spain or from abroad.
When selling real estate in Spain, the seller has to pay a tax on the profit obtained from the sale. For non-residents of Spain the tax rate is 35%. All expenses which are incurred from buying the real estate property are deducted from the imposition amount. The sum of inflation loss is also deducted from the profit sum.
If the seller is not a Spanish resident, then during the purchase and sale process he receives 95% of the whole sum and 5% is put toward taxes as a guarantee of future tax payment. Later, after calculating the exact tax amount total, whether it exceeds or is less than the previously paid 5%, the seller either pays the difference or is returned the difference.
Property Register (Registro de Propiedad) is a state institution that has information about all properties in Spain and any operation with these properties. Any documents regarding selling or buying properties, mortgage, judicial acts and legal suits - everything is stored in this institution. This way, any encumbrances that are not registered in the documents issued by Property register do not apply to the new owner. The registry data are gives priority at any court.
If a real estate property is sold by a physical person, often it is done to save other assets, e.g. residential property. Companies who sell their commercial properties usually are in need of working capital thus ready to sell assets that are not in their line of business. One of the main reasons why some commercial proprieties are sold is mortgage debt.
Often, commercial real estate is sold by banks who got them as pledged properties for unpaid mortgage. And since banks usually do not have resources to manage commercial properties, it leads to more expenses from their side. In such cases it's easier for the bank to sell such properties often for a lower price.
Plus, there are companies specializing on purchasing and reselling commercial real estate. They gain more on reselling the property than they would in case of renting it, so such offers are also nothing to be afraid of.
If planning to by real estate in which to rent out to tourists, it's advisable to find property that is also ideal for permanent living. In this case, if any circumstances arise which prevent touristic business, you can always sell or lease the flat for long term. Investments in apartments that are good only for touristic business are risky. If touristic business drops, so does the price of the property.
In case of purchasing commercial real estate or offices with a long term rent contract that ensures high profit, it is extremely important to study this contract. It is advisable to hire a consulting company to do so. In some cases, the seller will make a fake rent contract in order to increase the attractiveness of a property. However, after the sale the contract is broken and the new owner is left with no guaranteed profit.
In terms of touristic rentals, the most attractive districts of Barcelona are the central and coastal districts. On average they provide more or less the same profitability. Apartments in the city center provide stable annual profit. Prices for seaside real estate are higher, but during the winter season the bookings are lower than in the center of Barcelona.
Since Spanish educational system is known to be a very efficient one, foreign students who come here have a variety of universities and educational programs to choose from. But before you decide to go to study in Spain, if you are from outside the EU you need to apply for a student via first. If you are planning to have a 1 month course it's sufficient to get a tourist visa with a right for a short-time course. For a longer course it is required to apply for a special student visa.
The medical system in Spain is one of the best in Europe. World renown medical institutions and clinics are located here, and visited by many international patients who come here for diagnosis and medical treatment. As is most European countries, the public medical care system in Spain perfectly harmonizes with private services.
Empadronamiento is a document issued by the city council that confirms your temporary registration in Spain. This document serves as confirmation of your stay/residence in Spain, independent from your citizenship or legal situation.
If you are planning a summer vacation in Barcelona with your children don’t worry, you won’t have to sit at home all day or look for a nanny. Gaudi’s monuments, hours in fashion boutiques and refined Spanish cuisine is definitely not the spare time the children dream about, but luckily Barcelona has a lot to offer even for the youngest visitors.
The International schools in Barcelona offer high-quality education in Spanish and English. Many of them incorporate a day nursery, kindergarten, and middle education. Children get a great opportunity to combine wide educational knowledge with additional language skills and other disciplines. Read more...
Barcelona universities are famous around Europe and the world. The capital of Catalonia offers a wide choice of government universities. Other than a general higher education, there is a possibility to get a Masters and Doctors. Read more...
Many people dream of buying real estate in Spain, however, not everyone is able to pay all the money upfront. The question of obtaining a mortgage then arises. Spanish banks are ready to provide mortgage loans for the purchase or construction of a real estate properties of up to 50% for non-residents of Spain.