Spanish Inheritance Laws

 

An example on how the estate must be dispose according to Spanish Inheritance Laws.

To the children and other descendants, corresponds to them a third, that receives the name of” Legitima corta” that is distributed evenly between them. That third is inherited in “plenipropiedad”, that is to say, the naked property and the usufruct at the same time. But, they also have the right to another third, the one of improvement or “legitima larga”, that is destined to the children and grandchildren. It does not have to be equal parts, there may be some “favorite” descendants.

Parents and other ascendants, in the absence of surviving descendants, are entitled to one-third of the inheritance, if there is a widowed spouse, or half of the inheritance, if the deceased did not have a spouse.

The widowed spouse, his or her ”legitima” one is always in usufruct, and will be smaller or greater, according to who attends the inheritance, if there are children or other descendants, it corresponds the usufruct of a third (the one of improvement) of the inheritance, if only there are ascendants, the legitimate is the usufruct of half of the inheritance, and if there are no ascendants or descendants of the deceased, will inherit the usufruct of two thirds of the inheritance.

Keep in mind that the rules above may apply according to  Spanish national Civil law, but there are other civil laws in Catalunya, Aragon, Balearic or Galician.

 

Independent advice get your own lawyer when buying in Spain

All being well, a property sale in Spain can be completed in a couple of months. However, some people have make costly mistakes by not seeking independent and impartial legal advice.  The same caution that you would apply at home has to be applied in Spain.

All the horror stories you have heard about, would have been avoided if the legal searches had been carried out  by a qualified and experienced lawyer who is acting solely on your behalf.

We at SLS advise, before you make a reservation, sign any contract, or pay any monies upfront, to get independent legal advice from somebody who has your best interest at heart. We know that trying to save money on this important step could be a false economy, and may prove  more expensive in the long run.

It is astonishing how many people do not use a lawyer for their purchase of Spanish property, and instead use an estate agent or other unqualified person. This course of action can have devastating consequences.
Always make sure that you use a lawyer who speaks your language fluently, is independent of the seller and any estate agent.
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Insurance Claims

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Making a claim to an insurance company, especially in another language and in another country, can be overwhelming at best. If you want to make a successful claim it’s important that the claim is made properly, following all legal protocols.

Our team has helped numerous clients in obtaining their compensation for damage to the person and/or property.

  • Accident
  • Theft or robbery
  • Damage to housing
  • Damage to your business or enterprise
  • Damages due to inadequate accommodation
  • Medical Negligence

 

Residence trough Investment – Part IV

VISA TROUGH INVESTMENT- IV PROFESSIONALS TRANSFERS

Residence visa for business transfer (TTI).

This type of visa may be obtained by those foreigners who move to Spain within the framework of a working, professional relationship or for reasons of professional training with a company established in Spain or in another country.

Residence trough Investment- Part III

RESIDENCE TROUGH INVESTMENT III INVESTIGADORES

Residence visa for training or research

Graduates, postgraduates from renowned prestige universities and business schools. Training, research, development and innovation.

Those foreign nationals who intend to enter Spain, or who holding a stay or residence permit, wish to carry out training, research, development and innovation activities in public or private entities, shall obtain the corresponding residence visa or a residence permit for training or research which will be valid throughout the national territory in the following cases:

a) Research staff referred to in article 13 and the first additional provision of Act 14/2011, of 1 June, on Science, Technology and Innovation.

b) Scientific and technological staff carrying our scientific research, development and technological innovation work, in business entities or R&D&I centers established in Spain.

c) Researchers subject to an agreement with public or private research bodies, under the conditions set out in the regulations.

d) Lecturers recruited by universities, higher education and research bodies or centers or business schools established in Spain, in accordance with the criteria set out in the regulations.

Residence trough Investment – Part II

 

HIGHLY QUALIFIED VISA

4-Residence visa for highly skilled professionals. (TAC) 

Companies needing to incorporate into Spanish territory foreign professionals to perform an employment or professional relationship covered under any of the following cases may apply for a residence permit for highly-qualified professionals, which will be valid throughout Spain:

  1. a) Management or highly-qualified personnel, when the company or group of companies has any of the following characteristics:

1st. Average workforce during the three months immediately prior to filing the application greater than 250 workers in Spain, registered in the relevant Social Security system.

2nd. Annual net business turnover in Spain, of over 50 million Euros; or volume of own funds or equity or net worth in Spain exceeding 43 million Euros.

3rd. Annual average gross investment, from abroad, not less than 1 million Euros in the three years immediately prior to the application filing date.

4th. Companies with an investment stock value or position according to the latest data from the Foreign Investments Registry of the Ministry of Economy and Competitiveness of over 3 million Euros.

5th. In the case of small and medium sized businesses established in Spain, that they belong to a sector considered strategic, which is certified by a report from the Directorate-General for International Trade and Investments.

The accreditation of compliance with the previous requirements shall be made just once and it stays registered with the Unit for Large Companies and Strategic Economic Sectors. This registration shall be valid for 3 years, on a renewable basis, if the requirements are maintained.

 

Residence through Investment- Part I

 Casco-Antiguo-de-Marbella

Spain is in a process of improving the culture of entrepreneurship and creation of productive economic activities, with the aim of improving the environment for research, development and continuous social and economic growth. Therefore, a new law has been created “Ley de emprendimiento y la visa de residencia por inversión”, an entrepreneurial and investment residence visa.

Do you meet any of these following criteria?

  • Are you a non EU citizen?
  • Do you have an investment project that will result in the creation of jobs? –  or
  • Do you want to invest in any of the designated development areas and thereby to contribute to their economic development? – or
  • Are you considering the purchase of a home with a price in excess of 500,000 Euros?

Requirements

  • Aged over 18 years.
  • No criminal record in Spain and in the countries where the person has resided in the past 5 years, for offenses under the Spanish legal system.
  • Not listed as objectionable in the countries with which Spain has signed an agreement to that effect.
  • Having a public insurance or private health insurance made ​​with an insurer authorized to operate in Spain.
  • Have sufficient means for himself or herself and members of his/her family during his/her period of residence in Spain ( € 2,130 per month for the applicant and 532 € for each family member who is in charge ) economic resources.
  • Pay the fee for processing the visa.

Type of Visas

1- Residence Visa for Capital Investment. (RIC)

An initial investment with a value equal to or greater than two million titles of Spanish public debt or by a value equal to or greater than one million euros in shares in Spanish companies or deposits in Spanish banking financial institutions.

2- Residence Visa for Real Property Acquisition. (RIV) 

A person may apply for this visa if they can prove they are buying real estate in Spain with a value equal to at least € 500,000.

3-Residence Visa for Entrepreneurs and Entrepreneurial Activity. (REM) 

Under this assumption those investors who submit a business plan that will be developed in Spain and is considered and reputable as general interest such as planning to enter and stay in Spain for a period of one year with the  sole or principal purpose to carry out the preparatory work to develop an entrepreneurial activity.

It must be noted that it is admissible significant capital investment when the investment is carried out by a legal person, domiciled in a territory that is not considered a tax haven according to Spanish law and the foreign person directly or indirectly owns, the majority of the voting rights and has the power to appoint or remove a majority of the members of its board.