Find out about the matrimonial property regimes in Spain and how they can impact the Golden Visa Real Estate 🇪🇸🏠
Did you know that the matrimonial property regimes in your country can affect when investing in Spain? Do you know what matrimonial property regime you have? Do you know the effects it has when you buy a property, for example?
In this article, we’ll explain to you the different matrimonial property regimes in Spain. Also, its effects on the Golden Visa Spain.
Types of matrimonial property regimes 👈
In Spain there are 3 matrimonial regimes:
- The regime of community of acquisitions
- Separation of property
- Regime of participation in acquisitions
However, there are regions in Spain with certain particularities regarding the matrimonial property regime. For example in Navarre, there is the “regime of conquests”.
What are matrimonial property regimes? 🤔
The matrimonial property regimes are the set of rules that determine the economic interests within the marriage.
The economic regime applicable to each marriage is determined by the parties in the prenuptial agreement, or in the absence of the applicable regulations in each region. Before getting married you can agree to the matrimonial property regime by means of a prenuptial agreement before a Notary.
It’s essential to review the consequences of selecting a specific matrimonial property regime since it will have a direct implication in the case of separation, divorce, inheritance, etc.
In Spain, there are several legislations in civil matters since some Autonomous Communities have competencies to legislate on it. In most of the Spanish Autonomous Communities, the applicable regime is the community of property regime. (If there is no agreement between the spouses.)
From Luxton Legal, we’ll explain to you the main characteristics of the different matrimonial property regimes.
The regime of community of acquisitions
All profits or benefits obtained by the spouses during the marriage are common. In case of separation or divorce, the assets generated are divided equally.
Separation of Property Regime
Each spouse has the right to share in the earnings of the other spouse during the term of the marital regime.
Matrimonial property regime and Golden Visa Real Estate ⚠️🔑
⚠️ In case you are in the regime of separation of property and both of you want to buy a property for a total amount of 500,000 euros, it will be understood that each investor has only made 50% of the investment. Therefore, they would not comply with the investment requirement.
Alternatives to solve and to be able to apply for the Golden Visa ✅
1. One of the spouses buys the property and the other spouse and his/her relatives will apply for the Golden Visa as accompanying family member. This way, one of the spouses would meet the minimum investment requirement of 500,000 euros.
2. If you both want to be owners, there is the option that one of the spouses acquires a percentage of the property (corresponding that percentage to a minimum of 500,000 euros). The other spouse can acquire the remaining percentage. This way, at least one of the spouses would meet the 500,000 euros requirement and the other spouse could apply for the visa as an accompanying relative.
3. Prenuptial agreements in Spain. If you are married under a separation of property regime and your legal system allows it, there is the possibility of granting a prenuptial agreement in Spain. In this way, you could opt for the community property regime for your assets in Spain. Thus, both of you could buy the property since both spouses would be holders of the total of the property, so an investment of 500,000 euros would be enough to fulfill the requirement for the Golden Visa.
If you had bought the property in the regime of separation of property, it is possible, at a later stage, to grant a prenuptial agreement (if your legal system allows it). Afterwards, you’d be able to transfer the property already brought to the community property regime in order to be able to fulfill the minimum investment of 500,000 Euros.
4. To buy another property. The last option would be to buy another property in Spain, so that, if you are married in separation of property regime, each of the spouses reaches the minimum requirement of 500,000 euros.
If you have any questions, leave us a message and we’ll talk! 👇💌