extra mile with you.” Viñal said the partnership Antonio Viñal & Co. Abogados was arranged in order to better fulfil the client’s needs in terms of practice areas and location. While retaining the firm’s original focus on corporate, litigation and transportation law, more areas were added to the mix: IP, IT, labour and employment, tax, international trade and banking departments were created while a significant expertise developed in industries such as textile, construction, wine, tourism, energy, franchising and health and life sciences. The firm’s 29 years of experience is really worth all the efforts. It has participated in the ups and downs of the industry, commiting to its client while delivering a wide range of services. INDUSTRY LEADER Antonio Viñal’s dream is for his law firm to become the firm of reference in Southern Europe for South-East Asians and also, with the help of its fellow law firms throughout ASEAN, to bring more Iberian companies into the dynamic region of ASEAN. “I do not see any reason why European investors should not be interested in buying property in Malaysia because there are top quality developments in the country. I think, for European investors, there are maybe two niche markets: one of them would be for expatriates – there are some Spanish and Portuguese companies here but we need to bring more. And there’re also residentials for second home, or holiday home,” Viñal said, adding, “One thing we really need between Malaysia and Spain is direct connection, the direct flight. We need to bring them back.” From a Spanish Southern Europe perspective, there are still a lot of opportunities for people from Spain and Portugal to get to know about the Malaysian market, according to Viñal. “I would say there’s very little knowledge in ASEAN as a whole and specifically about Malaysia, so I think there is a lot of room for improvement.” He added, “I think, with the right promotion, you could see more investors from Spain and Portugal
coming into Malaysia. So it’s just a matter of education, making them aware of the opportunities which lie within the Malaysian property market. We have spoken to some development agencies in Malaysia that are on the lookout for foreign investors. And I think the need to reach out into Spain, Portugal, and Italy, would definitely help them. Perhaps we’re not speaking of large volumes, but there is a lot of room for improvement.” He reiterated, “We would very much like to help Spanish and Portuguese investors come into Malaysia and ASEAN, and help them understand how important the ASEAN economic community is going to become, how important it already is, and how much more developed it will become in the future. So I think it is our duty to help them understand the importance of being here, having a presence here,” said Antonio Viñal. “Although data is generally positive for the global property market, it is essential to break it down into regions and sub-regions to know where the real finds are,” he remarked. “Right now, every report from major consultancy firms and real estate agencies point in the direction of Southern Europe. Apart from the above stated reasons, the European property market is a good alternative to other traditional investment strategies such as deposit accounts which now offer very low returns,” he said. “With regard to the Malaysian property market, I believe it could attract more South European investment, both in and out of the Greater KL area, with the right promotion.” Since Antonio Viñal & Co. Abogados has an office in Malaysia, Viñal thinks the law firm can be of valuable assistance to investors in both regions. “They just need to call us, or visit us, and we will be more than happy to help them in any possible way,” Viñal said. “If it’s pure investment, we can help them. We can help them with the visa, whether it’s the Golden Visa or a regular visa. We can assist them with the immigration procedures as well. “And we also have a website for the golden visa (www.gold-visa.eu) where we post all the benefits and requirements. Interest in the Golden
“We can also assist them, if necessary, to seek the right financing. In the legal phase, we take care of due diligence and conveyancing, we draft or review agreements, arrange the paperwork with the notary and file the public deed with the Land Registry and Tax Office. We also study the tax implications at entry and exit point and advise on the best arrangements.
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Visa also stems from the fact it gives investors access to the Schengen area which comprises 26 European countries. A part from the immigretion procedures we can also assist individual with their application to such benefits as the text regime for non habitual recidents, which provides a flat fee on Portuguese income of just 20%, order impatriate regime in Spain with a flat fee of 24%. Obviously there’s much larger area, number of countries in Europe. You can travel freely to the Schengen area,” he explained. “So I think the timing is right. I think we’ve come at a good moment, and we look forward to collaborating with Malaysian investors, Malaysian real estate agencies, Malaysian law firms, Malaysian banks, to help them understand the property market in Spain and Portugal and the system in whatever capacity they might deem fit,” Viñal ended. Investors interested in expanding their horizons into the real estate markets of Spain and Portugal, or with questions on legal and tax matters on property investments in the Iberian Peninsular, are encouraged to contact Antonio Viñal & Co. Abogados at www. avinalabogados.com for more details. www.propertyinsight.com.my | MAY 2015
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