• wecity
  • General concepts to be familiar with before investing
  • Information for Sponsors
  • I am going to sign up
  • I want to invest
  • I have already invested
  • Taxes and fees
  • My wecity account

What is wecity?

We are a start-up company bringing together the financial + real estate + technology (proptech) sectors. We are fully capitalized through private financing.

We are a Crowdfunding Platform or PFP (Participatory Financing Platform) authorized by the National Securities Market Commission (CNMV), listed with registration number 30. Our activity consists, according to law 5/2015, " in connecting a number of individuals or legal entities that offer financing in exchange for a monetary return, called investors, with individuals or legal entities that request financing in their own name to allocate it to a participatory financing project, called sponsors."

wecity is CITYPRIVE PFP SL's trademark.

What is NOT wecity?

We are neither an Investment Fund nor a Listed Real Estate Investment Company (socimi).

We comply with the law on Participative Financing Platforms and therefore we are not an investment services company, nor a credit institution and we are not affiliated to any investment guarantee fund or deposit guarantee fund.

Who are we?

We are a multidisciplinary team specialized in the real estate, finance and technology sectors with more than 50 years of expertise. If you want to get to know us, you can visit us in the team section.

How does it work?

You can see how wecity works in the how it works section. We have also created a video to help you understand us.

In what can I invest and how?

In crowdequity real estate opportunities, that is, in investment opportunities involving a capital increase of the company proposing the real estate project.

You will be able to invest in real estate through the purchase of shares of the public or private limited companies owning the assets. Like this, investors can leave the real estate purchase and management in the hands of professionals of the sector.

This way of working will allow you to distribute the capital you want to invest among those real estate projects that seem interesting to you.

Why to invest with wecity?

“wecity is the technological and innovative ecosystem where institutional Sponsors and investors communicate, manage funding and share profits.”

Our mission is to democratize (wecrowd) access to high returns in the institutional real estate market (wecity).

As an investor, we provide you with the highest returns (see opportunities), excellence and proven experience (see team), technological innovation (web, app), transparency (see my orofile, fees and risks) and security (investor security and transactional security).

As a Sponsor, we provide you with an alternative to your financing and we create for you a portfolio of investors for the present and for the future.

Both, Sponsors and investors, are wecity clients (authorized by the CNMV).

Does the CNMV monitor wecity?

Yes. wecity (trademark of CITYPRIVE PFP SL) is authorized and registered in Spanish National Securities Market Commission (CNMV) and is therefore supervised by this institution.
wecity is licensed as a PFP (Participatory Financing Platform).

Is it safe to invest in wecity?

Investing in wecity's opportunities entails the risks inherent to any type of investment. Although we carry out a thorough analysis and propose mitigation measures, we recommend that you consult the pages we have dedicated to basic information for the investing client.

Who are our clients?

As stated in article 60.2 of the law on the legal status of participatory financing platforms, both Sponsors and investors will be considered as clients.

Who are our partners?

We rely on the help of several companies when it comes to carrying out our daily work and achieving the pursued excellence. Among others:

GARRIGUES: Legal Advice (Investment Agreements).

ETL: Legal Advice

CORTÉS ABOGADOS: Tax Consultancy

JLL: Valuation Advice

LEMONWAY: Payment Gateway

CONFIANZA ONLINE: Seal distinguishing us for our commitment to best practices Online

FINTECH & INSURTECH: Member of the Fintech and Insurtech Association in Spain.

ADIGITAL: Association of companies representing the digital economy in Spain

How to contact us?

You can contact us by filling out the following form:

Contact form

Email address: info@wecity.io

Phone number: +34 679 667 623

What is crowdfunding?

Crowdfunding comes from the union of the words crowd, in English collective or group, and funding, in English to finance. Therefore, the most accurate translation would be collective or collaborative investment, i.e., many small investors grouping together to launch a project, in our case, a real estate project.

Crowdfunding platforms, such as wecity, are companies authorised by the National Securities Market Commission (CMNV) and dedicated to bringing together a group of individuals or legal entities that offer financing for a specific project in exchange for returns, with individuals or legal entities that request financing to develop a project. These companies are professionally dedicated to this purpose and do it through websites or other electronic channels.

If you want to know how real estate crowdfunding works, click here.

What is crowdequity?

Crowdequity is an alternative financing method in which investors participate directly in the share capital of the company developing the project with a monetary contribution that is accounted for as a capital increase in the company.

In the case of the real estate sector, the Sponsor presents a specific project and investors provide the funds so that the project can be developed in exchange for shareholding and a right to dividends.

What is crowdlending?

Crowdlending is a form of alternative financing (with private capital) in which investors lend capital to the promoter and in return the promoter will return the borrowed capital plus fixed or variable interest depending on the chosen method and in the determined terms (monthly, quarterly or at maturity as agreed). See the differences between fixed and variable interest rates here

This type of loan is usually linked to guarantees from the developer to mitigate the risk.

What are the differences between crowdequity and crowdlending?

The main difference between crowdequity and crowdlending is the way in which investors participate in the project. In this sense, while in crowdequity the investors are part of the company's shareholding and therefore have the right to dividends, crowdlending is based on a loan to the Sponsor and the investors receive the previously agreed interest, either at a variable or a fixed rate.

Right to decide: In crowdequity, investors participate in the decision-making process through the Annual General Meeting. In crowdfunding, investors accept the conditions and the destination of the loan beforehand and have no decision-making power.

In addition, there is a very important aspect that differentiates the two options: tax benefits. While crowdequity implies a tax credit based on the amount contributed in capital from 5% of the total, in crowdlending there is no such credit.

Who are the investors?

According to current legislation, “investors are a number of individuals or legal entities that offer financing in exchange for a monetary return and may be both accredited and non-accredited."

This differentiation sets the limits for wecity users. If you are a non-accredited investor, you have an investment limit of 3,000 euros per project and 10,000 euros (including other participatory financing platforms); while if you are an accredited investor, you have no investment limit.

If you want to know the advantages of being an accredited investor, click here.

If you have not signed up yet and want to become an investor in wecity, you can do so here.

Who are the Sponsors?

According to the law, we refer as Sponsors to those "individuals or legal entities that request financing in their own name to allocate it to a participatory financing project".

If you want to be a Sponsor in wecity and enjoy our technological and financing advantages, please contact us. Click here to access the “Sponsor” section.

What are the opportunities?

Opportunities" is how we refer to the set of real estate projects in which you can invest.

According to legislation, "an opportunity is synonymous with a crowdfunding project. The project must contain a concise description in non-technical language so that the average investor can judge the project's financing decision on an informed basis".

See wecity opportunities here.

What investment modalities and types of investment are there?

In wecity we work with the equity or capital increase modality, in other words, with projects in which investors become part of the share capital of the company leading the project as partners. The amount of shares each investor has depends on the amount of money invested.

In wecity you can invest in two types of opportunities: rental income and capital gain.

Rental: Buy+ rent + sell

Projects in which the main objective is to generate rental income focus on the purchase of properties in order to renovate them and rent them (either for traditional or holiday renting). This way, investors will periodically receive the profits obtained through this rental. In addition, the properties are generally sold at the end of the project's life, offering a final capital gain.

Capital gain: Buy+ renovate + sell

Opportunities that focus on purchase and subsequent renovation (to increase the value) followed by the property sale.

Who can be a Sponsor?

According to Article 57 of the Legal Framework for crowdfunding platforms, in order to be a Sponsor "one must be duly constituted in Spain or in another Member State of the European Union. In the case of natural individuals, their fiscal residence must be in Spain or in another Member State of the European Union".  

 

"It will be mandatory to provide:

a) Description of the company, its corporate bodies and business plan.

b) Identity and curriculum vitae of the administrators and directors.

c) Company name, registered office, Internet domain address and issuer's registration number.

(d) form of corporate organisation

(e) number of employees

(f) description of the financial situation

(g) share capital structure and debt situation.”

 

Additionally, "The Sponsors or partners of the Sponsor entity, the administrator of the Sponsor or the members of its Board of Directors may not be disqualified in accordance with the provisions of Law 22/2003, of 9 July, on Bankruptcy, or equivalent regulations of other Member States of the European Union, nor may they be serving a sentence for committing crimes or offences against property, money laundering, socioeconomic order, the Public Treasury or the Social Security".

 

If you have any questions, do not hesitate to contact us here.

How does wecity choose the Sponsors?

The Sponsors wecity works with are companies with extensive and demonstrated experience and reputation in the real estate sector. In all cases, projects that are listed on the wecity platform have been verified and comply with the rules established in the investor protection system.

All Sponsors who publish projects on our platform comply with the standards set forth by the scoring system we conduct. In this sense, we carry out an objective and impartial analysis of the main criteria for each company and each project. To do so, we analyse in depth the economic situation of the Sponsor at the time of launching the project, which is also analysed from all points of view. 

Sponsors are an essential part of the day-to-day running of wecity, so any company in the sector that wants to offer its projects through our platform can apply for it in the Sponsors section in our website. 

In any case, in wecity all Sponsors who contact us are thoroughly analysed before they can access the platform. 

If you are a Sponsor and wish to contact wecity, click here.

How does wecity identify the opportunities?

wecity carries out an in-depth analysis of all the real estate projects (opportunities) presented by Sponsors to ensure that they are suitable for the selected type of investment and the desired returns. All projects that meet the requirements will be published on the platform so that investors can invest.

Wecity experts will rely, if necessary, on external companies (partners) to carry out a study of each project in order to have an objective assessment of the possible risks.

Are the Sponsors creditworthy?

In order for the Sponsors to be able to publish their opportunities in wecity, it is essential that they provide the following information:

a) Description of the company, its corporate bodies and business plan.
b) Identity and curriculum vitae of the administrators and directors.
c) Company name, registered office, Internet domain address and issuer's registration number.
(d) form of corporate organisation
(e) number of employees
(f) description of the financial situation
(g) share capital structure and debt situation.”

Additionally, "The Sponsors or partners of the Sponsor entity, the administrator of the Sponsor or the members of its Board of Directors may not be disqualified in accordance with the provisions of Law 22/2003, of 9 July, on Bankruptcy, or equivalent regulations of other Member States of the European Union, nor may they be serving a sentence for committing crimes or offences against property, money laundering, socioeconomic order, the Public Treasury or the Social Security".

At the same time, wecity may check the information on the Sponsor, partners or administrators by accessing the different registers considered appropriate, among others:

a) Commercial Registry
b) Property Registry
c) Patent and Trademark Registry
d) Unpaid debts records

I am a Sponsor. How do I contact wecity?

You can contact us filling in the form that you will find in the Sponsors section.

You can also contact us by e-mail at sponsor@wecity.io or by telephone on +34 679 667 623.

I am a Sponsor. What information does wecity need to finance an opportunity?

wecity requests the information set out in Article 78 of the law, which includes:

a) Description of the company, its corporate bodies and business plan.

b) Identity and curriculum vitae of the administrators and directors.

c) Company name, registered office, Internet domain address and issuer's registration number.

(d) form of corporate organisation

(e) number of employees

(f) description of the financial situation

(g) share capital structure and debt situation.

Additionally, wecity may request any supplementary information that it deems appropriate to meet its excellence standards.

I am a Sponsor. What are my fees?

You can check our fees at the following link: Fees

Is it free to create an account in wecity?

Having a wecity account is completely free. If you have not registered yet, you can do it now clicking here

Who can sign up as an investor in wecity?

All investors, ("individuals or legal entities that offer financing in exchange for a monetary return"), are welcome in wecity.

If you have not signed up yet, you can do it now by clicking on this link: Sign up

Learn more about the advantages of being an investor here

How do I sign up in wecity?

Signing up in wecity is very simple and you can do it in less than a minute. All you have to do is click on "Sign up" and enter the required information

If you have any questions during the process, do not hesitate to contact us at soporte@wecity.io

Am I an accredited or non-accredited investor?

The difference between accredited and non-accredited investors is that accredited investors have no investment limits, while non-accredited investors can only invest 3,000 euros in a specific project and a maximum of 10,000 euros per year (including all alternative financing platforms).

 

Learn about more advantages of being accredited here.

How can I become an accredited investor?

Initially, all investors who register in wecity are considered non-accredited investors. In order to become an accredited investor, all you have to do is log into your control panel and click on the "become accredited" box located in the upper right hand corner of the screen. Or you can also go to the "advantages of becoming an accredited investor" page and apply to become an accredited investor.

If you are not registered yet and wish to do so:

Access wecity's Sign up

Once registered, go to Log in and click on the link "Advantages of being accredited"

You will have to meet the requirements that you can find on the page advantages of being accredited and that we have listed here:

Being a natural person and meeting the following conditions:
Having an annual income of more than 50,000 euros or financial assets of more than 100,000 euros.

Having previously requested to be considered an accredited investor and have expressly waived the right to be treated as a non-accredited client.

I am an individual. What is the process for investment?

In order to invest, you must first register in wecity.

You must start by clicking on Sign up

Sign up: Select the "Individual" option, fill in your personal data, accept the Terms and Conditions and the Privacy Policy and click on "Create account".

My profile: Next, log in to your user account and go to "My Profile" where you must fill in the following sections:
My Personal Data + Residence + Other Data + Legal Documentation, where you must attach:

If you are a tax resident in Spain you must attach your National Id. Card (DNI - photo, PDF or similar), both sides and in colour.

If you are a foreign tax resident in Spain, in addition to your identification document, you must also attach your Foreigner's Identity Number (NIE).

If you are a tax resident in any other country you must attach an identification document or passport.

If you are a non-EU citizen, you will need to provide a second identity document.

 

We activate your account: Once you have filled in all the information you will undergo an information verification process that can take up to 48 hours and about which you will be promptly informed.

You can invest: Once your information has been verified, you will be able to make your first investment.
If you have any problem sending us the information, you can also send it to us at soporte@wecity.io

I am a legal entity. What is the process for investment?

In order to register in wecity you must complete the following steps:

You must start by clicking on Sign up

Sign up: Select the "company" option, fill in the company’s representative personal data, accept the Terms and Conditions and the Privacy Policy and click on "Create account".
Once inside the platform, you will directly access "My Profile" in your user account, where you will have to fill in the following sections:

"My Profile", where you must fill in the following sections:
Personal Data of the Legal Representative of the Company + Residence of the Legal Representative of the Company + Other data + Legal Documentation of the Legal Representative of the Company + Company Information, where you must attach:

Company's Articles of Association

Company’s Deed of Beneficial Ownership

Company Activity Document (any certificate from the Mercantile Register, a Tax Certificate and any tax payment document, VAT - not older than 3 months - are considered valid).

National ID card of shareholders owning more than 25% of the company's shares.

We activate your account: Once you have filled in all the information you will undergo an information verification process that can take up to 48 hours and about which you will be promptly informed.

You can invest: Once your information has been verified, you will be able to make your first investment.
If you have any problem sending us the information, you can also send it to us at soporte@wecity.io

Why do I have to scan and send my documents? National ID Cards, Passports.

wecity complies with the applicable legislation that requires identifying any person, natural or legal, who registers in its platform and confirming their identity in order to know that this person is the one sending the funds and not someone else.

Therefore, our team must validate your account before you can start investing in wecity projects.

I am having problems uploading my documents. What can I do?

In order for us to validate the documents you send us, they must be easily visible, clear and legible, and not exceed 10MB in weight per document (you can check this by right-clicking on the document and clicking on "Properties" if you are using Windows or "Get info" if you are using an Apple device. Remember that you can send us documents in JPEG, PNG and PDF formats).

If, despite following these instructions, you have problems, you can send them to us by email to soporte@wecity.io

How do I link my bank account?

In order to be able to withdraw funds, you need to link your bank account. Remember that you only need to complete this process once for each account you wish to link.

To link your account you must:

Log in to "My wallet" in your user account.
Click on "Add Bank Account".
Enter the account number with its IBAN and without spaces (For example, ES1000492352982414205416). If the transfer is international you must indicate the BIC/SWIFT code.
Name and address of the bank.
Send all the documents in PDF format and with a weight of less than 10MB containing the information that verifies that you are the account holder. For example, we can use a screenshot of a certificate from your bank or your online account.
Bear in mind that if your bank is online-only, you will have to send a double document.

If, despite following these instructions, you have problems, you can send them to us by email to soporte@wecity.io

Please remember that we validate the documents manually and that it takes between 24 and 48 hours to do so. We will notify you of the validation or if there has been any error in your Private Area.

On the other hand, if you wish to transfer funds to your wecity a

Are there any implications when registering in wecity?

All the funds allocated to wecity opportunities are safely deposited in a segregated account of Banco Sabadell, opened by the Lemon Way Payment Entity, a company registered as a Community Payment Entity operating in Spain by the Bank of Spain. In other words, each investor's money is segregated both from other investors and from wecity. Furthermore, collections and payments on behalf of investors are supervised by a regulated entity that is independent of wecity.

On the other hand, as an investor you have no liability to third parties and the loss is always limited to the invested capital.

How much can I invest?

Each Sponsor specifies the minimum investment in each project.

Keep in mind that the maximum investment for non-accredited investors is 3,000 euros and that there is no limit for those who are accredited. If you want to know the differences between investing without limits and investing with limits, do not hesitate to visit the section: Benefits of being an accredited investor

How can I invest? Steps to take for investing once you have registered

The investment process is easy, quick and secure.

Once you have registered, you must provide the necessary funds to make your investments by bank transfer or credit/debit card payment. You can check the security measures governing your transfers on the section about Investor´s safety

How can I invest if I am a foreigner?

We just need you to complete the registration and investment process and provide a NIE (Identification Number for Foreigners)

How do I deposit money into my account in order to invest?

In order to deposit money, the first thing you need is to be registered. If you are not registered, you have to start by clicking on Sign Up

You can deposit funds in wecity by card payment or bank transfer from an account in your name and as long as it is linked to an opportunity.

To do this, go to the opportunity where you want to invest and click on the "invest" button, from where you can select the payment method (bank transfer or card).

We remind you that it is not possible to deposit cash into the bank account provided in your private area.

NOTE: There is a geographical limitation, and the payment institution (Lemon Way) cannot accept any money movement from or to any of the following countries by the investor. Among others, Afghanistan, Barbados, Belarus, Burma, Bosnia-Herzegovina, Bosnia, Burundi, Korea, Egypt, United Arab Emirates, Ethiopia, USA, Guatemala, Guinea, Guinea-Bissau, Iran, Iraq, Lebanon, Libya, Macau, Mali, Mongolia, Namibia, Panama, Central African Republic, Congo, Russia, Samoa, Somalia, Sudan, Sri Lanka, Syria, Ukraine, Venezuela or Yemen.

Where does my money go?

The capital you deposit in your wecity account is held in a segregated bank account of Banco Sabadell, opened by the Payment Entity Lemon Way, a company registered as a Community Payment Entity operating in Spain by the Bank of Spain.

Lemon Way will provide you with an electronic wallet where you will be able to see the status of your capital at any time. This reduces risk as the funds are kept in a safe place while the investment opportunity reaches its funding target. Once the target is reached, the funds are transferred to the Sponsor for execution. See the Investor´s Safety and Protection section for more information on our security measures.

Where is my money once it is earmarked for an opportunity?

The capital allocated to an opportunity is blocked in your wecity wallet until the financing for the project is completed or the project is rejected. If the target is reached, the money allocated to the opportunity is transferred to the Sponsor's wallet and if the target is not reached, it is returned to your account.

How can I withdraw funds?

Log in to your private area, go to "My wallet" section and click on the "withdraw funds" button.

When will I get my investment back?

The investment is returned when the sale of the property is successfully completed. The period is usually between 12 and 36 months for the "value add" modality.

In the case of a rental-based opportunity, the terms vary more, but the time period is usually around three years. In addition, you will normally receive rental dividends on a monthly basis and a capital gain when the property is sold.

How do I deposit money by bank transfer?

If you want to deposit your capital through a bank transfer, we will send you an email indicating the account number where you should transfer the money and a link to access in order to upload the transfer receipt. Remember that you should not attach the receipt to the email.

Please check that the receipt contains the same information you provided: account holder, IBAN, concept, amount, beneficiary and IBAN of destination.

If the link does not work correctly, you can copy the address and paste it in your web browser. If this does not work either, you must send us the receipt as soon as possible to soporte@wecity.io indicating your name and the name of the opportunity in the CONCEPT field. Please be aware that without this document we will not be able to guarantee your reservation.

How do I deposit money using a credit or debit card?

If you choose to invest via credit card, the investment process will open a payment gateway to enter your credit or debit card details.

What is the payment entity Lemonway and how does it work?

Lemon Way is an external payment entity that safeguards and manages our investors' funds with maximum security. In this regard, the capital contributions are not deposited in a wecity account, but in an account created by you in the payment entity. In addition, each project will have its own account, separated from the others so that whatever happens in one project cannot affect the rest.

Lemonway is a regulated payment entity that is in charge of managing all the fund movements of wecity users, and of most of the crowdfunding entities in Spain.

Remember that your money will be totally segregated from our accounts and under the custody of a regulated entity authorized by the Bank of Spain. LemonWay is a Limited Company with a capital of 1,102,268.08 €, SIREN Number 500486915, with registered office at 14, rue de la Beaune, 93100 Montreuil, France, accredited on 24/12/2012 by the "Autorité de Contrôle Prudentiel et Régulation" ("ACPR", France, 61 rue Taitbou 75009 Paris, as a hybrid Payment Institution, under number 16568 J), and authorized in Spain by the Bank of Spain for the development of its activity as a payment institution without permanent establishment in accordance with applicable regulations.

You can check Lemonway's general terms and conditions of use clicking here.

What kind of investors are there?

There are two types of investments, rental or capital gain (value add), which are detailed below. When you invest in an opportunity, you become the owner of part of the equity in the company set up to acquire and manage the asset.

Rental: Buy+ Rent + Sell

Assets that are managed under a rental strategy will be put on the rental market when they are ready for rental. The rental may be either traditional or through holiday rental platforms.

Each month the profit generated will be distributed after paying the rental management fees. The money will be sent to your wecity account.

Properties managed under this strategy will be sold when the target investment term is met and each investor will receive a proportionate share of the sale.

Capital gain (value add): Buy + Renovate + Sell

In this case, the return will be offered once the asset has been sold.

What is a capital gain investment?

Capital Gain, or Value add, In a nutshell, it is a transaction in which an asset is bought, renovated and sold.

In this case, priority is given to the short-term price increase potential of each property. The strategy focuses on the purchase of properties at below-market prices, in areas with short-term growth projections and high demand.

What is a rental investment?

In a nutshell, it is a transaction in which an asset is bought, renovated, rented and sold.

In this type of strategy, priority is given to the rental potential of each property, although it is also taken into account whether the asset is below market price and if it is in an area that offers rental opportunities.

In this regard, a distinction is made between residential rental, which is intended for traditional or holiday rental, and commercial or industrial rental, which is intended for the longer term.

Can I acquire the 100% of an opportunity?

Yes Remember that you have to be an accredited investor to be able to get the 100% of an opportunity. Sponsors can set minimum and maximum limits.

What am I buying when I invest?

A share of the property. To make it easier, each opportunity sets up a limited company, which is the one that buys the asset and each investor has a percentage (proportional to the investment made) of the shares in this company.

Am I investing through an investment vehicle?

No. Investments through wecity are investments in the real economy and the money is directly invested in the specific opportunity.

The client knows with total transparency the destination of the invested capital and wecity will publish periodical information on the situation of the company.

Does the National Securities Market Commission (CNMV) or the Bank of Spain supervise my investment?

No. Therefore, we recommend that you carry out your own research before investing in any project published on the platform.

How does wecity protect the investor?

There are a series of aspects we verify for all the companies that publish opportunities on our platform:

That the partners or managers of the companies are not disqualified or have any criminal record.

That the companies are not in the ASNEF registry in order to rule out that these companies are not included in any debtors' list.

That the companies applying for funding are creditworthy.

That the companies have high standards of transparency so that investors can assess the risk elements associated with each project.

That the team of professionals that make up the company has a wide experience in this type of projects.

That the project offers the legal security that investors need and protects their interests. wecity has been authorized by the CNMV as a Participatory Financing Platform.

Does wecity guarantee my investments?

No. wecity only connects investors with companies in search of financing.

How are the investments structured?

All the assets will be purchased by a Limited Liability Company (SL) that is set up specifically for each operation and for the exploitation of each property. Investors become partners in this company and therefore owners of a percentage of the share capital equivalent to their investment. When the financing of each project is completed, the investors will join the company through a capital increase.

What are the investment risks?

At wecity, we want you to read about the risks that may be associated with an investment before investing.

How does wecity minimise the risks?

All the opportunities that are listed on our platform have been analysed in depth by the wecity team, which includes financial and real estate experts. On the page dedicated to each opportunity you will find all the information about the project so that you can analyse it and make an appropriate investment decision.

How long does it take for an opportunity to be fully financed?

Each opportunity has a set period of time to obtain financing, although if the demand from investors reaches the required amount of capital, the period can be closed earlier than expected. In the event that the investment requirement is not met, wecity, in accordance with the applicable legislation, may extend the initial deadline by 25%.

Do I have to use the services of a notary public?

No. The investors' entry does not require a notary's signature.

What returns can I expect?

Returns will vary from opportunity to opportunity and are dependent on market conditions. Sponsors can set profitability targets for each project which will be verified by our analysis team. The yield rates of the opportunities published in wecity are not guaranteed. Past returns do not guarantee future returns.

What does "estimated time" in the investment mean?

It is the period of time planned from the beginning of the business plan, once the financing has been received, until the successful completion of the project by the Sponsor (almost always the sale of the property)

What does "estimated yield" on investment mean?

It is the profitability an investor expects to obtain from each investment opportunity, the real return may be higher or lower than the estimated one.

What happens if an opportunity is not 100% financed?

wecity will return 100% of the invested capital, without charging commissions, and will reimburse the upfront provision of funds to the developer that has not been used up to that moment if:

The investment project does not cover at least 90% of the target.
wecity identifies the existence of false, incomplete or outdated data in the investor's registration information available to Wecity at any given time or in the information provided during the registration process of a project.

I have already invested my money. How do I know if my investment has been made or if my money has been received?

Once you have made your investment (either by bank transfer or credit card payment), we will validate your data and when the capital is in the Lemon Way account you will receive a pre-reservation email. If the document is not correct or we have not received it, we will contact you.

Remember that you can always contact us by email at:soporte@wecity.io

When the opportunity fulfils the investment requirement, we will send you an email to let you know if your reservation is fully confirmed, partially confirmed or if you have been left out. In case of overfunding, you will have to wait for another user to cancel a reservation.

In case the investment is made through your available credit or through a validated account, we will send you an email confirming your reservation.

Once we confirm your investment, you will receive the corresponding contract within one week.

I have already invested. When do I receive a dividend payment?

Each opportunity will have its own conditions for divestment and dividend distribution. You can check them in the information provided for each project. Should you have any questions, please do not hesitate to contact our team at soporte@wecity.io

Sponsors are in charge of notifying and returning the funds to the investors. When the funds are received in the investors' bank account, they will automatically be shown in your e-wallet.

I have already invested. When will I receive my investment agreement? Where can I check it?

wecity complies with the applicable legislation which requires us to identify any natural or legal person and to check that it is this person who is sending the funds, and not someone else. This means that our team has to validate your account before we can send you the investment confirmation.

You must bear in mind that in those investment operations made via bank transfers, we have to wait for the funds to arrive at the client's funds account, which entails a wait of between two and seven working days. In addition, if the documents are incorrect or illegible, the time may be extended.

Please note that until your account is validated, we will not be able to confirm your funds reservation.

I have already invested. When does my participation take effect?

When the investment is completed, you will receive the investment agreement. However, it can take up to ninety days between the successful completion of the investment and the investor receiving the legal documents from the Commercial Registry.

I have already invested. Who manages the funds until they are transferred to the platform?

The funds are deposited in a segregated account until the opportunity is successfully completed and they are then transferred to the Sponsor. If the project does not reach its target, the funds are transferred back to the investor's bank account.

When is an opportunity considered closed?

Each investment opportunity has a deadline specified in the previous information. When 100% of the funding is raised, opportunities remain open until 125% of the target capital is reached, which is when the investment is closed. Once closed, it can take up to seven days before the funds are transferred to the designated project.

How can I review my investments?

You can check your investments in your private area under the "MyCity/My Investments" tab.

What returns can I expect on equity opportunities?

Each equity opportunity has a different return which combines the return generated by the rent and the return generated by the increase in the value of the asset, in the Rental opportunities, and the return generated by the increase in the value of the asset in the case of Capital Gain opportunities. In other words, these opportunities offer monthly revenue and a capital gain at the end for the Rental scheme and a capital gain at the end for the Capital Gain (value add) scheme.

How do I receive my earnings?

By means of a deposit in your wecity account. You can check all the movements in the "My wallet" area of your private profile.

When do I receive the dividends?

In capital gain (value add) operations, you will receive your dividends when the property object of the opportunity is sold.

On the other hand, in rental transactions, profits will be distributed according to the Sponsor's business plan, which may be on a monthly, bimonthly, quarterly or half-yearly basis. In addition, dividends will also be distributed when the property is sold.

When do I get back the money I have invested?

When the Sponsor completes the sale of the property.

How can I withdraw my profits?

Once the capital is in your wecity account, you can invest it in new opportunities or withdraw it via the "withdraw funds" button.

To which account are my earnings transferred?

To the bank account you have set up in your profile, which does not have to be the same as the one from which you made the deposit.

Where do I find information about the opportunities I have invested in?

You will find all the investment opportunities in which you have participated in the "My City" section of your private area.

What happens if an opportunity is not 100% financed?

wecity will return 100% of the invested capital, without charging commissions, and will reimburse the upfront provision of funds to the Sponsor that has not been used up to that moment if:

The investment project does not cover at least 90% of the target.

Wecity identifies the existence of false, incomplete or outdated data in the investor's registration information available to Wecity at any given time or in the information provided during the registration process of a project.

What does Overfunding mean?

Overfunding occurs when an opportunity raises more capital than is necessary according to the established target. In these cases, there are two possible solutions:

Partial investment: When part of the investor's contribution goes into the opportunity and another part has been left out (and will be reflected as Available Credit within the Private Area).

Standby/Pending investment: When the investment has not been included in the opportunity and cannot be completed but, if a previous application is rejected, the user is on hold and can enter as an investor in the project.

What is the tax regime in Spain for my investments in wecity?

Investors established in Spain > Individuals > Lending investment

In Spain, investors will have to pay personal income tax on the interest received at progressive rates of 19, 21 and 23 %. In addition, if such interest has any connection with a foreign country, they may also be taxed abroad, in which case, if certain requirements are met, investors may deduct the tax paid abroad from their personal income tax.

Investors established in Spain > Individuals > Equity investment

In Spain, investors will have to pay personal income tax on the dividends received at progressive rates of 19, 21 and 23 %. In addition, if such dividends have any connection with a foreign country, they may also be taxed abroad, in which case, if certain requirements are met, investors may deduct the tax paid abroad from their personal income tax.

Investors established in Spain > Legal entities > Lending investment

In Spain, investors will have to pay corporate income tax on the interest received at a general rate of 25 %. In addition, if such interest has any connection with a foreign country, they may also be taxed abroad, in which case, if certain requirements are met, investors may deduct the tax paid abroad from their corporate income tax

Investors established in Spain > Legal entities > Equity investment

In Spain, investors will have to pay corporate income tax on the dividends received at a general rate of 25 %. However, dividends will be exempt from corporate income tax if certain requirements are met: mainly, a shareholding of more than 5%, uninterrupted ownership during the year prior to the day on which the profit becomes payable and, in the case of shareholdings in entities not resident in the Spanish territory, that the entity has been subject to and not exempt from a foreign tax similar to corporate income tax at a rate of at least 10% in the year in which the profits to be distributed were obtained. In addition, if such dividends have any connection with a foreign country, they may also be taxed abroad, in which case, provided that the dividends are not exempt in Spain and certain requirements are met, investors may deduct the tax paid abroad from their corporate income tax.

 

Investors not established in Spain > Individuals or legal entities without a permanent establishment > Lending investment

Investors will only be taxed in Spain on interest received if it has been obtained from individuals or entities which are residents in the Spanish territory or permanently established in Spain, if it rewards the provision of capital used in Spain or if it derives from economic activities carried out in the Spanish territory without the intermediary of a permanent establishment. If such interest is taxed in Spain, investors will be taxed under the Non-Resident Income Tax at a rate of 19%. However, such interest will be exempt if it is earned by residents of a country within the European Union as long as it is not earned through tax havens. Furthermore, such interest could also be taxed in the investor's State of residence, in which case it will be necessary to analyse whether there is any mechanism to avoid double taxation; specifically, whether Spain has signed a Double Taxation Avoidance Agreement with that other State.

Investors not established in Spain > Individuals or legal entities without a permanent establishment > Equity investment

Investors will only be taxed in Spain on dividends received if the entity from which they are derived is resident in Spain or if they derive from economic activities carried out in the Spanish territory without the intermediation of a permanent establishment. If such dividends are taxed in Spain, investors will be taxed under the Non-Resident Income Tax at a rate of 19%. However, such dividends will be exempt if they are distributed by subsidiaries resident in the Spanish territory to their parent companies resident in other Member States of the European Union or to the permanent establishments of the latter located in other Member States. Furthermore, such interest could also be taxed in the investor's State of residence, in which case it will be necessary to analyse whether there is any mechanism to avoid double taxation; specifically, whether Spain has signed a Double Taxation Avoidance Agreement with that other State.

Investors not established in Spain > Individuals or legal entities with a permanent establishment > Lending investment

Investors will only be taxed in Spain on interest received if it has been obtained from individuals or entities which are residents in the Spanish territory or permanently established in Spain, if it rewards the provision of capital used in Spain or if it derives from economic activities carried out through a permanent establishment. If such interest is taxed in Spain, investors will be taxed under the Non-Resident Income Tax at a general rate of 25 %. Furthermore, such interest could also be taxed in the investor's State of residence, in which case it will be necessary to analyse whether there is any mechanism to avoid double taxation; specifically, whether Spain has signed a Double Taxation Avoidance Agreement with that other State.

Investors not established in Spain > Individuals or legal entities with a permanent establishment > Equity investment

Investors will only be taxed in Spain on dividends received if the entity from which they are derived is resident in Spain or if they derive from economic activities carried out in the Spanish territory through a permanent establishment. If such dividends are taxed in Spain, investors will be taxed under the Non-Resident Income Tax at a general rate of 25 %. However, such dividends will be exempt if certain requirements for the application of the exemption to avoid double taxation of dividends are met: mainly, a shareholding of more than 5%, uninterrupted ownership during the year prior to the day on which the profit becomes payable and, in the case of shareholdings in entities not resident in the Spanish territory, that the entity has been subject to and not exempt from a foreign tax of an identical or analogous nature to corporate income tax at a nominal rate of at least 10 % in the financial year in which the profits to be distributed were obtained. Additionally, such dividends will also be exempt if they are distributed by subsidiaries resident in the Spanish territory to their parent companies resident in other Member States of the European Union or to the permanent establishments of the latter located in other Member States. Furthermore, such dividends could also be taxed in the investor's State of residence, in which case it will be necessary to analyse whether there is any mechanism to avoid double taxation; specifically, whether Spain has signed a Double Taxation Avoidance Agreement with that other State.

What revenues are subject to withholding tax in Spain and at what rate?

In general, interest and dividends taxed in Spain will be subject to withholding tax provided that the Sponsor is an individual resident in Spain carrying out economic activities, an entity resident in Spain or an entity or individual operating in Spain through a permanent establishment. The withholding rate will be 19%.

Who must, in Spain, comply the withholding obligations?

In general, the person responsible for withholding tax on interest or dividends subject to taxation in Spain and paying the amount to the Spanish Treasury will be the Sponsor, provided that the latter is an individual resident in Spain carrying out economic activities, an entity resident in Spain or an entity or individual operating in Spain through a permanent establishment.

Is my wecity account free?

Yes It is totally free

What is my wecity account?

It is the private area where I will find my private data, the investments I have made and in which projects, my money movements (earnings, rental income, capital gains, etc.) and the tax data applicable to each investment (withholdings, etc.).

What will I find in my wecity account?

My profile:

Personal Data + Residence Data + Legal Documents (both personal and company if applicable).

My Investments | my city:

This is the investment portfolio where I will be able to find the details for each investment and the investment agreements.

My wallet:

This is the area where you can find all your money movements. These are the capital inflows and outflows.

Tax information:

Here you can find all the documents related to your investments: Investment Agreements and Annual Withholdings.

What are the implications?

None. Opening an account in wecity does not imply anything and it is free of charge.

How do I deposit funds into my account?

By bank transfer or credit card payment.

Can I deposit the money in cash?

No

Where can I find my investment agreements?

In the area "My Investments | my city".

How do I retrieve my password?

Go to Login and click on "I forgot my password".

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