Golden Visa Spain for Non-Eu Citizens
Golden Visa Spain for Non-Eu Citizens
The Spanish Golden Visa or its official title ‘Lay de Apoyo a los Emprendedores y su Internacionalizacíon’ (‘Law in support of Entrepreneurs and their Internalisation’) is a property visa that grants the non-EU investor and their family (spouse, partner or children under 18), residency in Spain, in return for investing a minimum of 500,000 EUR into a real estate property purchase.
This Spanish property visa offers the right to live and work in Spain and enjoy visa-free travel to Spain as well as all of the other 26 countries within the Schengen Visa area of the European Union for 90 days out of every 180, meaning no further visa applications for travel through Europe are required. It has an easy and fast application process and a very high probability of success in obtaining it.
As well as these advantages, trading within Europe under the Golden Visa Spain also offers taxation benefits and the ability to invest and trade in countries with stable political and economic advantages, strong infrastructure as well as the single currency market. This leads to stable prices, a greater consumer choice as well as integrated financial markets. Europe is a safe haven for investment with clear established laws and taxation rules, democratically elected governments and a stable low inflation currency. Its greater competition in services is beneficial to both businesses and consumers. Trade barriers have been removed along with anti-competitive practices such as monopolies and cartels and business costs are reduced which lead to greater business efficiency.
The Golden Visa Spain can be renewed every two years. After five years it is possible to gain permanent residency in Spain and citizenship in Spain after 10 years. It is not necessary for you and your family to live in Spain in order to retain and renew the property visa and there is no requirement to spend more than 183 days per year here, in fact, you can come and go as little as you please. If you do however, decide to move yourself and your family to Majorca permanently, there are other benefits, such as access to a European education, (Spain is renowned for having some of the best international schools in all of Europe) as well as future European job prospects for your children.
Spain’s economy is currently the fastest growing in the EU beyond many forecasters’ expectations and Mallorca has become a prime location for investment into the property visa as it’s healthy market leads to significant capital gains for real estate, particularly luxury real estate. Its health care is world class and Spain offers fantastic lifestyle benefits including 300 days of sunshine per year, a healthy Mediterranean outdoor based life, award-winning gastronomy and exquisite architecture, a rich history and of course, its many beautiful white sands, charming little coves, long beaches and azure blue crystalline waters. Its communication links include international airports, the fast-speed AVE trains as well as well maintained road and rail links, enabling efficient travel throughout the Schengen Area and many global destinations. All of these advantages and benefits are yours through the Golden Visa Spain.
Whether you choose to invest in a stone built finca with land, a contemporary apartment or a large luxury villa with sea views, there is much property for sale in Mallorca that can qualify you for the Spanish Golden Visa and all the benefits one can take advantage of, being able to freely live and trade within Europe.
If you are interested in investing into Balearic property in Mallorca and applying for the Golden Visa Spain, take a look at the following pages. Mallorca Co have put together all of the information you will need to help you with your application process, right through to finding your perfect property visa real estate investment in Mallorca.
Requirements and Key Benefits of the Golden Visa Spain
To qualify for the Golden Visa Spain through Balearic property investment, you must meet the following conditions :
- Be a non-EU citizen, not already living in Spain on a regular basis.
- Invest an unencumbered minimum of 500,000 EUR (+ taxes) into property. This amount can not include a loan or mortgage.
- To have never been refused entry into Spain and any of the other Schengen countries.
- Be over 18 years of age.
- Be without criminal record in Spain, country of birth the countries you have resided in over the last 5 years.
- Have sufficient financial means by which to support yourself and your family during your residency. There is no fixed amount per say as Spain has the IPREM (public income index) which measures financial resources.
- Be the holder of a bank account in Spain to which must be transferred the amount for the applicant and another for each member of his/her family, as well as 100% of the IPREM .
- You must obtain an NIE (your tax identification number).
- Be able to show certificate of ‘ownership, charges and encumbrances’ from the Property Registry Office.
- Have a Spanish medical insurance card linked to a policy with an insurance company authorised to operate in Spain.
- Have requested a residency permit form
- Have paid the visa processing fee.
The Golden Visa Spain allows you to benefit from the following :
- Spanish residency and the right for you, your spouse, partner and children under 18 to live, work and be educated in Spain.
- The freedom of not being required to spend at least 183 days per year in Spain.
- The ability to trade within Europe’s single currency market and its stable political and economic advantages.
- Free movement without restrictions in and out of Spain and all 26 Schengen countries.
- Spanish residency after 5 years and Spanish citizenship (with passport) after 10 years providing that you haven’t sold your investment property and still meet all of the requirements.
- Certain tax reliefs and benefits including avoiding Fiscal Residence if you reside in Spain less than 183 days per year and not having to declare your worldwide assets.
- To invest in the growing Spanish property market, making potential capital gains in the process.
- Access to Spain’s world class healthcare system.