Would you like to settle down in Mallorca with a residence and work permit whilst you carry out your investment? The Golden Visa allows non-eu citizens, outside of the borders of the European Union gain this certificate so that they may carry out a successful operation in this unique enclave that is our island. At Pollentia Properties, real estate agency in Pollensa, we will be explaining what it is and how to get a Golden Visa.
If you are a non-EU investor and you want to set up your investment project in Mallorca whilst living on this marvellous island, it is worth knowing the requirements for making the most of a Golden Visa. All adult prospective buyers, who find themselves regularly in Spain, have no criminal record from the last five years and have health insurance, public or private by an insurer authorized to operate in Spain will exceed the first requirements. Having enough economic resources to thrive and support your family, as well as paying the processing fees of the authorization or visa will also be necessary to subscribe to this permit.
How do you get a Golden Visa in Mallorca? In order to do this one must acquire one or more property goods with a total value of at least 500,000 euros on the island. In addition to these costs expenses must be paid for notary, land register entry and taxes, also one must hold the exact same amount in cash. In either case, you can close a mortgage to come to the above total amount of real estate business. After the investment, the property can be leased, but its resale within the first five years will result in the loss of the renewal permit, unless the investor re-invests the minimum amount of 500,000 euros.
With the condition that the investment is maintained, the validity of the license Golden Visa will be extended to two years and renewable every five years. After 5 years of being a resident in Mallorca or any part of Spain it is possible to apply for a long term permit and the possibility of changing to another country within the European Union. This visa permit allows you to move within the “Schengen” area for a maximum period of 90 days. At Pollentia Properties, real estate agency in Pollensa we recommend retaining the services of a professional in this sector, our investment services team in Mallorca.
At Pollentia Properties, real estate agency in Pollensa, we recommend making the most of visas such as the Golden Visa in order to access the facilities of the European Union in order to invest in Mallorca if you are a non-European investor. At our real estate agency in Pollensa we would be more than happy to help you with any query you may have. Contact us!
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