Would you like to reside in Mallorca with a residence and work permit while making your investment? The Golden Visa is one of the easiest and fastest ways to obtain residence in Spain for non-EU citizens and, now also, for British citizens who, after Brexit, have ceased to have benefits of mobility and have ceased to stay within the European Union.
If you are thinking of buying a property in Mallorca worth more than half a million euros, or if you already bought it after 2014, you have the possibility of living and working in Spain, without having to visit the country more than one Once a year.
From Pollentia Properties, a real estate in Pollensa, we explain what it is, how to obtain the Golden Visa and everything you need to know about this investor visa in Spain.
Pollentia Properties, your real estate in Pollensa, explain you what it is, how to obtain the Golden Visa and everything you need to know about this investor visa in Spain.
If you are a non-EU investor and you wish to set up an investment project and at the same time reside on this wonderful island, it will interest you to be aware of the requisites for acquiring this type of special residency. This is a document for all non-EU citizens who wish to obtain residency in Spain and who intend to make, or have already made, a significant investment in Spain. The requisites are as follows:
- Non-EU citizen
- Over 18 (legally adults in Spain)
- No criminal record, neither in Spain or in the country of residence in the last 5 years
- Have medical insurance in Spain
- Possess and be able to demonstrate sufficient financial funds to support both main investor and their family.
- Make the corresponding investment and have the documentation to prove it.
This Visa has many advantages because it allows you to work and live legally in Spain and you will only have to visit the country once a year by law. This system guarantees you total freedom of movement in the Schengen area.
When you obtain your residency permit you can apply for the same for your spouse and children simultaneously and, what is more important, it will not be necessary to do this from Spain.
In order to obtain the Golden Visa in Mallorca you have to acquire one or more properties for a total value of 500.000 euros minimum on the island. To this amount you have to add Notary, Land Register, taxes costs which have to be paid in cash. In any case, you can apply for a mortgage to cover the cost of the purchase. After making your investment, you can rent the property out but if you sell it on at any time during the next five years, your Visa will not be renewed unless you invest another 500.000 euros minimum.
It is also possible to apply for the Golden Visa if you bought your property after 2014, the year this law came into effect and provided that you are still the owner of the property.
Provided that the investment is maintained, the validity of the Golden Visa will be for two years renewable for periods of five years. After the first 10 years pf legal residency in Spain, the investor will be able to obtain nationality. Pollentia Properties, the Estate Agency in Pollensa recommend that you hire the services of professionals in the field such as our investment service 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!