The Golden Visa – Your Access to Europe
by Leigh Morgan
Post Brexit, you may be wondering whether the the process of buying your property in Mallorca will become more complicated, if possible at all. Guiding you to your perfect property on the island remains our area of expertise. Now as Non-EU residents, British Nationals can apply for Spain’s Golden Visa when they purchase property in Mallorca and gain visa free access to Europe and the Schengen zone.
In 2013, Spain set up it’s Golden Visa Scheme to enable Non-EU Residents the ability to access EU benefits through one of three ways. The most popular and easiest route being Property Purchase. Golden Visa’s have existed in many countries long before the introduction in Spain who now lead the way, supplying the most Golden Visas in Europe.
A Golden Visa enables you and your family to live and work in Europe (Mallorca) as it gives you Spanish residency yet not requiring you to live in Spain full time or become a tax resident as with the standard residency process.
Some of the benefits include:
- Fast and Efficient. The Golden visa application is specifically designed to attract investment into Spain and so the process is much more streamlined.
- Travel Europe visa-free. You can travel without a visa for 90 days out of every 180 days within the Schengen Area.
- Includes Your Family. You can apply for your dependants – children and/or dependant parents giving you all Two years Residency Permit which can be renewed for a further 5 years. It also allows you to work in Spain and for your children to study in Europe (under 18).
- No need to Live in Spain or Become a Tax resident. You only have to visit Spain once to get or renew the Residency Permit. There is no minimum stay requirement, and you don’t have to become a tax resident or actually live in Spain.
There are some basic requirements that you will need to meet as a non EU resident applying for the Golden Visa such as access to Private Medical insurance. We can secure competitive rates for our clients through the insurance companies we use so you know they’re going to give you the cover you need.
You may have read stories in the press about potential buyers now having to have a criminal record check before purchasing property in Spain. This rule has been in place since Franco’s time and is nothing new. The only difference is that it’s come back into the headlines as a Post Brexit story.
In order to be eligible for the Golden Visa through property purchase, you need to purchase a property for at least €500,000. An easy way to gain massive benefits. This investment does need to be mortgage free although if your property is more than €500,000 you can mortgage the amount above this figure. The main point to remember is that the initial €500,000 investment is free of charges.
Morgan and Morgan are well versed with property purchase and the processes involved including obtaining the Golden Visa. We will take the process forward on your behalf so you can focus on enjoying your new home in Mallorca. Contact us for more information.
Want to read more about Mallorca?
In North Mallorca, The Campanet Valley emerges as a hidden treasure. In North Mallorca, The Campanet Valley emerges as a hidden treasure, tempting travellers to explore its rich history, pristine landscapes and the promise of wellness that lies beneath its...
All you need to know about financing in Spain for foreigners.Lionsgate Capital are the leading mortgage experts in the Balearics specialised in non-resident buyers. Their multilingual team based in Palma will assess you with a wealth of experience and knowledge...
Morgan and Morgan Mallorca
Morgan and Morgan Mallorca is trading name of
Morgan and Morgan Mallorca Ltd.
Regsitered Address: London (Strand) Office, 7 Bell Yard, London, WC2A 2JR
Company registration: 08525926 | VAT No: GB174841488
Our sales and developments are operated through -
Morgan Morgan Mallorca SL.
Registered Address: Carrer Roser Vell 5 07460 Pollença, Illes Balears
Company registration NIF B16628042.
© 2013 morgan-morgan.co.uk
Mallorca accommodations with Emerald Stay