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The Golden Visa in Mallorca: Open Door to Residency and Investment Opportunities


Ventajas de la golden visa en Mallorca

The Golden Visa, a legal instrument that grants residency in Spain to non-EU citizens, has become an attractive and effective way for those who wish to settle in the Iberian country. After Brexit, this option has also been extended to British citizens who have lost the benefits of mobility and stay in the European Union. Focused mainly on real estate investments, this visa offers numerous advantages that make it an outstanding choice.

Below, we explore everything you need to know about the Golden Visa in Spain:


What is the Golden Visa?

The Golden Visa is a special residency modality designed for non-EU citizens who wish to obtain Spanish residency by making a substantial investment in the country. The acquisition of real estate is one of the most common ways to meet the investment requirements.


Advantages of the Golden Visa:

  • Possibility to live and work legally in Spain.

  • Requires only one annual visit to the country.

  • Provides freedom of movement within the Schengen zone.

  • Allows the principal investor to include his/her spouse and children in the application.

  • It is not necessary for the applicant to be physically present in Spain to submit the application.

Duration of the Residence Permit:

The Golden Visa has an initial duration of two years, renewable for five-year periods. After 10 years of legal residence in Spain, the holder may apply for Spanish nationality.


Can both spouses apply if they are joint owners?

It is essential that the applicant has invested more than 500,000 euros in a property. In case of acquiring the property together with another person, the value is divided according to the percentage of ownership of each.


Eligibility Requirements:

  • Not being a citizen of an EU country.

  • Be of legal age (+18 in Spain).

  • No criminal record in Spain and in the country of residence for the last 5 years.

  • Have health care covered in Spain.

  • Demonstrate sufficient financial means to support the investor and his/her family.

  • Make the required investment and provide the corresponding documentation.

Is it possible to finance the investment with a bank loan?

The minimum amount required (500,000 euros) must be delivered free of charges and taxes. However, it is feasible to apply for a mortgage for the portion exceeding this limit.


Can Multiple Properties be Purchased to Meet the Minimum Requirement?

Yes, as long as the total investment, including all assets, reaches a minimum of EUR 500,000.


Can you apply for the Golden Visa if you purchased the property in previous years?

Yes, as long as the property was acquired after 2014, when the Golden Visa regulation came into force, and the applicant is still the current owner.


Fuente : ILLESLEX

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