Before you buy a property in Spain, make sure you can live in it.
Before you buy a property in Spain, make sure you can live in it. The law is clear regarding foreign nationals like US Citizens:
Your total stay in the Schengen area must be no more than 90 days in every 180 days. It does not matter how many countries you visit. The 180-day period keeps ‘rolling’.
Spain’s residence by investment program, also known as the Spain golden visa, allows foreign nationals to make a significant investment in the country and apply for an investor visa. Successful applicants and their families are granted visa-free access across Europe’s Schengen Area.
As it has been the case for some time now, Mallorca is increasingly becoming the focus of international buyers and investors. A GOLDEN VISA is needed to enable long-term stays on the island.
WHAT ARE THE ADVANTAGES OF A GOLDEN VISA?
The Golden Visa residence plan gives a property buyer, their spouse, children under 18, and dependent children the right to live and work in the country. It also allows free movement throughout the Schengen area. It is possible to apply for a permanent Spanish residence permit after 5 years and Spanish citizenship after 10 years.
Although GOLDEN VISA concepts are also offered in other European countries, Spain has established itself as the most important European destination for the Golden VISA investment. This is a residence plan that can be achieved through a property investment of €500,000 minimum.
Countries such as the USA, China, Russia, and Latin America have contributed to the annual investment in this residence plan reaching almost €1 billion. This upward trend is favored by Spain’s financial and economic stability and its high quality of life. The Spanish economy and real estate market continue to show strong economic growth, contrary to trends in other regions of the world. A steep increase in foreign investment is driven by a steadily growing real estate market, especially in areas such as Madrid and Palma, where the purchase of property with the intention of renting it out guarantees a good return.
Book an appointment now to see which properties qualify for a Golden visa program.
