Holder best Golden Visa Spain 2023 to live in Mallorca
Golden Visa residency for non EU Citizens
Spain is a country of rich history, culture, and stunning landscapes, making it one of the most popular destinations for tourists from all over the world. However, what many people don't know is that Spain offers more than just a vacation hotspot. It offers the opportunity for non-European Union citizens to obtain a Golden Visa, which provides a gateway to residency in Spain and the rest of Europe. One of the most coveted destinations for Golden Visa holders is the beautiful island of Mallorca, located in the Mediterranean Sea. In this article, we will explore why Mallorca is the perfect destination for Golden Visa Spain holders in 2023.
On 29th of September of 2013 came into effect in Spain the Law 14/2013 of Support of Investors and their Internationalization, which will facilitate and accelerate the entry and residence in our country due to the granting of visas and residence permits valid throughout the national territory for foreigners, who do not belong to the European Union and are not beneficiaries of the rights of free circulation and residence and acquire a property in Spain. This is valid for natural and legal persons.
The visa are issued by Diplomatic Missions and Consular Offices of the country of origin or residence, meanwhile the authorizations of residence are carried out in the Federation of Large Entities and issued by the General Migration Office. The necessary handlings can be carried out by a representative.
The spouse and children under 18 years, or of full age and evidently unable to make their living due to their state of health, who meet or accompany the buyer, can jointly and simultaneously or later apply for the visa and the authorization of residence.
What is a Golden Visa?
A Golden Visa is a residency-by-investment program that offers non-European Union citizens the opportunity to obtain residency in Spain and the rest of Europe. The program requires a minimum investment of 500,000 euros in Spanish real estate or a minimum of 1 million euros in Spanish government bonds, stocks, or deposits. The visa provides a pathway to permanent residency and citizenship after a certain period of time.
Investment: purchase of a property
The acquisition of a rural or urban property in Spain after September 29th of this year for an amount of 500.000 Euros or more is understood as a significant capital investment and the reason why for them the delivery process of visa or residences is simplified. It is possible to purchase more than one property, but one of the mentioned value is sufficient (considered as luxury scale). The object has to be free of charges (except for the part exceeding 500.000 Euros).
The amount of 500.000 Euros is to be understood excluding all taxes so that the purchase of the property cannot consist for example in the investment of a value of 450.000 Euros + VAT.
As estate properties are valid the following: Business premises, industrial warehouses, garages, store rooms, flats, houses, etc.
In the case of an acquisition by two persons, if the value is of 500.000 Euros, only one of the co-owners is enabled to choose this privileged way of obtaining the visa and residence permit, whereas if the value is of 1.000.000 Euros, both can be beneficiaries.
The applicant must prove that the purchase has been carried out in the minimum required amount, in a period not exceeding 60 days preceding the presentation of the application. This means, that the applicant must prove that he bought as a maximum 2 months before the presentation. For practical purposes, if he applies on December 5th, the property must have been purchased, as latest on October, 5th. If he purchased on July, 5th and applies on December, 5th, it is invalid.
The ownership of the property has to be proved by a certificate of property ownership and encumbrances certified by the land registry as well as presentation of the Public Deed of the purchase of the housing.
If in the moment of the application of the visa, the inscription in the land registry is not yet completed, the presentation of a certified copy of the public deed and a certification evidencing the payment of the taxes is sufficient.
Requirements For Golden Visa
To apply for a Golden Visa in Spain, there are certain requirements that must be met. Here are the key requirements:
- Non-European Union Citizen: The Golden Visa program is only available to non-European Union citizens. Citizens of EU countries, Iceland, Norway, Liechtenstein, and Switzerland are not eligible.
- Minimum Investment: As mentioned earlier, a minimum investment of 500,000 euros in Spanish real estate or a minimum of 1 million euros in Spanish government bonds, stocks, or deposits is required to apply for a Golden Visa.
- Clean Criminal Record: Applicants must have a clean criminal record in Spain and their home country.
- Health Insurance: Applicants must have private health insurance in Spain.
- Proof of Funds: Applicants must prove they have sufficient funds to support themselves and any dependents while in Spain.
- Visa Application: Applicants must complete the visa application process at a Spanish consulate or embassy in their home country.
- Residency Permit: Once the Golden Visa is approved, applicants must apply for a residency permit in Spain within three months.
- Residency Renewal: The residency permit must be renewed every two years.
In any case the applicant must fulfill all the tax and social security obligations as well as the prevention of money laundering and financing of terrorism.
Why Mallorca is the Perfect Destination for Golden Visa Spain Holders?
Mallorca is the largest of the Balearic Islands and is one of the most popular destinations in Spain, known for its stunning beaches, crystal-clear waters, and beautiful scenery. It has long been a favorite vacation spot for many people, but it is now attracting a new type of visitor: Golden Visa Spain holders. Here are some reasons why Mallorca is the perfect destination for Golden Visa Spain holders in 2023:
High Quality of Life: Mallorca offers a high quality of life, with excellent healthcare, education, and infrastructure. It is a safe and peaceful island with a low crime rate, making it an ideal place to raise a family or retire.
Beautiful Scenery: The island of Mallorca is home to stunning scenery, including rugged mountain ranges, idyllic countryside, and beautiful beaches. The island also has a rich history and culture, with charming towns and villages that are full of character.
Mediterranean Climate: Mallorca enjoys a Mediterranean climate, with warm summers and mild winters. The island is blessed with over 300 days of sunshine a year, making it the perfect destination for those seeking a year-round outdoor lifestyle.
Excellent Connectivity: Mallorca has excellent connectivity, with daily flights to and from major cities across Europe. The island is also well-connected by ferry to other destinations in Spain and the rest of Europe.
Vibrant Expat Community: Mallorca has a vibrant expat community, with many nationalities represented. The island has a cosmopolitan feel, with a wide range of restaurants, bars, and cultural events catering to all tastes.
Why Choose Mallorca for your Golden Visa Spain?
Mallorca has long been a favorite destination for tourists from around the world, but it is now attracting a new type of visitor: Golden Visa Spain holders. The island offers an excellent quality of life, beautiful scenery, and a Mediterranean climate, making it an ideal destination for those seeking a year-round outdoor lifestyle. In addition, Mallorca has excellent connectivity and a vibrant expat community, making it an easy place to settle into.
But what sets Mallorca apart from other destinations in Spain is its real estate market. The island offers a wide range of properties to suit all tastes and budgets, from luxury villas and apartments to rustic fincas and country homes. The real estate market in Mallorca is also stable and growing, with property values increasing year on year.
As a Golden Visa Spain holder, you can invest in Spanish real estate and obtain residency in Spain and the rest of Europe. Mallorca offers a perfect opportunity to invest in Spanish property while enjoying the island's high quality of life, beautiful scenery, and Mediterranean
To apply for a Golden Visa in Spain, non-European Union citizens must make a minimum investment in Spanish real estate or government bonds, have a clean criminal record, possess private health insurance, prove sufficient funds, complete the visa application process, apply for a residency permit in Spain, and renew the residency permit every two years.
In conclusion, obtaining a Golden Visa in Spain is an excellent way to gain residency in one of the most desirable destinations in the world. And with Mallorca being one of the most sought-after locations within Spain, it's no wonder that so many Golden Visa applicants choose this beautiful island as their home.
The benefits of holding a Golden Visa in Spain are numerous, including access to quality healthcare and education, a high standard of living, and the opportunity to live and work in the European Union. And with the Spanish government continuing to support the program, it's likely that Golden Visa applicants will continue to enjoy these benefits for years to come.
So, if you're considering a move to Spain and want to enjoy all the benefits of a Golden Visa, Mallorca is certainly worth considering. With its stunning scenery, wonderful climate, and excellent quality of life, it's easy to see why it's a top choice for many expats. And with the added benefits of a Golden Visa, there's never been a better time to make the move.
This publication contains general information and does not constitute a professional opinion or legal advice.