Acquiring a Golden Visa.
If you are a UK or other non-EU citizen, the Golden Visa is the key to being able to enjoy unlimited stays at your new home in Mallorca.
If you are a UK or other non-EU citizen, by buying a property in Mallorca in which you make a capital investment of at least €500,000, you will automatically be able to apply for Spain’s annually renewable Golden Visa, which entitles you to reside on the island (or anywhere else in Spain) for as many days as you wish each year.
We’ve helped buyers of second homes in Mallorca to obtain the Golden Visa countless times over the years, and will be pleased to guide you through the process as your purchase progresses.
What is the Golden Visa?
The Golden Visa is a special residence permit allowing non-EU citizens to live, work and study in Spain which includes, of course, in Mallorca.
Since the UK departed the EU in 2020, the need to hold this visa extends to British citizens.
All that is required to be able to take advantage of the Golden Visa’s entitlement to spend up to 183 days a year in Mallorca without incurring any tax liabilities, is to invest a minimum of €500,000 (which must be a capital investment as opposed to finance) in the purchase of your property.
What do I need to apply for a Golden Visa?
Almost everyone purchasing an exclusive home in Mallorca will meet the basic qualifying criterion of a finance-free investment in excess of €500,000.
In addition to this you should:
- be over 18 years of age;
- have no criminal record;
- possess valid medical insurance and an official health certificate, obtainable via a GP;
- have not previously been refused entry to Spain;
- be able to evidence having funds available to sustain yourself and your family for the duration of your stays in Spain.
What are the benefits of the Golden Visa?
First of all, the Golden Visa grants you and your family the right to reside in Spain, and so in Mallorca, for up to 183 days a year, so long as you continue to have more than €500,000 invested in real estate.
Once you have a Golden Visa, you can also travel anywhere you like in the 26 countries of the Schengen Zone. Your family can access Spain’s excellent education system, including international schools and universities, and you will also gain access to Spain’s outstanding healthcare system.
How do I apply for a Golden Visa?
When you purchase your property in Mallorca once the ‘contrato de arras’ pre-agreement is signed and you have deposited the appropriate funds you will automatically qualify for the multiple entry Golden Visa. This is initially valid for one year, but so long as you maintain your real estate investment of at least €500,000 it is easily renewable each year. During the first year, you must apply in person for a two-year residence permit.
If you purchase a home through Mallorca Property Collection, we will be pleased to assist you with your Golden Visa application. We are completely familiar with the process, and can help you work through it as efficiently as possible. This generally takes a total of four to eight weeks.