Spain is a wonderful place to invest in property, with a stable real estate market, a high demand from foreign residents and a thriving holiday rental market during the high season. Since 2013 it is posible to any foreigner to invest in a property in Spain and become a Golden Visa. Marbella is one of the most desirable areas, with a very strong brand around the world. All along the Costa del Sol there are some excellent investment properties for those looking for a smart, long-term investment.
We find that many buyers who are considering property investment in Spain from outside the EU are concerned that they may not be allowed to invest in property here, due to the requirements for a visa. But never fear! Since 2013, the government have brought in the Golden Visa, which offers a Spanish investor visa to anyone, from any country, if they invest €500,000 or more in property here in Spain. You can even spread this investment over several properties, if you’d prefer to own a few buy-to-let apartments for example.
One thing to be clear on if you are investing in property for the Golden Visa is that the first €500,000 cannot be financed with a mortgage. This must be a cash investment. However, if you wish to buy a more expensive property, or several properties as a buy to let investment, which is more than €500,000, the additional amount can be purchased with a mortgage.
Purchasing property worth €500,000 gives the buyer and their family resident permits and this can be renewed every two years, whether you are living in the property or not. After five years of owning the property and renewing the visa, it is possible to gain permanent residency if you wish to live in Spain full time.
Once you have bought a property here in Spain you need to provide some documentation to obtain your Golden Visa. This includes proof of the investment, a copy of your passport, your NIE (this is a number you need to have to purchase the property and we can support you in getting). You also need confirmation that you have the means to live in Spain, health insurance which covers you in Spain, a document proving you have no criminal records and marriage certificates and birth certificates of the family members who will also be requiring a visa.
Here at Marbella Living we have a wide range of Costa del Sol properties which make excellent property investments. Our real estate experts can advise you on the area and the property type that is most desirable if you plan on renting out your property, for holiday rentals or long-term. We can also advise on what properties you can add most value to and we see as a great long-term investment, including refurbishment projects and off plan developments. Finally, we can also put you in touch with legal professionals to discuss the Golden Visa and the best way to proceed to ensure that you comply.
Please contact us to discuss your requirements and to find out more about the options of investing in Marbella property with a Golden Visa.