If you are looking to sell property in Spain to Golden Visa buyers, then you will be pleased to know that a large number of high net worth investors from China, Russia and the Middle East are considering buying their way into Spanish residency permits, and hence into Europe by applying for the Golden Visa.
A Spanish residency permit allows non-European Union foreigner to travel unhindered across the Europe, and visit any nation in the European Union (except the United Kingdom and Ireland) as under the Schengen Agreement.
Since the launch of the Golden Visa in Spain in 2013, over 1000 foreigners have obtained residency in the country, buying properties worth at least €500,000. In all, foreign investors have invested over $1 billion in Spanish property through the Golden Visa scheme over the last year or so.
Lars Gehrmann, who has written extensively about the Golden Visa schemes active in several European countries, says that the scheme will be made much more attractive in Spain. “Sources say that the Golden Visa Spain law will be adapted to attract more foreign investors by giving them more security before investing and longer stays.
“We see a big interest in Spain from investors as the Golden Visa Portugal law was in news in the last months. The option to setting up a company in Spain seems to be more attractive compared to Portugal as well.”
The Golden Visa in Spain – The Details
If you are looking to sell property in Spain to Golden Visa buyers, it helps to know some of the intricate details of the scheme. The Spain Golden Visa Law came into effect on September 30, 2013, and is directed at foreign investors from non-European nations.
The scheme offers a residency permit to those who invest €500,000 in residential or commercial property in Spain. Property investors may buy one property, or buy two or three properties as well, to qualify for the Golden Visa in Spain.
Initially, property investors from abroad will be allowed to live legally in Spain for 2 years, but the residency permits can be renewed every 2 years, if they so wish. The Spanish Golden Visa norms have been relaxed and they are now offered to unmarried couples, any dependant relatives or children of the property investors, as well as to their spouses.
The investors can start their process of application for the Spanish Golden Visa immediately upon buying property in Spain. It is given even to those who have just signed a contract and paid a deposit, even though they haven’t completed the formal property purchase. Usually, it takes less than 6 months to receive the Spanish Golden Visa.
The applicants for the Golden Visa can demand an unlimited residency permit after 5 years of continuous stay in Spain, and after 10 years of living there, can apply for Spanish nationality. Primarily, when you are looking to sell property in Spain to Golden Visa buyers, you will have to target high net worth individuals from China and Russia.
It would help a great deal to market your Spanish property for sale at Russian and Chinese property portals, blogs, social media sites and online forums. The Golden Visa in Spain represents one of the best opportunities for them to get a foothold in Europe and profit from the fast rising Spanish property market, which is well known for its enormous profit potential. Contact us today if you have a Luxury property to sell in Spain we can sell it Direct to a cash rich buyer.