Could a Spanish Real Estate Investment be the Loop – hole around the 3 -month rule for British people post Brexit?

Brexit is a very present topic during current times and so is the Golden Visa. The Golden Visa is a residence visa issued to a non – EU national who intends to make a significant investment in the Spanish economy. The visa affords the holder and their family the opportunity of residency in Spain and visa – free access to the Schengen zone.

With restrictions introduced for British people wishing to spend more than 3 months in the EU post – Brexit, obtaining the golden visa could be the opportunity for a sliver of European paradise.

The Spanish Residence Permit Programme, more colloquially known as the Spanish Golden Visa is programme established in 2013 by the Spanish government to attract wealthy foreign investors to become stake holders in the economic prosperity of Spain. Following an overhaul of the process in 2015, Spain became the leading provider of golden visas in Europe. Although initially introduced in a bid to attract affluent foreign nationals such as Russian or Chinese citizens, in the post – Brexit era many Britons are seeking to take advantage of this.

There are 4 principal ways in which one would become applicable to apply for the golden visa:

• Purchase of real estate in Spain, with a value of at least 500.000€ – this can compromise of multiple properties, or just one that meets the financial threshold. Details of properties that may help you meet this financial threshold can be found here (link)

• Make an investment in the Spanish public debt of at least 2.000.000€

• Buy shares in a Spanish company, or deposit money into a Spanish bank account with a value of _> 1.000.000€

• Invest in a new business that will offer employment opportunities, contribute to scientific and/ or technological innovation that has a relevant socio – economic impact in the area where the business will be undertaken.

Given the cost of the other investments in the Spanish economy necessary to be eligible to apply for the Golden Visa, an investment in real estate could remarkably be one of the most economical ways in which to apply.

In order to apply the applicant must meet some minimum criteria:

• Be of legal age (_> 18 years old)

• No history of a criminal record

• Must not have been refused a Schengen visa in the past

• Must have health insurance in Spain.

There are many benefits for applying for the EU golden visa in Spain rather than other countries that offer it including:

• No minimum stay requirement in Spain

• All family members able to make use of visa – free travel within the Schengen zone

• If the applicant decides to live in Spain, the Spanish government eases their passage to citizenship, through the ability to obtain permanent residence in 5 years, and ability to apply for a passport in 10 years.

At Casamona, we would be pleased to help you finding a property or multiple properties within Barcelona that would fulfil the criteria necessary to apply for the golden visa.With our diverse portfolio of properties, we have many that meet the monetary value required for the visa application.Such apartments can be found here:

https://www.casamona.com/en/for-sale/_city:barcelona,pricemin:500000,mode:mosaic,d:created-desc,p:1/

Lucy Saunders