SPAINS NEW GOLDEN VISA BOOSTS INTEREST FROM NON EU BUYERS
SPAINS NEW "GOLDEN VISA" BOOSTS INTEREST FROM NON EUROPEAN BUYERS
The long-anticipated legislation granting non-EU nationals automatic Spanish residency if they invest in Spanish property has now officially been finalised last week.
Approved by the Spanish Parliament and opening the door to thousands of potential investors. The new legislation states that investors outside of the European Union who invest €500,000 or more in property or land, will now be permitted to apply for a visa and live legally in Spain for two years, with the option of renewal every two years.
Applicants can purchase several properties of different kinds to meet the qualifying value.
The "Golden Visa" was originally stated to be aimed at Russian and Chinese investors, although it is open to any non-European Union resident.
After five years of continuous residence, applicants can apply for an unlimited residence permit and after 10 years of residence, they can apply for Spanish nationality.
The law is also retroactive, allowing those who have already invested half a million Euros or more on Spanish real estate to be granted residency.
Peter Bowerman, Director of The Overseas Property Network explained, "We have a team that have been working directly for banks, probate lawyers and liquidation companies for over 20 years and at the moment we have some incredible deals available on the "Costa Del Sol" Spain's most popular destination, including brand new luxury properties with up to 60% reductions, which also offer great "buy to let" and rental opportunities."
You can find a sample of some of these clearance deals, in the main menu under (Hot Properties).
If you are interested in discussing this new "Golden Visa" EU residency opportunity further, with Spanish lawyers or would like to talk to us with regards to property criteria, preferred areas and the buying process etc. please simply complete/submit the contact form with the best telephone number/times for us to call and we will contact you as soon as possible.
It is being widely reported that Spain's property market is finally levelling out and both viewings and sales have already increased. The market will obviously take time to fully recover, but the best deals will be snapped up first. We have many properties available at over half their original value, so it's now a buyers market and a great time to pick up a genuine bargain in Southern Spain.
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