Property in Marbella

What is golden visa and what it means for foreign investors?

It is known by all residents and visitors to Marbella is the jewel of the so-called Costa del Sol is therefore that has become to be a new trend which no one wants to escape, being one of the destinations where develops. After have been called “Visa Gold” to allow the foreigners in Spain , a total of 830 residents. Most of them, around 690, luxury to buy it. While homeowners are mostly from Russia, China and the Arab countries are the United States, which provides the business in the real estate.

What is the golden visa
What is the golden visa

What is required to buy a property in Spain as a foreigner?

Named Visa payment is created for Foreign Affairs attract investors lower prices forthe residential apartments of luxury and from outside the EU, or €500,000 (excl. taxes) or allocate 200 million euros to buy the public debt or that they do, in ten thousand euros of actions as well as those to boost business projects. The Government hasnow prepared an investment of softening granted in Spain Exchange (ratified in 2013) changes in the eligibility requirements for a residence permit system and extending beneficiaries living together or children older than 18 years.

For investors there have been 730 residence permits, which corresponds to more than one dozen of call venture “general interest”, and 29 is due to capital investments and 490 are considered to be the buyers of high quality, especially in Madrid, in the residential area of luxury in Alcobendas and suai Luo Alarcón wave, but also in Barcelona and Malaga and the Balearic Islands as the main coastal region complex.

Besides them licenses related with the investment, also is has given to 82 entrepreneurs that live, there are 1,231 professional highly qualified, 369 researchers, 907 and 2461 due to the movement inner of them family. For those interested in houses for sale in Spain getting with the best real estate advisor.

How it has been the implementation of this new system of buying property?

In accordance with the “Golden visa” valid administrations balance these 15 monthshas been positive, but has been modified to improve its function, which prevents any authority, technical and legal aspects. Not change any of them conditions economic, to get these rights, not there is protection legal, but from a point of view technical is has paved the road. Starting from now, the program also will benefit of a partner, not only the marriage, them children adults and the economy depends on in ascent. Now, also, these investors can apply directly from the card of residenceSpanish, without need of a visa first step out of them investors.

What to do if you want to buy a house in this country if you belong to a country of the EU?

 If going to buy a property in Spain, also is gets that not completed the acquisition of the property of a visa or authorization of six months , but is has signed a commitment, and it had deposited themoney (in the process of purchase, or can be temporarily Spain). In addition, if the period between the financial investment made, and visa requirements should not bemore than three months, and now extended to a year.

Another change in the tableis that investors no longer have to visit the country to ask for the renewal of the permit of residence.

 Citizens of nonCommunity countries may not wish to live in the residence permit for field in Spain , allowing the free circulation of Schengen space. These authorise the renewal of his contract every five years, every two years from now no proof that investment there continues.

 During the period of license management, whether to request an extension, will be living in Spain, until the programis resolved in order to avoid what happened who extend their permission to foreigners and? in the process of taking the time forced to abandon the country.

What other countries have a system similar to the one implemented by the Spanish Government?

Some countries have this type of program (Portugal, Cyprus and United Kingdom) in different forms of attracting investment. In Spain, it has been (almost 370 entrepreneurs and 234 F) investment, the investment of 700 million euros, will be created directly or indirectly the Government estimates that around 12,000 jobs.

Property sale in Marbella
Property sale in Marbella
You can know how he is handled real estate market with Ignacio Acosta Sorge Expert in Real Estate on the Costa del Sol.

The VisaGold that was proposed in 2013, so far has been up to 530 visa, about 490 people, at least the minimum of €500,000 by the property to do so.

Marbella is a destination for world class has a certain prestige; Of those who live there to enjoy impressive Spain and international cuisine, quality beaches and an enviable climate. You can choose the style and property with a spacious apartment located in the exclusive tourist center in the city of charming luxury log cabin outside of jetsetting life, or hiding in the mountains will provide greater privacy protections more rural housing service.

Many people in the zone property overlooking the Eastern Mediterranean or the grandeur of the mountain in the background. Into the sea with spectacular views, opinion, city, complex, lush gardens of Eastern Mediterranean waiting in this vibrant city, located entirely in the Andalusian coast of Sun, Sun Coast area is very safe to live there are many international and excellent levels of education for children of all countries. It is also a popular area, for those who are looking for a place to spend their golden years, reliable and professional care of the elderly, and the hospital is excellent.

So if you, in turn, wants to put in the town and she covered all aspects of the lives of global citizens. Real estate Spain volatility in recent years many companies can be found in all types of properties in Marbella. As urban migration is one of the tributaries of the popular volumes, and supports their demand for the company’s property in Mabe pull may be good investments over the long term.

For more information, you can contact one of the agents of real estate more known in Marbella Ignacio Acosta Sorge. For more news visit are web about properties in sales in Marbella.

How does participation or help Spanish banking sector to foreign investment?

The Bank of Spain expected for this year is in the Spanish owners, but he warned not expect that the prices of housing in the short and medium term to achieve the highest level. According to BBVA is the second largest bank in the country, which improves the prospects for economic growth, improve financing conditions, which meansthat sales will grow together with the modest improvement in the pricing report.
A report of Santander said that the merger, this may be due to the increase in pricesas the 60% of the Spanish provinces, 5032 and increase of the credit, which has been increasing prices, or at least hitting bottom.
The rates of interest should remain in minimum historical, and the constant growthof the demand will increase them prices, but warned that the sector real estate Spanish of the economy never will be as important as it was before the crisis.

It has given the result positively for those interested in real estate investment

In 15 months only had registered 530 foreign have obtained a residence permit by ahouse purchases exceeding 500,000 euros, as a result of the administrative tangle. Today is estimated that more than 8000 requests of visa of gold is have registered toget the greater amount of benefits possible, both in the theme of paperwork and the price to acquire a property in Marbella.
To get the Golden Visa has become a career obstacle to principles. A variety of circumstances where the investor who wants to buy a property (amounting to no less than 500,000 euros) and in return get residence permit is subject to a series of adventures and misadventures that, in many cases, aborted the operation by mission impossible.
So, once again, normative hypertrophy and the “come back you tomorrow” typical spanish have caused that from September 2013 only 530 investments has been arranged. The figure seems low if you consider that it is the fourth part of the planned 2,000. On the contrary that in Portugal, where the neighboring country if it has come to that figure and has waiting list.
The difference is administrative. Portugal offers the possibility of obtaining the nationality from the permanent residence, residence that he is five years from the Spain2.5, forcing a continuous renewal of the papers.
Aware of the problem, the Government Spanish works in soften them requirementsby investment to get them visas Express, more if is has in has that this visa was created to attract foreigners of out of the EU and mobilize the brick. The vast majority, Chinese and Russian citizens above all, bought luxury homes.
The Executive wants, and rightly, change any of these legal aspects such as grantinga visa for six months who have already signed the contract of yore and deposited money, or renew the residence permit from their country, without having to travel toSpain. Measures are well received since according to Professor of Chinese studies atthe University of Pompeu Fabra, Jacinto Soler-Matutes, “should improve administrative processes some agile and long”.

What can be expected in the long term this golden visa system?

As in everything in this life has its pro and against, for many have served them definitive push to invest in Spain, so that the real estate market in the Iberian region has increased percentage each year and is expected to be the same for the 2016. According to the website spain-property.com these are the requirements to obtain a residence permit for the purchase of a house in Spain
It all depends on which the capital of the country Madrid, the cosmopolitan city of Barcelona and of course to the South of the nation in the region of Andalusia Málaga and itssurroundings most beloved by foreigners to spend a long time and vacations in luxury properties with the most competitive on the market prices not only in Spain butin Europe in general.

Drafted: AV

Word count: 2036

Main sources:

barcelona-sothebysrealty.com/residence-permit-golden-visa-spain

spain-property.com/files/pages/spain-residence-permit.asp

engelvoelkers.com/marbella/

marbellapropertyco.com

Secundary sources:

ee24.com/daily/article/the-golden-visas-where-to-buy-a-residence-permit-in-europe/

forbes.com/sites/ceciliarodriguez/2013/09/29/want-to-live-in-europe-buy-a-residency-permit/#32d11bdd7c26

leadingpropertygroupspain.com/en/2013/10/qa-spanish-golden-residence-visa/

tolentinoabogados.com/index.php/es/component/tags/tag/262-investment-residence-information

Contribution of reader: Knowing the importance for foreigners to learn about the Visa Gold allows them a quick process for the acquisition of property in Spanish territory.

Post Author: sorgeignacio

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