Lanzarote property investment for Golden Visa for UK residents
Since Brexit the UK is not a member of the EU. The biggest change to effect UK citizens is freedom of movement across EU countries. The UK is now a separate country to the EU. The agreements made between EU countries no longer applies to the UK.
One of the biggest changes is that a UK citizen can spend a maximum of 90 days in Spain in any 180 day period. The good news is visas are not required or any forms being filled.
If you have already, or are going to, invest 500,000 euros in Spanish property you can apply for a long term visa known as the ‘Golden Visa’.
The Golden Visa gives you an allowance to stay in Spain for 2 years. These can be renewed and once you have been living in Spain for over 5 years you can apply for permanent resident status.
Tax – the country of your permanent residence is where you pay tax. If you are living in Spain less than six months per year you will just need to pay tax on your Spanish assets.
To apply for your golden visa you will need to be:-
1 – Over 18
2 – No criminal record
3 – Proof of owning over 500,000 euros in Spanish real estate
4 – Have private medical insurance
Advantages of having a Golden Visa
You will have free movement across all European countries, not just Spain.
Have the Golden Visa also makes the granting of visas for spouses and children under 18 much easier.
The property for sale market in Lanzarote and Fuerteventura has been very buoyant throughout the recent world coved recession. Remote working is seen as a big reason for this. Many company owners have seen how productively there work force and be in a working day made overseas.
Freedom4sale are established experts in all sectors of the islands property market. If we wish to secure your golden visa in one Lanzarote property check the website or get in touch.
You can also create your 500,000 euro property portfolio with more than one property. There are no restrictions on how many properties you buy or if you wish to reside in them or rent.
With fifteen years of experience we can answer any questions and walk you through all stages of the process. We can recommend experts to organise all your documents and paperwork.