I have a 'tricky' question for you. If I wanted to apply for the Golden Visa in future, could I buy a couple of these properties, but only invest say 100,000 Euros and have a mortgage and rent them out to long term tenants, and then in 7 - 10 years time 'convert' these properties and add a couple more into the 500,000 euro investment to qualify for the Golden Visa? I ask this question because I will not be ready to leave Australia for another 7-8 years and I want to keep my property in Australia until then so I would only be able to put in about 300,00 Euros in cash until I am ready to make the move.
Hello, You can qualify for Golden Visa only through investing 500K of your own money, even excluding taxes. So taking a mortgage is not an option in this case. I hope I have answered your queston. Let me know if there's anything else.
@@wtgspain Thank you for the reply. I don't think I explained myself properly. If I take a mortgage now, but pay it off completely in 7-8 years and then I outright own the properties, could I THEN apply for a Golden Visa? I know the rules might change in the future and I'm not looking for a definite yes, but just wanting to know if it is already a definite no?
Hello It is possible, if you are going to take out a mortgage in your native bank in your country. In that case the Spanish government will consider it your own investment. As long as you don't borrow money from the Spanish bank, in that case it will not be considered a personal investment, and it cannot qualify for a Golden Visa. The rules might change in the future indeed, but this is the current situation we know at the moment.
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I have a 'tricky' question for you.
If I wanted to apply for the Golden Visa in future, could I buy a couple of these properties, but only invest say 100,000 Euros and have a mortgage and rent them out to long term tenants, and then in 7 - 10 years time 'convert' these properties and add a couple more into the 500,000 euro investment to qualify for the Golden Visa?
I ask this question because I will not be ready to leave Australia for another 7-8 years and I want to keep my property in Australia until then so I would only be able to put in about 300,00 Euros in cash until I am ready to make the move.
Hello,
You can qualify for Golden Visa only through investing 500K of your own money, even excluding taxes. So taking a mortgage is not an option in this case. I hope I have answered your queston. Let me know if there's anything else.
@@wtgspain Thank you for the reply. I don't think I explained myself properly. If I take a mortgage now, but pay it off completely in 7-8 years and then I outright own the properties, could I THEN apply for a Golden Visa? I know the rules might change in the future and I'm not looking for a definite yes, but just wanting to know if it is already a definite no?
Hello
It is possible, if you are going to take out a mortgage in your native bank in your country. In that case the Spanish government will consider it your own investment. As long as you don't borrow money from the Spanish bank, in that case it will not be considered a personal investment, and it cannot qualify for a Golden Visa.
The rules might change in the future indeed, but this is the current situation we know at the moment.