Post-Brexit, potential UK buyers are inevitably facing challenges that include whether to obtain Spanish residency or not and the Military Permit. But, explains Tim Stacey of Charles Marlow Ibiza, if you have your heart set on the island, it’s really a question of being aware of the situation and adjusting your strategy accordingly.
If you are a potential UK buyer, your main challenge is finding a way to enter and leave Spain without being restricted to 90 days in six months.
A fair percentage are considering applying for a Golden Visa. In relation to real estate, this is available if you buy property worth more than €500,000 or €1million if you’re a couple. In this case, you have to provide proof of purchase for the property, a deed of sale, land registry charges and the certification of domains.
Fortunately, the properties in Charles Marlow’s portfolio are all over €500,000 and many are over €1 million. In this case, obtaining a Golden Visa may well be a workable solution. Especially if, like many people we talk to, you’re thinking about relocating from the UK to warm, sunny, laidback and safe Ibiza.
The major challenge for UK buyers is what’s known as the Military Permit. This has impacted the timing of transactions as well as the ability to conclude them successfully on the basis of competitive timing. For UK buyers, it can now take much longer to apply for and receive a Military Permit and that can give buyers of different nationalities a distinct advantage.
The simplest way to understand the Military Permit is that it’s an authorisation issued by the Spanish Ministry of Defense to non-EU citizens wanting to buy certain categories of real estate in certain areas of Spain. These include non-urban land unsuitable for development and some categories on land suitable for development. Some non-EU buyers are exempt, such as Swiss citizens.
Having to obtain the Military Permit has seriously impacted transaction times for UK buyers – potentially increasing them from three or four weeks to six or eight months.
It’s important to remember that these are early days, and the situation is evolving. Experts I talk to about things like the Military Permit are constantly reminding me that, over time, things could well relax.
In any case, Charles Marlow prides itself on the quality of our network of experts on Ibiza and the quality of advice and high service they provide.
When you fall in love with one of our dream Ibiza homes, we do everything in our power to make the buying process as smooth as it can possibly be. The lawyers we work with specialise in residential real estate and it’s their business to be able to help buyers from anywhere in the world purchase property on the White Island. They also work with specialists who handle the process of becoming a resident of Spain, whether via a Golden Visa or not.
So, keep searching our portfolio for the Ibiza home of your dreams. If you don’t see exactly what you’re looking for, do get in touch. We have properties on our books that we don’t promote online, and we have unparalleled connections. If your dream home exists, we’ll help you find it.
Can Balafi is a charming, beautiful family home in an ideal spot just south of Santa Eulalia in the east of Ibiza. This authentic finca consists of seven bedrooms within the main building, and an eighth in a separate casita.
Outdoor spaces include a large swimming pool and a separate children’s pool with surrounding seating, various shaded chill-out spots for maximum relaxation, and several choices for outdoor dining. There are spacious areas of decking, which have been used extensively for yoga by the current owner, and plenty of mature gardens to enjoy.
Out of sight of the pool area is a large lawn, perfect for children to enjoy or for further development into exotic gardens or a home farm.
Inside, traditional Ibizan building techniques and styles can be enjoyed throughout the house, making this a rare opportunity to own an authentic and spacious home in a very well positioned part of the island.