Residence for buying a property in Spain
There are several alternatives to obtain residence in Spain, as long as a significant capital investment is made. One of them and which we will talk about, is the residence to obtain the “Golden Visa”, acquiring one or several properties in Spain.
Related: Residence for investors in Spain
How to obtain the Golden Visa in Spain?
Every year more foreigners see Spain as an ideal place to live, either to enjoy the golden years or even start a new life. This is when different questions arise to do this legally and definitively: Can I obtain residence in Spain by buying a house? We will explain it to you:
The Spanish Government in 2013, establishes Law 14/2013 for investors who wish to apply for a visa or residence permit for those non-residents in the EU. Within these options is the acquisition of real estate in Spain with an investment of equal to or greater than 500,000 euros for each applicant.
What requirements must I fulfill to obtain the Golden Visa?
Demonstrating real estate investment is one of the most important requirements for the application to be successful. This is done through the “Property Registry” and the deed of purchase of the property or properties (in the case of several purchases, which together add up to 500,000 euros).
Related: Tips for buying a house on the Costa Brava
Once the property is purchased, you must take out private medical insurance with a Spanish company. It will also be necessary to present a criminal record certificate, where the absence of any type of crime is demonstrated.
Necessary documentation:
General Documents:
- Identity document or passport (over 18 years old)
- Health insurance (public or private Spanish)
- Criminal record
- Proof of personal and family economic solvency for the period of residence.
Specific documentation for the investor:
- Identification number for foreigners or NIE.
- Domain certificate from the Property Registry and the deed that support the purchase of the property(ies).
How to process the Golden Visa? Step by Step
First of all, it is necessary to understand that the process is divided into two different steps:
The visa application:
It will be aimed at those who are outside of Spain, and will allow them to reside and work throughout the Spanish territory. The term of the permit is 1 year, except for the acquisition of real estate through a deposit contract (6 months). At the end of this period, this one-year visa can be exchanged for a two-year permit.
Where to apply?
The applicant must go to the diplomatic missions and consular offices in their country of origin. Spanish embassies and consulates
SResidence permit application:
It will apply to those who are already legally in Spain (as a tourist, student visa, etc). With this permit it will no longer be necessary to apply for the aforementioned visa. This permit will be valid for 2 years.
Where to apply?
Applicants who are already in Spain should contact the Unit for Large Companies and Strategic Groups.
Finally, once you are in Spain with your visa or residence permit, you will have to:
- Register at the town hall (empadronamiento)
- Visit the immigration office and register your fingerprints.
With the latter, they will be able to issue your physical residence card (TIE).
We help you apply for the Golden Visa
As a comprehensive real estate agency, when buying a property, we will help you in this process. For our clients, we make this process as quick and easy as possible. In addition to suggesting the most convenient business opportunities. Contact our agents!
