Spain is one of the most preferred destinations for buying real estate as a second home among foreigners around the world. Excellent climate, amazing cuisine, friendly people… Residents of the European Union can enjoy these benefits on a daily basis.
It should be noted that currently the market for non-residential property in Spain has a steady upward trend, as high demand is supported by both Northern European buyers who insure themselves against high inflation in the EU by the end of 2021-2022, and non-European buyers in order to relocate to a comfortable climate for remote work. Separately, it is worth noting investors who purchase real estate in order to obtain a high rate of rental income, which increased in the Costa Blanca region by more than 35% in 2022 due to the very high demand of "relocants" for medium- and long-term rental housing.
Spain offers several residence permit options for foreign citizens, including from the beginning of 2023 a new type of residence permit - a digital nomad, which became relevant after the COVID epidemic and the latest global changes in the world. To obtain any type of visa, you need to take a number of very clear actions and issue a residence permit (residence permit).
In the event that you have the required amount of money, you can get into a narrow circle of owners of a "privileged" type of residence permit with the following advantages:
Due to the very minimal number of requirements that characterize this type of residence permit, the investor visa (sometimes called the "Golden Visa") is very popular. Investors usually choose real estate as an investment object. In this case, they should invest in real estate in the amount of 500,000 euros.
An alternative is to purchase shares of a Spanish company in the amount of 1 million euros, or invest in the Spanish public debt in the amount of 2 million euros.
Due to the fact that the most budgetary and understandable way is through the purchase of real estate, most investors choose it.
You will also need to prove that the investor has enough money to support himself and his family in Spain. For example, if you do not have a family and you, as an investor, apply only for yourself, then the amount in your account should be about 30,000 euros per year.An additional 10 thousand euros is needed for each subsequent family member. So, for a family of three, this amount is about 50,000 euros per year. These funds may be in your account both in your country and in Spain.; at your discretion. You can spend them (actually, that's the point). You just need to show a certificate from your bank about their availability when obtaining a residence permit. Since the first residence card is issued for two years, you need to double this amount and show the corresponding amount in the certificate from the bank.
An important requirement for obtaining an investor's residence permit is the legality of the origin of the funds spent on the purchase of real estate. Think about it in advance whether you are able to confirm your income. To substantiate the legality of the origin of funds, 2NDFL certificates, a salary certificate from the place of work, proof of receipt of dividends, a real estate sale agreement in your country, a money donation agreement in your country and other convincing justifications will be suitable.
Each family member must have health insurance in Spain. You determine the scope of services yourself, so the price of insurance may vary. For example, for a family of three, the minimum cost of insurance is about 1100 euros. Insurance with maximum coverage of 1600 euros per year.
Did you know that more than half of the wealthy people in the CIS countries already have a residence permit in other countries? Global freedom is a new trend available to people who have achieved financial results in their lives. The relevance of this trend intensified during the pandemic and subsequent global changes in the world, when only holders of a residence permit had the opportunity to leave the country and move to a more comfortable place for self-isolation, and subsequently to conduct business remotely or open new projects abroad.
Investor visa gives you:
On the way to obtaining a residence permit card, you will go through the following procedures:
Your costs when obtaining a residence permit:
August is the most unfortunate time in terms of timing, because the whole of August and sometimes half of September is the holiday season throughout Spain and in government agencies in particular. Everyone rests for a month and a half at the same time. Therefore, if the notary's transaction takes place in August, your documents will be in the registration authority without consideration until the end of the holidays. Accordingly, after going to work, the staff of the registration authority will gradually sort out the accumulated cases over the month, and the contract registration process alone may take two to three months compared to registration at other times of the year.
We remind you that the time of registration is important for you only in terms of applying for a residence permit and does not affect the possibility of using real estate in any way. You receive the keys and can live in your apartment or house from the day of the transaction at the notary.