Spanish residence permit by investment in Real Estate
- Grounds for obtaining a residence permit
- Benefits
- Investor Requirements
- List of required documents
- Application process
- Procedure timeframe
- Fees and charges
- Spanish citizenship
- Our services include
Grounds for obtaining a residence permit
- Investment in real estate.
Benefits
- Visa-free travel to Schengen countries;
- Easy opening of bank accounts in different countries;
- Removal of the €100,000 limit on bank accounts in EU countries;
- No residency obligation in Spain;
- Access to European health care system and education;
- Opportunity to work and do business in Spain;
- Citizenship of an EU country after 10 years.
Investor Requirements
- The major age of the main applicant;
- Money to be invested was earned outside of Spain;
- No criminal record and no debts;
- Program conditions:
- Purchase real estate for an amount of 500,000 euros or more;
- Transfer to an account in a Spanish bank the amount that exceeds the annual minimum wage at least 4 times (in 2023 this amount equals to 30 000 euros, for each family member must be an additional 7000 euros);
- The property is allowed to rent, and after obtaining a residence permit is allowed to sell it.
List of required documents
- Passport;
- Marriage certificate or children's birth certificates (if necessary);
- Certificate of no criminal record with apostille (valid for 3 months from the date of issue);
- Spanish bank statement of funds confirming financial solvency;
- Payment of the investor residence permit application fee;
- Medical insurance.
Application process
- Purchase of the property and execution of the notarized transaction;
- Collection of necessary documents (collection, translation, legalization);
- Obtaining the NIE (Tax payer number) and opening an account in a Spanish bank;
- Registration at the Spanish Consulate in your home country to submit the documents;
- Filing documents at the consulate;
- If the decision is positive, you will be granted a three-month D type visa, on which you can enter Spain;
!Other option: If you have a valid Schengen visa, you can use it to enter Spain and bypass the consulate and apply for a residence permit directly from Spain!
- Travel to Spain and submit the documents to the Police Department in Spain + biometric data;
- Receive notification of documents acceptance for a residence permit in Spain (as a confirmation of your legal stay in the country, if the term of consideration goes beyond the validity of the visa);
- Receipt of the Spanish residence permit card.
Procedure timeframe
The whole process of application for a Spanish residence permit for investment takes up to 3 months, of which:
- Collection of necessary documents and their submission to the Spanish Consulate - 1 month;
- Entry into Spain to submit biometric data and apply for a residence permit card - 1 month;
- The period of application review by the Spanish migration authorities and receiving a residence permit card - 1 month.
This does not include the process of selecting and registering a property. Please note that it may take you several months to find a property. It all depends on your wishes and preferences!
Fees and charges
- State Tax which is 10% of the value of the property;
- Fee for a residence permit card application- 350 euros;
- Notary translations of all documents are up to 1000 euros;
- Payment of notary fee for the transaction - up to 2500 euros depending on the notary.
Spanish citizenship
The first residence permit is issued for a period of 3 years, with the right to extend it for further 5 years. After 5 years from the date of issuance of the first residence permit, you have the right to obtain a permanent residence permit in Spain. After 10 years of residence in Spain, you have the right to apply for Spanish citizenship.
Our services include
- Preparing and organizing the collection of necessary documents in the territory of the applicant's current citizenship.
- Obtaining a residence permit.
- Recommendation of realtors for the selection of real estate.
- Supporting the conclusion of the contract of sale of real estate and registration of the contract.
- Support of renting out the purchased real estate.
To obtain a Spanish residence permit you can contact REVERA's Private clients specialists at y.zadesenskaya@revera.legal.
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