Hear from our legal and property experts about the new law proposals and get the advice and tips of our dedicated team of professionals.
Is it compulsory to be fully resident in Spain to be eligible? How many times a year do I need to travel to Spain?
There is no need of a minimum stay in Spain to obtain the permit. The law does mention the need to have travelled to Spain at least once within the period of validity of the permit to obtain renewal.
Do you offer any legal help with regards to obtaining the residence permit?
Yes, we do. With the residency, do I get a work permit? Not under the current law.
Is it possible to buy several properties so that their total cost is 500 thousand euros ?
Yes, it is. Is it possible to lease the property/properties? There is no restriction on this point and no reason to believe it should not be possible.
Can I invest by opening a business? Yes, this is an option contemplated in the bill. Can I invest in a commercial property?
Yes, there is no restriction as to the kind of real estate purchased.
When do I lose my residency?
Once the property which entitled the purchaser to opt for the residency is sold, the purchaser may no longer opt to renew the permit upon expiry of the initial residency term.
Can I get citizenship through this Residency?
Yes, after five years of continuous residence, applicants can apply for an unlimited residence permit and after 10 years, they can apply for Spanish nationality.
Is it possible to get financing?
Yes for all property purchases above the entry point of 500 thousand euros, financing is possible.
Do non-EU property investors need to have health insurance?
Yes, potential investors and their spouses and children under 18 need to prove that they have either public or private health insurance from an entity that has been authorised to operate in Spain.
Will children be entitled to residency also?
Yes, children under 18 years of age or who are disabled will be granted residency.
Does my partner get residency if we are not married?
The law uses the word “conyuge” = spouse but it would probably be recognized the de facto partner duly registered in the country of origin.
What is the time period for residency ? Lifetime or limited by exact number of years and it is needed to be prolonged?
Initially you will be granted a residency visa of 1 year of duration. After this first year you can be applied for a residency permit of 2 years that can be extended for further periods of 2 years as long as the beneficiary maintains the legal requirements.