Spain has a huge attraction for foreign investors and people who want to enjoy the beauty and climate of its coastal areas throughout the year. Besides, it is possible to obtain a residence permit by buying a home in Spain. That's what is called Golden Visa.
Although there are different ways to obtain it, real estate investment is one of the most attractive due to the characteristics of the Spanish market. There is, however, a mandatory requirement: the property asset acquired must have a value greater than 500,000 euros.
In exchange for the investment, the Golden Visa allows to reside and work for a year throughout the national territory. Additionally, it is possible to extend this term for two periods of two more years each. The requirement for this is to demonstrate that the property that gave rise to the visa is still yours.
Not only does it grant residency, but it also allows free movement through the Schengen area and obtaining long-term residence. For the latter, you must prove that you have resided in the country for five years and have not lived overseas for more than ten consecutive months.
Steps to buying a house in Spain and obtain a residence permit with the Golden Visa
Like any other administrative procedure, it is essential to follow a few steps and provide a series of documentation to buy a house in Spain and obtain a residence permit:
• The first step would be getting the Foreigners Identification Number (NIE), which is essential to sign the purchase contract and pay the corresponding taxes.
• After purchasing the property, you'd have to write the property deed and pay the taxes (VAT and Tax on Patrimonial Transmissions and Documented Legal Actions) and, finally, make the registration in the Property Registry.
• The procedure is carried out at the Consulate of Spain in the country of origin. Along with the visa application, you must present an identity document or passport, health insurance with an entity that operates in national territory, a criminal record certificate and proof of economic solvency, as well as a certificate from the Property Registry and purchase deed.
• The Unidad de Grandes Empresas y Colectivos Estratégicos (Large Companies-Strategic Collectives) will analyze the application and be in charge of processing the residence permit.
With Spainhouses, it's easy to find a home
If you wish to buy a property in Spain and get a residence permit, Spainhouses.net is the tool that will help you find that home you are seeking. On our website, you'll see a specific section for properties whose value exceeds the 500,000 eurosrequired to obtain the Golden Visa; homes with all kinds of luxuries and benefits.
There are more than 20,000 homes available, of all kinds and throughout Spain. Just complete the fields of the browser filters, and you'll have the best selection of properties in one click.