Before you understand which residence permit in Spain is right for you when buying real estate, you need to analyze the reason for the need for housing in Spain: do you plan to live here permanently or come here occasionally? If you want to occasionally come on vacation, a visa that Spain issues to Russians when purchasing real estate for a year or 5 years will be sufficient. In this case, there is no mandatory requirement to stay in Spain for 183 days, there is no need to pass exams for a Spanish license and obtain a full insurance policy in Spain and there is no need to become a tax resident.<\/p>\n
If you still plan to live in the country, you can obtain a residence permit in Spain when purchasing real estate up to 500,000 euros without the right to work. This residence permit can be approved even for rented real estate, but, as practice shows, in such cases the refusal rate is high. The Spanish government gives the opportunity to obtain this type of residence permit primarily to wealthy people who will spend their money in the country and not apply for work.<\/p>\n
The most comfortable way to move to Spain is the Golden Visa. There are no restrictions on the length of stay in the country and family members also receive the right to work.<\/p><\/blockquote>\n
We will talk about these options for obtaining a residence permit when purchasing real estate in Spain with different budgets in this article.<\/p>\n
Residence permit in Spain for the purchase of real estate up to 500,000 euros<\/h2>\n
This type of residence permit is called \u201cwhite residence\u201d, \u201cResidence permit without the right to work<\/a>\u201d or \u201cResidence permit for financially independent persons\u201d.<\/p>\n
The residence permit is issued for one year with the right of further extension. You can extend this residence permit directly in Spain.
\nTo obtain a residence permit in Spain when purchasing real estate, there are no requirements either for the real estate itself or for its value. For example, you can buy a resale property in a not new house for 49,900 euros, 10 minutes from the beach (Torrevieja).<\/p>\nYou can also buy real estate with a mortgage and at the same time obtain a residence permit.<\/p><\/blockquote>\n
A residence permit is issued first for a year, then it can be extended for 2 years, then again for 2 years, then you receive a long-term residence for a period of 5 years and after 10 years, if all requirements are met, you will receive citizenship.
\nWith this residence permit, you do not receive the right to work, but you can conduct business and make a profit, provided that the director of the company is a Spanish citizen or a resident with the right to work.<\/p>\nWho will benefit from this residence permit in Spain when purchasing real estate?<\/strong><\/p>\n
A residence permit when purchasing real estate is suitable for wealthy people and their families who will not have the need to work in Spain, for example, entrepreneurs with income in Russia from which they can live in Spain; highly paid freelancers and remote workers.<\/p>\n
Conditions for obtaining a residence permit in Spain when purchasing real estate up to 500,000 euros<\/strong><\/p>\n
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- Have your own housing (According to the law, rented housing may also be suitable, but in practice they are most often refused);<\/li>\n
- Get Spanish health insurance<\/a> for all family members with full coverage;<\/li>\n
- Live in Spain for at least 183 days a year;<\/li>\n
- Confirm the availability of funds in a Spanish bank account or a stable high monthly income. In 2021, the IPREM (living wage in Spain) will be 564.73 euros per month. Therefore, per year per person the amount is 27,107.04 euros. Family of two – 33,883.8. Family of 3 people – 40,660.56;<\/li>\n
- Calculated as 400% IPREM for the applicant and an additional 100% IPREM for each subsequent family member.<\/li>\n<\/ul>\n
How to obtain a residence permit in Spain when purchasing real estate up to 500,000 euros<\/strong><\/p>\n
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- Decide on housing, conclude a deal and register ownership;<\/li>\n
- Enroll minor children in school;<\/li>\n
- Get Spanish health insurance;<\/li>\n
- Prepare a package of documents and submit to the consulate;<\/li>\n
- In Spain, request a residence card and provide fingerprints.<\/li>\n<\/ul>\n
Our company provides assistance in collecting documents and obtaining a residence permit without the right to work in Spain. Information can be found here:<\/p>\n