In return for investing in Spanish property (and/or other assets in Spain), you and your dependents receive permanent residency in Spain. An additional advantage of the Golden Visa Spain is that it offers the holders visa-free travel throughout the Schengen zone.
Can I get permanent residency in Spain if I buy a house?
Spanish Government announced a plan that will allow foreigners who buy a real estate worth more than 160 000 EUR to gain a permanent residence in the country. Most of those houses are designed as holiday residence and are located in coastal areas. …
How do you get Spanish residency when buying a house?
From Investor to Permanent Resident
This status can be achieved via a Spanish Golden Visa program if the investor sticks around his/her investment for five years. You need to live at least 6 months every year in Spain for those five years to be eligible for this upgrade.
How long can you stay in Spain if you own property?
You will be allowed to spend up to 90 days in Spain, and then you must leave the country. You will not be able to return until 180 days have passed since your date of entry into Spain (or Schengen). However, you can divide the 90-day period into two (45 days each) and spend each of them in Spain during the 180 days.
How can I get residency status in Spain?
Individuals can obtain permanent residency in Spain after having legally lived in the country for a period of five uninterrupted years. When they fulfill this specific condition, they can apply for permanent residency and then gain the right to live for the rest of their lives in the country.
What are the pitfalls of buying property in Spain?
Some of the common pitfalls of buying a property in Spain include deposit, purchase tax, issues with off-plan properties and properties being built illegally. During your research into buying a property in Spain you will have come across many stories of purchases in Spain gone wrong.
Can you retire in Spain after Brexit?
The answer is simple: yes. It is still possible to retire to Spain after Brexit, even though the path has now changed (things are not that simple now that Brits are subject to the same immigration rules as non-EU citizens). … And that, of course, applies to those wishing to retire in the country too.
How long can you live in Spain without residency?
The 90-day rule
This rule simply states that you can live in Spain without residency for a maximum of 90 days. After those 3 months, you need to either obtain a residence permit, or leave the country. And that is because the shortest stay option is the tourist (or Schengen) visa, which lasts exactly for 90 days.
How much money do I need to get residency in Spain?
REQUIREMENTS TO APPLY FOR RESIDENCY FROM THE EUROPEAN UNION
As an EU resident, you must prove that you have €6,000 in your bank account and that you have a private medical policy. Alternatively, you can get a job offer in Spain and it will work as well.
How long does it take to get residency in Spain?
The regular application process can be quite long sometimes, taking from 3 to 6 months. You will have to renew at the end of the first year, which involves extra paperwork. Depending on the residency you have obtained, you may not get the right to work in the country.
What happens if I stay in Spain more than 90 days?
So, what happens if I overstay in Spain for more than 90 days? You would be in an irregular status in Spain. As per article 53.1. … In the event that they consent to the ejection, you may likewise be restricted from entering Spain for a time of a maximum of 5 years (anew, depending on the case and scenario).
What will happen to my Spanish property after Brexit?
I own property in Spain – will Brexit affect my rights as a homeowner? No, it won’t. Property rights are never linked to residency status. All owners of property in Spain have the same rights and obligations, regardless of where they are from.
Can I stay in Spain longer than 90 days after Brexit?
If you are a non-EEA national (including British) and wish to stay in Spain for longer than 90 days, you will need a visa. You should apply for the visa that suits your purpose from a Spanish Consulate in your home country.
Does Spain allow dual citizenship?
Does Spain allow dual citizenship? Yes, the Spanish Civil Code does allow dual citizenship, but just under certain circumstances. As a general rule, when you apply for and are granted Spanish nationality by residency, you must renounce your prior citizenship.
Is it too late to apply for residency in Spain?
Anyone who established legal residence in Spain before the end of the year retains the right to remain resident in Spain and can apply for permanent residence after five years. The agreement states that although you need to be resident in Spain by 31st December, you have until 30th June 2021 to apply for residence.