Buying a house in Spain, according to Spanish Law No. 14 of 27 September 2003, which concerns foreign entrepreneurs. The Spanish authorities grant residency to every foreigner who has purchased a property in Spain for a full year, subject to renewal.
The property can be in the form of (a house, a house, a building, a group of apartments…)
Provided that this property is available on the conditions under which a person can obtain residency.
In this article, we will talk about the topic of buying a house in Spain, as this topic concerns many people and we have received many questions from our valued followers.
Therefore, we will try to cover this topic and clarify some false information, which unfortunately we find circulating in many immigration sites and forums.
Buying a house in Spain and obtaining residency:
Living in Spain versus buying a house is not as easy as many people think.
There are some platforms that promote that buying a house in Spain for 60 thousand or 80 thousand euros enables you to obtain residency.
This talk is empty and baseless, and everyone who promotes such information is either ignorant and has no information on the subject. Or he is one of the people who have a malicious intent to defraud the people.
Yes, it is possible to obtain residency in Spain, in exchange for buying a property, but not for the amount traded by these people.
In order to obtain residency in Spain by buying real estate, these conditions must be met
Conditions for obtaining residence in Spain in exchange for buying a house:
In general, whether you want to buy one house or several properties (a group of apartments), these conditions must be met in order to be able to obtain residency, which are as follows:
1. That the property or house is worth or more than €500,000, excluding taxes and fees;
If the property exceeds €500,000, then taxes and fees can be calculated.
2. Proving the continuity of ownership of the house or real estate while being free of debts related to it, by obtaining a certificate from the real estate registry.
3. This certificate must be issued within 3 months before applying for a residence permit in Spain.
4. In the event that the residency application was submitted before the completion of the registration in the real estate registry, the person must submit a document proving that he applied for the registration of a home purchase contract.
5. Documents certifying that the person has paid the tax fee must be attached.
6. not be in Spain illegally.
7. The applicant must have reached the age of eighteen.
8. His criminal record should be clean of criminal records in Spain or the country in which he has resided during the past 5 years, by submitting a certificate of good conduct or criminal record.
9. The applicant should not be a person registered on the blacklist prohibited from entering Spain.
10. That this person does not constitute a threat to Spanish national security.
So if these conditions are met in the person, he can obtain residence in Spain.
But what are the procedures to be taken to apply for residence after buying a house in Spain, according to the residence law in Spain?
Procedures and documents required to apply for residency in Spain by purchasing a property 2022:
When a person fulfills the required conditions for residence in Spain in exchange for buying a house, he must take the following procedures:
1. Go to the website of the Spanish Ministry of Foreign Affairs and fill out the visa application form.
To attach to the application form a recent photo, not older than 6 months, in color and with a white background, to be affixed to the form.
2. Passport valid for at least 12 months and must have at least two blank pages.
3. Copies of the passport pages bearing all personal data.
4. A health insurance policy issued by an insurance agency accredited and recognized by the Spanish authorities.
5. Material resources that prove that the person is able to support himself with an amount of 2130 euros per month.
6. If a person has a member of his family, he must add 532 euros per month for each person.
7. Pay visa processing fees.
This is all about the method of obtaining Spanish residency by buying real estate, and there are some other procedures that must be taken if the application is accepted.
In general, Spain remains one of the best European countries that grant residency when buying a property
But care must be taken when making this investment because real estate prices in Spain will rise due to the recovery of the Spanish economy from the economic crisis.
Therefore, a person has to learn about all the possible options from countries that grant residency by buying a property and choosing the best one
The choice is made according to real estate prices and the privileges that the state provides when buying a property with it
For Spain, the advantages that it provides to the investor when buying a house there are as follows
Advantages of buying a house in Spain in 2022:
Obtaining a golden visa that grants a person residency in a short time not exceeding 15 days for a full year and is renewable.
Obtaining a certificate of domicile in Spain.
After the first year has passed, it is possible to obtain a residence permit for two years, and it is also renewable, and after that, a permanent residence can be obtained.
After obtaining permanent residence, it is possible to obtain Spanish citizenship.
The Spanish golden visa is also given to the wife and children.
How to buy a property in Spain (important tips):
Before you make any purchase or give the deposit to someone, you must take the following steps to avoid falling into the trap of fraud or complex legal problems.
Visit the house in person before you pay a cent.
Check the condition of the house, its surroundings and the roads connected to the area…
ou must know who owns the house and in whose name.
You must go to the Land Registry and check your legal and current status.