Visas and Residence Permits for Foreign Buyers in Spain

Visas and Residence Permits for Foreign Buyers in Spain

Note: For detailed information and recent updates on visa laws and requirements, feel free to contact us. At Taylor Wimpey España, we are here to help answer your questions and guide you through the entire process.

Spain has become a very attractive destination for foreigners looking to purchase a property, whether for vacation, a second residence, or a long-term investment. However, buying property in the country does not automatically grant a residence permit. Therefore, it is crucial to understand the available visa options for non-resident buyers, especially if you wish to reside in Spain for extended periods.

Golden Visa: Residence for Investors

One of the most well-known and attractive visas for foreign buyers is the Golden Visa, a residence permit that offers multiple benefits. This visa is aimed at non-EU citizens who make a significant investment in Spain. The most common way to obtain it is through the purchase of real estate valued at €500,000 or more.

What are the benefits of the Golden Visa?

The Golden Visa not only allows legal residence in Spain but also provides mobility within the Schengen area. Additionally, investors are not required to reside in the country for long periods to maintain the visa, making it an ideal option for those seeking flexibility. This visa is renewable every two years, and after five years, permanent residence can be applied for.

Non-Lucrative Residence Visa

Another very popular option is the Non-Lucrative Residence Visa, ideal for those who want to live in Spain without engaging in economic or work activities in the country. This visa is aimed at foreigners who can demonstrate financial solvency to cover their expenses without needing to work in Spain. However, as a residence visa, the applicant must spend most of the year in Spanish territory.

To obtain this visa, the applicant must prove sufficient monthly income or savings to support themselves during their stay. It is ideal for retirees looking for a quiet and safe place to enjoy their retirement.

Entrepreneur Residence Visa

For those interested in investing in business development in Spain, there is the Entrepreneur Residence Visa. This visa targets investors who want to create or develop a business activity considered of general interest, with a positive impact on the economy, innovation, or job creation.

The approval of this visa depends on a rigorous analysis of the business plan by the Spanish authorities. It is an excellent option for those who want to combine property acquisition with an entrepreneurial project in the country.

Other Relevant Residence Permits In addition to the visas mentioned, there are other alternatives to obtaining a residence permit depending on each buyer’s personal circumstances:

• Family Reunification Residence: Ideal for those who already have direct relatives legally residing in Spain and want to join them. This permit allows family members to reside and, in many cases, work in the country.
• Study Residence: Although not specifically designed for buyers, it is a relevant option for those acquiring a property and wishing for their children to study in Spain. This visa allows residency in the country while pursuing studies at a recognized institution.
• Permanent Residence Visa for EU Citizens: Although EU citizens do not require visas, it is important to be aware of the procedures for permanent residence if the foreign buyer is from the EU.

Final Considerations and Recommendations: Visas foreign buyers

It is important to keep in mind that each visa and residence permit has specific requirements, both in terms of investment, documentation, and renewal deadlines. Additionally, laws and regulations may change, so staying updated on any legislative changes is essential. If you are considering buying a property in Spain and need guidance on the most suitable visa or residence permit, do not hesitate to contact us. At Taylor Wimpey España, we have a team of experts who will guide you throughout the entire process, ensuring a smooth experience.

Purchasing a property in Spain as a foreigner can be a rewarding experience and an excellent investment opportunity. However, having the correct information and the right professional support is key to making the right decisions. We are here to help you turn your plans into reality!