The minimum investment in property must be 500,000 euros.
Approximately 12% should be added for taxes, stamp duty, VAT, attorney and notary fees.
Investments can be extended to multiple properties.
It can be purchased by a foreign company in your name.
The Spanish residence card will be granted to the immediate family, including spouse and children up to 18 years of age.
The residence card covers a period of 5 years. Permanent residence can be granted after 5 years. The property can be sold after obtaining residency. The residence card allows unlimited travel within the Schengen countries of the EU. The application for a green card should take 20 days. Investments must be documented before applying for a green card. Spanish citizenship will be granted after 5 years of permanent residence. The applicant must travel to Spain once in the first 2 years and once more in the following 3 years.
A recommended lawyer will handle the application, a 90-day residence card is issued so that they can come to Spain to look for the property and sign a power of attorney for the lawyer to act on their behalf. If you don’t have time to come, a power of attorney can be issued in your home country and the lawyer can buy the property from you. After the purchase a one-year residence card will be issued Once the property has been purchased, you will be issued a 2-year residence card to live in Spain, which will be renewable.
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