Residence permit in Spain when buying property for the Russians – get a residence permit in Spain
March 22, 2019
On September 27, 2013, the Government of Spain approved a new immigration law, which provides an opportunity for foreign investors to obtain a residence permit through investment.
On July 31, 2015, the Spanish Government introduced a number of changes to this law, expanding the list of participants in the program to three generations of the family.
There are the following options for obtaining a residence permit through investment:
- purchase of real estate worth from 500 thousand * ;
- investment in government bonds in the amount of 2 million euros;
- deposit in a Spanish bank in the amount of 1 million euros;
- investment in the shares of Spanish resident companies in the amount of 1 million euros;
- starting your own business and creating jobs.
* No restrictions on the type of real estate (land, residential, commercial, industrial, agricultural land, factory space), as well as the number of acquired objects.
Residence permit in the framework of the program “Golden Visa”
The terms of participation
- be over 18 years old;
- have no criminal record in any country;
- not to be banned from entering Spain or another state with which Spain has entered into a relevant agreement;
- not be an EU citizen;
- have an annual public or private health insurance policy in Spain;
- have sufficient cash to cover personal and family living expenses.
The program “Golden Visa” can participate in 3 generations:
- the main applicant;
- the spouse of the applicant;
- children of spouses under the age of 18 (children over 18 should be financially dependent on their parents, not married);
- parents of the main applicant who are dependent on him.
- requirements for accommodation: visa D (1 year) + 2 years + 5 years. After 5 years you can get a permanent residence if the applicant has met the requirements of residence in the country (4 years and 2 months within the last 5 years). Citizenship – after 10 years of residence in Spain.
- real estate requirements: the investor must retain the property for 5 years – until receiving permanent residence. Real estate can be rented, which is a significant advantage.