Buy A House In Spain And Get Citizenship
Spain Golden Visa is neither a visa nor a citizenship program. The program offers residency permits to those that invest in Spain. It is not designed as a program for outsiders to get citizenship. Basically put, the foreign investors already interested in buying property in a different country than theirs can get a real estate in Spain and expect to get some benefits in return. Perhaps the most important benefit of this program is the allowance of a residence permit to the investor and his/her immediate family. One should invest in Spain with a minimum amount of 500.000 Euros to apply to the Golden Visa though, so it is natural to expect some returns on your investment other than its economic benefits.
buy a house in spain and get citizenship
Permanent residency can be identified as the next best thing to having actual citizenship from a country. One does not necessarily identify as a citizen of that country yet, but technically they do live as a citizen of the country in most regards. 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. This means that your investment in Spain is now well on its way to get citizenship for you too.
People that chose to invest in Spain using a Golden Visa scheme can, if they prefer to, apply for Spanish citizenship after 10 years of the initialization of their investment. At this point as long as you can prove that you were a citizen of the country for 10 years you will be reviewed for citizenship and a new passport. Moreover, ever since you had your permanent residency, and especially when you get your citizenship, the investor can actually dispose of their initial Golden Visa investment in Spain to perhaps look for new opportunities elsewhere.
It is possible to apply for permanent residency in Spain after living in the country for five years. Citizenship can be applied for after living full time for ten years. Although the temporary residency permit (the golden visa) can be easily renewed without living in the country, the route to both permanent residency and citizenship requires the investor and their family to reside in Spain. For this reason, the Spanish Golden Visa programme is popular with those applicants who either wish to reside full time in Spain or simply maintain a second residency in Europe but without a path to citizenship. Investors looking for potential European citizenship are advised to consider the Portugal Golden Visa program.
The key disadvantage is the inability to apply for Spanish citizenship without a period of residency in Spain. Our clients prefer that flexibility not to have to reside and that is one of the key reasons why Portugal remains more popular than Spain for Golden Visa investors.
La Vida has extensive experience of all the Golden Visa programmes in Europe. In addition to Spain we can advise on Portugal, Malta, Greece and Turkey. We also offer citizenship by investment options in the Caribbean. La Vida has extensive global reach with our expert team having helped clients in over 150 countries worldwide.
The steps to follow when buying a house are not always intuitive. In addition, it is necessary to have clear which taxes and expenses we will have to pay to acquire the house.
Yes! If you are British and you are thinking of buying a house in Spain to retire you are still allowed to do so. However, you will be subject to the Non-EU regulations, which make the path of buying property in European Countries a little bit more complicated. Applying for a Spanish Non Lucrative Visa might speed the process of purchasing the house.
Hi Evie!Our situation is very similar! we dont want to work in Spain but I have the same citizenship situation and my husband and kids the same as you! We also want to move to Costa Blanca from the Wash DC area. Please let me know how you get on.Hope to see you on the Costa Blanca!Cheers!
HiMy husband and I have lived in Cyprus for 22 years but want to sell our property here and buy in spain. We have residency here and on the national health scheme. Do we still have to reapply for all this again in spain. ThankyouBarbara.
Hello,I am a German resident , working as dentist. I want to buy a property in Mallorca. I have enough money to pay for more than 35 percent forthe property I choosed to buy. Can you please contact me so I can ask you about the next steps for this. Or is it possible to take mortgage from a spain bank?
Hey!Im from Morocco and would like to buy a flat in spain around 50k Euro , is this will guarantee me a residency card?Can i buy a property in spain when the only way to enter spain is by tourist visa?
can americans buy property in spain? What do I have to do? I am in love with Ibiza and I would like to buy a property there to spend 4-5 months there, can you help me with the whole process? I would like your advice on the whole process of buying my summer house.
In addition, there are other requirements for obtaining Spanish citizenship, such as knowing the language and having ties to the country. A Spanish passport will give the holder access to the EU job market and visa-free access to over a hundred countries.
There is no need to officially live in Spain to enjoy the golden visa benefits, unless you plan to apply for full Spanish citizenship in the future. In that case you are required to spend 6 months per year in Spain.
Blanca International Real Estate specializes in sales of luxury villas, apartments and townhouses in Javea and surrounding areas on the Costa Blanca North. In addition to sales our services include property administration, the sale of commercial and investment properties, including development land, as well as consulting services for investors and developers.
After ten years in Spain you are entitled to apply for citizenship, which bestows upon you the same rights as Spanish citizens. A shortcut to the ten-year waiting period is by marriage to a Spanish citizen.
Yes, any foreigner can purchase a house in Spain. Nevertheless, there is one difference. In case you are not a Spanish national, you will need to take one extra step prior to the purchase.
When carrying out this search, you must take into account several aspects, such as the city or town in which the house is located, the surroundings and how close you will be to places such as public transport, shopping centers, hospitals, etc.
But if you are a young individual we have some good news for you. Because if you are under 32 and you declare that the house or flat which you are buying will be the place in which you are going to live, then that 10% turns into a 5%.
So you will have to pay for the house by making an international bank transfer if your money comes from abroad. Likewise, you should be aware that this type of transfer has a high cost due to the commissions set by the entity for the currency exchange.
This means that you only need to have a minimum of 20% of the available house price, in addition to approximately 15% extra on the cost of the house to pay taxes, lawyer, notary, property registration, etc.
If you still have doubts, good news. We have gathered in an article the 9 most frequent questions that our clients do to us when trying to buy a new house in Spain. Would you like to go over them? You can have access to the real estate questions and answers here.
My bank in Spain from whom we are buying a repossessed house to retire in is asking for my and my wives complete employment history and proof of National Insurance and tax deductions? We are both 58 and buying the property cash from the proceeds of our UK house sale. Proof has been given of the UK house sale and thus the money to buy the property in Spain is not through illicit means.Is this a legal requirement?
However, if you intend to apply for permanent residence, then you must live in Spain for at least five years without interruption (at least six months out of the year). If you ever plan to apply for Spanish citizenship, then you have to live in Spain for at least ten years.
Buying a house overseas might sound like an appealing option for retirement or occasional escapes from the U.S. As you might expect, buying international property is more challenging than buying a home domestically. With research and due diligence, however, you can buy a home overseas to enjoy now or in the future. Here are key things to know about how to buy real estate overseas.
If you have a local foothold, such as dual citizenship or a spouse who is a citizen, you may be able to qualify for a local mortgage. Obtaining a mortgage from a foreign bank may require a higher down payment and take longer to process.
According to Spanish nationality law, the residence permit leads to Permanent residency permit. Permanent resident card for 10 years then leads to Spanish passport citizenship after 5 years. That also gives you Citizenship of the European Union.
Acquiring a citizen status is the final step on your way of integrating into the society. In most European countries, to get citizenship, you are expected to live in the country for 5-12 years, have an impeccable reputation, a fluent command of the national language and have knowledge about the national history and culture. Throughout these years, your status will constantly change: first, you are granted a temporary residence permit, then you become a permanent resident and at least a year later, you apply for citizenship.
The Republic of Cyprus had granted European citizenship by investment for quite a long time until November 2020 when the programme was suspended. However, foreign citizens can still apply for permanent residence if they invest over EUR 300,000 in real estate in Cyprus. Other investment options include purchasing commercial property such as offices, hotels, shops, etc. 041b061a72