Residence permit in Spain by purchasing real estate

Do you dream of obtaining a residence permit in Spain? We have great news for you! It has been three years since, in the fall of 2013, a very important amendment was made to the "Law on Entrepreneurs", which is of great interest to foreigners wishing to obtain a residence permit in this wonderful country. In this article, we will introduce you to this aforementioned amendment in detail and tell you how you can obtain a residence permit in Spain for yourself and your family. At the end of September 2013, the Spanish government made a number of amendments to the "Law on Entrepreneurs". Among them is an amendment that concerns obtaining a residence permit for foreign citizens wishing to purchase real estate in Spain. Article 63 of this Law states that real estate purchased by a foreigner in the amount of at least 500 thousand euros will be a guarantee of success, that is, it gives you a residence permit. In addition to purchasing real estate, this article also talks about investing in Spanish securities. Citizens of countries that are not part of the European Union can obtain a residence permit using these methods. Thus, we can safely say that Spanish real estate from half a million euros is your residence permit in this country. Experts say that the above-mentioned Law may not end with these amendments. In their opinion, although in the distant future, but still in the future, buying real estate in Spain can lead you to obtaining citizenship in this country. And this, you must admit, is very tempting! With a residence permit for 500 thousand euros, everything seems clear. You bought an apartment in the center of Barcelona or a house in Madrid – and a residence permit is already in your pocket. But there are several more options for legally obtaining a residence permit. However, they also concern costs with a considerable number of zeros at the end. Let's look at them in more detail. Foreign citizens who are ready to invest significant investments can also obtain a residence permit in Spain. If we are talking about securities, the investor must have a starting capital of at least 2 million euros. If a foreign investor wants to participate in Spanish enterprises, the amount should be at least one million euros. It is also encouraged to place funds on bank deposits in Spanish banks. There is another option when a foreigner can obtain a residence permit in Spain. To do this, he needs to participate, as an investor, in a business project that will be aimed at the economic development of Spain, will provide some national interest for this country. In order for you to be able to determine whether the project in which you want to participate as an investment will be interesting for the Spaniards, carefully study these three conditions. First, the project must create jobs. Second, attracting investments, the main goal of which is the socio-economic development and development of the city or region of the country in which the enterprise or company itself operates. Third, financial support for scientific research and (or) innovative technologies. The third point is very interesting and quite unusual for Ukrainians. After all, in Ukraine you will not find support for science or technology in any mandatory clause. But in fact, it is great that the Spaniards care so much about this area. So, we have considered with you all the possible options for obtaining a residence permit in Spain, which were opened to us by the "Law on Entrepreneurs". Of course, everyone will choose the most suitable one for themselves, but you must agree that the option with buying real estate is the cheapest and most attractive. There are always risks in starting a business or investing in a business. Of course, if you are lucky, then over time you will not only recoup your million or two, but also increase it. But for those who do not want to take risks, but want to live in Spain, an apartment, house, villa or other type of real estate for 500 thousand euros is the most suitable option for obtaining a residence permit in Spain. When this Law was first adopted, a residence permit was granted only to the investor himself, his wife and minor children for two years. Now only three years have passed and the conditions for obtaining a residence permit have become even more attractive. Now a common-law wife or husband, and parents, and adult children who are still financially dependent on their parents can obtain a residence permit. The figure for the validity period of the residence permit has also changed, it is now five years instead of two, which is good news. After this period has passed, the residence can be easily renewed. In order to renew the Spanish residence permit, the investor will need to confirm his financial and economic status, backing this up with a history of banking transactions. In addition to Spain, there are several other countries in Europe that provide residence permits to foreign citizens in the same way. Their practice shows the following: the minimum amount for purchasing real estate falls over time. That is, we can expect that 500 thousand euros will turn into more affordable prices after some time. After all, initially, when the Spanish government was preparing this bill, the amount was 160 thousand euros, but by the time it came to the final signature and seal, the amount was fixed at 500 thousand. But, you know, this does not scare foreign citizens. Statistics on the purchase of real estate and obtaining a residence permit in Spain over the past couple of years indicate that more than 500 buyers have already done this. There are also figures for investors. There are about a hundred of them. Thus, foreigners, buying expensive housing in Spain and investing large financial investments in this country, have already invested a total of more than a billion euros. Also, data from experts and the Spanish Ministry of Finance indicate that thanks to such attraction of foreign investors to the country, 12 thousand new jobs have been provided in Spain. Also, experts claim that under the terms of this law, it is better to invest money in real estate and get your residence permit without problems than to engage in investing in companies. And they also note that there is a very pleasant surprise in all this, so to speak, an indulgence from the Spanish government. We are talking about the fact that the amount for the purchase of real estate in the amount of 500 thousand euros may not be a single payment. That is, you can buy real estate over time and when the total is 500 thousand, you will receive a residence permit. Purchases made before the adoption of the article of this law are also taken into account. If you have fallen in love with this method of obtaining a residence permit, then we will be happy to help you. Our foreign real estate agency will be happy to select real estate for you in any corner of Spain and you will be able to easily obtain your residence permit, and if everything goes well in Spain, then God willing, maybe even citizenship. Contact us, call, write. We are always at your service. Organizing a residence permit for you in Spain is not a problem for us!