Finest Luxury country estates in Andalusia
Blog

Obtain residency in Spain

In October 2013 the so called ‘Golden Visa law’ has been approved which offers residency permits for non European purchasers that invest 500.000€ or more in Spain. So if you are investing over 500.000€ in Country property in Andalusia, the Spanish government will make it fairly easy for you to reside here.

Country villa in Andalusia

The exact details and conditions are stated in the law:  la Ley 14/2013, de 27 de septiembre, and we would definitely advise you to contact your legal representative who can overview the possibilities and consequences for your specific situation.

The law is applicable for non-EU residents, not residing in a tax haven, whom by accreditation can certify to have invested a minimum of 500.000€. Once granted the applicant will have to reside in Spain for a minimum of 1 year.

Applicants must have a clear record

Roughly the following requirements have to be met

  • Applicant is no illegal resident in Spain
  •  is aged 18 or over.
  • Has no criminal record in Spain or other countries of residence during the previous five years.
  • Is not  liable to refusal of entry into countries with which Spain holds an agreement to this effect.
  •  Has its own medical insurance, valid in Spain
  • Has sufficient funds to support both the applicant and his/her family members during residency in Spain.
  • Pays for the application fee.
  • Has been in  Spain at least once during the period of authorisation.
  • Provides proof to be the owner of the property purchased
  •  Complies with all tax and Social Security obligations.

The initial Investor Residency Permit will be valid for two years. After this period, you would have to apply for a renewal of Residency. 

Please contact your legal advisor who can provide you with all the relevant information for your specific situation.

 

Oscar Ernstsen 07-02-2014 Villas & Fincas News