Conditions for obtaining a residence permit in Spain

It is not surprising that Spain attracts not only those who are looking for a place for a summer holiday, but also those who plan to live here permanently. In this country, instead of winter cold, gray skies and snow, there is bright sun, warm sea and stable temperatures that rarely fall below 10-15 degrees. Let's consider what conditions are necessary to obtain a residence permit in Spain and what needs to be done to become part of this amazing country.

Immigration Options and Residence Permit Requirements in Spain

Spain offers several immigration programs, each with its own requirements for obtaining a residence permit. The country welcomes those who:
• Are highly qualified professionals whose skills are essential to the country's economy;
• Have a stable source of income outside of Spain, do not need employment, and are able to fully provide for themselves and their families;
• Invest in the Spanish economy and receive a Golden Visa based on their investment.

Of all these options, only the Golden Visa offers the most flexibility: holders can reside freely in Spain, travel around Europe without a visa, and are not limited in the length of their stay in the country.

Residence permit for specialists in Spain

Obtaining a work visa for specialists is one of the most difficult ways of immigration. Firstly, it is necessary to find an employer in Spain, secondly, the vacancy must be one for which there are no suitable specialists in the local labor market. The process of preparing documents for such a residence permit can take a long time and cause many difficulties.

In addition, it should be remembered that Russian diplomas are not always recognized in Europe, and knowledge and qualifications must be confirmed. Competition is also quite high, since citizens of Eastern Europe can work in Spain without additional complications, given that many countries in this region are already part of the European Union.

Residence permit for financially secure citizens

This method of obtaining a residence permit in Spain does not grant the right to work. The program participant must demonstrate their financial independence by placing enough funds in a Spanish bank account for themselves and their family. The minimum requirements may change every year depending on inflation.

As a rule, the main applicant is required to confirm an income of more than 2 thousand euros per month, as well as about 500 euros for each immediate relative. In practice, experts advise having at least 26 thousand euros in the account per applicant and 6-7 thousand euros for each family member, which is enough to ensure living expenses for a year.

Conditions for obtaining a residence permit in Spain through investment

One of the fastest and most reliable ways to obtain a residence permit in Spain is the so-called Golden Visa, which is granted for investment. To obtain such a visa, you must invest:
• at least 500 thousand euros in real estate in Spain, or
• 1 million euros in shares, units of Spanish funds, a bank deposit, or
• 2 million euros in Spanish government securities.

The most popular option is to buy real estate, which is chosen by more than 90% of investors. Currently, the largest number of buyers of real estate in Spain come from Russia and China.

What can you buy in Spain for 500 thousand euros

In order not only to obtain a residence permit in Spain, but also to do it with minimal costs, and possibly with the prospect of additional income, it is important to carefully approach the choice of the property to buy.

It is not necessary to limit yourself to residential real estate - sometimes a more profitable option may be to buy a commercial property. For example, this could be a store in the city center with a tenant who regularly pays rent, or an investment in a new building construction project at the initial stage.

Before moving on with the choice of the property, we recommend that you leave a request for access to our closed database, where we collect the best options for investing in real estate, especially for our clients.

Additional requirements for obtaining a residence permit in Spain

For those who want to move to Spain, there are additional conditions. European countries are actively working to protect their financial system from illegal money flows. Money laundering is a crime in most countries, and banks are required to check the origin of all funds.

Therefore, investors or independent professionals who do not have the right to work must be prepared to prove the legality of their income. Usually, it is enough to provide documents such as tax certificates, certified real estate purchase and sale agreements or rental agreements in the home country. All documents must be translated into Spanish.

It is also necessary to provide a certificate of no criminal record, which must be notarized.

Finally, you will need health insurance valid for the entire period of your stay.

GG Real Estate Barcelona supports its clients in the process of obtaining a residence permit in Spain and provides a full list of the necessary documents for registration.

All the detailed information is available on our website for legal services in Spain consulting-barcelona.com, where you can leave a request.

Contact us today to find out more about the possibilities of moving and buying a property in Barcelona and Catalonia.

Email: info@ggbarcelona.com

Phone: +34 622 071 118

GG Real Estate Barcelona is your key to exclusive real estate in Spain.