Spain Residence Permit Programme with Open Window

Spain Residence Permit

To live by the seaside and travel to Europe visa-free

Spain residence permit by investment: key points

The Spain residence permit by investment program was launched in 2013 with the adoption of law 14/2013 on support for entrepreneurs and their internationalisation.

The government offers six investment options for a residence permit, including buying real estate, placing a deposit

in a Spanish bank, purchasing securities, or investing in a business.

The initial investment can be returned to the investor after they are granted permanent residence in Spain or decide to give up their residence permit. Only investors who have lived in Spain for at least five years are eligible to apply for permanent residence.

Since 2013, more than 25,000 investors and their relatives have been granted Spain residence permits, giving them the right to live, work, conduct business, and study in the country. Residence permit holders can apply for citizenship after living in Spain for at least 10 years.

5+ months Timeframe for getting a residence permit

€500,000 Minimum investment

8 facts about Spain

Madrid

The capital of Spain has
a population of 3.3 million and is the second most populated city in the EU after Berlin

504,782 km²

Spain is the largest country by area in Southern Europe. It occupies 80% of the Iberian Peninsula, the Canary and Balearic islands, and also owns a territory in North Africa

47.4 million people

The population of Spain multiplies by about 100 million tourists who visit the country annually

320+ days a year

The sun almost always shines in Costa del Sol, a fashionable resort area in Spain

Spanish

The country’s official language is the third most popular language in the world. 400 million people speak Spanish

+21…+27℃

The water temperature off the coast from July to September

In the top 10

Spain ranks high in the World’s Best Places to Retire in 2023.

$30,537

Spain’s GDP per capita in 2021 is comparable with Malta’s and Cyprus’s but 50% lower than Austria’s and Germany’s

Residency-by-investment program conditions

High-net-worth individuals can be granted Spain residence permits after investing in the country’s economy. They can choose one of the following six investment options:

€500,000: purchase a residential or commercial

property;

€1,000,000: place a deposit in a Spanish bank;
€1,000,000: purchase shares in Spanish companies;
€1,000,000: purchase units in investment or venture funds;
€2,000,000: purchase government bonds;
Open a company in Spain and invest in it according to the business plan.

Purchasing real estate is the most popular option. The investor buys one or several properties to live in or rent out.

Residence permit holders can but are not required to live in Spain. However, you need to maintain your initial investment to renew the residence permit. The initial investment can be returned under the following circumstances:

The residence permit holder can sell their investment

or close their deposit account anytime. However, this also results in the residence permit being revoked.

After five years of living in Spain, you can apply for permanent residence. A Spanish permanent resident can then sell their investment or close their deposit account and, at the same time, keep their status.

Who can apply for a Spain residence permit by investment?

Investor

Over 18 years old
With a proven legal income No criminal records
No visa denials
No outstanding debts in Spain
Money to be used for the investment must have been earned outside of Spain
With a valid medical insurance policy

Spouse

In an officially registered marriage or an unregistered partnership with the investor

Children under 18 years old

Unmarried
No children of their own Financially dependent on the
investor or under their guardianship

Parents

No age limits
Financially dependent on the investor or their spouse

Benefits of the Spain residence permit by investment

Visa-free travel to the Schengen countries Investors with Spain residence permits can travel to other Schengen countries for up to 90 days out of 180 days without a visa. The time spent in Spain doesn’t count.

Moving to Spain or creating a safe haven The residence permit allows the holder to travel to Spain anytime, even when tourists with valid visas are not allowed to enter, for example, during a pandemic. You can live in Spain or visit from time to time.

Opportunity to work and do business in Spain A holder of the Spain residence permit by investment can obtain a work permit or start their own company in the country.

Education and medical treatment in Europe The investor’s children can study at Spanish schools and universities without student visas. All the investor’s family members included in the application can be treated in hospitals and medical clinics in the Schengen countries without applying for a medical visa.

Possibility to apply for permanent residence and citizenship An application for permanent residence can be submitted after five years of living in Spain. Permanent residence is valid for life, although the residence card must be renewed every five years. You can apply for citizenship after 10 years of living in Spain. Spain does not usually recognise dual citizenship: applicants have to give up their first passport to get the Spanish one. Spain only allows dual citizenship for citizens of France, Andorra, Portugal, and some Latin American countries.

Investor’s expenses

1 Purchase real estate €500,000+

An investor can buy one or several residential or commercial properties in Spain. The investment amount does not depend on the number of family members applying for the residence permit with the investor.

Cost	Amount
Real estate purchase	€500,000+
Purchase tax paid by the buyer	For new buildings 10% — VAT 1.5% — stamp duty For resale properties 6—10% — a property transfer tax For commercial properties Up to 25%
Notary fee	€600—1,000
Registration fee	€400—650
Health insurance	€1,000+ a year per person

Step by step procedure

1 day

Preliminary Due Diligence check

A certified Anti-Money Laundering Compliance Officer conducts a preliminary Due Diligence check to identify potential issues and reduce the risk of the residency application being rejected. Our preliminary Due Diligence is a mandatory step: without it, Immigrant Invest does not conclude an agreement with the investor.
Our check takes one business day, and the investor needs to provide us only with their passport. The process and information found on our client are kept confidential and used only to prepare the documents required to participate in the residence by investment program.

1 day

1 to 4 months

Buying real estate

Our real estate specialists assist the investor
in selecting the property for purchase. We check that there are no legal claims by third parties on the properties that we recommend and the reliability
of the properties’ developers and sellers.

The investor can examine the properties during a trip to Spain or remotely through photographs and videos.
An attorney acts on the investor’s behalf in Spain by proxy prepared by Immigrant Invest’s Legal Department. The attorney gets an individual
taxpayer number for the investor. Real estate cannot be purchased in Spain if the buyer does not have
a Spanish taxpayer number.
The lawyers check the terms of the sale and purchase agreement, considering the investor’s interests. When the documents are ready, the investor or their attorney by proxy signs the agreement. In either case, a lawyer from Immigrant Invest also follows up on the transaction.
We register the sale and purchase agreement with the Spanish Land Registry when the deal is closed. The investor receives a title deed.

1 to 4 months

3 to 5 weeks

Preparation of documents and application

Documents for residency application are prepared simultaneously with the purchase of real estate.
The investor collects the required documents specified by our lawyers and buys a medical insurance policy.

The lawyers fill out the application forms, translate the documents, notarize copies, and assist the investor with payments of fees and taxes.
The lawyers apply for a residence permit online on the investor’s behalf. The investor needs to be physically present in Spain when the application is submitted: they can enter the country on
a Schengen visa.
After applying, the investor and their family members included in the application submit their fingerprints at a police station. Our lawyers accompany them.

3 to 5 weeks

Up to 20 days

Receiving residence permit cards

Applications for residence permits are processed within 20 days. After approval, our lawyers accompany the investor and their family members to the police station to collect their residence permit cards.

Up to 20 days

Spain Residence with Open Window

Open Window helps investors get residence permits in Spain and other European countries: 99% of our clients’ applications are approved.
We accompany investors from the first consultation to renewing their residence permit cards several years later.
We also provide additional services: help to select a suitable property, open a bank account, apply for tax residency, and get residence permits for additional family members at a later stage.