There are a few different ways to get a permanent residence permit in Spain, however, the main condition is to live in Spain for 5 years with a different visa. The most common ways for this are acquiring a Golden Visa, a non-lucrative residence permit, or a work permit.
One of the frequently asked questions on this subject in the minds of people who want to get permanent residency is “Can I buy permanent residency in Spain?”. The answer is yes. Acquiring Golden Visa and a non-lucrative residence permit is possible by buying a property or through investments.
How to Acquire Permanent Residence Permit in Spain for Investors?
Investors can acquire a permanent residence permit through a few different options. The Golden Visa program offers 4 different investment paths for residence permits. Most of the investors ask “Can I get residency in Spain if I buy a house?” because they want to settle in. The answer is yes.
There are many people who buy property without becoming a resident just to make a profitable investment in Spain by benefiting its buoyant economy and high tourism volume. But, buying property in Spain for residence permit is one of the most popular methods to acquire a residence permit.
If the price of the purchased property is over a certain limit, then that property is eligible to apply for a Golden Visa. If it does not meet the price required for the Golden Visa program, it can still be used for applying for a non-lucrative residence permit.
The non-lucrative residence permit is one of the most preferred methods to get a residence permit in Spain for non EU citizens due to low costs. But, the privileges provided by a Golden Visa and non-lucrative residence permit are different. For this reason, people with higher budgets generally prefer Golden Visa.
Other types of short-term residence permits like student visas can be used for obtaining a permanent residence permit as well. But, the time required to obtain permanent residency might change depending on the residence permit type. For instance, with a student visa, you are considered as living in Spain only during school terms. Hence, it takes longer to get permanent residency with a student visa.
For this reason, applying for a permanent residence permit through the Golden Visa program and the non-lucrative residence permit are the most preferred options.
Is It Hard to Get Permanent Residence Permit by Investment?
In Spain residence permit by investment isn’t very hard to get, as long as you comply with the requirements and procedures. However, it might seem complicated if you don’t know the rules and regulations or due to the existence of language barriers.
Spain’s residency requirements and Golden Visa conditions are easier than many European countries. As long as you have an expert who can guide you through procedures, you can easily buy property in Spain and get residency. For this reason, purchasing a holiday home or making a real estate investment become the most preferred methods to acquire Spain residency by investment.
When you think about Spain’s popularity as a holiday destination, with magnificent beaches and many more natural wonders, and a colorful lifestyle, it’s no surprise that people want to acquire a permanent residence by purchasing properties.
What Are the Advantages of Spain Permanent Residence?
Spain's permanent residence comes with many advantages and rights. You earn almost every right that Spanish citizens have in Spain by acquiring a permanent residence permit. These rights and advantages ensure permanent residence permit holders a comfortable lifestyle.
First of all, you can live and work in Spain for 5 years without having to renew your permit. Secondly, you will be able to benefit from public education and healthcare services. In addition to these, you can also travel freely between Schengen countries.
The right to vote, run for elections, and become an officer are among the excluded rights from the permanent residence permit. These rights can be earned by acquiring Spanish citizenship. You can apply for Spanish citizenship after living in Spain for 5 years with a permanent residence permit.
However, in order to acquire Spanish citizenship, you’ll have to renounce your own citizenship. A permanent residence permit in Spain provides you with every necessary right for a comfortable living without having to renounce your own citizenship.
Hopefully, this brief article has been helpful for you to understand Spain's residence permit system in general. You can contact us without hesitation for in-depth information and consultation on the subject. Our team of experts and legal consultants is ready to answer all your questions in your language.