Can an expat buy property in Spain?

Buy a villa in Spain

Buying a vacation rental may be more complex than it used to be, but Spain is a very welcoming country for foreign buyers, which limits the possibilities of common blunders when buying a home. .

The rules for buying property in Spain as an expat are relatively simple. Before buying, you will need a financial number, which can be obtained by going to a police station with your passport. This is usually processed the same day for Spanish or EU citizens, but may take a few weeks for others.

Spain also offers a Golden Visa program for foreign owners. Under this program, if you invest more than 500,000 euros in Spanish properties, you will get a residence visa. Golden Visas are primarily intended for retirees and vacation home buyers, but are particularly popular with investors outside the European Union.

In the first half of 2019, Spain approved 848 Golden Visas, with Chinese (272) and Russian (187) investors making up the majority of successful applicants. In total, this means that 4,941 people have received a Golden Visa since the program began in 2013.

What are the advantages of a Golden Visa in Spain?
The main advantage is to obtain legal status to enter and stay in Spain for at least one year as a holder of a resident visa. The applicant and his family are not required to prove that they have been in Spain for at least six months, even in the event of a renewal. The Golden Visa in Spain can be applied to the direct family of the applicant.

It is also possible to travel and move freely throughout the Schengen area. The Golden VISA can be renewed for two additional years.