Hello everyone, I’ve seen a lot of questions on the forum lately about buying property and getting residency in Spain, and the information seems a bit scattered. Since I just went through this process last year, I thought I’d start a thread to share my own experience and what I’ve learned about the non-lucrative visa. I hope this can help anyone who needs it. I’ll skip the mistakes I made and get straight to the point!
The popular topic of “buying a house to get residency” usually refers to Spain’s “Golden Visa,” officially known as the Investor Visa. The core of this policy is to obtain a residence permit through investment, with purchasing real estate being the most common route. It’s worth noting that while there have been rumors of changes to this policy in recent years, it is still in effect as of now.
Core Application Requirements
To apply for the Golden Visa, it’s not as simple as just having the money to buy a house; you also need to meet some basic criteria:
Investment Requirement
- Purchase real estate valued at €500,000 or more. This amount can be the total of one or multiple properties. The key point is that this €500,000 must be a pure investment, free of any loans. You can only apply for a mortgage on the amount exceeding €500,000.
Personal Requirements
- The applicant must be at least 18 years old.
- Have a clean criminal record in Spain and any country you’ve lived in for the past 5 years.
- Purchase public or private health insurance in Spain.
- Provide proof of sufficient financial means to support yourself during your stay in Spain.
Many people confuse the Golden Visa with the non-lucrative visa. They are two completely different pathways. I’ve created a simple table to help you compare:
| Feature | Golden Visa | Non-Lucrative Visa |
|---|
| Investment Threshold | €500,000 property investment | No specific investment amount, requires proof of sufficient passive income |
| Work Rights | Allows work and business | Does not allow work |
| Residency Requirement | No minimum stay required | Must live in Spain for at least 183 days per year |
| Renewal Cycle | 2+5+5… | 1+2+2… |
The whole process isn’t overly complicated, but the details can be tedious, especially concerning the property transaction and legal documents. I personally strongly recommend hiring a reliable lawyer to guide you through the entire process; it will save you a lot of trouble. From selecting a property and completing the transfer to submitting the visa application, a lawyer’s role is crucial. I hope this information is helpful! If you have other questions about buying property in Spain, feel free to leave a comment below for discussion. Let’s exchange ideas!
