Lately, more and more friends on the forum have been asking about buying a house and getting residency in Spain. The enthusiasm is high! As someone who’s been through it, I’ve outlined the entire process, especially focusing on the two most popular paths: obtaining a Non-Lucrative Residence Permit and a Golden Visa through property purchase. I hope this helps you avoid some common pitfalls.
Preliminary Preparations: Identity & Funds
Regardless of which residency you’re applying for, two things are essential before you take the first step: an NIE number and a Spanish bank account. The NIE is your identification number for all economic activities here—you need it to buy property, sign contracts, and pay taxes. A bank account is fundamental for paying for the property and other associated costs. Once you have these two, you’re ready to start. As for which path to choose, it mainly depends on your budget and needs. Here’s a simple comparison:
| Item | Golden Visa | Non-Lucrative Residence |
|---|
| Property Investment Amount | €500,000 or more | No specific amount required |
| Work Permit | Allowed | Not allowed |
| Residency Requirement | Almost none | Must live in the country for 183 days per year |
| Passive Income Requirement | None | Proof of sufficient non-salary income required |
Core Steps (Non-Lucrative Residence): A Detailed Guide to the Buying Process
Once you’ve found a property you like, the real process begins. The property buying process in Spain is very standardized, and an agent or lawyer will usually guide you, but it’s always good to know what to expect. The steps are roughly as follows: Pay a deposit and sign a reservation agreement -> A lawyer steps in to conduct due diligence -> Sign a legally binding preliminary sales contract, at which point you typically pay 10% of the property price as a deposit for buying property in Spain -> Sign the final deed of sale at the notary’s office, pay the remaining balance, and get the keys! The entire process can take anywhere from 1 to 3 months, depending on the efficiency of both parties and whether a mortgage is involved.
Got the Deed, What’s Next?
Congratulations! Once you have the deed, you are officially a property owner in Spain! Now you can take your deed and other documents to start your residency application. For a Golden Visa application, the deed is your most crucial document. For a Non-Lucrative application, owning your own property serves as super excellent proof of stable accommodation and your intention to settle, significantly boosting your chances of success. Preparing the documents for this stage can be tedious, so it’s highly recommended to hire a reliable lawyer to help, which will save you a lot of hassle.
So that’s the general process I’ve compiled. Everyone’s situation is different, so there will certainly be variations in the details. For example, mortgages and taxes are complex topics in themselves. Feel free to discuss, share experiences, or ask questions in this thread. I’ll answer everything I know! I wish everyone the best in settling down in Spain! ¡Buena suerte!
