Can I live in Spain permanently if I buy a property?

Can I live in Spain permanently if I buy a property?

If you are a regular reader of our blog here at Property Sotogrande, the chances are that you will already know there is no shortage of excellent reasons to buy a house in Sotogrande. But as someone dreaming of owning a property in Spain, you might already have designs on living there permanently.

In that case, you may be able to make your ambitions of living in Spain for good a reality, through the purchase of a property here.

In this article, we will explore the process of purchasing a property in Spain as a foreign buyer and what it takes to become a permanent resident in the country.

Is permanent residence a possibility for me if I purchase a Spanish property?

The simple answer is that yes, subject to certain requirements, you could live in Spain on a permanent basis if you purchase a property here, thanks to the Golden Visa scheme.

If you do satisfy the conditions for a Golden Visa, this residence permit will be renewable every two years – and after five years, you will be able to gain permanent residency in Spain. After 10 years, you could even opt to become a Spanish citizen.

What are the criteria for a Golden Visa?

There are certain criteria that you will need to meet in order to become eligible for the Golden Visa.

There are particular investments that you can make, with one of the options being the purchase of real estate in Spain that is worth a minimum of €500,000. This value can be split across one or more properties – for example, you could buy a house and a garage, as long as the total combined value exceeds the €500,000 requirement.

What are the benefits of the Golden Visa?

The Golden Visa programme is an incredibly attractive option for those looking to live in Spain permanently, and some of the main benefits include:

• It’s a faster route to permanent residency

The main advantage of buying a property and applying for residency through the Golden Visa scheme is that it’s a much faster option than going through the regular permanent residence application process for Spain.

• It allows relatives to join you

The Golden Visa scheme also allows you to bring your family members with you – again, subject to certain requirements. So, if you’re looking to move to Spain permanently with your partner and children, the Golden Visa scheme could make that possible.

• You will be able to work in Spain, and access public services

You might like the idea of basing yourself in Spain permanently as a professional after you buy a house in Sotogrande. Or perhaps you are anxious to ensure you and your loved ones will be able to take advantage of public services in Spain, such as state healthcare and schooling?

Whatever the situation for you and your family, these are further benefits that you will be able to unlock as a Golden Visa holder.

Final thoughts

Purchasing property in Spain as a foreign buyer is an attractive option for those looking to move to the country permanently, and can open up a range of benefits. If you are looking for a faster way to become a permanent resident in Spain, the Golden Visa scheme could be the perfect solution.