Beneficiaries of the right of a permanent resident permit for real estate owners, which shall be renewed every five years, are also third-country citizens who purchase a plot of land or acreage and proceed to erect a building, provided that the cumulative value of the land purchase and the contract with the construction company is at a minimum of 250,000 euros. If the acquisition price of the property is 250,000 euros, you are entitled to a Golden Visa. It could be only a plot and in case, as yours, that the piece of land costs less than 250,000 euros, you should proceed to development. You are entitled to the residence permit, under the condition that for your application you submit the acquisition contract of the plot together with a construction contract and the related invoices legally paid off. The value of land on the contract plus value of paid invoices, excluding VAT, should be at least 250,000 euros.
