Ask A Question  | Learn more about Spain

How can I switch real estate properties and keep my resident permit?

I purchased a house in central Madrid last year and obtained my resident permit. Recently, I found a better real estate investment opportunity and I would like to switch my current house to the new one. How can I proceed without losing my permit?

  • Pellicer&Heredia Abogados
    February 18, 2019

    If the investment is modified during the period of authorized residence, it must, in any case, maintain compliance with the minimum investment of 500,000 euros. Once the first period of years of residency (which is two years) has expired, foreign investors who are interested in residing in Spain for a longer period may request the renewal of the resident permit for successive periods of five years, provided that the conditions that generated the right are maintained. The applicant must show that the investor owns the property or real estate for the minimum amount required, which arises to 500,000. I understand that there is no problem as long as it meets the minimum investment of Article 63, that is 500,000, as a resident permit will not be lost. The problem arises whenever you apply for a renewal, which means you will have to have the investment for property or real estate for the minimum amount. Without the minimum investment the residence will not be renewed.