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How long do I need to hold my real estate investment for Spain’s immigration investment program?

I would like to participate in Spain’s immigration investment program by investing 500,000 euros in a real estate property. How long do I need to hold it before I can sell it? I do not want to jeopardize my eligibility for permanent residency.

  • Pellicer&Heredia Abogados
    January 16, 2019

    In the case of investment in a bank deposit (over 1 million euros), once you get the investor visa (the Spanish Golden Visa) and want to apply for a residency authorization within a year, a certificate from the financial institution must be presented verifying that the investor has maintained, or even extended, the initial deposit from the date of obtaining the investor visa. To renew the authorization, you must have maintained the conditions that gave rise to the authorization. Once this period of two years has expired, foreign investors who are interested in residing in Spain for a longer period may request the renewal of the residency authorization for successive periods of five years, provided that the conditions of the investment that generated the right are maintained. But the investment could be modified during the period of authorized residency, and will have to be show to the renewal period the investment accordingly to the minimum requirements of investment. In the first year of investment you need to hold the investment to apply for residency for two more years. After this first year – and during the residency period of two years – it could be modified, but to renew it to get five more years of residency, you will have to show the Spanish authorities the minimum requirements of investment.

  • Pellicer&Heredia Abogados
    December 17, 2018

    Accordingly to the question, in order to renew the rights to keep being resident, one will need to show that the investment has been made. It is possible to switch to a different investment. Whenever the permit needs to be renewed, one has to show the investment is in compliance with the requirements.