# buying property in Spain



## carriehen (Dec 23, 2013)

Hi,

I've heard that foreigners can buy property in Spain and receive citizenship. Does anyone have any information on this?

Carrie


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## xabiaxica (Jun 23, 2009)

carriehen said:


> Hi,
> 
> I've heard that foreigners can buy property in Spain and receive citizenship. Does anyone have any information on this?
> 
> Carrie


:welcome:

no that isn't the case at all

non-EU citizens can buy property of over 500,000€ free of mortgage & gain the right to live here/have residency here for 2 years

citizenship is an entirely different thing


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## zenkarma (Feb 15, 2013)

carriehen said:


> I've heard that foreigners can buy property in Spain and receive citizenship. Does anyone have any information on this?


You don't receive Citizenship, you receive a residency visa to reside in Spain for up to two years after which you have to renew. After 10 years legal residency you can apply for Spanish Citizenship.

The residency visa applies to Spain only, you do not have freedom of movement within the EU. You do not become an EU Citizen.

The minimum investment in property for non-EU nationals is €500,000.

More here:

Spanish residency visa for buyers who invest 500,000 euros in Spain | Engel & Völkers


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## TSN.IMM (May 13, 2013)

*Official info source of golden visa law*

Doe anyone know where I can find official information about this "500K Euro investment in property to get residency in Spain"? Any Spanish government website or authority I should contact to get an official copy? Thanks.


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## xabiaxica (Jun 23, 2009)

TSN.IMM said:


> Doe anyone know where I can find official information about this "500K Euro investment in property to get residency in Spain"? Any Spanish government website or authority I should contact to get an official copy? Thanks.


here's the official law - the govt makes everything public 

http://www.boe.es/boe/dias/2013/09/28/pdfs/BOE-A-2013-10074.pdf

articles 63 to 67


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## maxd (Mar 22, 2009)

can be more than one property too, accumatively


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## TSN.IMM (May 13, 2013)

xabiachica said:


> here's the official law - the govt makes everything public
> 
> http://www.boe.es/boe/dias/2013/09/28/pdfs/BOE-A-2013-10074.pdf
> 
> articles 63 to 67


Thanks, xabiachica!
I find the law terms are still very general and open for a lot of different interpretations depends on the position. For example:
- 500.000 Euros investment: is is the purchased value or the title deed value? Does it include or exclude taxes and fees?
- What are requirements to prove that the investment is free of liens or encumbrances?

Will there be detail implementation guidance, or that's it?


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## gus-lopez (Jan 4, 2010)

There is always lots of "wiggle" room in any laws they write to allow room to get the paper bag in. The only ones that are normally without ambiguity are the ones drafted to impose financial penalties on the people they are supposed to be representing.


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## snikpoh (Nov 19, 2007)

TSN.IMM said:


> Thanks, xabiachica!
> I find the law terms are still very general and open for a lot of different interpretations depends on the position. For example:
> - 500.000 Euros investment: is is the purchased value or the title deed value? Does it include or exclude taxes and fees?
> - What are requirements to prove that the investment is free of liens or encumbrances?
> ...


These two values are the same, surely? Unless black money is involved - which is illegal 

What you may be referring to is the cadastral value - an entirely different (and fictional) value IMHO.

I would also expect the figure to exclude any taxes or costs associated with the purchase.

The escritura will always mention and debts associated with the property and so I would expect the 500k figure to exclude these as well.

Basically, I suspect they want to see a property bought for 500k cash.


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## TSN.IMM (May 13, 2013)

snikpoh said:


> These two values are the same, surely? Unless black money is involved - which is illegal
> 
> What you may be referring to is the cadastral value - an entirely different (and fictional) value IMHO.
> 
> ...


OMG, I thought title deed value IS cadastral value (the value which is used for tax purposes)???
If not, then which value is the 500K referred to?
If an escritura free of debt is enough to prove then it's easy to show. Is there anyway I can find an escritura sample/form?


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## CapnBilly (Jun 7, 2011)

TSN.IMM said:


> OMG, I thought title deed value IS cadastral value (the value which is used for tax purposes)??? If not, then which value is the 500K referred to? If an escritura free of debt is enough to prove then it's easy to show. Is there anyway I can find an escritura sample/form?


If you read the link Xabiachica posted, it quite clearly says an investment in real estate of at least €500,000 , and then confirms what Snikpoh posted (translated)

"The applicant must prove to have a real estate investment of 500,000 euros free of any liens or encumbrances. The share of investment in excess of the required amount may be subject to liens or encumbrances."

I'm not sure what you hope to find in a sample escritura.


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## snikpoh (Nov 19, 2007)

Like in UK, the escritura or deeds are specific to each property. They detail the floor area, the make up in terms of patios etc., the owners (past and present), adjacent properties or land, price paid, etc. etc.

They usually also have a copy of the old IBI details of how the property was purchased (cheque, transfer, mortgage etc.) and may have details (eventually) of land registry.


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## TSN.IMM (May 13, 2013)

CapnBilly said:


> If you read the link Xabiachica posted, it quite clearly says an investment in real estate of at least €500,000 , and then confirms what Snikpoh posted (translated)
> 
> "The applicant must prove to have a real estate investment of 500,000 euros free of any liens or encumbrances. The share of investment in excess of the required amount may be subject to liens or encumbrances."
> 
> I'm not sure what you hope to find in a sample escritura.


The 500k investment is clear. However for each property there are at least two value figures: the purcharsed value and the cadastral value so it's not clear to me which figure will be used.
As a property buyer its not only the property itself but also the escritura we are buying so I think it'd be good looking at a sample.


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## snikpoh (Nov 19, 2007)

TSN.IMM said:


> The 500k investment is clear. However for each property there are at least two value figures: the purcharsed value and the cadastral value so it's not clear to me which figure will be used.
> As a property buyer its not only the property itself but also the escritura we are buying so I think it'd be good looking at a sample.


Now I'm confused and so, I think, are you.

You don't "buy" an escritura. This is simply a legal document to show who owns a particular property and the details of same. Just like the deeds to a property in UK.

They are merely a formal, written representation of the bricks and mortar that you have bought.

How good is your Spanish? My escritura (I have over 7 now for various properties) are all written in legal Spanish and cover several pages of text. My main escritura is over 30 pages now!


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## maxd (Mar 22, 2009)

You can buy more than one property, it does not matter but the total investment must exceed 500k euro.

An agent told me that some Russians are asking for example a 480k euro property to sell for 500k euro so they can get their residency.


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