Can I reside in Spain if I buy a real estate?

According to the regulation stated in the Section on “International Mobility” in the Entrepeneur Act nº 14/2013, September 27th, directed to facilitate the entrance and permanence in Spain of extracomunitarian foreign citizens, “non-resident foreigners who intend to enter Spanish territory with the purpose of making a significant investment of capital, will be able to apply for the residence visa or, where applicable, the one year residence for investors”.

Between the different investment categories, we can find “the acquisition of real estate in Spain with an investment of equal or superior value to 500.000 euros for each applicant”.

Can my family members reside in Spain?

The spouse or de facto partner, minors or children in an age group still economically dependent on the holder,  that don´t belong to a family unit by themselves, and ascendants in charge of the holder, that will join or accompany the investor, can request, jointly and simultaneously or successively, the authorisation and, where applicable, the visa, and will be authorized to reside in Spain.

What documentation I must gather and where do I have to present it?

In addition to the documentation proving the acquisition of the property, the investor and his/her family members must count on a public or private health insurance with an entity that operates in Spain.  They must have no criminal record and demonstrate economic means for all their family members during the period of residence in Spain. The residence authorisation will be processed in the Unity of Big Enterprises-Strategic Collectives. You can also apply from Spain to obtain this authorisation during the three month stay as a tourist, without the necessity of applying previously for the investor visa in the corresponding consulate.