You can apply for permanent residency after living in Spain for five years
You can apply for permanent residency after living in Spain for five years

Is it possible to get residency in Spain by buying property?

Spain encourages foreign investments, so any non-resident from the UK, the United States, or the European Union can buy property in Spain. Read on for more information and see what you need to do to qualify for residency in Spain by buying property.

Delia Mihuț
Written by: Delia Mihuț
Published at 2023-08-04
Last updated on 2024-06-11
Readtime 3 minutes

Do you like Spain so much, with its relaxed way of life and incredibly delicious food, that you have decided to invest in a property here? The good news is that there is a possibility to extend your Spanish dream for as long as possible.

Read on for more information and see what you need to do to qualify for residency in Spain by buying property. 

Can I get residency if I buy a property in Spain?

In April 2024, Spain decided to end the Golden Visa program that allowed non-EUR investors to live, work, and study in Spain by investing in real estate. 

However, buying a property in Spain can be part of your residency strategy, but this implies a different approach, like applying for a business visa, a non-lucrative visa, or a Digital Nomad Visa.

How do you qualify for residency in Spain?

The requirements are different depending on the type of visa you can require. There are some common generalities applicable to every case:

  • the absence of criminal records
  • health coverage 
  • passport 
  • your documents must be legalized and translated into Spanish by a sworn translator

If you plan to live in Spain, you can apply for permanent residency after living there for five years. 

How can I get Spanish citizenship through investment?

It’s not possible to get Spanish citizenship only through investment.

To qualify for Spanish citizenship, you must live in the country for at least 10 years.

Besides that, you must pass two exams to confirm proficiency in Spanish at A2 level or higher and prove your knowledge of Spanish cultural and legal life. 

It’s important to note that you must give up your first citizenship to obtain Spanish citizenship. However, exceptions are made for citizens of France, Portugal, Andorra, and several Latin American countries where Spanish is an official language.

Is there an easier way to apply for residency in Spain from abroad?

Obtaining residency is usually more difficult for non-EU citizens. You are entitled to stay in Spain for a maximum of 90 days, after which you can apply for a visa.

Buying property in Spain can be a significant part of your residency strategy, but keep in mind that this will ease your path to citizenship in the long term, as this approach no longer involves the Golden Visa Scheme. 

Is it easy to buy a property in Spain as a foreigner?

The process can be much more straightforward if you have a foreign identity number (NIE) and have found your desired property.

Spain encourages foreign investment, allowing any non-resident from outside the EU, including those from the UK, the United States, Australia, or Canada, to buy property in Spain.

Discover all your answers when buying a house in Spain as an American. Our guide covers everything you need to know to make an informed decision. On the other hand, if you’re looking to buy property in Spain from the UK, continue reading to learn about the process, requirements, and valuable tips for your purchase.

Is it hard for a foreigner to access a mortgage in Spain?

A mortgage can expand your property budget and solutions like Homevest can assist you, simplifying the process of obtaining a mortgage in Spain directly from abroad.

Accessing a mortgage could be more challenging for non-EU citizens, but with the right help, you can have a straightforward experience.

When applying for a Spanish mortgage as a non-resident, keep in mind that lenders take into account several key aspects, including:

  • income stability
  • employment history
  • credit score
  • residency status
  • debt-to-income ratio (DTI)
  • down payment capacity
  • the type and value of the intended property

How do you choose the best Spanish mortgage for non-residents?

Santander and Sabadell are more flexible and accept non-residents from various nationalities, including the UK and the US. Banca March is a great lender for those with a high net income, offering tailored solutions.

If you are determined to buy a property in Costa del Sol, you can borrow between 80,000 and 1,000,000 EUR from Cajasur, a bank specializing in serving such preferences.

Is there a way to accelerate buying a property in Spain directly from abroad?

Homevest is an easy, fast, and free solution for requesting credit offers from banks in Spain to compare and choose the final product.

This digital solution offers assistance in preparing documents and submitting applications to banks seamlessly, with no requirement to pay extra fees or commissions. It is a cost-free service, tailor-made to help you secure the best price in the market.


Carefully analyze the offers provided by the banks and simplify the process where possible. Homevest can be a reliable support that accelerates the process of buying a property in Spain directly from abroad.

If you decide it's best to buy a property in Spain to let, understanding the dynamics of the property market, as well as the associated taxes and costs, is crucial. Each autonomous Spanish region has its own rules for renting out property, including through Airbnb or other platforms. For instance, as a non-EU-based non-resident, you are subject to a 24% tax rate.


Sources used and checked in April 2024:

  1. The end of the Golden Visa scheme in Spain
  2. Spain citizenship

We recommend obtaining professional or specialist advice before taking or refraining from any action based on the content in this article. The information in this article does not constitute legal, tax, or other professional advice from Homevest Limited. Prior results do not guarantee a similar outcome. We make no representations, warranties, or guarantees, whether express or implied, that the content in this article is accurate, complete, or up to date.

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