In order to make a successful application, you will need to take the following steps:
- Make sure you have a valid passport
- Likewise, Birth Certificate
- You must spend a minimum of € 500,000 (net of taxes) on a Spanish property free of any loans. Any existing charge or mortgage must not bring the net investment below the minimum amount specified. For example, let’s say you purchase a property valued at € 650,000. Then any mortgage may not be above € 150,000. If you purchase a property together with a spouse, family member or other third party, the investment of each individual must be equal to or greater than € 500,000, so you cannot obtain two visas with an investment of €500,000. To obtain two such visas, an investment of €1,000,000 is required.
- Evidence of the investment is demonstrated by production of the property deeds. The deeds must display the purchase costs of the property, and the deeds should be accordingly registered in the Land Registry. The deeds should be presented together with a certificate demonstrating that no additional mortgages have been granted on the property.
- You will need a bank account with a minimum balance of €25,000 and the existence of the account must be verified by a certificate issued by the bank.
- The investor must not have a criminal record in the country of origin nor in the last place of residence before coming to Spain, nor indeed in Spain. A certificate will be required showing that you are free of a criminal record, as issued by the relevant authorities and with a date of emission no greater than 90 days before the date of application.