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El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche.

Legal tip 1496.Reasons to support the Petition for the Spanish Property Owners Visa
Monday, January 29, 2024 @ 9:59 PM

Are you a non-European Economic Area (EEA) citizen who has purchased or is considering purchasing property in Spain? Do you aspire to reside in Spain but are challenged by the limited visa options for non-EEA nationals? If so, keep reading to discover Costaluz Lawyers' innovative proposal for a new visa type: the Spanish Property Owners Visa.

This idea excites you, doesn't it? Show your support by signing our petition. We are on the verge of reaching 5,000 signatures, a milestone that will significantly amplify our voice in the media and persuade the Spanish government to consider this new visa!

But first, let’s delve into why this visa is so crucial.

Investment Destination of Choice Spain is a top destination for foreign property investment, especially among Northern Europeans. Non-resident buyers make up about 19% of all property transactions in Spain, a figure that soars in tourist-favored areas like Costa del Sol, Costa Blanca, Balearics, and Canaries.

Did you know? A minimum investment of €500,000 in Spanish property is required for a Golden Visa.

Who’s Buying in Spain? The majority of property buyers are from the EU, with British nationals leading the group before 2021. Post-Brexit, the non-EU market share, including British buyers, has risen significantly, altering the dynamics of property investment in Spain.

Post-Brexit, British nationals can only spend 90 out of every 180 days in Spain without a residence permit.

Economic Impact of Property Investment Foreign property purchases in Spain contribute immensely to the economy, encompassing the purchase price, taxes, fees, and ongoing maintenance costs.

More Spending by Non-EU Nationals Non-EU nationals stand out as major economic contributors through their property investments, spending more on average per square meter than other non-resident buyers.

Straightforward Purchase, Complex Residency While buying property in Spain is relatively easy, obtaining residency for non-EU nationals is complex and demanding.

Visa Options for Non-EU Nationals Currently, non-EU individuals looking to retire in Spain can opt for either the Golden Visa or the Non-lucrative visa, both requiring significant financial investment or proof of income.

SIGN NOW Our Proposed Solution: The Spanish Property Owners Visa Recognizing the key role of non-EU buyers in Spain's property market, Costaluz Lawyers proposes a new visa, specifically for non-EU property owners seeking residency without the hefty financial requirements of existing visas.

Requirements for the Spanish Property Owners Visa:

  1. Ownership of a property in Spain for a minimum of three years before effetive Brexit date: 1 de mayo de 2021.
  2. Proof of a monthly income of at least €1,130: National minimum wage
  3. Standard health insurance and criminal record checks would also apply.

A Win-Win Scenario This visa is beneficial for both parties:

  • Spain enjoys increased investment and spending by these new residents.
  • Non-EU nationals gain easier access to Spanish residency.

Our Goal : With nearly 5,000 signatures, our petition is gaining momentum and attracting media attention. We aim to influence the Spanish government to make this a reality. Sign and share the petition to support non-EU property owners in Spain.

Stay informed by subscribing to our newsletter!

SIGN NOW Thank you!


Like 1


jdb4 said:
Sunday, February 4, 2024 @ 10:24 AM

This would be great and a fair option to those of us who have sunk lots of money into the Spanish economy. The current situation is very unfair on non resident property owners. Surprised that France has been so punitive recently and didn't see fit to over turn the 90 day rule. I was hoping it would have set the precedent for Spain and Portugal to follow.

patandterry said:
Sunday, February 4, 2024 @ 8:15 PM

I dont understand (nor agree with) the income requirements of the petition. For example, we are on basic government pension which may be less than the income threshold, but have substantial savings to be financially secure So why should we be penalised on basis of minimum income requirement, as in this basis we could not sign the petition

mariadecastro said:
Monday, February 5, 2024 @ 12:28 PM

Taking the example from France into consideration, you both have a valid point. I appreciate your feedback regarding the income threshold for the petition. In light of this, I will work on initiating changes to the petition process, excluding the income threshold requirement. This will ensure a more inclusive approach that takes into account various financial situations and the French precedent.

We will keep you updated on the progress of these changes.


tonyl said:
Tuesday, February 6, 2024 @ 12:42 AM

Would this visa require you to be resident in Spain most of the year and become tax-resident, or would you be able to spend no more than 183 days a year in Spain. I would prefer not to become tax-resident in Spain.

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