Framework
As you are already aware, there is an option in several European countries to get a residence permit against investment for Non-EU citizens, in Spain there are three different ways, as follows:
- Investment in Real State for 500,000 EUR
- Deposit of 1,000,000 EUR in a personal account in a Spanish Finance Institution
- Investment in Spanish Debt (Deuda Pública) with fix interest rate for 2,000,000 EUR
The last two is a faster way with less steps but needs of a higher financial capacity, so it is more regular to go throughout the first choice. Also knowing of the crash happened few years ago in the Real State bubble, which left very attractive prices still and depending on the areas. We can assist you in all three cases since there are some steps in common.
First thing you have to do is get a Schengen visa and visit the country, in order to proceed there are several steps to fulfil as prelude to apply for a residence visa.
Second matter to think about is the type of investment in real state you want to do, we give you a hint, you can use your real state either for living or to make money on lease or can be for personal or industrial use.
In all cases you would need assistance from a local firm to ease and speed up the process, be careful since it is easy to get a “hidden bite” on the whole operative with such amount of money that will be traduced in an over cost on your side.
Process, since you apply for your first Schengen Visa until you have your finger prints, lasts around one year. During this time, you are going to be allowed for staying in Spain most of the time if you want it, but you will need to commute between Spain and China due to the requirements.
STEPSTONES
1. Schengen Visa
It must be applied at the Spanish consulate of your reference, depending on your actual registered residence. Tourist visa is the easiest way nowadays.
2. Fly to Spain
At this moment there are many direct flights to Spain from all over the world, from many major cities, mainly to Madrid and also to Barcelona.
3. Open a bank account
It is a key point if you want to operate in the country, usually you need a NIE (Spanish ID for foreigners) but in our case we can help you to arrange immediately with passport.
4. Private assistance and health insurance in Spain
It is compulsory for the approval of your residence hold private insurance, even if later you get access to the public health system.
5. Temporary NIE
In order to buy a property, you must hold a NIE, otherwise you cannot complete the transaction raising your purchasing contract to public in the notary office and register in the Property Registration Bureau (Registro de la Propiedad). We assist you to get this document and deal with the police.
6. Power of attorney
After you purchase your properties there is a period of time, from one to three months before it is officially registered under your name, if your Schengen visa allows you can stay but there is not much you can do and better go back to prepare the next steps at the consulate so for that reason and to handle any matter we usually ask for a Power of Attorney to operate under your name against several departments or even sign the purchasing contract under your name.
7. Quest and purchase of your properties
Spain is a big country indeed, so better have a clear idea before your trip otherwise you can be beating around the bushes for weeks. We can always give you tips and try to make your investment most profitable.
8. Applying for Non-Lucrative Temporary Residence Visa
After registration under your name is completed you must go back to your mother country and apply for a special visa as bridge to get your “Residencia por Inversion No Lucrativa”. The requirements in English you can check in this link
We will make sure all documents to show from Spain are correct, you will be responsible of getting the documents to be achieved in your country of origin.
9. Fly to Spain
After issuing the visa application, it is said answer will be released after ten days or so, but the reality tells us you can wait for one month or 45 days. Do not desperate, you will get your visa for one year and then you can fly again to Spain to face the final step.
10. Online application
With your residence visa and all documentation needed attached, same as you already used for applying the temporary visa, we will apply online at the appointed department for this kind of residence permits. They are compelled to answer the application before 20 working days since it is issued. Usually the last counting day they request for something more so cou ting starts again for another 20 days. This situation can be extended for two or three times, during this time you can be in Spain freely with your temporary visa, do not desperate, they will answer positively in the end.
11. Some local issues
While you are waiting for your allowance you need already to register in the townhall where you are going to live, they will issue a residence certificate which you will need when apply for your final NIE at the police. Also, there are other matters related to payments of water, gas, local taxes, etc we will help you to handle at once.
12. Finger prints at the police
Once you get a positive answer from that special unit, we will make an appointment at the nearest Foreigners Police Station, we will accompany you to that meeting making sure you are holding the requirements needed. After finger prints you will wait for two weeks, usually, depending on each police station and then you can collect your NIE, at last, for two years and renewable.
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