Spain Investor Visa to be set at €500,000

Although not officially announced it looks likely that the Spanish government is going to set the limit for residency visa qualification at €500,000 and not the previous level they announced in November of €160,000.
While it is welcome news that some programme will get started – we expect July – it is not so welcome for availability. €500,000 buys you a lot in Spain. There is not a lot of property in this price range, especially bank properties which is where the real value lies for buyers.

We have counted a total of just under 100 bank properties across the three largest banks we work with. Yet there are thousands of people chasing this visa. With the demand for this visa type extremely high we expect the bank repossessed properities (the main discounted stock in Spain) to sell quickly. After those are sold the attention will switch to the resale market. But even then, properties on the market over €500,000 are limited.

Anybody looking for a visa and a bargain needs to act quickly as soon as the legislation is passed. At the moment it is only possible to reserve for around 5 days before committing so it is too soon to buy. Please, we advise any readers to be careful of unscrupulous agents promising a visa for a deposit placed now. THE VISA LEGISLATION IS STILL NOT APPROVED.

Keep watching here. As soon as we have definitive news we will advise those following our blog.

10 thoughts on “Spain Investor Visa to be set at €500,000

  1. and they still need to consider things like – how many days a year would you need to spend in Spain, can this lead to citizenship, how would investor residents be treated for tax on world wide income, AND would Spain allow dual citizenship to these investors? At the speed that they are going we should have these answers by 2030 … perhaps…

  2. sir, this is toomuch mony becouse U S A gat green card only 500k perchas property.and i live in karachi hear fadax is not colact our pasport thay said us go to an ather citi laike islamad .we r not afort go to islamad three taims .i am meamber of karachi chamber of comerc .thanks ,regard RIZWAN

  3. This is of course too high considering the country is going through an economic recession for more than 2 years, unemployment rate is almost 30%, thousand of unsold property etc. Such a high investment will bring only the wealthy investors and when thousands chase just a hundred properties high end inflation is bound to happen which will further worsen the economy! Will it be allowed in this new legislature to buy several properties for a minimum total value of 500 000 Euro? The question of dual citizenship also remains to be answered.

    • Agreed. It is only going to benefit the luxury end of the market and €500,000 goes a long way in Spain. Our company did an analysis of €500k+ properties on the market with the three main banks in Spain which is where the bulk of the stock and the best deals are. We found 83 !! You are correct in that it will produce price inflation in the high end real estate and leave the rest behind solving little in the process. Probably no coincidence that the level was set the same as neighbouring Portugal. It’s likely pressure was brought from within the EU to stop Spain running away with this.

  4. My question remains as will investors be permitted to buy several properties with a total value of 500 000 Euro or it has to be the price for just one property? If the latter is true then there will be a maximum of 80 odd Investors with a total investment of 40 Million Euro only. Will that help the Spanish economy?

    • We don’t know at this stage if it can apply to multiple properties. We expect it will as it is part of a package for entrepreneur investors.But we have to wait for more detail on the legislation.

  5. Though it is affordable for many Asian/Russian/Latin, EUR500,000 is way too much for an EU citizenship and we would rather to spend it in cheap US properties, where the recovery is really good. (If we need the sunshine and beautiful beach side, lots of cheaper choices in Southeastern Asia and even Japan).
    Most importantly, seems the citizenship only grant you right to reside and travel within the EU zone. I guess everyone here love EUR500K more than a citizenship like this.
    EUR160,000 is at least more fit to the risk reward condition of current Spain economic condition. Setup at EUR500,000 will eventually makes the scheme fail

    • Within Europe it gives Spain a competitive edge over the likes of Portugal and Cyprus. But really Spain or Europe in general needed to gain a lead on countries such as the USA/Canada/Australia and it does not go far enough on that point.

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