Spain

Benefits of living in Spain

Spain is located on the Iberian Peninsula. The territory is divided into 17 regions, the capital is Madrid. This is one of the warmest countries in southern Europe, with 270 sunny days a year. The official language is Spanish. The number of foreign tourists per year exceeds millions.

Where and what property to buy?

1. New development projects in major Spanish cities such as Valencia and Bilbao. Real estate here is aimed not only at meeting the needs of tourists, but also at meeting the local demand.
2. Holiday property by the sea. The prospect of obtaining rental income or personal residence. Suitable resorts are Malaga, Marbella, Costa del Sol, Tenerife, etc.
3. Apartments and commercial real estate in Barcelona or Madrid. Cities are the largest cultural and economic centers of Spain. Experienced brokers recommend choosing specific streets, not areas. However, real estate in the prestigious quarters of Barcelona - Sarria Sant Gervasi, Les Corts, Gracia or Madrid - Salamanca, Chamartin, Retiro is always in demand.

Is it possible for Russians to buy real estate?

A foreign investor can freely purchase a property. The main condition is to issue an identification number of a foreigner NIE and open a bank account. From the documents you will need: a passport, an income statement, documents proving the payment of taxes and an agreement on booking real estate in the country.

Property taxes

The rate ranges from 0.4 to 1.1% of the cadastral value of the object. If the owner rents out his property, he is obliged to declare income and pay income tax on the lease. As a rule, this is 25% of the income received from the rental of real estate.

Residence permit

Russians can get a "Golden Visa" when investing in shares of local companies or in real estate worth more than 500,000 €. The program has significant advantages: the status is issued to the whole family, the right to work and free movement within the European Union is granted. The visa is issued for 2 years with the possibility of a further extension for 5 years.