Long Term Residence in Spain
The investment residence is also called Golden Residence or Golden Visa. It is valid for an initial period of 3 years, after which it can be extended for a 5-year investment residence.
Investment residency requires the person to invest in Spain any of the following amounts:
-Purchase of a property of 500,000 euros or more
-Business investment (stock) of at least €1 million.
-Bank deposits of €1,000,000.
Related article: Requirements for Spanish Golden Visa (updated 2023)
Long term residence in Spain
Long term residence is also called permanent residence in Spain. Spanish law states that foreigners who have lived in Spain legally and continuously for 5 years can apply for permanent residence.
If you are golden visa, after living 5 years in Spain, you can apply for permanente residence.
What are the requirements for for permanent residence?
- According to Article 32 of the Spanish Aliens Law, the application for permanent residence requires 5 years of legal and continuous residence in Spain.
Note: The law refers to 5 years of continuous residence in Spain, not 5 years in the EU. Therefore, if the investor regularly travels to other EU countries during this period, it will not be considered continuous residence. Nevertheless, since there are no border checks in the Schengen Area, this situation is not necessarily known to the immigration authorities.
Continuity is defined as a single absence of no more than 6 months in the last 5 years and a cumulative absence of no more than 10 months over 5 years. If this period is exceeded, then it is not possible to apply for permanent residence, but it is possible to renew the investment residence.
Note: If you have completed 5 years, you can apply before your current residence expires.
Documents required for long term residency
1.Official application form (EX-11). Click here to download it from the official government website.
2.A copy of the entire passport. The reason for requesting the entire passport is to check the entry and exit stamps on it. The purpose is to confirm that the time limit for leaving the country has not been exceeded, and if you have recently replaced your passport, it is a good idea to bring the old one as well, otherwise the immigration office may ask you to present other documents to prove that you have resided legally for five years. All rights reserved . Reproduction or reprinting by individual entities is prohibited.
3.If the applicant has children aged 16 or younger in Spain. A certificate of school attendance (Certificado de matrícula) is required. This can be done by calling the secretariat of the school.
4.The application requires the submission of the paid version of TASA 790 052. When filling out the 790-052 form, just check the box “autorización de residencia de larga duración” in the section of applications to be processed.
5.Of course, you need to bring your current residence with you when you apply.
6.According to article 149 of the current Spanish Aliens Statute, no proof of financial capacity is required to apply for permanent residence and there are no insurance requirements. There is also no need for health insurance or medical card, etc.
7.Some immigration authorities may ask for proof of residence (padron), so it is advisable to bring it with you.
