Are you thinking of buying property in Spain as an American? Don’t you know if can Americans buy property in Spain?
It has never been a better time for Americans to buy a property in Costa Blanca Spain
What visa do I need to live in Spain as an American?
Under Schengen terms, American citizens can visit Spain visa-free for a maximum 90 days in a 180-day period. But, what about if you like the experience a lot and you considerate buying a holiday home in Spain?
Once you’ve used up your 90 days, you cannot return to Spain or any other 26 Schengen countries without a visa. This doesn’t stop you from buying, owning or even renting out property in Spain as a foreigner, but it stops you from living in Spain year-round.
These are the three main visas to consider:
Work visa
The visado de trabajo y residencia lets you live and work in Spain. For a standard work visa you need a job offer in Spain, or if you fulfil income requirements and can prove your qualification and experience you can apply for a self-employment visa. It’s advisable you seek professional help to apply for the self-employment visa in Spain.
Study visa
The visado de estudios lets you study in Spain for the duration of your course.
Non-lucrative residence visa
The visado de residencia lets you retire in Spain, but not work there. To qualify you must prove you have 400% of the IPREM (a public income index in Spain) in your bank account.
There are three further visas to consider in specific circumstances:
Golden Visa
If you invest at least €500,000 in Spanish real estate you can get fast-tracked residency.
Family reunification visa
The visado de reunificación familiar is for family members of foreigners (or Spanish nationals) who already have residency in Spain.
Entrepreneur visa
The entrepreneur visa is for anyone with a business of economic interest to Spain. You will need a favourable report from Spain’s Oficina Económica y Comercial (these are housed within the Spanish consular offices in the USA) which details your business plan and why it helps the Spanish economy. The visa can cover your spouse and children provided you can prove sufficient funding to support them.
What documents do I need to buy property in Spain as an American?
First of all, the answer to “can us citizens buy property in Spain” is: YES. So this is what you need:
The number one essential requirement to buy property in Spain as an American is the NIE.
NIE stands for numero de identidad de extranjero or ‘foreigner’s identity number’. You can get a NIE at the Spanish embassy or consulate closest to you in the US: Los Angeles, San Fransisco, Houston, Chicago, Boston, New York City, Washington D.C. and Miami
You can also get a NIE while in Spain:
– Make an appointment at your nearest immigration office
– Fill out the EX-15 application form (link in Spanish)
– Fill out the Modelo 790 Código 012 form and pay the fee at a bank branch
– Take both forms to your appointment along with your US passport, two passport photos, and a letter explaining why you need a NIE (e.g. to buy property in Spain)
Expect to wait up to three weeks before receiving a phone call that your NIE is ready to be picked up at the same immigration office where you applied.
Once you have a NIE, it’s strongly recommended you open a Spanish bank account. Buying property in Spain with funds from an American bank could lead to delays, lengthy money-laundering checks and outright refusals from a seller’s bank.
You can also have a lawyer or representative get you a NIE and open a bank on your behalf.
Advanced Property Group can help you through the process, of finding professional Lawyers and tax advisors. Open bank accounts and help obtain the relevant documents. Listening to your requirements and showing you the property that meets your dreams on the relaxed Mediterranean Coast line of Costa Blanca.
For more information about the area, the properties or the prices, at Advanced Property Group we offer a very complete service, from finding the perfect property to managing all the necessary legal procedures . You can contact one of our real estate agents to see everything more carefully:
- Telephone: +34 690 783 823
- Email: info@advancedpropertygroup.es
- Office: C/ Barranquet, 12, Moraira, Alicante (03724)
- www.advancedpropertygroup.es
