Our experts advice
María says Learn more

Buying a house in Mallorca?

Residence permit for foreign investors who purchase properties in Spain approved

Residence permit for foreign investors who purchase properties in Spain approved
The purchase of properties from 500,000 euros upwards by foreigners will entitle them to a residence permit for two years, but not a working permit, according to clarified sources at the Ministry of Economy.

Residence permit for foreign investors who purchase properties in Spain approved

Resident Permit for property investors in Spain

The purchase of properties from 500,000 euros upwards by foreigners will entitle them to a residence permit for two years, but not a working permit, according to clarified sources at the Ministry of Economy.

This clause, one of the most striking of the new laws applicable for entrepreneurs, has been created in order to "avoid embarrassment" to those foreign citizens having to leave the country every ninety days to renew their visas, and according to these sources, it has already been operating successfully in other nations such as Portugal and Ireland

It is high-income investors who nevertheless must pass all mandatory controls the Interior Ministry to check things like the absence of a criminal record.

This residence permit does not include a work permit, or the right to public health or welfare services, the mentioned sources stress.

Some experts predict a price inflation of the market for luxury properties.

Investing €500,000 or more in a Spanish property, whether for residential or commercial purposes, and in a property in Mallorca for example but also by investing in financial assets like Spanish government debt.

Granted permission to reside in Spain, also requires a number of guarantees, as the person will be given the permit provided that the checks carried out by the Interior Ministry are satisfactory. This residence permit will be for a period of 2 years and may be renewed, provided that the investment of 500,000 euros in Spanish real estate remains in place. On the other hand, also confirmed are granted residence permits for foreigners who make a purchase of public debt of over 2 million.

An increase in the residency-permit investment will be good for upmarket property segments in Mallorca or Ibiza , where sales have been increased by Russian, Chinese or Asian buyers in the last years.

The residency permit also provides an attractive incentive for foreigners to invest in business projects that create jobs or have a significant impact in terms of socio-economic or scientific and technological innovation.

With regards to other aspects of the standards, such as the so-called Express license being increased locally to 500 meters, which allows certain business ventures to open without certain municipal licenses, these are future plans to increase both the surface and the type of business, providing research affirms the success of this initiative.

You can now take advantage of the latest Spanish Government’s new law which will grant the residence for foreign investors who purchase properties in Spain.

Balearic Properties is one of the leading companies in Mallorca hosting luxury real estate properties in the most beautiful spots of the Balearic Islands. By buying one of the homes listed below, investors will get the possibility to obtain a legal residence permit to live in Spain

Selected properties for sale in Mallorca in order to obtain a residence permit in Spain

Mallorca, Baleares
Ref POL5052
Country villa for sale in Pollensa, Mallorca

Country villa for sale in Pollensa, Mallorca

Country home in great location in Pollensa not far from the bay, rustic style with 250sqm + terraces. 5 bedrooms with the possibility to have 2 more on
  • 41200 m²
  • 320 m²
  • 5
  • Room for pool
Price 2,500,000 €
See more
Mallorca, Baleares
Ref POL5539
Beatiful country home for sale close to the golf course of Pollença, Mallorca

Beatiful country home for sale close to the golf course of Pollença, Mallorca

Beautiful country home close to the golf course in Pollensa and the village in a protected and calm country side location on a slightly elevated plot of
  • 15771 m²
  • 449 m²
  • 4
  • Private
Price 3,500,000 €
See more
Pollença, Mallorca, Baleares
Ref POL4641SUB
Villa for sale in Pollensa: Best price for this unique & modern villa in Mallorca

Villa for sale in Pollensa: Best price for this unique & modern villa in Mallorca

Stunning modern villa with pool in a beautiful and quiet area perfect for holiday lettings. This is your opportunity to have a modern
  • 1000 m²
  • 251 m²
  • 3
  • Private
Price 745,000 €
See more
Mallorca, Baleares
Ref ALC11140ALC4
Beach villa with 2 apartments for sale with fantastic sea views, bay of Alcudia, Mallorca

Beach villa with 2 apartments for sale with fantastic sea views, bay of Alcudia, Mallorca

Investment opportunity! Splendid ultra-modern beach villa with 2 separate apartments, this spectacular and unique property has direct access to the sandy
  • 0 m²
  • 0 m²
  • 6
  • Private
Price P.O.A
See more
Alcúdia, Mallorca, Baleares
Ref ALC4699AUC
ALC4699AUC - Semi-Detached for sale in Aucanada, Alcúdia, Mallorca, Baleares

Semi-Detached for sale in Aucanada

CONTEMPORARY VILLA WITH SEA VIEWS This unusual property is appealing to the lover of Mallorcas beaches and golf courses. Located down a quiet sidestreet
  • 400 m²
  • 280 m²
  • 4
  • Private
Price 745,000 €
See more
Mallorca, Baleares
Ref POL6010POL2
POL6010POL2 - Village/town house for sale in Pollença, Mallorca, Baleares

Village/town house for sale in Pollença

An exciting opportunity to acquire a very well presented town house which could as well be run as a hotel. Superbly restored, spacious, versatile accommodation
  • 616 m²
  • 750 m²
  • 8
  • Private
Price 2,900,000 €
See more
Alcúdia, Mallorca, Baleares
Ref AUC4807POL4
Luxury villa in the exclusive area of Aucanada for sale with panoramic sea views

Luxury villa in the exclusive area of Aucanada for sale with panoramic sea views

Unique Villa with luxury fittings and outstanding sea views. This impressive villa is a master-piece of design built to superb standards
  • 630 m²
  • 450 m²
  • 5
  • Private
Price 2,200,000 €
See more
Palma de Mallorca, Mallorca, Baleares
Ref SWOPAL1057
Apartment for sale in Palma, Mallorca

Apartment for sale in Palma, Mallorca

Very high quality standard properties situated in the center of Palmas old town. Large and luminous flat with two bedrooms, two bathrooms and terrace
  • 0 m²
  • 100 m²
  • 2
Price 369,887 €
See more
Mallorca, Baleares
Ref POL4846POL5
POL4846POL5 - Villa for sale in Pollença, Mallorca, Baleares

Villa for sale in Pollença

Amazing villa with panoramic views to the bay, mountains and the charming village of Pollensa! This luxury property is situated in one of the best spots
  • 2091 m²
  • 500 m²
  • 4
  • Private
Price 1,950,000 €
See more
Mallorca, Baleares
Ref CAP4651
CAP4651 - Villa for sale in Son Servera, Mallorca, Baleares

Villa for sale in Son Servera

The first property of your art collection with direct access to golf course Silence, peace, a sense of space, fresh air and natural living. One of the
  • 4277 m²
  • 914 m²
  • 6
  • Private
Price 3,400,000 €
See more
Mallorca, Baleares
Ref POL5518
Outstanding country property for sale situated in a beautiful area close to the bay, Pollensa, Mallorca

Outstanding country property for sale situated in a beautiful area close to the bay, Pollensa, Mallorca

Exclusive country home with charm and all conceivable modern comforts in the Pollensa and Puerto Pollensa area, Mallorca. Banks and lenders would rather
  • 16475 m²
  • 418 m²
  • 4
  • Private
Price P.O.A
See more
Mallorca, Baleares
Ref POL4669
Modern villa for sale in Mallorca with large swimming pool

Modern villa for sale in Mallorca with large swimming pool

UNIQUE STYLISH AVANT GARDE VILLA FOR SALE IN NORTH OF MALLORCA ! UNIQUE IN STYLE AND QUALITY! VERY GOOD LOCATION! Modern style family home situated in
  • 1800 m²
  • 450 m²
  • 4
Price 2,400,000 €
See more
Related Articles:

Spanish residence permits

Residence permits. Stay permits

Moving to Spain

This website uses cookies and third party cookies to compile information for the purpose of improving company services and displaying advertising connected to user preferences. Continuing to browse constitutes aceptance of the cookies installation. The user can set their browser, if desired, to prevent cookies from being installed on the computer's hard drive. However, please note that this may cause difficulties when browsing on the website. See our cookie policy Ok