Spain residence permit for a single mother to start a new life after divorce

Immigrant Invest lawyers offered Leyla four residency by investment programs that operate in Europe. The investor planned to relocate to Europe and live in her own property, so each program needed to have a purchase of a real estate option.

Spain residency by investment. The minimum sum of investment in real estate is €500,000. The property can be residential or commercial.

Terms of the Spanish Residency Program

Greece’s residence permit can be obtained by investing €250,000 in residential and commercial real estate. The investor can own or register a property with an EU-based company. It is required that the investor owns 100% of the company’s shares.

Malta. A foreigner gets a permanent residence permit if they fulfil three requirements: buy or rent a residential property, pay administrative and state fees, and donate to a Maltese non-government organisation.

Real estate that qualifies must cost:

• €300,000+ if it’s located in the south of Malta or on the Gozo island;

• €350,000+ if it is in northern or central Malta.

If a foreigner decides to rent a property, the cost requirements are:

• €10,000 per annum — if it’s located in the south of Malta or on the island of Gozo;

• €12,000 per annum — if situated in northern or central Malta.

Other expenses include an administrative fee of €40,000, a contribution fee of €28,000 or €58,000, and a charitable donation of €2,000.

The investor must have at least €500,000 in available assets, including at least €150,000 of liquid financial assets.

Cyprus. Under the Cypriot residency by investment program, one can buy a residential or commercial property for a minimum of €300,000 and obtain permanent residency for life. Real estate can be rented out.

While considering options, Leyla noticed that Spain and Cyprus allowed investors to buy more than one property. The accumulated price of purchased real estate must be €500,000 and €300,000 or more, respectively.

Leyla decided it was the perfect opportunity to buy real estate for herself and her son. While Elias is a minor, she can rent the second apartment out and get a year yield of 3—5%. Then, her son can move there and start an independent life.

Cyprus was an attractive option due to the sum of investment — €300,000, but its permanent residency didn’t allow one to travel to the Schengen countries visa-free. Leyla, who wanted more freedom of movement, wasn’t happy with it.

On the contrary, Spain, as a part of the Schengen Area, gave her a right to enter other Schengen states without visas. So the decision was made.€500,000

Immigrant Invest has a database with reliable properties all over Spain that Leyla could choose from. We advised her on the most suitable ones. Leyla couldn’t come to the country to examine real estate herself, so our lawyers did that on her behalf. They sent photos and videos.

Leyla chose residential properties in Alicante because she liked the town’s location on the shore of the Mediterranean Sea, its relatively small size and its picturesque nature and architecture.

Alicante is situated near Murcia, which is famous for housing the University of Murcia and being the biggest student city in Spain. So, Elias, if he wants, can study at the university not far from home.

The family purchased two apartments in different residential complexes:

• a two-bedroom one for €340,000;

• and a one-bedroom apartment for €270,000.

Leyla and Elias preferred properties with panoramic windows, sea views, and outdoor swimming pools. The first apartment also has tennis courts and sports playgrounds.

Examples of properties similar to those Leyla bought

Spain, Palma de Mallorca

€360,000 — €420,000

Apartments in a new residential complex with a swimming pool

61 m²

2

2

Spain, Benidorm

€340,000 — €650,000

Apartments and villas with sea and mountain view

73 m² — 230 m²

2—3

2—3

Spain, Benidorm

€455,000 — €1,690,000

Apartments on the sea coast

60 m² — 175 m²

1—4

1—4

The family moved to Spain in November 2023 and are now getting used to their new life. So far they enjoy Spain, its culture, history and cuisine. They also want to experience traditional Christmas bazaars in different European countries. With Spanish residence permits, they can enter other Schengen states visa-free.

Leyla found a great English-speaking school for Elias, where he has already started his studies. She also motivated her son to start learning Spanish alongside her. She hopes Elias will continue studying at Spain’s university and knowing Spanish will expand his options.

At the beginning of 2024, Leyla plans to start looking for people she can rent their second apartment out to. She expects to get a year yield of 4—5%.