Tranio case: buying an apartment in Madrid and obtaining a “golden visa” for an investor in Spain

The content of the article

1. Tranio Affiliate Program
2. Apartments in the heart of Madrid
3. Registration of real estate in Spain for a Russian passport in 2024
   1. Obtaining a “golden visa” by the investor after the purchase and further plans

Today, Spain is one of the most affordable EU countries for obtaining a residence permit for investments. To participate in the golden visa program, an investor in Spain must invest in the state economy or purchase real estate with a total value exceeding 500 thousand euros.

You can buy real estate and apply for an investment residence permit in Spain even if you only have a Russian passport.

The “Golden visa” of Spain allows you to obtain a residence permit in the shortest possible time according to a simplified scheme, and also opens up many opportunities for its holders: the right to stay in the EU for an unlimited amount of time for an investor and all members of his family, the possibility of opening European accounts and using financial instruments of EU banks, the right to establish a business in Spain, the opportunity to obtain permanent residence and citizenship by naturalization.

At the same time, unlike other Spanish residency programs, the golden visa does not oblige an investor to become a tax resident and permanently reside in Spain, there is no need to confirm their knowledge of the language and cultural integration in order to extend a residence permit.

Tranio Affiliate Program

Investor Andrey, a Russian businessman living in the territory of the Russian Federation, purposefully considered real estate for investment in Spain in order to obtain a residence permit under the golden visa program. 

The Tranio team’s work with the investor took place under a partnership agreement with a migration company engaged in obtaining a residence permit. In order to select a suitable real estate for the selected program, this company transferred the client to the support of Tranio experts. Ekaterina Maslova, Tranio Manager, real estate and migration investment expert, worked with the client. Ekaterina has been helping Tranio clients to purchase houses and apartments in many countries of the world for more than 7 years. Recently, in her interview for the editorial board, Ekaterina shared her personal experience of relocation and stories of buying real estate and obtaining a residence permit with her clients. 

For investor Andrey, this was the first experience of buying real estate abroad. At the first stage, the investor, together with Ekaterina, remotely selected several options from the provided list of suitable real estate in Madrid, and then personally visited the capital of Spain to view the apartments in real time. After choosing and purchasing real estate, the partner company was able to issue the investor a “golden visa” for investments. 

Apartments in the heart of Madrid

Andrey had visited Madrid many times before and purposefully considered this city as a place of a second residence and a “spare airfield”. The capital of Spain attracted investors with its developed infrastructure, economic and cultural environment, dynamism of life, exquisite architecture and comfortable climate.

Among all the cities in Spain, the atmosphere of Madrid is the most restrained, and the urban structure is clearly centralized with the historical center at Plaza Mayor and Puerta del Sol and the political center at the Royal Palace. Madrid lacks the spirit of a seaside resort, it is significantly removed from the beaches of the Spanish Mediterranean coast and is located in the center of the country. However, this city is a concentration of the spirit of Spain and has a significant cultural foundation. It houses: the Prado Museum, the Reina Sofia Museum and the Thyssen-Bornemisza Museum, which are among the 100 most visited museums in the world, and from May to October, a bullfight takes place every Sunday at the Las Ventas Arena.

Among the advantages of living in Madrid are the following:

1. Madrid International Airport. It is the largest international hub connecting the countries of Europe and Latin America. The airport is the 4th largest in the EU.
2. Well-developed transport infrastructure. The Madrid metro is the 2nd largest in Europe and is second only to London.
3. The business center and the economic component of the city. The vast majority of the head offices of large Spanish companies are based in the capital of Spain. Madrid is the financial heart of the country.
4. A comfortable climate. The city has a dry Mediterranean climate with hot summers and moderately warm winters, the temperature rarely drops below zero.
5. Proximity to nature. The city is surrounded by national parks and reserves with mountain landscapes and historical villages and fortresses.
6. The possibility of sea and mountain recreation. From the city in a few hours by car you can get to both The Mediterranean Sea, and before The Atlantic Ocean or the southern slopes of the Pyrenees.

Andrey chose a renovated four-room apartment in a prestigious area in the heart of Madrid. The apartment has three bedrooms, a kitchen island in an adjacent space with a living room, built-in wardrobes around the perimeter of the dwelling and kitchen furniture. The finish is made of high-quality materials: oak timber floors, ceramic tiles in the bathroom. The apartment has air conditioning, soundproof windows, one parking space in the parking lot, and a video surveillance system is equipped in the common areas. Panoramic windows overlook the streets of Madrid, a supermarket and a public transport stop are located next to the building.

The cost of the apartments amounted to 535 thousand euros, payment was made in euros from an account from the CIS country in a one-time payment, which allowed immediately after registration of documents for real estate to apply for a “golden visa” of the investor.

Registration of real estate in Spain for a Russian passport in 2024

According to the legislation, in 2024, residents of Russia are allowed to buy real estate in EU countries (with certain restrictions). Citizens of the Russian Federation can purchase real estate in Spain on an equal basis with citizens of other countries.

Spanish legislation reliably protects the investor’s ownership of the purchased property. After buying a property, the investor has the full right to obtain a residence permit in Spain. If the investment amount exceeds 500 thousand euros, the investor receives the investor’s “golden visa”. If the investment threshold is lower than the specified amount, the investor can obtain a residence permit from a financially independent Spain.

Obtaining a “golden visa” by the investor after the purchase and further plans

After completing the transaction, the investor immediately began to issue a Spanish residence permit for investments and a month later Andrey received a “golden visa”, with which he can freely stay in Spain and move around the EU for an unlimited amount of time.

The investor plans to make this residence his “second home”, to stay in apartments during his travels in Europe and travels around the world.

In addition, if desired, an investor can rent a residence profitably: the rental market in this city shows good dynamics, and the Swiss financial holding UBS has included Madrid in the top 5 megacities with the lowest risk of a “bubble” in the real estate market.

If all conditions are maintained and the residence permit is extended, as well as cultural integration, after 10 years Andrey can apply for a Spanish passport under the naturalization program. By the 1st quarter of 2024, according to recent studies, the Spanish passport, along with the passports of Germany, France, Japan, Italy and Singapore, took the first place in the world ranking of passport strength, allowing you to visit 194 countries without a visa.

Tranio’s management team will help you develop an optimal investment strategy and choose a property in Spain based on your requests.

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