New Spanish immigration laws for EU citizens have come into force in July 2012. First and foremost the laws tighten you can obtain permanent residency in Spain and on what terms. How does it affect you and your plans to obtain a dream home in Spain?
The most likely answer is: It doesn’t!
Hefty debate is ongoing about the new laws restricting EU citizens from settling in Spain. Is it the first step towards Spain leaving the EU? Is it a violation of the Schengen treaty? These may be future legal battles and/or polemic political debates, but the effect on you as a future home owner in Spain is likely to be minimal.
What the new law states as requirements for permanent residence in Spain:
- You must be self supporting (Job, Pension, Self employed) or
- Have sufficient means in the bank / other assets and
- Have valid health care (private or public from your country of origin)
In other words, you can´t move to Spain and immediately sponge off the social system there. But then, were you really planning to?
If you are looking for a future dream home in Spain for your family to have as a base for a new life, you either have the cash to buy that house, a sufficiently good finances to secure a mortgage for it or at the very least enough money for a deposit and moving costs for a rental villa. That almost certainly means you have a way of supporting yourself … and if not, you should probably reconsider the move anyway.
Do as you always would. Find your preferred area, locate the property of your dreams and plan for the future ahead. The law says you have to be able to support yourself to realize your dream of a life in Spain – but it wouldnt be much of a life if you couldnt, would it? Theres a more thorough review of the new immigration law and its consequences for future expats in Spain here: Jávea Spain: Moving To Spain / A New Livelihood