What do I need to do to live in Gran Canaria?

COMING TO GRAN CANARIA It is best to apply for a Shengen visa at least a month before you travel to Gran Canaria. If you plan to spend longer than three months in Gran Canaria, you need a long term work and residence visa. You have to apply for this kind of visa from your home country via a Spanish consulate.



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In reality, the Canary Islands cost of living is not as high as many people think. To get a non-lucrative residency visa to stay in Spain long-term, you only need a passive income of €2,151 per month. This budget will easily cover your costs for a comfortable life on whichever island you choose.

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A family of four estimated monthly costs are 2,520.1$ (2,383.0€) without rent. A single person estimated monthly costs are 699.5$ (661.4€) without rent. Las Palmas de Gran Canaria is 52.0% less expensive than New York (without rent). Rent in Las Palmas de Gran Canaria is, on average, 80.3% lower than in New York.

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Any foreigner can buy property in Spain, regardless of whether he is a resident of the country or not. To purchase, you must have an account with a Spanish bank and NIE – tax number of a foreigner.

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A temporary residency allows you to stay on the islands for between 90 days and five years. Permits for less than five years can be renewed every year at the subject's request.

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The average price is just under 2,400 euros/m2 in the better areas. Houses/villas typically cost between 220,000 and 3 million euros and two-bedroom apartments between 170,000 and 540,000 euros.

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Depending on the visa type, and the number of dependants, your minimum income is determined. In calculating the proof of income for non-lucrative residency, you must have an annual income of 400% of IPREM in your bank account. The IPREM for 2023 is €600 per month.

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If you're keen on island living, the Canary Islands are a hard place to beat. You'll get all of the perks of EU standards of living yet still get the tranquility and access to nature an island offers.

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The most popular areas on Gran Canaria are the coastal towns of Maspalomas and Meloneras, located on the south of the island. They are known for their resorts and touristy beaches. If you're looking for shopping opportunities, these areas have a decent shopping center called Centro Comercial Playa Meloneras.

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Nomad's list of the best places to live in Spain in 2023 is topped by Gran Canaria for the second year in a row, also making the island the best Canary Island to live on, followed by the islands of Fuerteventura and Tenerife.

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Average Property Prices in Gran Canaria are valued at €1,511 per square metre, but sellers expect €2,002 per square metre. The average house prices in Gran Canaria are comprised between €1,394 per square metre (TINSA) and €2,002 per square metre (Idealista).

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If you are buying a new property in Gran Canaria, you will pay 7% IGIC (General Indirect Tax of the Canary Islands) + 1% of the purchase price. If you are buying a second-hand home, the rate is 6.5% of the purchase value. On top of that, you will have to pay registration fees.

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Even better, house prices in Las Canarias are fairly affordable, if you know where to look… the two cheapest Canary Islands to buy property are Tenerife and Gran Canaria.

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All passports must be valid for at least three more months upon entry into Spain and the Canary Islands, though six is recommended. No tourist visa is needed if the stay is less than 90 days.

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In reality, the Canary Islands cost of living is not as high as many people think. To get a non-lucrative residency visa to stay in Spain long-term, you only need a passive income of €2,151 per month. This budget will easily cover your costs for a comfortable life on whichever island you choose.

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Canary Islands Spanish (a distinct dialect of Spanish) is spoken in the Canaries, and certain archaic words peculiar to the archipelago show Portuguese influences.

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