Prohibitions on Short-Term Rentals and Business Use

  1. Short-Term Rentals: Properties acquired by third-country nationals, whether for initial granting or renewal of an Golden visa residence permit, are strictly prohibited from being rented out on a short-term basis, as well as you can’t sub rent it. This regulation aims to maintain the intended purpose of these properties as residences for investors.
  2. Business Use Restrictions: Additionally, properties owned completely by third-country nationals under the conditions outlined, particularly for those seeking or renewing a permanent residence permit, cannot be utilized as the headquarters or branches of any business. This limitation ensures that the real estate remains dedicated to residential use.

Consequences of Non-Compliance

Failure to adhere to these regulations can have serious repercussions. The following penalties will be enforced:

  1. Initial Violations: If the short-term rental or business use restrictions are violated, the residence permit may be revoked, and a standalone administrative fine of €50,000 will be imposed on the owners and/or holders of the property.
  2. Subsequent Violations: In cases of continued non-compliance or if the second condition regarding business use is violated, the fine escalates to €150,000.
  3. Contract Violations: If a property transfer contract is executed despite the prohibitions mentioned, the residence permit will also be revoked, and a fine of €150,000 will be levied against the property owners and/or holders.