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The Rules for a Spanish Investment Visa

The minimum investment in property must be 500,000 euros

Approximately 12% needs to be added for tax, stamp duty, VAT, notary and lawyers costs.

Investments may be spread over several properties.

It can be bought by a foreign company in your name.

Spanish residency visa will be given to the immediate family including spouse and children up to age 18

The visa covers a  5 year period.  Permanent residency can be granted after 5 years.
The property can be sold after achieving residency. The visa allows unlimited travel with the EU schengen countries.
The visa application should take 20 days .
The investments must be documented before visa application.
Spanish citizenship will be given after 5 years permanent residency.
The applicant must travel to Spain once in the first 2 years and once more in the 3 subsequent years.

A recommended lawyer will take care of the application, a 90 day visa is issued so they can come to Spain to find the property and sign a power of attorney for the lawyer to act on your behalf.
If you don't have time to come the power of attorney can be issued in your home country and the lawyer can buy the property for you.
After purchase a one year visa will be granted
Once the property has been purchased then a 2 year visa to live in Spain will be
granted and that is renewable.