Spain's government has approved plans to grant wealthy foreigners residency if they buy property, or set up businesses.
If parliament passes the bill, real estate worth $650,000 and above would give buyers such a status.
It is an attempt to boost Spain's crippled housing market, and give the country a much-needed injection of foreign cash.
Al Jazeera's Rory Challands reports from Barcelona.
Source: Al Jazeera