[QODLink]
Europe

Spain tempts investors with residency

Government approves plans to grant wealthy foreigners residency status if they buy property.

Last Modified: 12 Jun 2013 19:09
Email Article
Print Article
Share article
Send Feedback

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.

61

Source:
Al Jazeera
Email Article
Print Article
Share article
Send Feedback
Topics in this article
People
Country
City
Organisation
Featured on Al Jazeera
An innovative rehabilitation programme offers Danish fighters in Syria an escape route and help without prosecution.
Street tension between radical Muslims and Holland's hard right rises, as Islamic State anxiety grows.
Take an immersive look at the challenges facing the war-torn country as US troops begin their withdrawal.
Ministers and MPs caught on camera sleeping through important speeches have sparked criticism that they are not working.
Featured
More than 400 gaming dens operate on native lands, but critics say social ills and inequality stack the deck.
The Palestinian president is expected to address the UN with a new proposal for the creation of a Palestinian state.
Nearly 1,200 aboriginal females have been killed or disappeared over 30 years with little justice served, critics say.
Ethnic violence has wracked China's restive Xinjiang region, leading to a tight government clampdown.
Malay artists revitalise the art of puppeteering by fusing tradition with modern characters such as Darth Vader.