Spain tempts investors with residency
Government approves plans to grant wealthy foreigners residency status if they buy property.
Published On 12 Jun 2013
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