Spain tempts investors with residency

12 June 2013

Spain tempts investors with residency

Al Jazeera TV reports about Spain’s approved plans to grant wealthy foreign home buyers permanent residency if they buy property worth $650,000 or more.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. View the video on Al Jazeera TV.

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