Spain Plans To Offer Residency Papers With Every Home Over 160k!

A new plan was disclosed today by the Spanish Trade Ministry Secretary, Jaime Garcia-Legaz. Aimed at helping the stagnated property market, the plan is to offer permanent Residency to foreigners who buy a house or apartment valued over 160,000 euros ($200,000). The plan is expected to be approved in the coming weeks, and would be primarily aimed at enticing Chinese and Russian buyers. It was not immediately clear if the residency would only refer to Spain, and not the European Union.

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