Spain opens up new opportunities for those who wishing to obtain a residence permit in the country. It is just need to buy real estate in the amount of 160 thousand euro.
The new bill does not obligate the buyer to live in Spain without a break - the government is interested only in investing in the country's economy.
The reason for the new policy in Spain to attract foreign investors became a difficult economic situation in the country due to the global crisis. Considerable debts of Spain require speedy repayment. According to experts, the influx of foreign investment will help the Spanish economy. However, such measures are unfair to European neighbors, where the owners of Spanish property can freely move after obtaining residence permits. The new bill will be passed in the beginning of 2013.