Spain, Mallorca, Senior couple sitting on bench at sea shore. (© Westend61/Getty Images)

Spain offers foreigners dual residency with their property purchase

11/21/2012

Sure, Spain might be in a spot of financial difficulty, but those siesta-loving, late night-dining party people want you. Spain is inviting foreigners to pick up a luxury property there at a bargain price, and they'll throw in dual residency to sweeten the deal. Hola! Spend more than $204,000 or 160,000 euros on an upmarket home in Spain and not only can you feel like a local, you'll have the papers to prove it. Record numbers of Spainards have been forced to leave their homes and the residency permit carrot is being dangled in an attempt to aid Spain's debt-ridden banks. It's not yet known if the proffered residency will also be for the entire European Union. [Source

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