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Spain: Residency for foreigners who buy houses
AP ^ | 11-19

Posted on 11/19/2012 11:36:50 AM PST by Arthurio

MADRID (AP) — Looking for a new place to call home? Spain is hoping to give you a little bit more than a welcome basket of baked goods if you decide to move there. In an attempt to reduce the country's bloated stock of unsold homes, the government is set to offer permanent residency to any foreigner provided they buy a house or apartment worth more than €160,000 ($200,000).

The plan, unveiled by Trade Ministry secretary Jaime Garcia-Legaz Monday and expected to be approved in the coming weeks, would be aimed principally at Chinese and Russian buyers. Spain has more than 700,000 unsold houses following the collapse of its real estate market in 2008 and demand from the recession-hit domestic market is stagnant.

Read more: http://www.seattlepi.com/business/article/Spain-Residency-for-foreigners-who-buy-houses-4049449.php#ixzz2ChNwrZz9

(Excerpt) Read more at seattlepi.com ...


TOPICS: News/Current Events
KEYWORDS:

1 posted on 11/19/2012 11:36:53 AM PST by Arthurio
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To: Arthurio

Yeah, uh.... no thanks. Given their problems, I’m guessing Spanish property tax for foreigners will be through the roof. Its bad enough here in the USA.


2 posted on 11/19/2012 11:38:47 AM PST by rbg81
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To: Arthurio

“would be aimed principally at Chinese and Russian buyers”

Yeah, more statists really help lift Spain. Idiotas.


3 posted on 11/19/2012 11:41:34 AM PST by cll (I am the warrant and the sanction)
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To: Arthurio

Let’s sell residency to financially
prop up the takers who keep us in
power. Anything to NOT get a job.


4 posted on 11/19/2012 11:43:22 AM PST by WKTimpco (Traditional Values Counter Revolution)
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To: Arthurio

ITS A TRAP!


5 posted on 11/19/2012 11:47:53 AM PST by Psalm 144 (Voodoo Republicans. Don't read their lips. Watch their hands.)
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To: Arthurio

This sounds like an open invite to reacquire al Andalus. What could go wrong?


6 posted on 11/19/2012 11:51:07 AM PST by Paine in the Neck (Socialism consumes everything)
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To: Arthurio

Spain!
Come for our weather, stay for our failed socialist society!


7 posted on 11/19/2012 11:54:54 AM PST by silverleaf (Age Takes a Toll: Please Have Exact Change)
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To: Paine in the Neck

Beware of Moors with pre-approved mortgages.


8 posted on 11/19/2012 11:55:12 AM PST by Buckeye McFrog
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To: Arthurio

We might want to try that here. Right now we are getting far to many freeloading renters.


9 posted on 11/19/2012 11:55:23 AM PST by Average Al
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To: Arthurio
How about foreigners who bring their wives, servants, bond-slaves, cattle, goats, sheep and camels? Those are probably the ones most interested in “returning” to Spain for good.
10 posted on 11/19/2012 12:07:05 PM PST by 2ndDivisionVet (You cannot invade the mainland United States. There would be a rifle behind every blade of grass.)
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To: Arthurio

That might be worthwhile for someone that has $200K to spare. Most countries make you jump through lots of hoops to get permanent residency. For $200K you get residency in Spain but can move to any of the Euro countries if I understand how things work there.


11 posted on 11/19/2012 12:09:47 PM PST by meatloaf (Support Senate S 1863 & House Bill 1380 to eliminate oil slavery.)
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To: Arthurio

The USA offers residency to any foreigner who can wade a river.


12 posted on 11/19/2012 12:14:38 PM PST by Malesherbes (- Sauve qui peut)
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To: meatloaf

“For $200K you get residency in Spain but can move to any of the Euro countries if I understand how things work there.”

Bingo.

All details not revealed yet, but I expect exactly what you wrote. As long as you do not stay there at least 183 days, you will not face income tax. You will pay property tax. By renting out your property a few times a year, you could pay the tax.

In the meantime, you would have the right to reside anywhere in the 27 EU countries. A cheap way to go.

As long as you remain on tourist status, the State loves you. It is only citizens that are treated like milk cows.


13 posted on 11/19/2012 12:33:24 PM PST by aMorePerfectUnion (Gone rogue, gone Galt, gone international. Gone.)
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To: rbg81

Right.

What good’s a house if you can’t get gas, heat, food, security, etc.


14 posted on 11/19/2012 12:37:07 PM PST by SMARTY ("The man who has no inner-life is a slave to his surroundings. "Henri Frederic Amiel)
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To: Arthurio

No thanks, Spain. But I’ll be happy to package your worthless foreign-owned mortgages into CDOs and sell them to unsuspecting Spanish muppets.


15 posted on 11/19/2012 1:06:53 PM PST by gotribe
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To: Arthurio

These are the banks trying to find a market bottom on a ton of unsold real estate. They’re trying to factor in a “passport premium” to camouflage how little the locals really can afford to pay for realistically priced housing.

The best part is, the EU and ECB have probably floated this scheme just to see whether it sells.


16 posted on 11/19/2012 1:22:38 PM PST by mo (If you understand, no explanation is needed. If you don't understand, no explanation is possible.)
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To: Arthurio

calling all Chinese and Russian mafia types... :-)


17 posted on 11/19/2012 1:25:26 PM PST by SteveH (First they ignore you. Then they laugh at you. Then they fight you. Then you win.)
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To: Arthurio

I wonder how many mohammedans will take them up on this snce they are working on reconquering Spain.

Idiots should work on reversing their falling birthrate — as should we.


18 posted on 11/19/2012 1:52:15 PM PST by Bigg Red (Sorry, Mr. Franklin, I guess we couldn't keep it.)
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To: Bigg Red

The prior Socialist government paid people to have babies, though you didn’t have to be a citizen of Spain to take them up on this bounty. As you might imagine, Muslims were happy to take the govt up on the offer.


19 posted on 11/19/2012 1:55:47 PM PST by Arthurio
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To: Arthurio

...you didn’t have to be a citizen of Spain....

&&&
They are bigger idiots than I thought, then.


20 posted on 11/19/2012 2:15:33 PM PST by Bigg Red (Sorry, Mr. Franklin, I guess we couldn't keep it.)
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To: rbg81
Property tax? That would be the least of your worry in Spain. They will simply demolish your retirement home.

There have been *dozens* of stories like this one in the past few years:

http://www.dailymail.co.uk/news/article-507451/More-British-dream-retirement-homes-demolished-Spanish-planning-row.html

"An estimated 100,000 homes have been built on protected land during a ten-year housing boom along Spain's 1,000-mile Mediterranean coastline.
Thousands of Britons bought homes in Spain only to discover they had been illegally granted planning permission by town halls.
Now a senior prosecutor has demanded that all those built illegally must be demolished.
"

By now only a true idiot would buy property in Spain.

21 posted on 11/19/2012 3:07:41 PM PST by Moltke ("I am Dr. Sonderborg," he said, "and I don't want any nonsense.")
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To: aMorePerfectUnion

Only $100k buys you permanent residency in Ukraine. For that you get all the privileges of living in a former Soviet state including BS paperwork that even the IRS would envy. /sarc

Ukraine is on the list of a very few countries that the US still looks on with suspicion. To get your SS check you have to go to the US embassy in person every month.


22 posted on 11/19/2012 3:39:03 PM PST by meatloaf (Support Senate S 1863 & House Bill 1380 to eliminate oil slavery.)
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To: meatloaf

To further put into perspective how bad it is in Ukraine, there are whole websites of beautiful women who want to leave by marrying men who are 20-70. If they want to leave that badly, I suspect there isn’t much of a future. I know a guy who married a beautiful Ukrainian woman, probably 15 years or more younger than him. They now live in Switzerland.


23 posted on 11/19/2012 3:52:00 PM PST by aMorePerfectUnion (Gone rogue, gone Galt, gone international. Gone.)
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To: aMorePerfectUnion

^^^^^^ Hah! You were looking for a Babushka!^^^^^^^


24 posted on 11/19/2012 4:25:23 PM PST by Sarajevo (Don't think for a minute that this excuse for a President has America's best interest in mind.)
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To: SMARTY

Good point. And I’m sure the locals would be asking for handouts because you’re part of the 1%.


25 posted on 11/19/2012 4:26:47 PM PST by rbg81
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To: Arthurio

Bump


26 posted on 11/19/2012 4:45:38 PM PST by Incorrigible (If I lead, follow me; If I pause, push me; If I retreat, kill me.)
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