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How does the Spanish 'buy property for residency' scheme work?

S.China Morning Post
Friday, 28 December 2012

Gaining right of residency in European countries is becoming increasingly easy for Hong Kong and Chinese individuals, provided you buy yourself a home.

The Spanish government is the latest European country to offer foreigners residency. European Union nationals already have the freedom to reside in Spain, and from now on so do people from outside this economic area who spend at least euro160,000 on property.
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