Canary Islands plan 10-year residency for foreign buyers
Responsible for this content: Frank Menze
In Spain’s Canary Islands, foreign non-residents could need ten years of residency before buying a home: the regional government and Spain’s central government are still working on the proposal. Canary Islands government spokesman Alfonso Cabello said on 22 October that they had yet to settle its final wording and when to seek approval.
Spain’s central government accepted the commitment while measures known as the “Mari Carmen decrees” were being considered. Cabello hopes Spain’s Council of Ministers will approve the proposal before 29 November, but neither the text nor the timing has been agreed.
Source: Europa Press / Mallorca.com