American expat living in Germany would like to buy a flat in Spain...Advice needed

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Depends where. Cyprus and Malta will sell you a passport. The UK was considering it. Dunno if they implemented it. Haven t checked.

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9 hours ago, optimista said:

Depends where. Cyprus and Malta will sell you a passport. The UK was considering it. Dunno if they implemented it. Haven t checked.

Following a case of corruption on a high ranking level last year, Cyprus has stopped it for now. The program is under review since an undercover reporter recorded his conversation with a high-ranking official during which that official promised (for a bribe) to grant citizenship even though there was a criminal record. They are currently investigating who needs to be stripped of citizenship because the process of acquiring it was fishy (more than 40 people have already been).

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Thank you to all that have replied. It's all good advice and it shows that I really need to my homework.

 

I did find out that unless I take out a personal loan, I can't get a mortgage in Germany for a place in Spain.

 

I am in touch with an international mortgage broker in Valencia (which costs money but makes my life a bit easier) and I'm making a few appointments to see some property there in January. Filling out forms for the mortgage application and the NIE number are my next steps. I'm not in a hurry and will take my time with this process and can back out before I commit to anything.

 

I'm really looking for a warm, cheaper place to retire where I already know a few people. I heard about the nightmares of squatters and hellish renters in Spain. That makes me very nervous. I'm hoping that in the near future that I can maybe (with the help of Olaf) have dual citizenship and retire in Spain as an EU citizen. If not then I will relinquish my US citizenship in time to make it easier to live in Spain (or somewhere else in the EU) in the future.

 

As for buying something, the idea is so that I don't have to pay for rent or a mortgage when I'm retired. I will not make enough in a pension to support housing. Ideally, I would like to get something now to have it payed off by the time I'm 67.

 

Many thanks, Toytowners, for all of your help!

 

 

 

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