There have been a few recent foreign films that I think are must-sees.
Let The Right On In - Swedish vampire film, the unique twist of this film is that the vampires are pre-teens. This film could never have been made in the states.
Timecrimes - Fantastic time travel film from Spain, will turn your brain inside out. This one is currently being remade by David Cronenberg.
The Orphanage - Fans of classic horror films like The Haunting (1963) should love this one. Beautifully filmed in spain, Gilermo Del Toro was the Producer and assistant director.