The Kingdom of Spain is located on the Iberian Peninsula in southwestern Europe. It is a constitutional monarchy. Spain is a highly developed capitalist country. She is a member of the European Union and NATO, and the fifth largest economy in the Eurozone. Its gross domestic product (GDP) ranks 6th among European countries and 13th in the world. The annual average temperature is 18℃, with plenty of sunshine.
Spanish Immigration Law, Law Article 557/2011, Chapters 46-51 (for non-working residence visas), passed and implemented on April 30, 2011. According to the “Spain Non-lucrative Residency Act”, when buying or renting a house in Spain and having a legal residence address in Spain, investment applicants and their families can obtain Spain long-term residence or long-term multiple-entry visas.
Applicant can start a business, but he/she can’t have a specific position in the company.Applicant can’t get any salary, he/shecan only get dividends and have enough living expenses in the bank account. All applicants cannot work locally in Spain.
Benefits of Spain Non-lucrative residence visa
Step for the Spanish Non-lucrative Residency
The applicant signs a contract with Taurus, fills in the evaluation form and prepare the supporting documents and materials. Then, complete the domestic formalities and do the notarization. After that, submit the embassy visa application (Beijing, Shanghai, Guangzhou) for consulate review and supplementary documents and materials (3 months).
The visa application is approved and will be collected by the applicant within one month. Entry to Spain and applicant need to enter his/her fingerprints (within 90 days).
Provide settlement services for applicants (30 days).
The first residence permit is valid. Obtain a non-profit residence status valid for 1 year (1 year). Renew the card for 2 years and renew it twice (4 years). Lastly, Apply for a Spanish permanent resident card.