Non-profit residency for entrepreneurs
By: Antonio Villena
Table of contents:
1. First essential requirement
On the question of whether an active entrepreneur can apply for a non-profit residency, the answer is simply yes, since more than a year ago, there was a Ruling Act of the supreme court. In this Ruling Act, it was stipulated that a person who is active as a businessman or as a manager, can apply for a non-profit residency, as long as certain conditions are met, which we are going to show details below.
The first condition, a fundamental question, is that in addition to the money received as a manager for his or her business activity, he or she must have financial means from other types of income. These economic means can be the company’s own shares, or they can be rents from rented properties, or even income from the spouse that does not come from a direct job, etc.
The amount of income we are talking about, which should not come from what is received as manager of your business activity, but from other income, during the year 2023 is 2400€ per month in the case of only one person (4 times the value of the IPREM). For each additional person, €600 per month would have to be added to the above-mentioned amount.
2. Other fundamental requirements
Another important condition or requirement is that you delegate your functions as manager to a third party, to represent you before the relevant administration or clients when you are not in your country of residence. This is a prerequisite for obtaining non-profit residency, and this extensive delegation of powers must be carried out.
Another requirement to be taken into account is to leave reliable proof, before the Spanish administration or consulate, that you are not going to carry out any type of work activity while you are a resident here in Spain. It is important that this is recorded before a notary, which would be the most efficient option, or before the consulate in a signed document.
Conclusion
Therefore, if you need help or advice for your non-profit residency in Spain, you can contact us and we will be happy to help you.
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