🙋‍♂️Are you thinking about applying for non profit residency in Spain? In today’s video, find out important information on the topic.

✍️The non profit residency is a type of residency in Spain granted to non-European citizens who have sufficient financial resources to reside without needing to work. It can be granted to a single person or to a family.

👉To apply for the non profit residency, the
applicant’s income should not come from a job or compensation for labor activities. They must have income that does not come from direct work or possess assets that allow them to live in Spain without having to work.

Examples of these financial resources could be rental income, dividends from business shares, real estate properties, bank deposits, etc.

Business owners who are also majority shareholders can apply for this residency as long as they delegate substantial responsibilities to third parties and commit to not working while holding non profit residency in Spain.