Is non-profit residence in Spain really "reliable"

Non-profit housing is supported by law. The bill was first promulgated in 1980. According to Articles 46 and 47 of the National Gazette of Spain published on April 30th, 201/KLOC-0, this bulletin is about the rights and freedoms of foreigners in Spain and their social integration.

In the Spanish Non-profit Residence Permit Law, the applicant has the following requirements:

● The applicant is in good health and has no criminal record in Spain or China.

● There are no illegal entry and exit records in Spain and Schengen countries.

● Be able to provide stable accommodation for family members and have sufficient funds to prove that they and their families can maintain their living expenses in Spain without working.

● Social insurance has been purchased in Spain.

● Failing to return to the country of origin within the prescribed residence period.

● Relevant application fees have been paid.

From the basic requirements, we can see that the non-profit residence permit in Spain has two most restrictive conditions for the applicant: First, "it can provide a stable residence for his family and have enough funds to prove that he and his family can maintain their living expenses in Spain without working." Second, "he didn't return to his country of origin by himself within the prescribed residence period".

Article 1 stipulates that applicants and their families are not allowed to obtain funds by working in Spain, which means that during their stay in Spain, applicants can only obtain the expenses needed for living in Spain through self-employment in Spain or domestic wages, real estate income, stocks and pensions.

The second strictly limits the applicant's residence time in Spain, and he must live in Spain for at least half a year.

As can be seen from the above two points, the so-called "non-profit" means that the applicant can't work in Spain and can't invest in the project.

What is the purpose of Spanish government non-profit housing?

Many people will ask, why does Spain set such a low investment threshold?

As we all know, no matter which country's immigration policy is based on promoting its own economic development,

Although the investment threshold for non-profit immigration projects in Spain is very low, there are very strict requirements for applicants' long-term financial resources in the bill.

Non-profit immigrants have a mandatory residence requirement of one year and six months, and are not allowed to work during their stay in Spain. Therefore, the applicant spent half of the five years in Spain and was unemployed.

This puts high demands on the applicant's long-term wealth growth, and whether he can have a stable income to support consumption during his stay in Spain has become a difficult problem for many applicants.

In this way, the purpose of setting up non-profit residential projects in Spain is very obvious.

The use of non-profit residence projects can attract overseas investors to start businesses, spend money and do business in Spain.

By attracting overseas investors to start businesses and do business in this country, we can alleviate the weak and slow growth of Spain's economy and stimulate the vitality of the Spanish market.