This works but if the goal is to buy a house it's hard to keep a low profile. And in general if you pay 0% taxes on something and Spain decides that your main country of interest is spain, because you have a property there, they will make you pay taxes on that money too. Something like Cyprus or the UAE work if you don't buy anything, anywhere, outside of Cyprus or Dubai. I mean, if you don't have a spanish bank account, and you don't have a house in spain, it's difficult for the Hacienda to do anything against you, because it would be really complex (although not impossible) for them to get the money from you. In general buying a house puts you under the radar immediately so you need a strong setup and clear explanations of where the money is coming from.@thom038 have you thought about Cyprus non Dom system? You may wanna get resident there (staying 60 days a year will give a tax certificate and not being considered tax resident elsewhere).
You could distribute dividends from your HK company to a local Cyprus tax resident company (0% tax). And I guess you could buy your house from that company in Spain. I guess that you should not have problems in with Hacienfa as you will be tax resident in Cyprus (and, you will not be able to stay in Spanish more than 183 days year unless you keep a low profile and a bit off the radar...)
Thoughts about this idea from anyone?