We study the properties of the Schr\"odinger-type non-relativistic holography
for general dynamical exponent z with and without hyperscaling violation
exponent \theta. The scalar correlation function has a more general form due to
general z as well as the presence of \theta, whose effects also modify the
scaling dimension of the scalar operator. We propose a prescription for minimal
surfaces of this "codimension 2 holography," and demonstrate the (d-1)
dimensional area law for the entanglement entropy from (d+3) dimensional
Schr\"odinger backgrounds. Surprisingly, the area law is violated for d+1 < z <
d+2, even without hyperscaling violation, which interpolates between the
logarithmic violation and extensive volume dependence of entanglement entropy.
Similar violations are also found in the presence of the hyperscaling
violation. Their dual field theories are expected to have novel phases for the
parameter range, including Fermi surface. We also analyze string theory
embeddings using non-relativistic branes.Comment: 62 pages and 6 figures, v2: several typos in section 5 corrected,
references added, v3: typos corrected, references added, published versio