Entrepreneur Visa Spain 2024

By Lucia Lagunas Reyes | Published on 25 January 2024

As a business innovator, you possess an exceptional ability to launch and grow ventures successfully, and now you’re considering international expansion. If you’re among the many immigrant entrepreneurs seeking residency in Spain to establish or grow your business, a non-EU citizen like you will require an entrepreneur visa.

Our law firm specializes in citizenship and Spanish visa services. We’ll assess the visa category that suits you best, whether it’s an entrepreneur visa, startup visa, or another immigration visa. Contact us, and we’ll gladly assist you in your journey.

Every country has its unique considerations for establishing a business. In Spain, the consulate extends numerous benefits through its entrepreneur visa program, sponsored by the Ministry of Foreign Affairs. Aligning your business with Spain’s industry needs increases your chances of success.

To leverage the advantages of the entrepreneur visa in Spain, explore the key industries in the country, spanning equipment, machinery, retail, electronics, textiles, food, automotive, shipbuilding, chemicals, and engineering. Your business should embody innovation, aligning with the future where technology reigns and appeals to the international market.

Why Spain for open a Startup?

Currently, Spain is an attractive business market. Its economy has seen a successful increase. Spain has a lower cost of living and a large pool of skilled laborers. Besides, how can you not want to live and work in a country that features more sunny days than other European countries?

Spain is a safe and healthy country to raise a family. Also, once you acquire your entrepreneur visa, you can move quickly and easily throughout Spain and nearby European Union countries. Because of its European Union membership, Spain has become the third-largest investor globally. Also, the country has the fifth-largest economy within the European Union.

Spain’s economy is growing quickly and is providing lots of opportunities for a business to flourish here. Individuals and governments like Spain need to be more innovative in their economic system, thus there is the spain entrepreneur visa program

Spanish Entrepreneur Visa

The Spanish entrepreneur visa program, initiated six years ago (law 14/2013), follows a trend seen in countries like Australia since the 1970s, attracting innovators to stimulate local job growth. Similarly, various nations, including the USA, have introduced specific visas for startup founders.

Requiring less paperwork and featuring an accelerated process compared to traditional visas, the Spain startup visa program has unique criteria. Its success mirrors Chile’s startup initiative, collaborating with over 2,000 startups and contributing $100 million to the country’s economy through private capital investments.

In essence, the Spain startup visa serves as an efficient integration tool for migrants, ensuring their swift contribution to the local economy. Migrant startups, in particular, quickly adapt to business rules and fulfill tax obligations.

Entrepreneur visa spain application

We should distinguish two choices: 

•  A startup/entrepreneur visa, if you are in your country and you need to come to Spain to make the necessary preparatory arrangements to do business here. Before making the appointment at the Spanish consulate in the country of residence, the Business Plan must be assessed by the Spanish Economic and Commercial Office in your current country. If approved, you will receive a report , then you need to prepare all the legal paperwork to apply for your visa at the Spanish Consulate in the country of origin or residence. 

After you fulfill the legal requirements, you can receive your visa within ten days. This visa is granted for 1 year.

• A residence permit, if you are legally in Spain at the moment of the application and can set up the business.

Residence permit applications must be submitted electronically at the UGE. After you fulfill the requirements, residence permits decisions are made within 30 working days after all application form have been submitted and It is granted for 3 years. The business plan is uploaded to ENISA’s website to be evaluated for correctness and all legal documents are submitted to the UGE..

Additional applicant guidelines and residence permit information include the following:

• Passport
• Must be 18 years of age or older
• You should not have a criminal record. Criminal record certificate where you have resided in the last 5 years.
• You should not have a Spanish illegality record
• You must take out public or private health insurance with a health insurance company operating in Spain (without copayments)
• Proof that you have ample financial resources to support yourself and any dependents (for 2024, €600 monthly for yourself and €600 for each family member).
• Pay the minimum visa application fee
• In case of visas: Report on entrepreneurial activity issued by the Spanish Economic and Commercial Office in the same area where the visa is requested. 
• In case of residence permits: business plan.
• All submitted documents must be translated into Spanish by a sworn translator.

Startup visa Spain or entrepreneur visa requirements

If your new business does not fit into any of the Spanish industry environments, your chances of securing an entrepreneur visa are slim. To be accepted as a new business in Spain, you must fulfill the following contexts:

• Your business must create employment for Spaniards and be a positive stimulus for the country’s economy: the applicant’s professional profile, his/her training and professional experience as well as his/her involvement in the project are important.
• Your business must constitute a good investment opportunity.
• Your business must fit into Spain’s improved technology environment and the country’s social-economic development.
• The business Plan should include at least:

1. Description of the project: business activity to be performed, start-up date, location, planned legal form of the company, potential economic impact of the investment, description of the estimated number of jobs that may be created and their duties and qualification, planned promotion activities and sales strategy.
2.  Description of the product or service: the description shall be detailed and include the innovative aspects.
3.  Market analysis: assessment of the market and expected evolution, description of the possible competitors, assessment of potential consumers and analysis of supply and demand.
4.  Financing: investment required, sources of financing and financial plan 
5. The added value for the Spanish economy.

How do I get an entrepreneur visa for Spain?

For those eyeing a business venture in Spain and planning a move from another country, the entrepreneur visa application, including the business plan, must be submitted to the Spanish Embassy. The Business Plan undergoes assessment by the Spanish Economic and Commercial Office in your current country.

Submit a comprehensive business plan, and within 10 days, a decision on your strategy and economic plan for Spain will be made. If approved, you’ll receive a crucial document called the Entrepreneurial Activity of Interest, vital for finalizing your business visa approval.

It’s advisable to apply approximately three months before your intended travel to Spain. This timeframe allows ample time for collecting necessary paperwork, streamlining your journey through the startup visa process.

What Is Your Strategic Plan For Spain?

Your operational plan must convince the Spanish officials that your success will help provide additional funding for the country as well as enticing new investors. When it comes to submitting an inter-operational proposal for your company, the plan must be succinctly detailed about how your business will operate and more importantly how it will help the Spanish economy.

To convince the country of Spain that your operational plan should be accepted in order to secure an entrepreneurial visa in Spain, you must include an impressive curriculum vitae (CV) noting your title and role within the company. If there are several managers or partners, each participant will be assessed. As long as your business brings innovation to Spain you will be a welcome industry.

There should be other topical areas like a succinct overview of your business that includes the legal framework of your company, its potential market growth, the types of jobs that your business will yield, and the number of employees required.

You should provide the creative background or description of your business meaning the type of goods and services that will help to support the Spanish economy. Importantly to the country of Spain, your financial paperwork should include what the investment amount is to start the business, a balance sheet, a cash flow sheet from at least three years, and the future forecast of your profit and loss report.

The business plan will then be submitted to the Spanish Commercial Office. In turn, when everything passes, you will have a clear path to the Immigration Office to receive your entrepreneur visa.

Renewing Your startup Visa

As previously noted, as a successful business owner now operating in Spain, you can renew your entrepreneurial visa status. Simply put, you must continue to meet all of the initial requirements. If your company is favorably adding to the Spanish economy, then this will allow you to remain in Spain for another two years.

As a potential permanent resident, after five years in Spain, the entrepreneur can apply for a long-term residence permit. A long-term resident permit will likely be granted if the business owner has fulfilled all the requirements in creating jobs with a sound economical business in Spain.

Spain Offers Assistance

Spain warmly welcomes innovative businesses and collaborates with the private sector to attract global talent. The country offers initiatives like “Starting-up in Spain” and “Invest in Spain” under the entrepreneur visa program.

These initiatives provide complimentary workspaces in Barcelona and Madrid, connecting entrepreneurs with experts for discussions on market entry, financing, investor relations, customer outreach, and more. Start-ups are also guided towards financial support. For more details, feel free to reach out to our professionals.

You may not only want to work as a freelancer and for that you have the freelance visa that we can help you to obtain.

Different Types of Spain under Entrepreneurial Support Act of 27 September 2013 (Ley 14/2013).

• Investors:There are several types of investor visas, the most common of which is for investors who buy a property worth €500.000 or more, free of liens and encumbrances ( so called, “Golden Visa”).
• Highly qualified foreign professionals visas: the company which intends to hire Highly qualified professionals (HQP) should apply for it.
• R&D&I and training residence permit
• Intra-corporate transferees of third country nationals (non EU)