There are two options:
- A startup visa, if you are outside of Spain and you need to come to Spain to make the necessary preparatory arrangements to do business here.
- A residence permit, if you are currently in Spain and can set up the business
There are neither minimum capital requirements nor a minimum number of jobs to create. The Spanish system is based on a case by case analyses. For this reason, business plans are required to know if the activity has a special economic interest for Spain or not.
Who has to apply for the visa or residence permit?The entrepreneur or his/her legal representative must apply for the visa or residence permit via the application form.
Where can you apply for it?Visa applications must be made atthe Spanish Consulate in the country of origin or residence.
How long does the permit last?• Visa: 1 year
• Residence permit: 2 years
• Renewal of the residence permit: other 2 years
How is the project assessed?The case by case analyses is based on the decision made by business experts. The Directorate-General for International Trade and Investments (DGCOMINVER) is in charge of assessing the activity. To know if the activity has a special economic interest for Spain, several elements are taken into account:
👉 The applicant’s professional profile, his/her training and professional experience as well as his/her involvement in the project.
👉 The business plan, including at least the following aspects:
✅ 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.
✅ Description of the product or service: the description shall be detailed and include the innovative aspects.
✅ Market analysis: assessment of the market and expected evolution, description of the possible competitors, assessment of potential consumers and analysis of supply and demand.
✅ Financing: investment required, sources of financing and financial plan.
👉 The added value for the Spanish economy.
What documents do you need to submit with the application?
- Health insurance documents. Applicants must take out public or private health insurance with a company operating in Spain.
- Background checks.
- Proof of sufficient resources.
- 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
What other benefits are there?
- With the visa and residence permit, you may live and work anywhere in Spain, including relatives if they meet the expected age labor regulations.
- Combine processing of permits for direct family members:
- Spouse or unmarried partner, children, parents.
- Streamlining processing: Visa - 10 working days, Residency - 30 working days
- The application for residence permits and renewals extend the validity of the stay or residence status of the applicant until the procedure is terminated.