The Spanish Entrepreneur Visa was established for expats that want to start a business in Spain. The business should be innovative and of economic interest to Spain. This article explains what that means and how to get one.
There are two ways to apply for a Spanish entrepreneur visa:
- You can apply outside of Spain: this will give you a one year visa which will give you time to do the necessary paperwork required to set up your business, procure funding, etc.
- You can apply in Spain: this will give you a two year residence permit to get your business up and running.
What are the requirements for a Spanish entrepreneur visa?
Write a business plan
To obtain a Spanish entrepreneur visa, you have to write a business plan. The Spanish Government stipulates you use the following outline: Spanish Business Plan Outline
Your business plan must be deemed of economic interest to Spain before it is approved. It is of economic interest if it:
- Creates a significant number of new jobs in Spain.
- Is in an industry of strategic importance to Spain. These are: information and communications technologies, renewable energies, the environment, water and water treatment, health sciences, biotech and aeronautics/aerospace.
The plan must include:
- The entrepreneur’s CV and future role in the company.
- A description of the business including: planned start date, location, legal structure of the business, industry, economic impact of the investment, the estimated number, and type of, jobs it will create.
- Description of the product or service provided, emphasizing what makes it innovative.
- Market analysis including size of the market, growth potential, future competitors.
- Detailed marketing plan.
- Investment required to launch the business.
- Detailed financial statements: balance sheet, three years of cash flow and profit and loss (P&L) projections.
- The applicant must be at least 18 years old.
- You must not be in Spain illegally.
- No existing criminal record in Spain, or in any other country in which you have lived for more than 5 years.
- Not have been denied entry in any territory in which Spain has signed a reciprocal agreement.
Can family members accompany the entrepreneur?
Yes, they may. They can apply for visas at the same time as the entrepreneur, or after the entrepreneur has received approval of their application. Family members that can accompany them are:
- The entrepreneur’s spouse or legal partner.
- Underage children, or children that are economically dependent upon the entrepreneur.
- Parents of the entrepreneur.
How long does the Spanish entrepreneur visa/residence permit last?
If they apply outside Spain, the initial visa is good for one year. If they apply inside Spain, the initial residence permit is good for two years.
The visa/residence permit can be renewed in two year increments.
What other documents do I need to submit?
- A completed application
- Copy of your passport: every page must be included
- Certification that you have no criminal record in any country in which you have resided for five years or more- this must be apostilled.
- Proof of sufficient economic resources to support you, and any family member that accompanies you, for the duration of the visa.
- Proof of health insurance.
- Proof that you have paid the tax required to apply for the visa.
- Business plan (including financial statements)
- The entrepreneur’s CV.
All of the documents must be in Spanish, or translated into castellano by an official translator and “sworn” (jurado). All documents issued by a foreign government must carry an apostille.
What is the procedure for obtaining the entrepreneur visa and how long will it take?
All applications processed outside of Spain must be done at a Spanish Consulate. In this situation, the authorities legally must respond to your request within 10 working days.
For application processed in Spain, all of the documents listed above must be submitted electronically (via a Spanish person or entity that has a digital certificate). Following this, the authorities legally must respond to your request within 20 days. If you do not receive a response within this time period, your application is automatically approved (approval due to administrative silence).