Spain is a great country to visit for vacation or a longer stay, and no matter how long you are there, there will always be great places to come back for. But, do you know that it’s also a good place to start a company and be an entrepreneur? Also, the language shouldn’t be a problem, because the people who move there already take courses, but it’s very easy to get used to it, especially for oral communication.
If you want to start a company in Spain and become a resident, you need to meet a few requirements in advance and have a project that will work. There are so many steps you need to take before you move to Spain for work, and the first one is, of course, getting an entrepreneur visa.
What is an entrepreneur visa?
It is a permit for you to become a resident for two years, that they consider as enough time to start your project and develop the company. Also, your project must meet Spanish economy interests, so they can approve your application. That means you need to explore their current market and the situation with the industry and see what they need right now.
That will help you write an exceptional project that covers the critical aspects of their economy. That’s the easiest way for your project and visa to be approved. This visa is required for non-EU citizens who want to start a company in Spain. Their laws let these people get a visa, under specific requirements, if they have a good business idea.
You can find out more here, and also you can get to know the conditions better, so you can decide what to do and how to apply for it. Keep in mind that in order to get your application approved, you have to know the Spanish market really well, so you can come up with something completely different than what they already have in the market. If you give a project for something they have, your application probably won’t be successful.
You can get this entrepreneur visa according to the immigration law from 2013, which encourages the investors outside Spain and European Union to create something there, recognizing this country as a great environment for startups. And do you know what’s the best thing with this one? You can apply and get a visa for your spouse, partner, and children too, or a person who is crucial for starting up the company, and who needs to be with you during that process.
How the application process goes?
It can be confusing for the people who already work on something and have a head full of information, but here we are, to create concise instructions of the requirements you need to fulfill to apply for this type of visa in Spain. First, you need to know that an entrepreneur visa is not as same as a travel visa.
There are different types of documents you can obtain. Entrepreneur visa is for those who want to start something new in Spain. For those who need to temporarily stay to work in an existing company, they need a Spanish Schengen visa to enter the country, or other documents, depending on which country they come from.
In order to get your entrepreneur visa, you need to visit the nearest Spanish Embassy and provide them your business plan, so they can proceed with the procedure. Usually, it takes up to 10 days until you hear back from them. Once they decide if your business plan fits their industry and economic aspects, you will get instructions on what to do next, and which other documents you will have to provide, to get the visa.
Estimate the value of your business idea
The law from 2013, known as Law 14/2013, allows you to apply for an entrepreneur visa if you have a business idea or project that is good for the Spanish economy. That will make you eligible for the visa. It only needs to be innovative, different from everything else that already exists.
If you want to apply to open a shop, you have to make sure it’s something they don’t have, and that it’s in their interest to have that economic unit in the country. That also means you will be able to hire Spanish people to work and give them a regular salary, which will help you grow, and them to be happy. It’s a bonus if it creates investment options for Spain.
Include your operational plan, your CV with proof for previous experience, and with a nicely written project that explains the legal framework, plans on how long would it take for the company to start working, and how many employees you can hire. Again, once the project is approved, you will need to provide additional documentation as required, including the financial aspects and the plan for cash flow for the next few years.
After you are a candidate, it won’t take a lot of time to get your entrepreneur visa and travel to Spain, to deal with logistics and labor. If you show initial results that match the plan or even go better than that, you will always be able to renew your visa and stay in Spain for two years more. Even if it’s not going according to the business plan, you can apply with a new idea on how to resolve the current situation and improve the impact your new company has over Spain’s economy.
Not every country in the world gives this chance to the people who want to start something new. Use this benefit and make sure you have a great project that will create a positive business environment in Spain and will attract the citizens to use your services or buy your product.
Opening new job positions is a huge bonus, but even the individual projects will have their chance if the idea is unique and useful. By having this visa, you can travel to other countries in the Schengen zone, and in your spare time, you will be able to explore the beauties of this exceptional country.