Starting A Business in Spain – Visa Eligibility, Plan Essentials, and More
As a businessman and founder of 3 startups, I’ve executed various strategies to grow my business and the majority of them have been in my favor completely.
Your business idea should be prioritized on its expansions toward different domains and audience-heavy regions.
I was reading an article recently, from which I would like to share a notable point, stating that
Spain’s entrepreneurial system is growing, and the country is known for being welcoming to entrepreneurs and innovation. (InvestinSpain).
The terrain of this Latin American state can be a perfect getaway for setting up your new office or factory.
But how can someone apply for a Spanish entrepreneur visa, and execute a well-established business project?
Sit back and relax because the blog post will give you a complete guide to kickstart your organization in Spain without any wreckage.
Stay tuned till the end!
What’s Needed in the Business Plan?
As per my experience, your plan must align with the authoritarian laws of Spain, especially the entrepreneurial law of 14/2013 (From the Constitution of Spain).
The characteristics of your business should be precise towards its aim. So I’m giving you three factors that you should always keep in mind while investing your money here.
Audience living expects new ideas and innovations from foreign countries that will help their lifestyle to become more convenient.
Next off, your business should be growth-oriented and scalable enough to provide jobs in service or production unit sectors.
Lastly, your brand should influence foreign investments that will help to grow the economy of this domain, ensuring regular forex exchange.
Did you know? Spain’s port infrastructure is excellent due to its geographical position and maritime history. Spain ranks second in Europe for maritime transport of goods. (DE MICCO AND FRIENDS).
Entrepreneur Visa Requirements
While a Spain Visa has some perks and passport-enhancement qualities, to get it on paper as per my lawyer you have to through some quality checkpoints which were issued by the government of this country :
You have to be located in Spain on Legal terms, and it’s the most important factor. Regardless of this, all the factors below will be nullified.
Your age must be 18 or above.
Criminal records should be cleared in your profile, and you must have not been involved in any law infringement in the last five years.
Always check that your name is not registered in any “no-restriction” lists of countries that Spain has good relations with.
Give official proof of the fact that you can support yourself and your family financially by stating a minimum monthly income of €2,400 for your expenses and €600 to spend on each family member.
You must have to be a subscriber of Health insurance from a private or public government agency.
Lastly, fulfill all the visa processing fees.
How to Write the Business Plan?
However, A good brand creation and its sustainability depend on a well-strategized business plan that is crafted with precision by expert teams of various domains like marketing, finance, and production monitoring bodies.
As per my advice, you have to conduct a market analysis to observe the latest trends and customer demands that will help you sustain and establish your brand in the long run.
But how can someone safeguard themselves from legal compliance in the eyes of the Spanish government?
No worries, you can register your entrepreneurial visa on the authoritarian portal of the Spanish government named Unidad de Grandes Empresas or UGE, To get solutions for visa-related issues and other problems to avoid disruption in your workflow.
You can apply on this portal from anywhere in the world but if you are a citizen of Spain you can visit the UGE office located in Madrid., to get verified by the Finance and Bureaucratic Ministry of this country. This organization can also review your business model to ensure that it will be suitable for their region or not.
Intriguing Insights This pie chart here shows the export territories of Spain and its business partner countries, in which EU 28 is the biggest customer of this country.
When to Go for a Self-Employment Visa?
If you are an unfit candidate for getting a business visa, but still aiming to set up your business there,
So don’t be sad because there’s an alternative gateway to fulfill your dreams and that is none other than the self-employed visa (Spain autónomo visa).
In my opinion, it is the best option for freelancers or small business owners who don’t have robust capital to spend on the early expansion of their brands.
After getting this, you need to acquire enough funds for yourself and your company till the tenure of this visa expires, which consists of 1 year. Try to show proof of contracts with Spanish companies or clients.
The next process involves the application for the residence permit, then applying for foreign ID ASAP, and then signing up for social security as a freelancing individual.
The residence permit you will get shortly thereafter will last for the time span of 2 years and can be extended as per your requirements.
After spending at least 5 years or more in this country you are finally eligible to submit applications for permanent residency and after claiming it you can run your business without any interruption from any authoritarian body.
Make sure to check all these factors I have mentioned above while starting your organization in Spain to make your experience Hassle-free.
