Entrepreneur Visa in Spain

Since the Entrepreneur’s Law came into force, Spain has become one of the key destinations for entrepreneurs worldwide, establishing itself as a major European hub. Many foreign nationals choose to launch their startups in Spain, applying for the Entrepreneur Visa, which allows them to set up their business and obtain residency in the country.

Are you wondering what this startup visa entails and how it works? What are its benefits, and how can you apply? What do you need to start a business in Spain as a foreigner? What exactly is an Entrepreneur Visa in Spain? What is a business plan for immigration purposes, and why is it so crucial to have one?

Here, you’ll find all the essential information about residence permits for entrepreneurs in Spain, from the Entrepreneur Visa requirements to the necessary steps to apply for this permit.

What Is the Entrepreneur Visa in Spain?

If The Entrepreneur Visa is a residence permit that allows individuals to live and work in Spain for up to three years, provided they launch a business project that benefits the Spanish economy. It is specifically designed for non-EU citizens who wish to open a business in Spain and meet certain requirements established under Spain’s Immigration Law. These requirements include developing an innovative project aligned with the country’s general interests.

This “general interest” means the business idea must offer specific benefits, such as creating jobs, fostering national or foreign investment opportunities, utilizing advanced technology, and, if possible, introducing a unique concept to the market without directly competing with existing businesses in Spain.

Is the Entrepreneur Visa the Best Option for Starting a Business in Spain?

If your project is innovative and contributes something new to the Spanish economy, the Entrepreneur Visa could be the ideal choice. However, if your project does not meet the high standards of innovation, you might consider applying for a self-employment permit, which is a valid alternative for more conventional business ventures.

For projects involving advanced technology, data analysis, or innovative business methods, the Entrepreneur Visa is the fastest and most favorable option. Applying for the Entrepreneur Visa in Spain also offers a streamlined process, making it the preferred route for qualified candidates.

Advantages of Starting Your Business with the Entrepreneur Visa

The immigration law for entrepreneurs in Spain greatly simplifies the process for foreign entrepreneurs. One of the main advantages is that, unlike other countries, no specific initial investment is required. Other benefits include:

• A work permit without the complicated requirements of other visas.
• Free movement within the Schengen Area.
• No need for physical presence in Spain during the entrepreneur visa application process, as you can designate a representative.
• Joint application for your family, allowing you to bring your spouse, minor children, and, in some cases, dependent parents over 65 years old.

How to Apply for an Entrepreneur Visa in Spain?

To start the process, whether you’re in Spain or in your home country, the first step is to develop your business plan. This document should detail your business proposal and include a comprehensive market analysis, a description of your products or services, and financial projections. While it might seem challenging, having the help of specialized lawyers, like those at Lexmovea, ensures your plan is in optimal condition for approval.

In short, the entrepreneur visa is an excellent option for those who want to launch an innovative idea in Spain and benefit from a constantly growing business environment. With the right support, you can ensure that your application is fully prepared and realize your dream of starting a business in Europe.

Business Plan Approval at ENISA

Once you have your business plan ready, the next step is to send it to ENISA, the National Innovation Company of Spain, which is responsible for reviewing and approving business plans for entrepreneurial projects. To do this, register on their website and verify your account. Once logged in, select “Residency Authorization for Entrepreneurs” to access the relevant section.

Once inside, you will need to complete information about yourself and your company. ENISA will evaluate the plan based on two key criteria: innovation and scalability.

Innovation

For your project to meet the innovation criteria, it must have one of the following elements:

• Have received public funding for R&D&i projects in the last three years.
• Have Social Security bonuses for Research Personnel.
• Possess a Binding Report from the Ministry of Science and Innovation.
• Hold an Innovative SME Seal or a certification as a Young Innovative Company.
• Have won or been a finalist in regional entrepreneurship awards.

If you don’t meet these requirements, you can demonstrate innovation by detailing aspects such as the development or use of patents, proprietary technology, unique processes, or a differentiated business model.

Scalability

This criterion evaluates the potential of your business in the Spanish market. You must include a description of your product or service, company background, and investment and employment projections, ideally creating at least 10 jobs within three years. If that’s not possible, a goal of 5 jobs is also acceptable. Outline how you will finance these positions and mention direct competitors, advantages and disadvantages, and your team’s experience.

Submission to the UGE Entrepreneur Visa Spain

After submitting the business plan to ENISA, send your visa application to the Unit for Large Enterprises and Strategic Groups (UGE-CE). The UGE will verify your professional profile and your business plan. If ENISA approves your plan, it will inform the UGE, and if there is no response after 20 days, the application is considered approved under the silence administrative rule.

It is important to note that ENISA may take up to three months to review the plan, so the total process can take up to four months. If you submit the application from Spain, it is recommended to send both documents simultaneously to speed up the resolution.

Next Steps After Entrepreneur Residence Approval

Once your application is approved, there are two possible scenarios:

1. If you are in your home country: You will receive a one-year visa that allows you to travel to Spain, and once you arrive, you can exchange it for a three-year residence card (TIE).
2. If you are already in Spain: You can start your business project and schedule an appointment at the police office to obtain your three-year residence card.

In Case of Rejection of the Entrepreneur Visa Application

If the entrepreneur visa application is denied, you can opt for a self-employed work permit, which does not require an innovative approach, or consider alternatives such as the Golden Visa, which is obtained by investing in real estate in Spain.

Requirements for the Entrepreneur Visa

To obtain the entrepreneur visa in Spain, it is important to meet certain essential requirements in addition to the general requirements for other types of visas.

1. Your Profile as a Professional

The Unit for Large Enterprises and Strategic Groups (UGE) will first assess your professional profile. This means you need to demonstrate your ability to carry out the project through a curriculum that shows your education, profession, and experience. The more experience and specific knowledge you can demonstrate, the higher your chances of success. Holding a degree or master’s related to your business activities will be an advantage.

2. Business Plan for the Entrepreneur Visa

The business plan is the key document in the entrepreneur visa application, as it must be submitted to ENISA for approval. In this document, it is crucial to detail how your project will contribute to the innovation and economic development goals valued by Spain.

What Should Your Immigration Business Plan Include?

Your plan should provide a detailed market analysis, a description of your product or service, and financial projections. You need to demonstrate that there is a real market opportunity, that your product or service will add value, and that you have specific funding sources to support the project. Financial projections are particularly important, as you need to include the funding sources that will ensure your business’s sustainable operation.

Maximize Your Chances of Success: Trust Specialists to Develop Your Business Plan

At Lexmovea, our team of lawyers specializes in these types of projects and knows how to structure and present your business plan to maximize the chances of acceptance. If you need assistance, our team is ready to help.

3. Your Project Must Add Value to the Spanish Economy

The business you propose cannot be conventional, such as a restaurant or language school. It must be an innovative project, preferably with a technological component, that generates employment and promotes investment in Spain. It is essential that your startup demonstrates clear value and a positive impact on the Spanish economy.

Additional General Requirements for the Entrepreneur Visa in Spain

In addition to the business plan and professional profile, you must meet the following general requirements to apply for the visa:

• Be a citizen of a non-EU country.
• Be at least 18 years old.
• Have no criminal record in the last five years before applying.
• Not be in an irregular situation in Spain.
• Have health insurance (public or private) with coverage in Spain.
• Have sufficient financial resources, equivalent to €30,250 in your bank account.

Documents for the Entrepreneur Visa in Spain

To begin the application, ensure you have the following documents:

• Application form.
• Complete passport.
• Proof of payment of the corresponding fee.
• Bank balance certificate showing €30,250 in savings (€11,340 for an additional applicant, and €3,780 for each dependent).
• Business plan demonstrating how your activity will benefit the Spanish economy, including job creation, innovation, and socioeconomic growth.
• Private health insurance with full coverage in Spain.
• University degree or at least 3 years of work experience in the sector.
• Commitment to social security obligations once the permit is granted.

What Business Idea Should I Choose?

For the visa to be approved, your project must be innovative and technological. If you’re unsure of the best direction for your business, check out our high-demand business ideas in the Spanish market, ideal for starting with low costs and great growth potential.

Entrepreneur Visa Renewal in Spain

Renewing your visa requires continuing to meet the initial requirements. You must demonstrate that your business continues to benefit the economy and create jobs in Spain. This renewal will allow you to legally stay in the country for an additional two years. Remember, you cannot stay outside Spain for more than 183 days during the first period of authorization.

If you need help with your initial application, visa renewal, or business plan development, Lexmovea’s lawyers are available to guide you every step of the way. Starting a business and living in Spain can be an accessible experience, and we are here to make that process as easy and clear as possible for you.

Legal Framework for the Entrepreneur Visa in Spain

The entrepreneur visa in Spain is primarily regulated by Law 14/2013 on Support for Entrepreneurs and their Internationalization. This law, published in the Official State Gazette (BOE) on September 27, 2013, was designed to promote the creation and expansion of companies in Spain through specific residence permits for entrepreneurs, investors, and highly qualified professionals.

Entrepreneur Law 14/2013 in Spain

The Entrepreneur Law of 2013, published in the BOE, was designed to facilitate the creation and expansion of businesses, including specific permits such as the entrepreneur visa, residence for investors, and visas for highly qualified professionals. These permits can also be applied for from Spain, allowing for an initial residence of up to three years (with the possibility of renewal) as opposed to one year, as is the case with other immigration permits.

Key Points for Applying for an Entrepreneur Visa in Spain

1. Special Residence Permits (Chapter V of Law 14/2013): The law regulates the granting of residence permits for entrepreneurs, allowing these permits to be applied for directly from Spain and granting an initial residence of up to three years, with the possibility of renewal.
2. Requirements for Projects of General Interest: To obtain the entrepreneur visa, the project must meet innovation and economic impact generation criteria in Spain. These projects must be reviewed and approved by ENISA (National Innovation Company), evaluating aspects of technology, competitiveness, and job creation.
3. Authorization from the Unit for Large Enterprises and Strategic Groups (UGE-CE): The UGE-CE, under the Ministry of Inclusion, Social Security, and Migration, is responsible for granting the residence authorization for entrepreneurs after ENISA’s validation. The UGE must issue its decision within 20 business days, and if no response is given within this period, it is considered favorable under administrative silence.
4. General Requirements of the Immigration Law (Royal Decree 557/2011): The applicant must meet the general immigration requirements, such as being over 18 years old, having no criminal record in the last five years, having health insurance with coverage in Spain, and having sufficient financial resources to maintain the project.
5. Advantages of the Entrepreneur Visa: According to Law 14/2013, the entrepreneur visa allows mobility within the Schengen Area and direct family reunification. Additionally, the application can be made through a representative, making the process easier for entrepreneurs who are not yet in Spain.

Frequently Asked Questions About the Entrepreneur Visa in Spain

1. What is the Entrepreneur Visa and How Does it Work in Spain? The entrepreneur visa is a residence permit in Spain designed for non-EU nationals who wish to start an innovative business project in the country. This visa allows you to live and work in Spain while developing your business, as long as the business positively contributes to the Spanish economy.
2. What Type of Businesses Qualify for the Entrepreneur Visa in Spain? The entrepreneur visa in Spain is intended for innovative projects, preferably with a technological component or high added value. Conventional businesses, such as restaurants or stores, usually do not qualify for this type of visa. The idea is that the project has a positive impact on the economy by creating jobs and investment opportunities.
3. How Long Does It Take to Apply for the Entrepreneur Visa in Spain? The approval of the entrepreneur visa in Spain can take up to 20 business days once the Unit for Large Enterprises (UGE) receives confirmation of the plan’s viability from ENISA. However, ENISA can take up to three months to review the business plan, so the entire process can take up to four months.
4. Can I Apply for the Entrepreneur Visa from Spain, or Do I Have to Do It from My Home Country? Yes, you can apply for the entrepreneur visa from Spain as long as you are in legal status, such as with a tourist visa within the first 90 days. If you are in your home country, you can also apply through the Spanish consulate.
5. Can I Include My Family in the Entrepreneur Visa Application in Spain? Yes, the entrepreneur visa allows for a joint application to include dependent family members, such as a spouse and children under 18. In some cases, it is also possible to include parents over 65 who are financially dependent on the applicant.
6. What Happens if My Entrepreneur Visa Application is Denied? If the entrepreneur visa application in Spain is denied, you have alternatives. One option is to apply for a self-employed work permit, which does not require an innovative business, or consider the golden visa, which can be obtained through an investment in real estate in Spain.
7. How Much Money Do I Need to Show for the Entrepreneur Visa in Spain? For the entrepreneur visa in Spain, you must have sufficient financial resources, which amounts to €30,250 in your bank account. For an additional family member, you need to show an extra €11,340, and €3,780 for each additional dependent.
8. What Happens if I Have an Entrepreneur Visa and Spend a Lot of Time Outside Spain? If you have the entrepreneur visa in Spain, you cannot stay outside the country for more than 183 days in one year during the first period of residence authorization. This requirement is important to maintain your residence status in Spain.
9. How Much Money is Needed for the Entrepreneur Visa in Spain? For the entrepreneur visa in Spain, there is no fixed amount, but you must demonstrate sufficient resources for your project and living expenses. Typically, it is recommended to have at least €30,000 to €40,000, depending on the business. A solid business plan is key, and a specialized lawyer can guide you based on your specific case.
10. What Are the Steps to Get an Entrepreneur Visa in Spain? To obtain a residence visa for entrepreneurs in Spain, you need to submit an innovative business plan to the Unit for Large Enterprises (UGE) for approval. You must also demonstrate sufficient financial resources. After approval, apply for the entrepreneur visa in your country’s consulate, and upon arrival in Spain, register and apply for the TIE within 30 days. Having legal assistance can facilitate the process.
11. What is the Entrepreneur Visa in Spain Like? The Spain Entrepreneur Visa allows non-EU nationals to reside and develop innovative projects with economic or social impact, approved by the UGE. It is valid for one year, renewable upon meeting requirements, and allows for including family members.