Spain is attractive for its climate and wide opportunities for the development of innovative business and the implementation of its ideas. That is why it is so popular among business immigrants. Spain retains its investment attractiveness not only in tourism but also in business. In particular, the country is not inferior to its neighbors in the development of new technologies. Many global companies have opened branches or immigrated to Spain.
In 2013, the Government of Spain adopted the Law on Support for Entrepreneurs and Investors in Spain. Today, Spain maintains one of the leading positions in the development of the start-up ecosystem. Thanks to the law, more and more foreign investors from non-EU countries immigrate and inject capital into the Spanish economy.
In 2016 alone, joint-stock companies and Spanish venture funds invested more than 2.3 billion euros in start-up projects. Today, this figure has grown significantly. Under Spanish law, an immigrant can apply for a residence permit in Spain without investing huge amounts.
A start-up visa to Spain is a great opportunity for active entrepreneurs who have an innovative idea for a useful project. Businessmen have all the conditions for business immigration to a European country and the foundation of their own start-up in Spain. Moreover, it is not even necessary to invest one’s own funds in start-up capital.
The fact is that in Spain there is a large number of incubators, accelerators and business angels. They help start-ups with advice and funding by attracting successful investors. The main thing is to have a working idea and prove that business will benefit the Spanish economy.
What criteria must meet the project for a start-up visa in Spain:
- Benefit the economy of the country and the region as a whole;
- Develop a scientific and technological branches of the economy;
- Create new jobs.
Compliance with at least one criterion is mandatory for opening a start-up in Spain.
To get a start-up visa to Spain, an entrepreneur needs to get approval from the Trade and Economic Representation of Spain in the country of residence. Only with such a document the applicant can apply for a start-up visa.
Documents to be submitted to the Chamber of Trade and Economic Representation of Spain:
- Professional profile of an entrepreneur;
- Description of the business;
- Description of the product or service;
- Market analysis;
- Financing schemes.
In order to obtain an entrepreneur visa or a start-up visa in Spain, the applicant must prepare a clear and convincing business plan. It is worth highlighting the scope of business and the benefits that the new business will bring to the country.
A start-up visa to Spain is issued by the embassy or consulate for one year. After that, the start-up founder with his family can be applied for a residence permit on a simplified system. A residence permit can be obtained for two years, after which it can be renewed for another two years.
Criteria for obtaining a residence permit in Spain:
- Lack of criminal record;
- Adult age (over 18);
- Availability of necessary funds for a comfortable stay;
- The presence of medical insurance.
Residence permit in Spain for a start-up founder and his family is issued for two years with the possibility of extension for another two. After living in Spain for 5 years and actively working on his start-up, a foreigner can apply for permanent residence. This gives the entrepreneur permanent resident status in the Kingdom.
Providing evidence of the success of the start-up, as well as the availability of adequate funds, it is not difficult to obtain permanent residence in Spain. And after 10 years of legal stay in the country, a start-up founder can get Spanish citizenship.
Thus, a creative entrepreneur with a useful business idea for the Spanish economy can establish a start-up in a European country. Moreover, he can take advantage of the system of accelerates and venture capital funds, which is very developed and open here. As in Canada, to get a start-up visa and immigrate with your family to Spain, you do not have to invest your money. As in Spain, when applying for a start-up visa in Canada, the applicant receives permanent residence, and then Canadian citizenship.
Interested in business immigration to Spain? A start-up visa is a real option for you and your family.