Have you ever considered traveling to Spain, maybe just for a change of work environment or to expand your existing business in Spain?. In this article, you will learn about Spain’s entrepreneur visa requirements, types, eligibility, and the documents required to apply, including other related information you may need.
About Spain Entrepreneur Visa
Spain entrepreneur visa has helped non -EU citizens who are entrepreneurs, skilled professionals, researchers, and workers in business-related companies to stay in Spain for more than three months while engaging in paid entrepreneurial-related activities.
However, the holders of a Spain entrepreneur visa should be able to fulfill all the requirements. They must provide proof that they have a viable business idea and the necessary skills which will be profitable and nondetrimental to the Spanish economy.
Similar to Spain’s Golden Visa, you have to make significant capital investments in the Spanish economy. The investment also has to be in the best interest of the Spain economy. This is equally obtainable in the Spain Entrepreneur Visa.
Acquiring a Spain visa can be difficult and time-consuming. However, it reduces the hassle of applying for a regular Spain visa. For the intended holders. It allows investors to attend to their business-related activities or professional activities, which are in the best interest of the Spain economy.
Main Purpose of Spain Entrepreneur Visa
The Spain entrepreneur visa aims to attract entrepreneurs to set up their businesses in Spain. The visa is a way for the Spanish government to promote economic growth and create jobs.
In addition, a Spain entrepreneur visa help tends entrepreneurs, skilled professionals, researchers, and worker the business-related deleted firm who want to establish, develop and carry out their business or work-related activities in pain to gain access to the Spanish economy and acquire a resident permit when their business entrepreneurship ideas in a way that makes positive impacts on the Spanish economy.
Types of Spain Entrepreneur Visa
Investors applying for a Spain entrepreneur visa have to choose the type of visa that best suit their purpose of migrating to Spain.
The types of visas under the Spain visa entrepreneur law are as follows:
#1. Visa for entrepreneurs
This visa is for foreign nationals who wish to invest in the Spanish economy. It is usually required of the investors to present a business plan with Significant capital investment.
The goal of the business idea should be able to promote the economic development of Spain.
However, it is stricter to obtain an entrepreneur visa. This is because your proposed business ideas must meet certain requirements to be accepted. This requirement may include:
What are the Entrepreneur visa Requirements?
If you qualify for an entrepreneur visa, you will need to fulfill the following:
- Create employment opportunities: this means that your project should be able to offer jobs to residents of Spain. This way help reduces the rate of unemployment in Spain. This offer is too enticing to be rejected by the Spain government.
- The process must involve a high level of technology( for instance use of algorithms or machine learning) that will promote socio-economic developments in Spain.
- Your project/business idea must be distinctive: present rare project ideas. By this, I mean your idea should be unique and incomparable to any other projects out there.
- It should be able to create good investment opportunities for intended investors who wish to maximize profits from your business.
- Your business idea should be authorized, at least having patents and recommendation letters. Hopefully, your chances of getting your application increase once you fulfill the above-mentioned requirements
#2. Golden Visa or Investors Visa
Before you can travel to Spain, you’ll need an investor visa. Investor visas are typically required if you plan to invest at least 500,000 euros in a Spanish company.
You must also be able to show proof of your investment and that you have the financial means to support yourself while in Spain.
This visa is intended for foreign nationals seeking to invest in the Spanish economy. You must make a minimum investment of one million euros in any of the following:
- Real estate investments: you will need to invest in properties worth at least 500,000 euros.
- Capital investments will require a minimum of one million euros in companies, buy debt, or government bonds.
Golden visa or investors visa Requirements
To qualify for a Spanish investor visa, you must meet specific requirements.
- It would help if you were a national from a non-European country.
- it would be best if you made at least a 500,000-euro investment in real estate property
- At least One million euros capital investments in buying public debts, stocks, or government bonds which are beneficial to Spain’s economy.
- You must have a valid passport and proof of legal residence in Spain.
- Have a stable financial resource: Spain is a very expensive country to live in, and if you cannot afford the bills, you will not be able to live here long-term.
- You will need to provide evidence that you have the means and intent to invest in Spain and that you will leave the country within a reasonable period.
- You will also need to provide documentation that proves your income and assets will be used in Spain.
#3. Work permit visa for highly skilled professionals:
A Work permit visa for Spain allows skilled professionals to work other than their own in this case; this visa is aimed at people with university degrees or equivalent qualifications which are highly skilled in their area of expertise.
Work Permit visa requirements for Skilled Professionals
You qualify for a work permit visa if you fulfill the following requirements.
- You must have a job offer from a Spanish company: Many businesses in Spain are only interested in hiring people with ties to the country, so having an offer from a Spanish company is key.
- You must have specialized skills and knowledge in high demand in the host country, Spain.
- You must also meet specific language and educational requirements.
- If you don’t meet all of the requirements, you may still be able to get a work permit if you can prove that your skills are in high demand in Spain.
- Your annual salary or earnings must be above 50,000 euros for your offer to be valid for the application.
#4. Resident Visa
This type of visa allows non-EU citizens to stay in Spain for one year, and you need to start your business during this time.
In other words, there are two types of resident visas: a tourist visa and a work visa. A tourist visa is valid for a period of up to six months. And allows tourists to visit only the country’s major attractions. A work visa is valid for up to one year. It will enable foreigners to work in specific sectors of the Spain economy.
#5. Researcher visa
A researcher visa is a visa that is issued to researchers so that they can conduct research in the country that they are visiting.
It is important to analyze the purpose of your research and the benefit the country will incorporate into your study.
In addition, It is also a good choice for researchers and students who carry out educational research in foreign countries like Spain.
However, postgraduate and undergraduate students can not use the researcher visa to study at a local university or college. Therefore, if you need to study in Spain as part of your research, you will need to apply for a Spain student visa instead.
The process of obtaining a researcher visa can be complicated, so it is important to speak with an immigration lawyer. The lawyer can help you determine which visa is right for you and guide you through the application process.
Eligibility Criteria for Researcher Visa
To be eligible for a Researcher Visa, you must meet the following requirements:
- You must be a non- EU citizen.
- have a valid passport or travel ID
- you must be over 18 years of age
- The visit must be for the purpose of conducting research or attending a scientific, academic, or professional conference.
- You must have an invitation from a Spanish institution or organization to conduct research in Spain.
- You must present proof of sufficient money to cover their expenses while in Spain.
- Health insurance coverage. Other types of visas that may be available to researchers include the Student Visa and the Temporary Work Visa.
Eligibility Criteria for Spain Entrepreneur Visa
Spain entrepreneur visa is accessible to anyone who wants to apply. only if you meet the requirements.
On the contrary, if you are from the four Schengen members or a citizen of EU member countries, you can migrate to Spain for entrepreneurial purposes without this visa.
For non-EU nationals who will need this visa, you will have to fulfill the following requirements.
- you must be a citizen of Non-European citizens
- You must have a valid passport or travel document.
- you are over 18 years of age (Spain’s Legal age )
- You must have a clean criminal record.
- Your business proposal must meet the requirements specified by the visa.
- Your business concept needs to be able to create jobs and require an annual revenue of more than $250,000. You will also need to provide evidence that you have the money to fund yourself while you’re in Spain.
Once these requirements have been fulfilled, you can apply for the visa.
Document requirements for Spain Entrepreneur Visa Application
After you have blended with Spain entrepreneur visa eligibility criteria.
The next step is to get the necessary documents ready. For example, forwarding your application will require you to present the following documents:
- Filled and signed national visa application form
- Two- recent passport photograph
- A valid passport
- A proof that you have met all the requirements
- Financial resources: you will need an original and a copy of your bank statements proving that you have a regular source of income for you and your family members.
- A business plan: your business plans should be detailed and thorough. It should highlight what you tend to contribute to the Spanish economy. Having a patent recommendation letter will increase your chances of getting your application approved.
- Provide a police clearance certificate: the original and a copy of your police clearance certificate should not be more than 90 days from your application. Sworn translation is required if necessary.
- Health insurance certificate: original and a copy should be submitted along with your application form. Your insurance company must be recognized in Spain.
Note that all foreign documents must be authorized by immigration law and submitted with an official translation into Spanish.
How Can I Apply for Spain Entrepreneur Visa?
The application process varies depending on the type of visa you are applying for. Most require you to submit documentation proving your business plan and investment funds. You may also need to meet with government officials and undergo a financial examination. If everything goes as planned, your application will be processed within thirty days.
To apply, you will need to meet the following requirements:
- Collect an online or hard copy application form: The online application is available on the Spanish Ministry of Economy and Competitiveness’s website. In contrast, the hardcopy application can be made at a Spanish consulate or embassy.
- Submit the application form (filled and duly signed ) to the Spanish consulate in your home country.
- Meeting with a consular officer in person or providing additional documentation.: Each applicant’s case is unique, so it’s essential to speak with a lawyer or immigration specialist to get advice on the best way to pursue your visa goals.
- It would help if you had a business idea that you want to develop in Spain. It should be able to reflect a unique business idea that is in the best interest of the Spain economy.
- Please provide proof of investment in a business in Spain, as well as evidence that they will create jobs in Spain completed online or at an embassy or consulate.
- You will need to attach documentation in support of your entrepreneurial efforts. This can include financial statements, business plans, and other proof of your business viability.
The application procedures can be a bit daunting, but with a little effort and knowledge, you can get the visa you need.
How long Does it take to Process Spain Entrepreneur Visa?
Unlike other Spain, visa applications take up to three to six months to process. Spain entrepreneur visa takes less than two weeks minimum and up to 30 working days maximum depending on the type of visa. However, it can be expedited if you meet all the requirements and forward your application earlier than your due date for departure.
How long is the Spain Visa Valid for?
A Spain entrepreneur visa is valid for three years. However, it can be renewed for an additional two years. It is a great option for those looking to start a business in Spain, as it allows you to live and work in the country. To qualify for the visa, you must meet certain criteria, such as having a valid business plan and enough funds to support yourself during your stay.
Frequently Asked Questions
How Do I Renew a Spain Entrepreneur Visa?
If your Spain entrepreneur visa has expired, don’t worry! Renewing your entrepreneur visa is a fairly simple process. By following these easy steps, you should be able to renew your visa:
- First, you will need to gather the required documents. This includes your passport, ID card, proof of residency in Spain, proof of economic solvency (e.g., bank statements), and proof of registration as an entrepreneur.
- Next, you will need to schedule an appointment at the nearest Spanish consulate or embassy. You can find a list of these locations on the website of the Spanish Ministry of Foreign Affairs and Cooperation.
- At your appointment, you will need to submit the documents mentioned above.
- Visa Renewal Fee: you must show proof that you have paid the renewal fee.
- The consular officer will then review your application and may ask for additional information or clarification.
Can I Work in Spain With Spain Entrepreneur Visa?
Yes, you can. Spain entrepreneur visa can be a great opportunity for business growth, but it’s important to fulfill the Spain entrepreneur vis requirements to avoid any potential issues.
If you have a valid Spain Entrepreneur Visa, you may be able to work in Spain without any problems. However, ensure that you stay up-to-date on the latest changes so that you don’t run into any snags.
How Much Does it Cost to Get a Spain Entrepreneur Visa?
The cost of a Spain entrepreneur visa can range from nothing to €10,000. Processing fees for an entrepreneur visa typically range from €200 to €2,000.
In addition, you must also pay for medical insurance and cover. It can range from €1,500 to €10,000, depending on the size and complexity of the business.
Despite the high costs, an entrepreneur visa is a popular option for those looking to start a business in Spain. The visa offers several benefits, including the freedom to work anywhere in the EU and access to Spanish social security and healthcare systems.
The Spain entrepreneur visa is an excellent opportunity for those looking to start their own business there.
The Spain entrepreneur visa application process is simple. The same goes for its requirements which are not too difficult to meet. Many resources are available to help you through the process, and the benefits of having this visa are many.