This residency permit allows you to legally reside in Spain for an initial period of two years, provided you have a business plan of interest to the Spanish economy.
What does it mean to have a business or entrepreneurial project?
The business plan must be conceptualized and designed with a clear vision of innovation that your project will be to the Spanish economy. It should include your experience in the entrepreneurial field to be developed, your capacity to generate employment in the national market and your economic growth.
The benefits given with this type of visa are groups in two main elements:
- A single authorization or reside and work, valid in the entire national territory and including dependent family members if they meet the foreseen requirements (spouse, minor children, and other dependents).
- Freedom of movement in the Schengen states.
Requirements to apply for your residence permit for entrepreneurs
If you have an entrepreneurial idea that you believe could add value to the Spanish economy and environment in which we live. If it contributes to innovation and job creation, then you might want to consider if you meet the requirements for this residency permit.
- Having legal residency in Spain.
- Being over 18 years old.
- Having a clean criminal record in Spain for crimes outlined in the Spanish legal system and in the countries where you have resided in the previous five years.
- Having no cause for denial in any EU country.
- Have contracted a health insurance provider with a company authorized to operate in Spain.
- Have sufficient financial resources for yourself and your family members during this period of residency.
- Pay the fee required to process the permit or visa.
Procedure to request your residence authorization for entrepreneurs
If the entrepreneur is currently in Spain with a residency permit:
- It will be processed electronically, and it is preferable to have legal representation.
- The initial validity of the residency permit is of two years, renewable if applicable.
- Under this visa are included: investors with a business project that is going to be developed in Spain and has been considered general interest. Those who plan on entering and staying in Spain for a period of one year with the sole or main purpose to carry out the processes prior to embarking on the entrepreneurial venture.
- In the case of an investor with a business project, the interested party must submit a favorable report from the Commercial Office of the geographical area, this includes the visa application, and verification that the project is considered one of general interest.
- In the case of Entrepreneurs, an entrepreneurial activity will be understood as on that is innovative, with special interest for Spain and, because of this, has received a favorable report from the Commercial Office where the investor submits the visa application.
- Model of the residency authorization application
- General documentation
- Specific documentation for entrepreneurs
- Documentation for relatives
- REQUEST FOR A FAVORABLE REPORT FOR ENTREPRENEURIAL AND BUSINESS ACTIVITY
- Additionally, and depending on the specific case, extra documentation might be requested to support and accompany the information provided in the applications. A legal advisor will be able to support you in this. Each review and analysis is carried out carefully, and for that reason it is recommended to have legal council in this type of visa application, to also supervise the giving of the maximum possible documentation.
This residency authorization permits you to live with your family. Relatives that can apply for residency permits are:
- Your spouse or partner
- Minor children
- Children of legal age who are economically depended on the principal visa applicant and who have not constituted a family unit themselves.
- Ascendants in your care, that is, your parents, who accompany the principal visa applicant.
They must comply with the necessary documentation. The request to join this authorization may be requested jointly and simultaneously, or subsequently provided they meet the previously established requirements.
*Our contribution from Duguech & Dip
- We have the right team to review your entrepreneurial project.
- We advise you when completing the necessary documents so that the documentation presented is as complete and reliable as possible for the reviewal from the Large Businesses Unit.
- We carry out the procedures to request the viability of the project by recognized institutions.
- We can provide our professional services for electronic filling and follow up of the application.
- You will receive individual advice for each of the family members who accompany you in the application for residency permits.
- We are available at all times by phone or in person for any advice you need or questions you may have.
* This information does not constitute legal advice under any circumstances, serving only for informational purposes. If you need professional services in these matters, please contact us.