Requirements to obtain residency as an entrepreneur in Spain
To obtain the entrepreneur’s residence in Spain you must fulfill three fundamental requirements:
When you submit the application to obtain the entrepreneur’s residence, you must prove your curriculum. You must not only demonstrate your academic training. In addition, you must certify that you have sufficient experience and involvement for the project you want to develop in Spain. The more skills and knowledge you can demonstrate, the more chances you will have to obtain the entrepreneur visa.
Basically you must provide a market analysis of your product or service and a financial analysis as detailed as possible. That is, a description of the main activity, its economic impact and location. In addition, the number of jobs required to carry it out, with the functions to be developed in each job, and the sales strategy, if applicable.
The added value of your business plan is key to apply for residency as an entrepreneur in Spain. You must demonstrate that what you offer is a real market opportunity and, in addition, a source of employment. The most important thing will be to provide detailed information about the sources of financing to sustain the success of your business.
The more innovative your project is, the more chances you will have to obtain the entrepreneurial residency. It must be a project with value for the Spanish economy, and represent an opportunity for both national and foreign investment.
What to do if your application for the entrepreneur’s residence has been denied?
Let’s suppose that your application for the entrepreneur’s residence has been rejected. In this case, you can apply for a work permit as an employee. With this authorization you will also be able to create your company, but your project will not be required to be highly innovative.
How to renew the entrepreneur’s residence permit
The initial permit has a duration of two years. After this period, you must prove that you continue to carry out your work activity in Spain, fulfilling all the requirements demanded for the first time. If the company has a good economic projection, your entrepreneur’s residence will be easily renewed for two more years.
Do you need help with the application for the entrepreneur residence? Is it about to expire and you need to renew it? Schedule an appointment with us. At Duguech&Dip we are here to answer your questions and give you the legal advice you need for your business.
This information does not constitute under any circumstances legal advice, serving only for informational purposes. In case you need professional services in Global Immigration and Mobility, please contact us.
* It should be taken into account that the regulations of any of the countries analyzed, as well as the established procedures, may change at any time and without prior notice.
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