Subsidies and aid for entrepreneurs in Spain
11 November, 2021duguech
If you already have an entrepreneur visa in Spain or you are about to get one and you need help to develop your business, take note of the grants and subsidies for entrepreneurs that you can apply for:
Subsidies for self-employed workers
The flat rate for new self-employed workers is €60 per month. This rate has been in force since 1 January 2019, and you can take advantage of it instead of paying the €286.15 minimum monthly Social Security contribution. Depending on how long you remain self-employed, the amount to be paid varies. For the first 12 months the fee is €60 for newly self-employed people. From 12 to 18 months a 50% reduction is applied; and from 18 to 24 months a 30% reduction is applied during the second half of the year.
Aid for women entrepreneurs
In order to promote employment and self-employment among women, there are various aids available. Among the most outstanding are the microcredits or the special flat rate granted by the Ministry of Equality, which are very attractive because they are available to all women who are willing to start up a business and who have difficulties in obtaining financing. Furthermore, projects classified as viable do not need to present a guarantee.
Another interesting resource aimed at supporting women entrepreneurs is the Women’s Business Support Programme (PAEM). This service offers specialised advice and support to all women entrepreneurs.
Aid for young people
For young entrepreneurs there is the Enisa Participatory Business Creation Loan for Young People, which aims to provide the necessary financial resources to SMEs and start-ups created by young people to cover the investments of the business project in its initial phase.
You can also take the IEBS Business School’s Master’s in Entrepreneurship. This programme is a real investment in the future, as it is designed to support young entrepreneurs who want to learn alongside top professionals in the sector. In addition, the school offers several scholarships aimed at innovative professionals or young people with high creative potential.
The Instituto de Crédito Oficial (Official Credit Institute) provides financing for investment projects for the self-employed or for companies. It also promotes innovative and sustainable projects focused on caring for the environment, as well as a catalogue of mediation lines aimed at different types of projects.
Aid for internationalisation with ICEX
The Institute for Foreign Trade (ICEX) offers grants and aid for entrepreneurs seeking to internationalise their business. Regardless of your sector or activity, the ICEX Localiza programme can help you find a way to set up subsidiaries or branches abroad.
- Business Angels: Business angels are a good option for financing your business. The private investors and funds that you can get for your company will provide you with capital or knowledge that will be very profitable in the long term. You should also bear in mind that the Entrepreneurs’ Law offers significant aid and deductions for new entrepreneurs.
- Neotec Grants: The Neotec Programme finances the start-up of new projects in which the business strategy is based on technological development in Spain. Small companies that are less than six years old at the time the aid is granted are eligible. In addition, the beneficiary’s research and development costs must represent a minimum of 15% of its total operating costs.
- Innvierte Programme: The Innvierte Programme “places the emphasis on favouring the creation of a specialised ecosystem that not only covers the financing of the different phases of the life cycle of companies, but also supports their management needs, knowledge of technology and access to international leaders”.
If you are a foreigner and you have an entrepreneur visa in Spain, but you do not know which of these grants or subsidies is the most suitable for your business, schedule an appointment with us. At Duguech&Dip we provide you with the legal advice you need.
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.
© 2021 Duguech & Dip, S.L.P. – All rights reserved.