Residency permit for entrepreneurs
The law allows residents of Spain interested in implementing an entrepreneurial project to request a residence permit. The law does not set a minimum threshold for investments, which is an undeniable advantage for those with a developed business plan.
Recently, the most relevant trend among IT specialists and entrepreneurs has been relocating to Spain through the startup visa. Indeed, obtaining full residency for 3 years is possible by launching your own project. The primary requirement to participate in the program is to have a business plan. Its objective is to prove that the startup is beneficial for the Spanish economy, represents an excellent investment opportunity, has an innovative character, and facilitates job creation. The entrepreneur's professional experience and involvement in the project are also crucial. It is advisable to begin with market analysis and describing your product/service, exploring opportunities for project scalability, and devising a solid financial plan. In essence, potential candidates must demonstrate in the business plan that there is potential for implementing the new project, and the product/service will be widely sought after among the target audience, as well as outline the availability of specific funding sources.
The entrepreneur and their family members are initially granted permission for three years, extendable for an additional two years. Furthermore, this residency type contributes towards the period necessary for obtaining Spanish citizenship.
- Frequently Asked Questions:
- How long does the decision-making process take?The official processing time is - 30 days from the receipt of the notification of the application acceptance. On average, receiving the final decision takes - 2 months.01
- Which family members can accompany the entrepreneur?Legally married or civil union spouses, minors, or economically dependent adult children, as well as relatives in the direct ascending line who are financially dependent on the main applicant.02
- Are multiple partners allowed to join in project establishment?Absolutely, when there are multiple co-founders, the contribution of each will be evaluated, regardless of whether they are applying for a visa or not. Professional experience and education are always taken into consideration.03
- Which type of residency is granted to family members of entrepreneurs?Entrepreneur and family members' residence permit granting work and residency rights throughout Spain.04
Anytime you need legal assistance, you can contact me. This will assist in avoiding mistakes in document collection and the application process.