Why Startup In Spain?

Welcome To Spain - The Land Of Rabbits

Spain offers anything an expat would ever need:

Good weather conditions the whole year

A varied landscape, which offers leisure opportunities for those who enjoy the sea and for those who are more kin to the countryside and mountains

Open-minded and empathetic nationals, which is essential to establish yourself in a new country

Huge expats communities and many other foreigners who will be in your same situation (many events take place every single week in which you can meet likeminded people)

Cities like Madrid or Barcelona are important startup hubs that attract talent and new companies

What is the entrepreneur visa in Spain?

The entrepreneur visa or startup visa is a residence permit that allows you to live in Spain during a two-year period provided that you start a project in the country that goes in line with the general interest of the Spanish economy.

Starting any type of business idea won’t work. In order to be accepted, your project must fulfill the following conditions:

It has to create employment for the country, at least in the long-run. This means that your project must create new job positions and be a positive stimulus for the general Spanish economy.

It must create good investment opportunities.

Its operating process must involve a high level of technology (for example, use algorithms or machine learning) and enhance the socio-economic development of Spain

Finally, having patents, recommendation letters or some clients will increase your chances of getting your application accepted.

Process To Get Startup Visa In Spain :

There are three main requirements you must meet in order to get your application accepted

Your profile as a professional :

The first thing the corresponding authority will check is your professional profile to ensure your ability to execute and implement your business idea into the real world. The more experience, knowledge, and skills you can demonstrate you possess, the higher the likelihood of getting an approval. So having a degree or a masters related to the core activities that will help your startup grow is crucial.

Startup visa business plan :

The business plan is important document you will need to send to the Commercial Office to evaluate and finally decide if you deserve the residency or not, based on how well you state the innovative component of your business idea. Your business plan must include a market, product/service, and financial analysis including the specific sources of financing you will receive to have your business operating effectively.

At Balcells Group we make sure that your entrepreneur visa gets accepted by working hand in hand with you with the business plan.

The projects added value to the Spanish economy :

You need to demonstrate that your startup creates value for the Spanish economy, it will be a great opportunity for both national and foreign investment, and is highly innovative. The company you set up to get the residency can’t be a restaurant or language school. It has to be something new, something that does not already exist in the country, and that it could certainly benefit Spain once created.

Rest of general requirements :

In order to successfully obtain an entrepreneur visa in Spain, focusing on the project is not enough. You will also need to meet the following general requirements:

You must be from a non-European Union country.

The entrepreneur must be over 18 years old (legal age in Spain).

Clear criminal records background. That must hold both for Spain and for any other country during the 5 years prior to the application.

At the moment of the application, you can’t be in an irregular situation in Spain.

The professional starting the company must have health insurance (public or private) with full coverage on the Spanish territory.

Having sufficient means for her/his and family (if they apply jointly) is also needed.

Next Steps

If you are in a position in which all the prior conditions are met, you can start your application. Documents you need to submit to get your residency as an entrepreneur are :

Application form.

Complete passport.

Proof of the payment of the corresponding fee.

Proof that you meet all the necessary requirements: that you have sufficient economic means, social security, etc.

Business plan.

Favorable report.

Why Balcells Group?

With over 40 years of experience, Balcells Group has dealt with thousands of foreigners and we can completely understand each of them. But not only do we have experience helping them obtain their residency, what sets us apart from other immigration law firms is our range of services. We want our clients to just use one lawyer: us. That is why we also offer assistance when it comes to taxes, business, and real estate. Hence, all your legal needs are covered with us.

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