Residence permit for an entrepreneur: residence with the right to work in Spain

It’s no secret that Spain invests heavily in the development and maintenance of small businesses in the areas of innovative technologies by:
– creation and development of business incubators;
– allocation of investment for start-up projects;
– attracting foreign entrepreneurs by issuing a residence permit for the most interesting projects with the right to work for the whole family with privileged conditions.

So, a residence permit for an entrepreneur is another opportunity that allows foreigners to obtain a residence permit with the right to live and work in Spain.

This residence is regulated by Law 14/2013, and is designed to attract modern entrepreneurs to Spain, engaged in projects in the field of innovative technologies and their internationalization.

Foreigners who are not EU citizens and want to start a business in Spain have the right to apply for a visa or residence permit on a business basis with further renewal.

In this case, entrepreneurial activity is understood as an activity that is innovative in nature and is of particular interest to the Spanish economy.

You can apply both at the Consulate in the country of residence, and in Spain, subject to compliance with the legal location.

Like any visa, an entrepreneurial residence permit has a number of requirements for successfully obtaining a resident card:
1. Business must create jobs, at least in the long term.
2. The company must have a significant influence on the Spanish economy in the field of innovation, as well as bring benefits and open up new opportunities for national and foreign investment.
3. The entrepreneur must have personal professional experience and / or proven professional education.
4. An important condition is the availability of funds for the implementation of activities. However, there is no minimum threshold, unlike an investor residence permit, it is considered individually, depending on the project and as a whole, taking into account the possible profit in the future.
5. Provision of a Business Project, which includes a market and product / service analysis, a financing plan and preliminary costs, preferably a development plan for the next few years. He must demonstrate:
– a real opportunity for success in the Spanish market;
– the value of the product / service for the target audience;
– specific sustainable sources of business financing.
!!! If submitted to a Consulate outside of Spain, the Business Plan is reviewed by the Chamber of Commerce of the Spanish Embassy in the country of residence. Then, after its approval, the residence permit is considered by the Consulate of Spain within 10 working days.
!!! In case of filing in Spain – in the Department of Large Enterprises and Strategic Teams (UGE-CE) within 20 days. At the same time, the business plan is assessed by the Ministry of Economy within 1-2 months.

Unfortunately, innovation or a strategic concept for the Spanish economy is rather vague, and the project is evaluated based on the subjective opinion of the official who will consider your business plan. Moreover, in practice, the valuation of the company undergoes changes every year. If until 2018 any project of developing an online application usually fell under innovation, now not every IT project can pass under these requisites.

We recommend not to take risks and contact our specialists in the development of a Business project, since it is part of the business plan that is an important stage in obtaining the coveted residence permit.

What are the advantages of a residence permit for an entrepreneur?
– obtaining a resident card for 2 years;
– the right to work in Spain as an individual entrepreneur or under a contract;
– the opportunity to apply for a residence permit for the whole family. You can bring your spouse, children under 18 and older if they are dependent;
– the speed of obtaining a permit for residence in Spain;
– no obligation to invest large funds in the project (in contrast to the investor’s residence permit).

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