- What is The Spain Entrepreneur Visa?
- Business Plan Requirements
- Required Documents to Apply for the Entrepreneur Visa
- Your Professional Profile
- Tips for Your Business Plan Strategy
- Extra Documents to Increase Your Chances of Entrepreneur Visa approval?
- Application Procedure for The Entrepreneur Visa
- How to renew your entrepreneur visa?
- What if My Entrepreneur Visa Application Gets Rejected?
- How Can Immigration Advice Service Help?
- Frequently Asked Questions
What is The Spain Entrepreneur Visa?
Entrepreneur visas are residency permits issued by the Spanish government to foreign nationals who want to establish or expand a commercial enterprise in Spain but are not citizens of the European Union.
If you create a business in Spain that serves the public interest and contributes to the country’s economy, you may be eligible for a three-year residence permit known as an entrepreneur visa.
This residence visa has strict regulations. Therefore, in order to avoid spending time and money on a visa application that will ultimately be rejected, you want to be certain that you meet the standards that are listed below.
Because of this, we strongly suggest that you get in touch with our legal team on (+44) 333 4149244 before beginning the process of applying for the entrepreneur visa in Spain. When you do so, make sure to thoroughly describe both your current circumstance and the business plan you have in mind so that our experienced lawyers can determine whether or not the plan will be approved.
Business Plan Requirements
According to Law 14/2013, which is the law that regulates all visas falling under the Entrepreneurs law, for this particular residency, the business idea plays a crucial role when applying for the entrepreneur visa.
This is because the law states that the law regulates all visas falling under the Entrepreneurs law. Your idea for a business, that is, the item or service that you want to sell in Spain, has to carefully adhere to the aforementioned three primary conditions.
- Initially, and most importantly, it must be an original business concept.
- Then, you must guarantee that your firm generates revenue in Spain and grows in the nation, which will eventually need the employment of more staff.
- Lastly, it is crucial that the organisation provide investment opportunities in the country.
Required Documents to Apply for the Entrepreneur Visa
The specific documents needed to apply for the Entrepreneur Visa:
- Application form for a national visa. Each applicant or agent is required to fill out a visa application form and sign each section before submitting it.
- Valid, unexpired passport. Both the original and a photocopy of the passport page or pages that include the biometric data must be submitted. A minimum validity length of one year is required for the passport, and it must have at least two blank pages. If your passport is older than 10 years, it will not be accepted.
- A current colour photograph that is passport-sized and should be shot against a bright backdrop with the subject looking forward. The photograph should not include any dark or reflecting spectacles, nor should it have any clothing that covers the oval of the face.
- Documentation confirming that the required charge has been paid.
- Proof that you fulfil all of the requirements, such as having adequate financial resources, social security, health insurance, and so on.
- Prepare a business strategy. You will be required to present your business strategy, in which you will comprehensively describe your endeavour and explain how it will contribute to the economic climate in Spain. Your business contribution to the development of jobs, innovation, and a good influence on the socio-economic prosperity of the nation.
- A document from the Commercial Office that confirms your business concept is accepted. The acceptance is based on originality, the creation of jobs, and added value for the Spanish community. If the Commercial Office approves the business plan, your idea will be deemed economically important to Spain. Then, you will have the approval to submit the permission paperwork to the appropriate Immigration Office in order to receive an entrepreneur visa.
Your Professional Profile
The first thing the relevant authorities will look at is your professional profile.
Your capacity to execute and implement your company concept in the actual world is just as vital as your business idea. Therefore, as a foreigner seeking an entrepreneur visa in Spain, you must show that you have the necessary skills and credentials to develop your company concept effectively. That is why you must show your current level of education and professional experience.
On the other side, you will need to describe why you want to start the firm and how you came up with the business concept. That is why you want to explain, primarily through your CV, who you are, where you studied, what your profession is, and how your expertise not only relates to your project but how it can help the Spanish economy in its effective implementation.
The more experience, expertise, and abilities you can show, the more likely it is that you will be approved.
Tips for Your Business Plan Strategy
Your residence application depends on your business plan since it is what will determine whether or not your entrepreneur visa application to Spain is approved.
And the business plan is where that concept takes form and is explained in detail. Your company’s business plan should, as a whole, comprise an examination of the market, the product or service, and your business profitability.
You need to create a market analysis that includes an overview of your business, an examination of your target market, a study of your competitors, and your own forecasts for your business.
Having patents, reference letters, or clients will boost the likelihood of your application being approved. It will also be extremely crucial to have a financial forecast as well as a report on expected finance.
You will need to make a strategy for all of the specifics that will enable you to keep operations going on a day-to-day basis, as well as the amount of revenue that you anticipate being generated. Our professional team is ready to help your business plan strategy. Call us on (+44) 333 4149244.
Extra Documents to Increase Your Chances of Entrepreneur Visa approval?
There are a few things you may add to your application that will undoubtedly help you acquire your entrepreneur visa. In that sense, you may give any kind of evidence that validates your business concept or firm.
It can be letters from investors or business angels who want to invest, letters from consumers who have purchased the product (or a prototype) and validated it, or letters from prospective customers who are eager to buy.
Any evidence that serves as support and proves that the concept is sound and has the potential to succeed is highly encouraged.
From Outside Spain
To begin, you may start the procedure from your home country by submitting all of the necessary documents online via the electronic headquarters of Unidad de Grandes Empresas (UGE). There, you will be granted a visa that will allow you to travel to and enter Spain during your visit.
The documents required to apply for permission vary as well. In this situation, you may fill out and submit the application form here. Through this electronic office, you can request an initial authorisation, attach documents to a pending authorisation, correct the request by submitting additional documentation, submit the renewal of your authorisation, check the processing progress of your file, and access the practised notifications.
After you have created your business plan, you are required to submit it in order for them to evaluate it and determine whether or not the idea is eligible to apply for the entrepreneur visa. If you are currently residing in your home country at the time of application, you must submit it to the General Directorate of Foreign Trade and Investment.
The submission of applications and documents, as well as the review of notifications in the Ministry of Employment and Social Security’s electronic headquarters, must be done using a digital certificate. After 10 days, you will be notified if your business plan has been approved or denied. Then, you can travel to Spain to receive your residence card.
On the other hand, you also have the option of obtaining this authorisation directly from Spain in conjunction with your visitor’s visa. This makes the procedure simpler and easier to complete.
On the other hand, there is the scenario in which you lawfully reside in Spain at the time you apply for permission. The primary distinction is that you do not need to apply for a visa and may instead receive a resident card.
If you are currently in Spain and possess a valid tourist visa, you can directly go to the UGE’s headquarters in Madrid. The relevant documents must be delivered to the Large Business Units in this instance. In order to submit the business plan, you must go to the Ministry of Economic Affairs.
In any event, after you have submitted all of the required evidence, the administration will have a period of twenty days to review your entrepreneur visa and decide how to proceed with your application.
Within a maximum period of one month, the entrepreneur visa must be collected in person by the applicant or by their agent. This duration of time begins counting the day following the date on which the favourable decision is announced. The applicant will be informed by the Consular Office of the process for the return of the passport as well as any other original paperwork that may be required.
When you get a positive decision handed down to you, you will be required to schedule an appointment with the immigration office in order to have your fingerprints registered.
How to renew your entrepreneur visa?
This permission to remain in the country is valid for a period of three years, unlike the normal 1 year Spain residence permit. If you want to keep residing in Spain after this length of time has passed, you will need to renew the residence card that you have been issued.
If you want to renew your visa for setting up a company, you will need to continue meeting all of the standards you completed when you first applied for the visa.
In essence, it denotes that the project you are working on still contributes positively to the economy of Spain and encourages the formation of new job opportunities. If your company goes well, you should have no trouble getting your entrepreneur visa extended.
Because you have renewed your visa, you will be allowed to remain in the nation lawfully for an extra two years.
What if My Entrepreneur Visa Application Gets Rejected?
It is not uncommon for many applications for entrepreneur visas to be denied due to the grounds that were outlined at the beginning of this article.
To begin, you have the option of submitting an immigration appeal if you believe that your entrepreneur visa application was improperly denied despite the fact that you fulfil all of the conditions for receiving the visa. Remember that filing an appeal often takes a few months, which will significantly extend the process if you choose to do so.
On the other hand, there are circumstances in which it is far more prudent to reapply (that is, to start again from scratch) in order to take advantage of the 20-day resolution period. If you believe that there is a strong possibility that your application will be accepted, you should pursue this course of action.
In conclusion, the most frequent scenario generally calls for the investigation of other possibilities. You always have the option to submit an application for a work visa that allows you to engage in self-employment in the event that your first request is denied, for instance, on the grounds that the company concept you proposed is not original enough. It is feasible to launch enterprises in this region that are based on models that are already in operation in Spain, and you may even expand your practise while maintaining your independence
In order to avoid this, the greatest advice we can provide about the entrepreneur visa is to always consult with an experienced lawyer. Our professional Immigration Advice Service team is ready to help; call us on (+44) 333 4149244. It is critical to comprehend your position, determine if it is consistent with immigration rules, and then continue with your application. Applying for your entrepreneur visa should be easy with our assistance.
How Can Immigration Advice Service Help?
Spain’s economy has been gradually rising in recent years. This means opportunities for entrepreneurs. And if you’re trying to develop your company in Spain, you’ll find plenty of opportunities here. Around 100 free trade agreements have been signed by the government with countries all over the globe. These agreements facilitate the export of products and services to Spain’s commercial partners.
However, applying for an entrepreneur visa in Spain seems to be a complicated task to do. Your business plan must meet the requirements, your personal profile must be arranged professionally, and the regulations to get a residence permit using the entrepreneur visa are strict.
It must be rather simple to start a business and make a life in Spain. And this is the sensation that we want you to have. We can help you to apply for an entrepreneur visa in Spain with ease.
Immigration Advice Service is ready to help. We are professional, experienced, and sympathetic immigration advisers with a long history of working with people to help them obtain entrepreneur visas in Spain.
If you want to apply for an entrepreneur visa, we can work with you to help prepare for it and ensure that you have the best chance of being granted your visa possible. We can help you prepare your business plan documents, assemble your supporting documents, and assist with formatting and drafting your professional profile to help with your case.
We can also brief you on the most common pitfalls that people fall into, as well as things to look out for in the business requirements so you can go into it feeling confident, well-prepared, and reassured.
For more information about the services we offer and how we can help you with your business plan, personal profile, or the Spain entrepreneur visa application process, reach out to us on (+44) 333 4149244, or contact us online today.
Last modified on July 17th, 2023 at 12:30 pm
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You can apply via the online application form here or visit the UGE’s headquarters in Madrid, if you’re already in Spain.
There are several documents that you need to submit along with the online application:
- Valid passport
- Health insurance documents
- Background checks
- Financial resources
- Report on entrepreneurial activity issued by the Spanish Economic and Commercial Office
- Business plan
The visa is valid for 1 year. The residence permit is for 2 years with additional 2 years for renewal residence permit.