Entrepreneur Visa Spain
The residence visa in Spain for entrepreneurs, is a type of visa, which is intended for foreigners who are going to develop an entrepreneurial activity of an innovative nature with special economic interest for Spain. In this article, we will cover the the following topics:
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What is the entrepreneur visa?
What is the Spanish entrepreneur visa?
An entrepreneur visa or Start Up visa, is a newly created visa in Spain. This kind of visa allows foreigners to come to Spain and start an emerging business here. Applicants normally have to meet different criteria than those applying for a traditional visa for entrepreneurs. In some countries it even allows the directors of such new companies to live and work in the country, as long as they carry out their own independent activity.
It is a more restrictive type of visa than a common work visa that aims to regulate some aspects, such as social security for foreign citizens and reduce irregular immigration.
In several developed countries, there is a growing interest in attracting highly skilled immigrants who can bring knowledge and create jobs in the local economy. However, with the exception of the United States, entrepreneurs do not receive the same immigration treatment due to the availability of point-based visa systems and/or the absence of ownership restrictions on work visas where the individual sponsors himself with venture capital.
In the case of entrepreneurs, entrepreneurial activity is understood as that which is innovative in nature with a special interest to Spain and can count on a favourable report from the Commercial Office where the investor presents the application for the visa.
entrepreneur VISA requirements
- Not to be found irregularly on Spanish soil;
- Be over 18 years of age;
- Have no criminal record in Spain nor in the countries where you have resided in the last 5 years;
- Not to be included as rejectable in the territorial space of countries with which Spain has signed an agreement to this effect;
- To have a public insurance or a private health insurance;
- Have sufficient economic resources for themselves and their family members during their period of residence in Spain (2,130 euros per month for the interested party and 532 euros for each dependent family member) and;
- Pay the visa fee.
Does the family of the applicant can take advantage of the entrepreneur visa?
It is important to point out that the possibility of processing the residence visa is extended to the spouse and to children under 18 years of age, or adults who are not able to provide for their own needs due to their state of health, when they join or accompany the applicants.Consequently, they may jointly and simultaneously or successively apply for a family residence visa, subject to proof of compliance with the requirements set out above.
Does the applicant need to be present for the application?
The presence of the visa applicant is not required, they may apply for and collect the residence visa through duly accredited representatives.
How much time does it take to process the entrepreneur visa?
Even the ICEX (a division of the Spanish Ministry of Economy and Competitiveness) claims that the process takes about 20 days, our experience tells us that normally the process lasts up to 30 working days.If you need help with the general application for the entrepreneur visa, renewal, or even with the creation of your business plan (so that it matches the interest of the Commercial Office), do not hesitate to ask our lawyers for help. We will be glad to answer any question!