Entrepreneur Visa in Spain: Requirements & Application Process

If you are thinking about setting up your business in Spain, this article is for you. Spain offers a welcoming environment for foreign entrepreneurs, with its growing economy, diverse business opportunities, and supportive ecosystem. Now, the country’s government is making it really easy for you to set up your business and obtain residency with the Entrepreneur Visa.

In this article, we’ll look at the key requirements and step-by-step application process for the Entrepreneur Visa, so you can start your entrepreneurial journey in Spain with confidence and clarity.

Understanding the Entrepreneur Visa

What is the Entrepreneur visa in Spain?

The Entrepreneur Visa is a special type of visa that allows foreign entrepreneurs to establish and operate their own business in Spain. It provides a route for individuals who wish to invest in the Spanish economy, create employment opportunities and contribute to the growth of the country. This visa is specifically designed to attract innovative and talented entrepreneurs from around the world, encourage foreign investment and promote entrepreneurial activity in Spain. With an Entrepreneur Visa, individuals can pursue their business ventures in a favourable environment and enjoy the benefits of operating in the Spanish market.

Benefits of the Entrepreneur Visa

The Entrepreneur Visa offers a number of benefits to foreign entrepreneurs wishing to establish their business in Spain. Here are some of the main benefits of obtaining this visa:

  • Residence permit: Upon obtaining the Entrepreneur Visa, entrepreneurs can also obtain a Residence Permit, which allows them to legally reside in Spain and actively manage their business. The initial Entrepreneur’s Residence Card is valid for 3 years (instead of the usual 1 year) and allows you to live and work in Spain.
  • You can apply for this visa directly from Spain while on your tourist visa.
  • When submitting your application, you will have the option of making a joint application and including family members in the same application.

Entrepreneur visa requirements

It’s true that there is no minimum investment and you don’t need to employ any staff to get this visa. However, sometimes your business idea is not enough to get your application approved. There are some requirements that you should keep in mind:

  • Your profile: You need to show that you have the ability to successfully develop your business idea with your level of education, work experience and motivation.
  • Your business idea: Your business idea must be innovative, generate wealth for the country, create jobs and investment opportunities.
  • The Business Plan: You must develop a detailed business plan that includes a description of the idea, market analysis, financial forecast and impact on the Spanish economy.

Required documents for the Entrepreneur​​

According to the Ministerio de Asuntos Exteriores, Unión Europea y Cooperación in Spain, the required documents for the Entrepreneur Visa are the following:

  1. National visa application form. Each applicant, or their representative, must complete and sign a visa application form, filling in each of its sections. 
  2. Photograph. A recent, passport-size, colour photograph, taken against a light background, facing forward, without dark or reflective glasses, or any garments concealing the oval of the face.
  3. Valid, unexpired passport. Original and a photocopy of the page or pages of the passport that contain biometric data. The passport must have a minimum validity period of 1 year and contain two blank pages. Passports issued more than 10 years ago will not be accepted. 
  4. Favourable report on the project. Original and a copy of the favourable report issued by the corresponding Economic and Commercial Office in this consular district or by the Directorate-General for International Trade and Investments.
  5. Financial means. Original and a copy of the documents proving that the entrepreneur has sufficient financial resources of their own, or accrediting that they have a regular source of income, for themselves and, where applicable, for the family members accompanying them. The minimum required amount is equivalent to 100% of Spain’s Public Multiple Effects Income Indicator (IPREM). To this amount must be added 50% of the IPREM for each family member. Foreign documents must be legalized or apostilled and, where applicable, must be submitted together with an official translation into Spanish.
  6.  Criminal record check certificate. Applicants of legal age must submit both the original and a copy of the criminal record check certificate(s) issued by their country or countries of residence for the past 5 years. Foreign documents must be legalized or apostilled and, where applicable, must be submitted together with an official translation into Spanish. 
  7. Health insurance. Original and a copy of the certificate accrediting the public or private health insurance contracted with an insurance entity authorized to operate in Spain. 
  8. Proof of residence in the consular district. The applicant must provide proof of their legal residence in the consular district or that they are attending classes, in person, in the consular district. To verify your consular district, please visit the relevant web section of this Consulate.
  9. Proof of the representative’s identity and capacity. If the visa application is submitted through a representative, a copy of the identity document or passport of the representative and of the power of attorney or document accrediting representation must be submitted. The originals must be shown when submitting the application. Foreign documents must be legalized or apostilled and, where applicable, must be submitted together with an official translation into Spanish. 
  10. Payment of the visa fee. Visa fee payment is compulsory and has to be made at the same time when submitting a visa application. The fee has to be paid in local currency and it is subject to regular changes due to the currency fluctuations. Please check the list of Consular fees.

Procedure: how to Apply for the Entrepreneur Visa

You need to consult the conditions in your Consular Office. In general terms, visa applications must be submitted in person by the applicant, or by one of their parents if the applicant is a minor. They may also be submitted through a duly accredited representative. You can find more information here.

If you have doubts before starting with the procedure, you can contact with our team of lawyer and we will analyse your situation and business idea, and accompany you throughout the process.

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Contact Laver Advisory

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