Spain Startup Visa: Step-by-Step Process

Last update: June 7, 2024

Spain’s business environment is increasingly attractive to investors. The government has implemented policies to create a welcoming environment for foreign investment. The country offers low labor and transport costs, and introducing the single market has eliminated exchange rate fluctuations and reduced transaction costs.

The business culture is unique, reflecting wider Spanish society. Spain is known for its relaxed approach compared to other European counterparts. However, it also values saving face, family, proximity, and aversion to risk. This intricate landscape of professional culture presents both opportunities and challenges.

Spain Startup Visa Program

Spain entrepreneur visa is designed for foreign entrepreneurs with innovative business ideas that would significantly benefit Spain. It allows them to enter the country and complete the necessary steps to launch their venture.

Must Read: What is a Startup Visa?

Why Choose Spain

Spain Strong Economy

Spain’s highly developed social market economy is ranked the world’s 15th largest by nominal GDP. Based on services, light and heavy industries, and agriculture, it’s the sixth-largest in Europe. In 2023, Spain posted a growth of 2.5%, driven by robust labor market developments, net exports, and public consumption.

Spain Startup Ecosystem

Spain’s startup ecosystem is rapidly emerging as a leading innovation hub in Europe. A dynamic mix of technology-focused entrepreneurs, supportive government policies, and increasing investment volume characterizes it. Madrid and Barcelona, the country’s primary mature startup hubs, are thriving and well-connected. This vibrant ecosystem is attracting international attention.

Spain Startup Support and Facility

Spain’s startup support and facilities are strong and well-structured. The government has implemented the Startups Law to encourage innovation and disruptive business models. This includes tax breaks for investors, talent incentives, and a digital nomad visa. Additionally, Spain offers a wide network of incubators, accelerators, and many science and technology parks to support startups.

Spain’s Quality of Life

Spain offers a high quality of life, combining a relaxed Mediterranean lifestyle with modern amenities. It outperforms the average in work-life balance, health, social connections, and safety. The climate is mild, with plenty of sunshine and outdoor activities year-round. However, it underperforms the average in jobs, education, and life satisfaction.

Spain Startup Visa Eligibility

Who can apply for Spain’s Startup Visa

• Innovation & Benefit: A unique solution impacting the Spanish economy/society.
• Modern Tech: Integration of cutting-edge technologies.
• Competitive Edge: Standing out from existing competitors.
• Job Creation: Focus on generating new jobs and supporting small businesses.

Spain Startup Visa Requirements & Documents

Entrepreneur

1. National Visa Application Form: Completed and signed by you or your representative.
2. Photograph: Recent passport-sized photo, meeting specific requirements.
3. Valid Passport: The original and a copy of the passport biodata page must be valid for at least 1 year with blank pages and not older than 10 years.
4. Favorable Project Report: Original and copy issued by the Economic and Commercial Office or Directorate-General for International Trade and Investments. This report should assess:
   • Job creation in Spain
   • Your professional profile and experience
   • Your business plan (product/service, market analysis, financing)
   • Added value to the Spanish economy (innovation, investment)
5. Financial Means: Proof of sufficient financial resources to support yourself and any accompanying family members. This meets or exceeds the minimum required amount set by Spain’s Public Multiple Effects Income Indicator (IPREM).
6. Criminal Record Check: Original and copy for the past 5 years from your country(ies) residence. Must be legalized/apostilled and translated to Spanish if applicable, no older than 6 months.
7. Health Insurance: Original and copy of public or private health insurance valid in Spain.
8. Proof of Residence: Documentation proving legal residence in the consular district or attending in-person classes there.
9. Representative Documents (if applicable): A copy of the representative’s ID/passport and power of attorney (the originals are shown on the application), legalized/apostilled with a Spanish translation, if applicable.
10. Visa Fee Payment: Paid in local currency at the time of application (Fee details).

Family Members

Each accompanying family member must submit most of the same documents as the entrepreneur:

• Sections 1, 2, 3, 6, 7, 8, and 10 from the entrepreneur list (plus section 9 if using a representative).
• Proof of family relationship with the entrepreneur (birth/marriage certificates, etc.). Legalized/apostilled with Spanish translation if applicable.
• For adult children, documents proving financial dependence and civil status (legalized/apostilled with a Spanish translation, if applicable) are required.
• For dependent parents, documents proving they are in the entrepreneur’s care (legalized/apostilled with a Spanish translation, if applicable).

Additional Notes:

• The consulate may request extra documents or an interview during the application process.

Spain Step-by-step guide

Are you a resident of the consular district looking to establish a business in Spain? This guide will walk you through the application process for a Spanish Entrepreneur Visa.

Step 1: Check Eligibility

This visa is for individuals residing in the consular district. You can also apply as a minor through a parent or legal representative or appoint a representative to handle the process.

Step 2: Gather Required Documents

Refer to the previous list for complete details on entrepreneur and family member documents. Remember to have them legalized/apostilled and translated if necessary.

Step 3: Submit Your Application

The application must be submitted in person at the BLS Spain Visa Application Centre.

Step 4: Track Your Application

You’ll receive a receipt with a code to track your application status online upon submission.

Step 5: Respond to Requests (if applicable)

The consulate may request missing documents, additional information, or a personal interview. Respond promptly to avoid delays.

Step 6: Decision and Collection

The consulate aims to decide within 10 days (after submission), but this may extend if an interview or documents are needed. Once approved, you have one month to collect your visa in person (or through your representative).

Step 7: Appeal a Rejection (if applicable)

If your visa is refused, you have one month to appeal the decision to the consulate. You can also file a legal review with the High Court of Justice of Madrid within two months of receiving the refusal notice.

Step 8: Utilize Your Visa

The visa is valid for one year and allows you residency in Spain. While a Foreigner Identity Card is not mandatory, you can apply for one at the designated office.

Cost & Fees

Government Visa Application Cost

• Standard Visa Fee: $88 USD
• US Citizen Fee: $270 USD

Corporate TAX rate

• The general CIT rate in Spain is 25%.

Note: Other tax rates may apply, depending on the type of company and its type of business. Resident companies are taxed on their worldwide income.

Cost of Living in Spain

• A family of four estimated monthly costs are 2,664.6$ (2,477.6€) without rent.
• A single person’s estimated monthly costs are 756.3$ (703.3€) without rent.

Might Be Interested: Portugal Startup Visa: The Ultimate Guide

Processing Time & Outcome

Visa Processing Time

Minimum 1-2 months

What happens After Apply

The consulate delivers a decision within 10 days of receiving your application. However, this timeframe may be extended if an interview or additional documents are required. Once approved, you’ll have 1 month to collect your visa in person or through a designated representative.

Be prepared for the possibility of a visa rejection, which will be explained in writing. If you disagree with the decision, you have 1 month to file an appeal.

Spain Residency through Startup Visa

The Spanish Entrepreneur Visa is initially a one-year visa. However, you can apply to convert it into a 3-year residence permit upon arrival in Spain.

Spain Citizenship

A general pathway to Spanish citizenship through the Entrepreneur Visa:

1. Obtain the Spanish Entrepreneur Visa, which is initially valid for one year.
2. Upon arrival in Spain, apply to convert this visa into a three-year residence permit.
3. During your stay, start and operate your business.
4. After living in Spain for 10 years, you can apply for citizenship.
5. The citizenship process can take an additional 2 to 4 years.

Please note that this is a general pathway, and the exact requirements may vary.

Role of Launchroad in The Seccess of Your Startup Visa

LaunchRoad is your go-to guide for starting a business abroad. We help you choose the right country, understand visa requirements, and get your startup off the ground. Our team of experts provides support, mentorship, and resources to help you succeed.

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