There are many ways to move to Spain and quickly obtain a temporary residence permit. However, not all immigration programs available today offer the opportunity to legally work in the country. There is already a myth among foreigners that there is little work in Spain, then what to do here without the right to employment.
If you want to know how not only to get a residence permit in Spain in a short period of time, but also to get the right to work and conduct business activities, read on. We will tell you about a fairly new program called «StartUp visa», which can be used by foreigners from different countries.
What to know about StartUp visa in Spain?
Spain is one of the few countries in Europe that offers permission to live legally on its territory in exchange for certain benefits for its people, economy and country as a whole. The StartUp visa has started working relatively recently, but many foreigners have already managed to use it. It gives the opportunity to live in Spain legally, work, conduct business activities and enjoy almost all the benefits that the native residents of the country. In the near future, StartUp visa holders will be able to apply for permanent residence, and then they will be able to obtain European citizenship.
Who can be an entrepreneur?
We have come to the most important question of this topic - who can apply for the program. You can safely apply for this visa if you have a good, innovative project that includes:
An important point is that no laws or acts say anything about the minimum amount of investment in such a startup. Therefore, it can be any business, which may not even require investment for its implementation into life. You can join your project not only yourself as a founder, but up to 5 more people.
In order to apply for residency in Spain as an entrepreneur, you must fulfill the requirements and conditions that are prescribed by law. This law regulates the rules and conditions not only for this visa, but also for the digital nomad visa. In December 2022, the conditions and requirements for a foreigner to obtain a StartUp visa have changed. Here's what the changes look like:
The period of legal stay for foreign entrepreneurs is now 3 years (previously the document was issued for two years);
You as an entrepreneur can bring your family (legal spouse, children and parents).
Where to apply documents from?
Firstly, you need to understand that a StartUp visa can be requested either from your country of current residence or origin, or directly within Spain. If you want to apply for the program in Spain, you can fly here on one of the available visas. This can be a visa-free program, a Schengen visa, or even another residency program.
Step-by-step guide to obtaining a StartUp visa
→ Make a business plan. This is the most important point, which will determine whether you will be approved or rejected for residency. Therefore, you should pay due attention to the creation of a business plan. Remember that your idea and the project as a whole must be innovative and interesting for Spain.
→ Go to Spain. This type of visa can also be applied for from another country, but we recommend that you apply for it while already in Spain. To do so, you must enter Spain under any legal basis.
→ Submit an application. If your business plan has been approved by the National Innovation Company, you can proceed to request a Spanish residence permit. The application is submitted online on the UGE-CE website.
→ Get a plastic card. If everything went well, you will receive a notification that your application has been approved. After a month, you will receive a notification that your plastic card is ready and can be picked up.
What should you know about taxes?
The latest change in the law is that the grace period for paying taxes has changed. There has been a change for the better, as previously the grace period was two years and today it is 4 years. The favorable conditions imply the payment of income tax in the form of 15% for entrepreneurs in Spain.
What problems may arise in obtaining a StartUp visa?
The most common reason for rejection is not in the documents, but in the business plan. It also sometimes happens that the applicant was not able to confirm his income level in time. In any case, it is possible to appeal and win the case. Migration experts from the aksis agency can help you with this, as they know how to make the whole process of obtaining a StartUp visa faster and easier.
