You have a Business idea but can not implement it. You are looking for a foreign country to welcome you. Spain is your option. The government welcomes people who can influence the economy. But what about the red tape and visa? A Spain Entrepreneur Visa is as easy as pie. You will have nothing to worry about.
This article will explain who is eligible for Entrepreneur Visa, requirements, the application process, Business plan, FAQs, and more.
What is a Spain Entrepreneur Visa?
A Spain Entrepreneur Visa is a platform to attract people with innovative business ideas to the country. The authorities welcome non-EU nationals who have a genuine plan. They introduced the Entrepreneur Visa to take advantage of the genius who is looking for a better life.
Who is eligible for a Spain Entrepreneur Visa?
The government has set some eligibility principles for Spain Entrepreneur Visa. Not everyone is qualified to apply for it. The officials are severe with the principles and check everything. Ensure everything before you begin the procedure.
The first principle is not to be a national of the EU. The residents of the EU countries have to follow a different route to move to Spain.
If you have dual citizenship, use your non-EU passport for an Entrepreneur Visa.
you must have reached the legal consent age. You may not be younger than 18. If you are, apply along with your parents.
The Spanish national law requires you to provide a clean record certificate for an Entrepreneur visa. It must provide your background for the latest five years to the date of application.
Providing that you have lived in a foreign country for the long term, you need to provide a certificate from that county too.
A Spain entrepreneur visa requires health insurance. A private or public one doesn’t matter. It has to cover all medical expenses, including repatriation. Apart from Spain, it must be valid in the entire EU countries as well.
Proof to have enough funds
You need to hold enough funds to cover your expenses in Spain. You could provide it in different ways, depending on your situation. A bank statement could prove your financial independence easily.
The required amount to live in Spain might be different for you. You could ask the Spanish embassy about it.
Legal stay in Spain
In case you are in Spain at the time of application, your stay must be legal. You must have done any criminal activity or get caught by the police.
Have a Business plan
The business plan is a toot part of your application. The fate of your application rides on it. You must have an innovative business plan. See the section below to know more details about a business plan.
Not being rejectable
You may not be rejectable to enter the EU or the Schengen Area. Spain has signed mutual agreements with these two unions. You must be able to enter them without any problem. If they reject you due to any reason, you will become ineligible for an entrepreneur visa.
What are the requirements for a Spain Entrepreneur Visa?
The requirements for a Spain entrepreneur visa are some supporting documents. They prove you are eligible for the visa. The officials ensure you have been honest with the provided information.
Remember, there is no definite list of requirements for an entrepreneur visa. The Spanish authorities in your home country might require further documents. However, a standard list is as follows:
You get the application form from the Spain’s embassy website. Complete it with the correct and honest information.
Your original passport may not be older than ten years. It must hold validity for at least 15 months at the time of application. Its validity must be over the date your visa will expire. Having one or two blank pages is mandatory to stick to the visa.
You need two passport-sized photos, not to be older than three months. They need to be:
- In the clear white background
- Your face must cover 70% of the photo.
Proof to have somewhere to live
Make it clear where you will live during your stay in Spain. A rental agreement or proof of ownership is fine.
Proof to have enough funds
The evidence that you have enough money to support yourself is mandatory. The amount depends on whether you are alone or your family accompanies you.
The insurance you purchase must be valid in Spain and the entire EU. It must cover every medical expense for 30.000 EUR.
A medical certificate from a doctor that you have no serious medical issue that’s a threat to the public is mandatory. It may not be older than the latest three months to the date of the application.
Clean record certificate
A clean record certificate from the police is mandatory. It must cover your background for the last five years.
Business plan confirmation
You need to send your business plan to the authorities to approve it. When they do so, provide the certificate to the officials. It gets called a Favorable report.
Spain Entrepreneur Visa application process
You may apply for a Spain entrepreneur visa from inside and outside of Spain. The process will become a bit different. But looking at the whole process is a good idea. You get a general mindset of what you have to do.
Do you know what Mike Wallace once said? “All I’m armed with is research.” This armed you with the information you need. Before you begin the applications, see if you are eligible or not.
As the text covered, not everyone is eligible for a Spain entrepreneur visa. Can you come up with the preconditions? If not, you are wasting your precious time and effort.
2. Business plan confirmation
As the text explained, having an innovative business plan is a must for an entrepreneur visa. The Spanish officials must approve your business plan.
The process is a bit different whether you are inside or outside of Spain
You are inside Spain
Providing that you are in Spain at the time of application, send your plan to the UGE-CE. It is the Large Business and Strategic Sector Units. They have the responsibility to approve your business plan. The unit will also assess the plan by its standards and inform you whether it is accepted or not.
When your business plan gets approved, you don’t need to apply for the visa as you are in the country. You just need to apply for a Residence Permit (TIE). You need to visit the Police station or the local immigration to receive a TIE.
You are outside of Spain
If you are in your home country, submit your plan to the Economic & Commercial Office of the Spanish Embassy. They will evaluate and inform you if it gets approved.
When they approve your plan, continue the below procedures.
3. Application form
Download the application form from the Spanish embassy’s website. Be careful not to get the short stay application form. You need a long-stay form.
Complete the form with your information. Be aware of putting the right information. They must match with your documents. In the end, print, date, and sign it.
Look at the section above. You can see the list of requirements for a Spain entrepreneur visa. You need to submit all of them to the officials. Bear in mind that the Spanish embassy might require further documents. It would be better to ask them about the full list of required documents.
You don’t have to start this procedure like the mentioned order. It might take you a long time to gather every piece. So you can start it a bit early.
5. Visa appointment
When you collected all or most parts of the requirements, schedule a meeting with the Spain embassy. You need to have enough time to prepare yourself for the meeting. For instance, you need to gather every piece of requirements by then.
Visit the embassy on the scheduled date. Bring all the collected requirements. “You cannot respect the officials but disrespect their time.” So get there a bit early. You might take some time to pass through the security.
You know that your energy is contagious, don’t you? So be the best of yourself. Wear something a bit formal. You are really attractive and good looking.
Submit everything to the officials when you meet them. Then you have to pay a fee for visa processing. Bring enough money with yourself. Remember that the fee might be different in each country. The officials might also charge you more for further services.
You must prepare a cheat sheet in your mind for the last part-interview. The authorities will ask why you seek to move to Spain. Part of the questions will be about your business plan, how to implement it, future plans, etc. Being prepared for it would be a good idea. Learning a little Spanish would also help. It will have a good impression on the interviewer.
After finishing the interview with the embassy, the time for patience comes through the door. Wait until the Span embassy processes your visa. Different elements will influence the processing time. In case the officials require further documents, the timing will be longer.
When the embassy issues the visa, they will inform you. The embassy will post it to you, or you have to pick it up yourself.
8. Getting to Spain
When you enter Spain, you have to apply for a TIE. You need to do it in the first 30 days of arrival. You need to visit the local immigration office or the Police station to apply for TIE.
The officials give you the list of requirements and the application form. Then, you gather the list and collect the supporting documents. Now you need to schedule a meeting with them. You submit the requirements to the officials, pay the fee, and wait until the officials prepare your TIE.
Business plan for Spain entrepreneur visa
Your business plan is the core foundation of a Spain entrepreneur visa. It determines whether you will receive the visa or not. It must fulfill a few requirements to be eligible.
- Creating jobs for the Spanish. If not for the short-term, for the long-term at least.
- Provide investment opportunities.
- Bring modern technology to Spain. The following fields could do so:
- Green energy
- The atmosphere
- Water and water treatment
- Health sciences
- Boost Spain’s socio-economic level.
What does the Business plan must involve?
The business plan you provide must include some information. Here is a sample list of the:
- The role you will have in your business.
- Date of publicity
- Making it clear the product of the business. It must clarify what makes the business unique and creative.
- The outline of your project, including:
- The anticipated beginning date.
- The place to implement it.
- The legal structure of your plan
- The effect on the environment
- The approximate number of jobs it will create.
- The influence on the market
* Don’t underestimate your CV. It will demonstrate that you have the potential to implement your business plan. You show more knowledge, skill, and experience; your chance will be higher to get the visa.
- The detailed balance sheet
- Available resources for three years
- Profit and loss evaluations
- Market share
- Growth probability and possible competitors
If you prove that the market demands your product or service, you have a better chance with your business plan.
The first and foremost requirement of the business plan is innovation. Your plan mustn’t have existed before. It needs to break up with the technology or have never been started before. If your plan is a copy of another current business, the officials won’t accept it.
How long is the Spain Entrepreneur Visa valid for?
The initial validity of the Spain Entrepreneur Visa is one year. It is a determining time for your residence in Spain as you can implement your business plan. If it is developing and enhancing Spain’s economy, you may extend your visa.
Are there financial requirements for a Spain Entrepreneur Visa?
You don’t need to have worries over financial requirements. Spain Entrepreneur Visa does not hold any financial requirements. Put your effort into your business plan. Your innovative plan is the key that unlocks the door of Entrepreneur Visa.
However, having enough money to support yourself is one of the eligibility principles. If your family accompanies you, you need to have enough for them too.
Can you extend a Spain entrepreneur visa?
Yes. You may extend a Spain entrepreneur visa for two years. Yet, you need to fulfill the basic requirements of the application. Your business plan must be developing and making progress for the Spanish economy. Your plan must create jobs for the Spanish community. In case the business promises a bright future, its extension will be faster.
Can you bring your family under a Spain Entrepreneur Visa?
A Spain Entrepreneur Visa is one of the most favorite visas in Europe. Its preconditions are easy. You won’t go through much trouble. It permits you to bring your family to Spain easily. You may bring your:
- Spouse or law-partner
Can I visit other Schengen Area countries with a Spain Entrepreneur Visa?
Yes. When you have a visa from the Schengen Area members, you may visit other countries as well. A Spain Entrepreneur Visa is no exception. It allows you to visit the EU and Schengen members.
Let’s sum up…
If you have an innovative idea and are looking for a country to implement it, Spain is your ultimate option. You can move to the country through a Spain entrepreneur visa and implement your plan. The tremendous news is that you won’t go through much trouble. The entrepreneur visa also leads to Permanent Residency.
This article brought you who is eligible for an entrepreneur visa, requirements, the application process, business plan, FAQs, and more.
If you seek to know about other types of Spain visas, go through the left sidebar.
If you have knowledge or experience, let other candidates light their way with it.