Visa for entrepreneurs.

How to apply for residency in Spain if you are an entrepreneur?

At mentorDay we help foreign entrepreneurs who wish to set up a company in Spain to enter Europe, America or Africa and need to obtain their residency as a foreign investor, free of charge, to obtain the Spanish golden entrepreneur visa.

Every month we organise in Tenerife a typical week softlanding where foreign entrepreneurs can sit down with 70 experts to help them overcome all the obstacles to growing their business, including obtaining a Spanish entrepreneurial visa.

Taking the Entrepreneurs Law 14/2013 as a reference framework, Spain created the "visa for entrepreneurs" with the aim of establishing a new International Mobility Plan that regulates the entry and stay in Spain of foreigners from outside the EU or those who are not subject to EU law.

The Spanish entrepreneur visa, Spain's golden residence visa for foreign investors, is designed for investors, entrepreneurs, highly qualified professionals, researchers or professionals making intra-corporate movements as well as their spouses and children under the age of 18.

Requirements necessary to apply for the entrepreneur visa, in order to obtain residence for foreign investors:

There are certain requirements that must be fulfilled in order to obtain any type of authorisation, stay, permit or visa, including the golden visa:

• Not to be found irregularly on Spanish soil.
• Be over 18 years of age.
• No criminal record in Spain and in the countries where you have resided in the last 5 years.
• Not to be listed as rejectable in the territorial space of countries with which Spain has signed an agreement to this effect.
• Have public or private health insurance with an insurance company authorised to operate in Spain.
• To have sufficient financial resources for himself and for the members of his family during his period of residence in Spain (2,130 euros per month for the person concerned and 532 euros per month for each dependent family member).
• Pay the fees for the processing of the authorisation or visa, which range from 70 euros to 80 euros.

Highlight the possibility to apply for a residence visa. extends to the spouse and children under 18 years of age, or adults who are unable to provide for their own needs because of their state of healthwhen meeting or accompanying applicants.

Accordingly, they may apply, jointly and simultaneously or successively, for a family residence visa, upon accreditation of compliance with the aforementioned requirements.

The presence of the visa applicant is not required.may apply for and collect the residence visa through duly accredited representatives.

Entrepreneurial activity" is defined as "entrepreneurial activity":

A business project to be developed in Spain and which is considered and accredited as being of general interest, for which compliance with at least one of the following conditions will be assessed:

1. Job creation.
2. Realisation of an investment with a significant socio-economic impact in the geographical area in which the activity is to be carried out.
3. Relevant contribution to scientific and/or technological innovation.

The assessment will be based on criteria such as the profile of the applicant, the business plan presented or the investment opportunities offered, during the acceleration week we help you to complete all this information!!!!

There are two types of permits and they correspond to different stages of entrepreneurial activity. Residence for foreign investors.

• Entry and stay for business start-up:

A visa may be requested to enter and stay in Spain for a period of one year for the sole or main purpose of carrying out preliminary procedures for the development of the entrepreneurial activity.

• Residence for entrepreneurs:

It is aimed at foreigners who are either applying to enter Spain or who have a residence, stay or visa authorisation and intend to start an economic activity as an entrepreneur.

They shall be provided with a residence permit for the business activity and it shall be valid for the entire national territory.

There is another type of visa for highly qualified professionals:

It is aimed at companies that start an employment relationship in Spanish territory with foreign professionals, generally for managerial positions, and is granted by the Directorate General for Migration.

This visa is also valid for the entire national territory as long as they meet any of these characteristics:

• Small and medium-sized enterprises established in Spain: belonging to a sector considered strategic.
• Business projects accredited as being of general interestThe following conditions must be met: a significant increase in direct jobs and maintenance of employment as well as an increase in investment with a significant socio-economic impact on the geographical area where the activity is to be carried out.
• Large companiesThe average number of employees during the three months immediately preceding the submission of the application must be more than 250 employees and a turnover of more than EUR 50 million.

Procedure for obtaining a residence visa in Spain for entrepreneurs:

The mass migration has put on the table the difficulty of entering Spanish territory through asylum. However, there is a migration channel that offers a much quicker response to applicants wishing to set up a business in Europe, since the Spanish Government undertakes to give its approval or rejection within a maximum of 10 days. This migration solution is the visas under the Entrepreneurs Law.

The Ministry of Foreign Affairs, European Union and Cooperation specifies that the Law is designed for the investors, entrepreneurshighly qualified professionals, researchers y workers making movements intra-corporateas well as spouses and children under 18 years of age.

One of its most attractive features is that the law envisages a speeding up of the processing, establishing in general terms a deadline of 10-day resolution for all visas.

The residence visa issued is sufficient to reside in Spain for one year without the need to apply for a foreigner's identity card.

It is also important to know that the renovation of the residence may be carried out even in the event of absences exceeding six months per year in the case of residence visas and authorisations for foreign investors or foreign employees of companies that carry out activities abroad and have their base of operations in Spain.

The procedure for the entrepreneur visa depends on whether you are already in Spain:

Where to apply. Visas must be applied for at the Spanish Consulate in the country of origin or residence.

In the case of residence permits, they must be applied for at the Large Companies and Strategic Collectives Unit.

a) If the entrepreneur is outside Spain: If they are outside Spain, they must apply for a residence visa for one year for the sole or main purpose of carrying out the preliminary procedures to be able to carry out the entrepreneurial activity.

• Apply for a visa to enter and reside in Spain for a period of up to one year.
• He then applies for a residence permit, which is renewable for two years.

b) If the entrepreneur is already in Spain, with a residence or stay authorisation:

If they are in Spain, i.e. they have an authorisation to stay, residence or entrepreneur visa, they must apply for an express authorisation of residence for entrepreneurs for two years, renewable, which enables them to carry out an economic activity as an entrepreneur.

Documents to be submitted:

• Identity card or passport.
• Public or private health insurance with an entity operating in Spain.
• Criminal record certificate.
• Proof of sufficient financial means for themselves and their family members during their period of residence in Spain.
• Prior to applying for a visa or authorisation, a favourable report on the entrepreneurial and business activity to be carried out in Spain is required.
• For visas, the entrepreneurial activity interest report must be requested at the Spanish Economic and Commercial Office in the area of the geographical demarcation where the visa is requested.
• For residence authorisations, the entrepreneurial activity report must be requested from the Directorate-General for Trade and Investment.

For more info and application forms see this link

Characteristics of the residence visa in Spain

This includes both investors who present a business project to be developed in Spain and which is considered and accredited as being of general interest, as well as those who plan to enter and remain in Spain for a period of one year for the sole or main purpose of carrying out the preliminary procedures to be able to develop an entrepreneurial activity.

In the first case, the interested party must submit a favourable report from the Commercial Office of the geographical demarcation area where the investor submits the visa application, to confirm that the business project presented is in the general interest. At mentorDay we help you to establish contacts.

Foreign entrepreneur acting through a company:

It should be noted that a significant equity investment is admissible when the investment is carried out by a legal person:

• Domiciled in a territory that is not considered a tax haven under Spanish law.
• The foreign entrepreneur holds, directly or indirectly, a majority of the voting rights.
• Have the power to appoint or dismiss the majority of the members of its management body.

In the case of Entrepreneurs, an entrepreneurial activity will be understood to be that which is of an innovative nature and of special interest for Spain, and to this effect, has a favourable report from the Commercial Office where the investor submits the visa application.