Startup Visa in Spain: the path to innovative business and European residence permit
8 April
Spain actively attracts foreign entrepreneurs, offering them unique opportunities to develop innovative businesses through the startup visa program. This residence permit provides significant advantages compared to other types of residence permits, which makes it especially attractive to startuppers from all over the world.
Advantages of a startup visa over other types of residence permits
1. No significant investment: Unlike the “golden visa”, which required investments in real estate from €500,000, a startup visa does not require mandatory financial investments in the country's economy.
2. Simplified residency requirements: A startup visa does not require permanent residence in Spain, unlike some other types of residence permits, which gives entrepreneurs flexibility in conducting international business.
3. Fast processing: Startup visa applications are processed quickly, allowing entrepreneurs to quickly begin implementing their projects in Spain.
4. Access to the European market: Obtaining a startup visa in Spain opens the door to the markets of the European Union, facilitating the expansion of business internationally.
History of the startup visa in Spain
In December 2022, Spain adopted the so-called “Startup Law” (Ley de Startups), the purpose of which was to create a favorable environment for innovative enterprises and attract talented entrepreneurs from all over the world. This law introduced a number of measures, including tax incentives, simplified procedures for obtaining a residence permit, and support for the startup ecosystem.
Residence permit statistics and successes
Since the launch of the startup visa program, Spain has issued a significant number of residence permits to entrepreneurs from different countries. The exact figures vary, but the trend shows a steady increase in interest in the program. Cities like Madrid and Barcelona are becoming centers of attraction for startups, offering developed infrastructure and access to investment.
Difficulties of self-application
Formally, the application process for a startup visa is available for self-application. However, in practice, it is associated with a number of difficulties:
• Drawing up a business plan: Not only a detailed description of the project is required, but also its compliance with the innovation criteria established by the Spanish authorities. Errors or inaccuracies can lead to refusal.
• Collection of documents: It is necessary to provide a full package of documents, including financial confirmations, certificates of no criminal record, medical insurance and others. Incorrect execution or the absence of even one of them can delay the process or lead to refusal.
• Language barrier and knowledge of local laws: Without a deep understanding of Spanish legislation and language, it is easy to miss important details or misinterpret requirements.
Turning to professionals significantly increases the chances of successfully obtaining a startup visa, minimizing risks and saving your time.
Who can apply for a startup visa
Almost any entrepreneur with an innovative idea and sufficient financial resources can apply for a startup visa. Even if you do not yet have a clear concept, specialists will help you develop an idea and draw up a business plan that meets the requirements of the Spanish authorities. The main thing is the desire to develop a business in Spain and the willingness to invest in its implementation.
Financial requirements
To obtain a startup visa, you must confirm that you have sufficient financial resources:
• For the main applicant: €31,752 per year (which is 200% of the minimum wage in Spain).
• For the first family member: an additional €11,907 per year (75% of the minimum wage).
• For each additional family member: an additional €3,969 per year (25% of the minimum wage).
Thus, a family of three will need to prove a minimum of €47,628 per year.
Startup visa application costs
The cost of applying for a startup visa varies depending on the company chosen and the scope of services provided.
On average, the prices on the market are as follows:
• Turnkey package for the main applicant: from €4,500 to €10,000. This amount usually includes the development and approval of a business plan, preparation and submission of all necessary documents, as well as support at all stages of the process.
• Additionally for each family member: from €300 to €600. This includes the preparation and submission of documents for the spouse and/or children of the applicant.
It is important to consider that independent submission, despite the apparent savings, can lead to additional costs in case of errors or refusals. Therefore, cooperation with experienced specialists is often a more profitable and reliable option.
Startup Visa Spain
A startup visa in Spain opens up wide opportunities for entrepreneurs who want to develop their business in Europe.