Spain, a Mediterranean treasure noted for its vibrant culture, beautiful scenery, and laid-back lifestyle, has also become a favorite location for budding entrepreneurs and freelancers. The country’s excellent business environment, together with its reasonable tax rates and great quality of life, make it an extremely appealing alternative for those looking to start their own businesses. One of the most appealing options for self-employed professionals is the Self-Employed VISA. This visa enables individuals to establish a firm in Spain and work freely, providing a unique opportunity to follow entrepreneurial goals in a European setting.
What is the Spanish Self-Employed VISA?
The Spanish self-employed VISA is a residence authorization granted to non-European Union citizens who intend to establish their own business or practice as independent professionals in Spain. To legally operate their business, foreign individuals must first obtain the necessary work permit. This specialized permit is distinct from the work permit required for employment with a company. The process involves applying for the self-employed permit, registering as a self-employed individual in Spain, and subsequently completing the procedures for business incorporation and launch. Notably, several of these steps are interconnected with the application for the foreigner’s residence permit.
Requirements to Apply for Self-Employed VISA in Spain
The basic requirements to apply for self-employed VISA in Spain includes:
1. Business Plan
The first and foremost requirement to apply for a self-entrepreneur VISA is an articulated business plan. This business plan is critical for analyzing the potential of your business and whether it fits the requirements for obtaining a self-employed work permit.
While preparing your business plan, you need to be focused and mention everything which is required for a business plan which helps in smooth conduction of your application.
What should be included in your business plan?
- Your business plan should include an in-depth description of your proposed business, proving its feasibility and potential contribution to the Spanish economy.
- A thorough overview of your business, including its name, legal structure (e.g., sole proprietorship, limited company), and mission statement.
- Explain the products or services you will provide and how they will address a specific need in the Spanish market.
- If you are looking for external support, indicate how much you require and how the cash will be used.
Make sure, your business plan must be validated by one of the designated business associations like OnDemand International.
2. Proof of sufficient capital to start the business
The amount of money you need to show you have for a Spain Self-Employed VISA depends on what kind of business you’re starting, how big it is, and what the Spanish government is asking for at the time. But generally, you’ll need to prove you have enough money to keep your business running and pay your bills for at least three years.
For instance, if you are planning to start a trading business in Spain, you need a building or premises, so you have to provide evidence that you have enough funds to pay your rent, bills, and regulate your business.
3. VISA applicant’s CV & profile
Your personal information and resume are really important for your VISA application. This will tell the Spanish government about your education, what jobs you’ve had, and if you’d be a good entrepreneur.
If you make sure your personal information and resume are really good, you’ll have a better chance of getting the Spain Self-Employed VISA.
Application Process for Spain Self-Employed VISA
Before applying for your self-employed VISA, you need to prepare the required documents:
- Valid Passport
- Proposed business plan
- Medical certificate
- Police clearance certificate
- Bank Statement
- Clean criminal record certificate
- EX-07 application form
Once you prepare all your documents, contact the Spanish consulate or embassy in your country to schedule an appointment for your visa interview. After your VISA interview, The application is initiated from the country of origin. The consulate will send your application to the right Spanish office based on where you want to start your business.
If they approve your application, the consulate will give you your visa. You’ll have 30 days to use it and go to Spain.
Once you’re in Spain, you’ll need to register with municipality, get an appointment to get fingerprinted and pick up your physical ID card, and register as a self-employed person with the government
Validity and duration of the self-employed VISA in Spain
The self-employed VISA in Spain is initially granted for a period of one year. This allows you to establish the company and prove its economic viability.
After the first year, you’ll need to renew your VISA if you want to stay and operate your business. The good news is that it’s now renewed for four years instead of two years. And when you renew it, you can work for a company or for yourself without any extra paperwork.
If you’ve been in Spain for at least five years on a temporary residence permit (including the initial one-year visa), you might be eligible to apply for a permanent residence permit. This allows you to stay and work in Spain indefinitely.
Frequently Asked Questions
1. What is the minimum investment required for a Self-Employed VISA in Spain?
While there is no minimum investment amount, you must demonstrate that you have enough money to cover your business and living needs for at least three years. The specific price may differ depending on your business plan, sector, and location.
2. Can I bring my family to Spain on a Self-Employed VISA?
Yes, you can bring your family members to Spain on a dependent visa. Your spouse and children can accompany you as long as you can provide financial support for them.
3. How long does it take to process a Self-Employed VISA application?
The processing period for a Self-Employed VISA varies, but it usually takes several weeks or months. To ensure adequate processing time, the application procedure must begin well in advance.
4. What are the tax implications of starting a business in Spain?
Spain has a progressive income tax system, meaning that the amount you pay depends on your income. You will also be expected to pay into social security as a self-employed person. It is advised that you consult a tax advisor to gain a better understanding of the tax implications for your company.
5. Can I switch from a Self-Employed VISA to a different visa type?
Yes, it’s possible to switch from a Self-Employed VISA to another visa type, such as a work visa or a residence permit. However, you’ll need to meet the specific requirements for the new visa and may need to provide additional documentation.
