Support to Foreign Entrepreneurs in Spain
Through the project of the Law to support entrepreneurs and their internationalization, the government intends to stimulate the foreign investment in Spain. Among other things, entrepreneurs will find facilitated entry into Spain and ability to stay in the country to develop their entrepreneurial activity.
Entrepreneurial Activity is considered activity with innovative character and that of special economic interest to Spain. In order to demonstrate these characteristics, the activity must result in a favorable report by the competent office of the Administration of State, whose evaluation will take into account the creation of jobs, the professional profile of the applicant, the business plan, and the value added to the Spanish economy, the innovation and/or the opportunities for investment that it represents.
Foreign Entrepreneurs can apply for a visa to enter and stay in Spain for the period of one year with plans to complete the necessary steps of initiating and developing a business Project.
After obtaining this visa, the entrepreneur can obtain the residential status for entrepreneurs without having to apply for any additional visa and without any previous period of stay, as long as they can justify the beginning of the activity for which the visa was initially requested.
If the entrepreneur wishes to apply for the residency authorization for business activity, they must comply with the general requirements for residency authorization, as well as the legal requirements for the beginning of the business activity.
These measures are very favorable for all foreigners wishing to start a business in Spain; facilitating entry into the country, the beginning of their own investment process, and obtaining residence in Spain.
This way, Spain increases the incentives for business investment in the country, in order to attract foreign investment from non-EU citizens.
This article is not considered as legal advice