How to open a business in Spain

Every entrepreneur once thinks about entering the international market. Nowadays, such a project will not be too complicated, and many countries are happy to host foreign businessmen and investors. We will tell you how to open a business in Spain for a Russian and what you need for this.

Spain as a new market for your business

The economies of the EU countries are closely interconnected, but the level of development of states is not at the same level. Spain is among the countries that are considered economically developed and the government is doing everything possible to maintain this status.

Doing business in Spain will be a great opportunity to significantly increase your own revenues and become one of the players in the world's largest market. Many entrepreneurs choose this country for several reasons - a developed economy, the loyal attitude of the authorities and special programs for businessmen.

Visa for business in Spain

If you decide to go to Spain to start your own business, you will have to spend a lot of time preparing documents. The main task is to apply for a visa, but a simple tourist or business visa will not suit you. These visas do not give you the right to do business or visit the country several times, so such programs will be inconvenient for you.

The best way to open a business in Spain is to apply for a visa for a startup or as an investor. There is a significant difference between these programs, so it is worth considering them separately.

Investor Visa

You can get a visa and apply for a residence permit if you are ready to invest in the local economy. To do this, you need to invest at least €2 million in government debt securities or at least €1 million in shares of other companies. Also, cash investments can be replaced by the purchase of real estate in the amount of half a million euros, which will become your property. This program not only gives the right to engage in entrepreneurial activities, but also opens up new prospects for development. You will be able to apply for a residence permit, then apply for permanent residence and citizenship. At the same time, you will already have the rights of a resident of the country, so that you can work, study and use the services of medical institutions.

Start-up visa

A new program that was developed specifically for foreign entrepreneurs. You can make a business plan and contact the country's embassy to apply for a visa. A business plan will be the main reason for your appeal, so we advise you to conduct a market analysis and choose an area in which your company will really be successful.

This program is suitable for those who do not want to invest several million in the economy of another country. You will have legal status, an official work permit and the opportunity to become a successful entrepreneur in one of the EU countries.  

Regular tourist visas are not suitable for those who are going to work or start their own business. Migration requirements for such visas are quite strict, so you need to study all the conditions of the chosen program and strictly follow all the instructions. 

How to write a business plan for a startup

If you decide to choose a program for issuing a visa for a startup, the main requirement will be a detailed business plan for the future project. This document describes the idea itself, ways to achieve the goals and indicates the sources of funding. At the preparation stage, each applicant thinks about what kind of business to open in Spain, and you will have to study the local market in detail.

First of all, it must be borne in mind that your current activity or professional specialization must be related to the chosen industry. In addition to a detailed description of how you are going to open and run a business, you need to provide documents confirming that you have the necessary experience. The decision on each application is made individually, so you should take the preparation very seriously.

The Spanish government understands the benefits of new startups, but strictly selects only those projects that will be useful for the local economy. An excellent advantage will be your international experience and projects that are already successfully operating in other countries receive a large percentage of approval. We recommend that you study tips for entrepreneurs in order to prepare a successful and reliable business plan.

Investing in the local economy

If you decide to take advantage of the investor program, you only need to choose a company that you will support financially. Investment opportunities in the country are wide, as the economy is booming, so it will not be difficult to choose an option for your portfolio. However, there are a number of conditions for investors that must be met. For example, the amount of investment may vary depending on which companies you have chosen and advise you to consult before buying shares.

The peculiarity of the program is that you apply for a residence permit not only for yourself, but also for your family members. At the same time, you need to confirm the availability of funds for living in Spain, and the amount is calculated depending on the number of people who will be indicated in the application. The investment program is convenient because the percentage of approvals for it is very high, and the competitive environment in the economy makes it possible to find an excellent source of passive income.

The procedure for obtaining a visa for programs for investors and startups follows the same scenario. First, you need to collect all the required documents, then contact the consulate or embassy, after which you just have to wait. Both options are suitable for those who are still in the territory of another country and are just going to Spain. However, the presence of violations of migration control in Spain may be a reason for refusing to issue a visa. Most future residents of a European country prefer to work with agencies that provide consulting and document preparation services. In this case, the chance of getting approval is much higher, since the employees of such a company are well versed in all the nuances and can prepare a business plan that will attract the attention of commission members.

For those who decide to change their place of residence and choose Spain for this, it is important to understand that it will not be easy to legalize in Europe. First, you get a visa, then you can apply for a residence permit and after five years of permanent residence in the country you will be able to apply for citizenship. The country has created all the infrastructure for the normal life of each member of your family - excellent schools, well-known universities and modern medical institutions. Local banks issue loans to foreign citizens and residents of the country, so you will have the opportunity to purchase real estate with a mortgage or get additional financing to start a business. Regardless of which program you choose, each of them has developed optimal conditions for normal business growth.