Entrepreneur Visa Program, Spain
The Law on Visas for Entrepreneurs is aimed at investors, entrepreneurs, highly skilled professionals, researchers, and workers performing inter-company business operations, including their spouses and children under 18. The Act facilitates a swiftness of processing, generally establishing a resolve within 10 days for all visa applications relevant to this law. The Residence Visa issued under this law is sufficient to reside in Spain for one year without having to obtain a foreign identity card. The renewal of residency may take place even if absences exist for longer than six months per year in the case of Residency Visas and authorisations for foreign investors and for foreign workers performing inter-company operations abroad or that have established their base of operations in Spain. This Act of residency visa refers to the following: Residency Visas for Capital Investors (RIC); (RIV); Residency Visas for Entrepreneurs and Business Activities (REM - In the case of entrepreneurs, entrepreneurial activity is understood as that which is innovative in nature with a special interest to Spain and can count on a favourable report from the Commercial Office where the investor presents the application for the visa). The Entrepreneur Visa is the residence permit granted to non-EU citizens who want to develop their entrepreneurial business activity in Spain. That is, it is a residence permit for two years (with the possibility of renewal at the end of this period) that you can get as long as you set up your business in the Spanish territory, which must be totally innovative and different from what already exists in the market today.
As stated in Law 14/2013, the law that regulates all visas under the entrepreneurs law, for this specific residency the business idea plays a fundamental role when it comes to the application procedure. Your business idea (i.e. the product or service you plan to market in Spain), must strictly comply with 3 main requirements: it must be innovative; must be of special economic interest for Spain and it creates investment opportunities for the country.