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COMPANY FORMATION WON’T GIVE YOU SPANISH RESIDENCE PERMIT

spanish residence permit

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[vc_row][vc_column][vc_column_text]Many people believe that the mere fact of starting a company in Spain can grant you the Spanish residence permit automatically or very easily. This is not exactly the case. The incorporation of a company itself is not enough.

How does it work?

Any non- EU national who wishes to open a company and live in Spain needs to obtain the so-called self-employment and residence permit. This permit is initially issued for one year and can be renewed for periods of 2 years. It allows you to work as a freelancer/ company administrator and sign up for social security as such in Spain.

What do I need? 

The documents required to present with the application are the following:

  • Public deed of the incorporation of the company
  • Proof of availability of material means of production or service
  • Proof of disposing of a venue, by property title or, if applicable, the lease of the premises
  • Copy of the documentation accrediting the training and, if applicable, the professional qualification legally required
  • A detailed business plan containing market analysis, required licences, projected earnings and employment for the coming years, etc.
  • Proof of disposing of the necessary financial investment to which reference is made in the business plan
  • Accreditation of having at least applied for the required administrative licences to realise the economic activity

What is the process for the Spanish Residence Permit?

First of all, you need to go through all the steps to start the company (open a bank account, sign the company’s public deed in a notary, etc.). Once the company is formed, you can apply for the above mentioned self-employed (or business) residency permit. In fact, as mentioned, one of the documents required in the application is the public deed of incorporation. The application has to be presented at the Spanish Consulate in accordance with your place of residence.

Is there an easier way to go about the process?

Another option to get started is to first apply for the non-lucrative visa and residence permit. This permit allows you to reside in Spain for one year, while not providing a work permit. After the first year, you can either renew the non-lucrative residency for periods of 2 years, or apply for a modification into a work or business activity residency permit. This would give you the option of getting your family settled in Spain and analysing your business options.

It is far easier to apply for this permit at the Consular office, since it does not require as many documents to be presented. Of course, the disadvantage is that you would have to be able to accredit disposing of sufficient economic means to sustain yourself and any accompanying family members during the first year, as well as full health insurance coverage, since a registration with social security would not yet be possible.

If I do this will I get my residency? 

Not necessarily, in the end company formation won’t give you the residency because it depends on your business plan, background checks, even the person reviewing your application and the type of permit you are requesting.

What can Lexidy do for you, regarding the Spanish Recidence Permit ?

At Lexidyy, we can assist you through all the steps of company formation and with the application for the residency permit.

You can also ask for a free consultation on the form below:


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