This type of residence permit is intended for foreign nationals who plan to work for themselves or start their own business in Spain. It provides the opportunity to live and conduct entrepreneurial activities legally.
The amount of initial investment and the obligation to create jobs under this program are not strict requirements and are evaluated based on the specific project.
Main advantages of this type of residence permit:
- The ability to work in Spain and provide services to local clients (unlike the Digital Nomad residence permit).
- Lower income verification requirements when applying for the residence permit, which reduces the initial financial barriers for entrepreneurs. Tax obligations depend on the actual income level and can be minimal at the early stage.
- After renewing the residence permit (usually after 1 year), restrictions on region and type of activity are lifted. The applicant can combine entrepreneurial activities with employment anywhere in Spain.
- Family members such as a spouse, minor children, and financially dependent parents can also obtain a residence permit along with the applicant. To include family members, documents proving the relationship and financial dependence must be provided.
- After 5 years of continuous residence with this permit, one can obtain permanent residency, and after 10 years — Spanish citizenship, provided migration requirements are met.