Buying a business in Spain can be a viable path to obtaining residency in the country.

There are two main routes to pursue:

  1. Self-Employed Work Visa (Autonomo): This visa is specifically designed for individuals who wish to start a business or become self-employed in Spain. To qualify, you must have a sound business plan, sufficient financial resources to support yourself and your business for the first few months, and a clean medical and police record.
  2. Entrepreneur Visa: This visa is aimed at foreign entrepreneurs who want to establish a new business in Spain that has the potential to create jobs and contribute to the local economy. To be eligible, your business must be innovative and have a clear growth strategy. You will also need to invest a significant amount of capital, typically between €100,000 and €500,000.

General Requirements for Both Visas:

  • Passport: A valid and unexpired passport from your home country.
  • Business Plan: A comprehensive business plan that outlines your business concept, financial projections, market analysis, and growth strategy.
  • Clean Medical and Police Record: A certificate proving that you have no criminal record or health issues that could hinder your ability to live and work in Spain.
  • Financial Proof: Proof that you have sufficient financial resources to support yourself and your business for the first few months. This may include personal savings, business investments, or bank statements.
  • Spanish Language Skills: Some level of proficiency in Spanish is recommended, especially if you plan to interact directly with clients or employees.

Step-by-Step Process:

  1. Consult with a Immigration Lawyer: It’s crucial to seek guidance from a qualified immigration attorney who specializes in Spain’s visa and residency programs. They can assess your eligibility, guide you through the application process, and assist with any required documentation.
  2. Prepare Supporting Documents: Gather all necessary documents, including your passport, business plan, medical certificate, police record, financial proof, and any other applicable supporting documents.
  3. Apply for the Visa: Submit your visa application to the Spanish consulate or embassy in your home country. The application process typically involves filling out forms, providing biometric data (fingerprints and photo), and attending an interview.
  4. Obtain Residency Permit: If your visa application is approved, you will receive a residency permit that allows you to live and work in Spain. This permit is typically valid for a year and can be renewed for longer periods upon fulfillment of the requirements.
  5. Establish and Manage Your Business: Once you have residency, you can proceed to establish your business in Spain. This involves registering your company with the relevant authorities, obtaining necessary licenses and permits, and adhering to Spanish business regulations.
  6. Contribute to the Spanish Economy: Your business should actively contribute to the local economy by creating jobs, generating revenue, and providing valuable services or products to the community. This will demonstrate your commitment to Spain and strengthen your residency application.

Remember, the specific requirements and procedures may vary depending on your individual circumstances. It’s essential to consult with a qualified immigration attorney to ensure that you are compliant with the latest regulations and maximize your chances of obtaining residency through buying a business in Spain.