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Spain Golden Visa: Is the Entrepreneur Residence Permit the Next Best Thing? · IMI Podcasts

• 0:00
  SPEAKER_00: The publication of Organic Law One of twenty twenty five on january third has finally put a deadline on the investor residence in Spain, commonly known as the Golden Visa.
• 0:10
  SPEAKER_00: On april third, Articles sixty three to sixty seven of Law fourteen of twenty thirteen of september twenty seventh will phase out, thereby eliminating all forms of investment as a route to a residence permit in Spain.
• 0:22
  SPEAKER_00: The Golden Visa phaseout will not affect Articles sixty eight to seventy of Law fourteen of twenty thirteen, which regulate the entrepreneur visa and residence permit.
• 0:33
  SPEAKER_00: This type of visa may thrive in the coming years, especially since Law 28 of 2022 of December 21st has improved its application process.
• 0:43
  SPEAKER_00: Entrepreneurs seeking Spanish residents can now submit applications online through the Ministry of Migrations portal from any location worldwide.
• 0:51
  SPEAKER_00: This digital shift has streamlined the application process.
• 0:55
  SPEAKER_00: The application requires standard civil documentation, including police clearance certificates and vital records.
• 1:03
  SPEAKER_00: A comprehensive business plan uploaded directly to the portal serves as the cornerstone of the application.
• 1:10
  SPEAKER_00: The business proposal must demonstrate plans for an innovative Spanish venture that aligns with the applicant's expertise.
• 1:17
  SPEAKER_00: While no minimum capital requirement exists, most successful applications include€150,000 to 200,000 euros in fixed asset investments.
• 1:27
  SPEAKER_00: Creating five to six jobs in Spain is also a crucial component of these proposals.
• 1:33
  SPEAKER_00: ENISA, Spanish Innovation and Entrepreneurship Agency, has overseen the review and approval of all business plans since December 2022.
• 1:43
  SPEAKER_00: The submissions include an online questionnaire that evaluates the proposed venture's innovation potential and scalability.
• 1:50
  SPEAKER_00: Anissa's oversight has expedited and standardized the business plan evaluation process.
• 1:56
  SPEAKER_00: Before December 2022, Spanish consular trade departments conducted these assessments abroad.
• 2:02
  SPEAKER_00: The review timeline has decreased from two months to three to four weeks.
• 2:07
  SPEAKER_00: The entrepreneur residence permit is initially valid for three years, followed by renewable five-year extensions.
• 2:14
  SPEAKER_00: The permit differs from the Golden Visa's residency requirement.
• 2:18
  SPEAKER_00: Holders must live in Spain for six months annually to maintain eligibility.
• 2:24
  SPEAKER_00: Since 2022, entrepreneurs who meet the residency requirements qualify for Spain's Beckham Rule Tax Provision, which reduces their Spanish tax obligations.
• 2:34
  SPEAKER_00: Qualifying applicants and their families face a global personal income tax rate of 19% to 28% for six years after moving to Spain, with rates varying by income level and type.
• 2:46
  SPEAKER_00: Due to the Golden Visa phase out and Spain being the fastest growing economy in the Eurozone, we are witnessing a surge in entrepreneur visas among business people and expect this to continue in the future.
• 2:59
  SPEAKER_00: This episode first appeared as an article by Amada Bas on IMIDaily.com.
• 3:05
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