The Spain Startup Law supports the nation’s commitment to fostering an innovative and technologically driven business ecosystem.
Designed specifically for startups, the law aims to amplify investment in research, development, and innovation (R&D&I).
It encourages the formation of rapidly growing technology companies, by attracting international talent and facilitating domestic and foreign investment. Spain aims to become a leading entrepreneurial hub in Europe.
Here are some key aspects of the law:
Specialized Regulatory Framework: The law provides a specialized regulatory environment tailored to startups, recognizing their innovative nature and distinct requirements. By streamlining administrative processes and offering targeted incentives, it seeks to create an entrepreneurial legal landscape that aligns with market demands.
Objectives of the Law:
Attracting and Retaining Talent: The law encourages the inception or relocation of startups within Spanish territory. It also offers favorable tax considerations for stock options, making Spain an attractive destination for specialized talent.
Simplified Business Setup: Administrative procedures for startup establishment and operation have been streamlined, reducing bureaucratic hurdles.
Collaboration and Innovation: The law promotes collaboration between vocational training institutions, universities, and emerging companies. It aims to enhance development hubs in peripheral cities and rural areas, fostering innovation.
Gender Equality: Addressing gender disparity within the startup ecosystem is a priority.
Tax Opportunities:
Reduced Corporate Tax Rate: Startups benefit from a reduced corporate tax rate of 15% for the first tax period in which a profit is recorded and the following three periods.
Deferred Tax Payment: During their first two years of activity, startups can defer payment of corporate tax debt for twelve and six months, respectively, without collateral1.
Startup Visa and Intellectual Property Exemptions:
Startup Visa: Startups can obtain a special “startup visa” to attract foreign talent.
Intellectual Property Tax Exemption: They are exempt from certain taxes, including the “patent box” tax on intellectual property.
Simplified Administrative Procedures: Startups benefit from streamlined administrative processes2.
This offers opportunities to non-EU citizens who wish to relocate to Spain. https://www.remotefromspain.com/ is an excellent resource to engage in that process.
As part of your Visa process, you may need documents translated and officially notarized.
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OpenBank.es speak English, offer great services, easy to open.
Having moved to Barcelona, you will need to complete a few procedures for legal requirements. These are:
It is vital to get an NIE as soon as possible, and a "tarjeta". Full information here. If you are under a "digital nomad visa", you need to do this within 4 weeks of it being granted. A challenge is that the online system is often down, or has no appointments available. There is no option but to diligently persist with retrying the online application process until you succeed. Without your tarjeta, you cannot do most of the remaining steps, so prioritise this.
for example it is important to get on the "padron" (a register of those that live in the city) as soon as possible. You need to acquire a digital certificate for later procedures. You may need to register your pet, and so on. All of these are outllined at the Barcelona Welcome Desk. Complete these as soon as possible.
You should consider changing your driver's license to a Spanish one within 6 months. You can do that here, but similarly to the tarjeta process it can require persistence in Barcelona.
You will need a local SIM card as soon as possible, as some of the government procedures do not accept foreign numbers. Unless your phone is dual-SIM (or you somehow can abandon your foreign number), get used to the idea of having a second phone on hand to handle your initial procedures.
You will want a local bank account. OpenBank is easy to open, and works well in English.
If you are relocating as a self-employed person (autonomo) or as a business, you will need to register for social security, possibly VAT, and similar such procedures. If you are interested in taking advantage of tax breaks related to the Startup Law ("Beckham Law") you will also want to do this as soon as possible. Entre Tramites is an excellent, yet affordable company with English speakers that can handle all such procedures.
Catalan and Castillian (Spanish) are the native tongues, and it is of course important to acquire them as soon as possible to fully integrate and take advantage of all the local opportunities. That being said, as an international city Barcelona does have a relatively high percentage of folks who speak English. Many (but not all) of the startup / business related events and programmes are hosted in English as the lingua franca.
The internet is full of learning resources, but here are some that I have found useful:
Yes, Duolingo
Complete Spanish Course: Master Spanish Beginner to Advanced
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