When moving to Spain, it can be as daunting as moving to any new country. It can also be daunting to find potential work opportunities upon your arrival. But it is not as hard as you may think, and you may find that it is easier to find work in Spain than you first thought. We take a look at some potential business opportunities for the Expat entrepreneur. Note that is always good to get advice from those have already started up a business in Spain.
Why is Spain a Good Place to Start A Business?
Is Spain a good place to start a business? The honest answer is a resounding yes. A lot of people have first started their businesses in Spain. Spain is known to be one of the best places in Europe to start up a new business. But do not be fooled as it is not easy to start up a new business, but you can take full advantage of the economic situation if your business fills an unfulfilled demand in Spain, then you will be all set.
Starting a business in Spain can allow you to take advantage of local resources. You can start up a business like a tech start-up, a social media company or a business that appeals to the area you have decided to settle in.
Spain is proven to be a great place to start a new business are there are few industries which in turn means the competition for smaller start-ups is less challenging. If you have an idea, a strong business plan then Spain is one of the easiest places in Europe to succeed with a small business. Movement of transit and logistics for both goods and services without any unnecessary paperwork or changing exchange rates.
Spain is ideal due to its geographical location, climate, government stability, very productive economy, low labour, and transport costs. Which all make Spain an ideal place for a start-up.
Spain has the 14th largest economy in the world and the t5th largest in Europe. It has become a good starting point for businesses to expand or to get started. So below we list some great business ideas for Expats thinking of locating to Spain and starting up their own business.
Below we take a look at a couple of business ideas if you are thinking of starting up a business in Spain.
Become an Interpreter
Interpreters are very sort after in Spain as there are in many other countries. With Spain being a major tourist destination with millions of tourists every year if you can speak fluent Spanish or another language, your skills will be in demand. You could find work in one of Spain’s many airports, banks, estate agents or in media as examples. Having Spanish as a second language can open many job opportunities.
Become an Estate Agent or Property Manager
Many ex-pats venture into the world of the Spanish property market or real estate. There is money to be made in land procurement, building refurbishment, farms or estates, selling and buying property in Spain is always a fluid market and not a bad business to get yourself into. Refurbishing run-down properties and selling them on otherwise known as ‘flipping’ is not a bad business choice to do in Spain either. How to set up a company in Spain as an ex-pat.
Open a Bar or a Restaurant
Many ex-pats venture down the business area of bars and restaurants. Gary Lineker made it more appealing by opening Linekers Bars across Spain, now run by his infamous brother Wayne and many ex-pats followed suit. Many ex-pats choose to open bars and restaurants in tourist areas. These tend to be along the coast of Spain offering a variety of food options to cater for the tourist and ex-pat communities. It is easier than you think to set up and run a bar or restaurant in Spain and even the Spanish like something different when it comes to a night out.
The main benefits of starting your own company in Spain are that Spain has more successful start-ups than many other countries. This attracts a lot of foreign investment and foreign talent to Spanish shores. This is down to the great logistics and infrastructure that helps many start-ups to succeed.
It Does Not Matter If You Are a Foreigner or a Local Citizen You Can Start a Business In Spain
Anyone can start a business in Spain be it if you are a local citizen or a foreigner. The only requirement is that you are a legal resident. But the process can get a bit complicated depending on your country of origin.
The legal requirements to start up your own business are as follows. If you are from an EU country the procedure of starting up a business is rather straightforward. You just need to get your NIE and EU registry certificate, and then you can simply move to the constitution part of the process but if you are a non-EU citizen you will need to get a working visa to start work or your business.
if you are a legal resident, it does make things a lot easier.
So to get your business off the ground, you will have to follow these steps
Get your NIE number (Número de Identidad de Extranjero, which translates as Identification Number for Foreigners)
Your certificate of uniqueness – defining the names of the company and checking that it is valid
Get your CIF or tax ID number
Open a bank account to be used for the company
Establish shareholders and create a shareholder agreement
Going to the notary (an impartial witness to the signing or authentication of a legal document) and signing the public deed of incorporation
Registering your company with the tax authorities
Registering your company in the social security
Once you have finalised the legalities you and passed the legal requirements you will then be able to start your new Spanish business adventure!