Spain, Portugal and France offer several residence routes for entrepreneurs, self-employed professionals and business owners. The right option depends on the type of business, family needs, tax planning, investment capacity, timing and whether the project is innovative or a traditional business.
Spain
Spain has two main business immigration options: the entrepreneur visa and the self-employed visa.
The entrepreneur visa is aimed at innovative, scalable projects, especially those with a technology or startup component. The process involves two parallel reviews:
- Immigration review through the Spanish labor authorities.
- Business-project review by ENISA, which assesses whether the project is innovative, scalable and of interest to Spain.
The ENISA favorable report is the key document. Without it, the entrepreneur visa cannot be approved. ENISA looks at the business model, innovation, scalability, market competition, management team and founder profile.
The process usually takes around two months, although delays can happen. The initial permit is granted for three years, then renewable for two-year periods. After five years, the holder may apply for EU long-term residence.
Financial means are required. Although the legal minimum can be lower, in practice authorities may request around €50,000 for the main applicant because the initial permit lasts three years. Additional funds are required for family members.
The entrepreneur visa can be requested from Spain or from outside Spain. However, for the Spanish special tax regime known as the Beckham Law, the applicant must obtain the ENISA favorable report before relocating to Spain. This makes timing important.
The entrepreneur visa also allows family members to join the main applicant and gives broader work flexibility. Holders may run the project that supported the visa, operate another business or take part-time employment.
The self-employed visa is Spain’s traditional business visa. It is suited to general businesses, such as consulting, hospitality or other non-innovative activities. It must be requested in person at the Spanish consulate or embassy in the applicant’s country of residence.
This route requires more preparation before filing. Authorities expect to see that the applicant is ready to start operating once the residence permit is approved. Depending on the business, this may include:
- Contracts already in place.
- A company already incorporated.
- Premises or a lease agreement.
- A strong business plan.
- Evidence that the activity is viable and will generate economic benefit.
The legal review period is around three months, but in practice decisions often take six to eight months because applications are reviewed by the city where the applicant intends to live, such as Madrid or Barcelona.
The self-employed permit is granted for one year and renewed for two-year periods. After five years, the holder may apply for EU long-term residence.
Family members cannot usually join initially under this permit. They may join after one year through family reunification, or they may apply for their own independent residence permits.
The Beckham Law may be possible for self-employed permit holders only in more limited cases. The applicant would usually need to incorporate a Spanish company, serve as director and show that the company has real substance, such as an office, employees and actual business activity. A company where the applicant is the only real asset may not be enough.
Portugal
Portugal’s D2 visa is designed for people who want to live in Portugal and operate a business there. The applicant may work as a freelancer or contractor, or incorporate a Portuguese company.
There is no fixed minimum investment requirement for the D2 visa. Portugal also does not restrict the type of business. Traditional businesses, consulting, food and beverage, cybersecurity, digital services and other activities may qualify.
The main requirements include:
- A Portuguese taxpayer number.
- A freelance activity registered with the Portuguese tax authorities, or a Portuguese company.
- A personal Portuguese bank account.
- If using a company, a corporate bank account.
- Financial means in the personal account.
- A viable business plan.
- Travel or health insurance.
- Proof of accommodation.
For the personal bank account, the amount is tied to Portugal’s minimum wage for one year. The transcript gives an approximate figure of €11,000 for the main applicant. If family members are included, additional amounts are needed: around 50% extra for a spouse and one-third for each child.
If incorporating a company, the corporate bank account must hold the company’s share capital. The legal minimum share capital in Portugal can be €1, but this is not usually recommended because it may not inspire confidence. A more typical advised minimum mentioned was €2,000 to €5,000.
The D2 visa is first requested from the applicant’s country of origin. Once approved, the applicant has four months to relocate to Portugal and convert the visa into a residence permit.
The residence permit is valid for two years, then renewable for three more years. After five years, the applicant may apply for permanent residence. After ten years, citizenship may be possible.
The D2 visa can include family members from the beginning. If family members do not apply together with the main applicant, they may have to wait before joining through family reunification.
For a business with multiple shareholders, Portugal can allow more than one shareholder under a D2 structure. The guidance given was that up to four shareholders is generally workable. For branch-office situations, a subsidiary may be preferable because the individual applicant can hold at least 25% of the Portuguese company while the foreign company holds the remaining shares.
Portugal does not require the business to be innovative for the D2 visa. However, if the business is innovative or technology-related, tax benefits under Portugal’s NHR 2.0 / IFICI regime may be worth exploring.
Portugal has stay requirements. For the temporary residence permit, the holder generally cannot be outside Portugal for six consecutive months or eight non-consecutive months during the permit period. This applies during the first two-year permit and later renewal periods. There may be exceptions, especially where the entrepreneur has business abroad.
France
France has several business visa options. Two common routes are the entrepreneur/profession libérale visa and the talent passport company-owner route.
The entrepreneur/profession libérale visa can be used by freelancers or by people creating a company. The applicant must show an economically viable project and expected income of at least the French minimum wage, stated in the transcript as approximately €1,800 per month.
The applicant also needs relevant qualifications or professional experience and a favorable opinion from DREETS, the French labor authority. A business plan is submitted for review, and DREETS assesses whether the project is viable for France.
After the visa is approved, the applicant can register the freelance activity or form the company. Company formation may take around 15 days to one month. Registering as a freelancer may take around 10 days.
The visa is valid for one year and can be renewed. Renewal should be requested at least three months before expiry.
Family members cannot join directly under this visa as dependents. Instead, they may apply for visitor visas alongside the main applicant.
The talent passport company-owner route has a major advantage for families: family members can come with the main applicant, and the spouse can work in France.
This route requires a €30,000 investment in the business. The investment can be made as share capital, in which case proof of expenditure is not required, or spent on business needs, in which case the applicant must prove the expenditure. For example, a restaurant project might document equipment purchases such as kitchen appliances and tables.
The applicant must also show either a master’s degree or at least five years of comparable professional experience. A favorable DREETS opinion is again required. The business plan should include financial projections, contracts, partnerships, the management team, professional experience and the project’s plan for France.
The talent passport permit is valid for five years. Renewal should be requested at least three months before expiry. The immigration process may take around five months, including preparation, DREETS opinion and visa issuance.
France does not restrict business concepts to innovative projects. Traditional businesses and fully digital businesses may qualify. Innovative companies may have access to tax benefits depending on the sector.
France also has a specific talent passport route for artistic activity, which may be relevant for art-based businesses such as painting.
Business Plans
Business-plan expectations differ by country.
In Spain, the entrepreneur visa requires innovation and scalability. Innovation can be in the product, service, business model or processes. Registered intellectual property, awards and strong founder credentials can help. ENISA also reviews market analysis, competitors, the management team and founder profile.
For Spain’s self-employed visa, the business plan does not need to be innovative, but it must show that the business is solid, profitable, realistic and beneficial to Spain.
In Portugal, the D2 visa is flexible. The business can be traditional or innovative. The business plan must show a viable activity, but the visa is not rejected simply because the sector is ordinary.
In France, the business plan should include five-year financial projections, secured contracts where available, partnerships, the management team, professional experience and a clear plan for France.
Tax Points
Tax outcomes depend heavily on personal circumstances, family situation, company structure and where the applicant lives.
Spain’s corporate tax rate may be 15% for the first years in some cases, then 25%. Personal income tax is progressive and varies partly by autonomous community. The Beckham Law can provide a flat personal income tax regime if the applicant qualifies.
Portugal has a 15% corporate tax rate on the first €50,000, then a progressive rate up to 19%, according to the transcript. The rate is expected to decrease by 1% per year over the next three years. Dividends paid to individuals are taxed at 28%. Personal income tax is progressive.
France applies 15% corporate tax on the portion of net result below €42,000 and 25% above that. Personal income tax depends on the taxpayer’s household situation, including family and children. Dividends are taxed at 31.4%.
Portugal and France both treat residence and taxation as connected. If the applicant lives in the country, they may become tax resident there. Portugal applies the 183-day tax-residence concept, but immigration stay requirements are separate. France expects applicants to live in France for renewal purposes and generally to become French tax residents.
EU Citizen Spouses
If an applicant is married to an EU citizen, a different route may be available. In Spain, for example, the spouse of an EU citizen can apply for an EU family card, which gives residence and work rights. This is separate from the entrepreneur or self-employed routes.
Choosing Between Countries
The best country is not necessarily the one with the fastest process. Applicants should consider:
- Whether the business is innovative or traditional.
- Whether family members need to move immediately.
- Whether the spouse needs work rights.
- Required investment.
- Tax consequences.
- Corporate structure.
- Long-term residence or citizenship goals.
- Personal preference and lifestyle.
- Whether the applicant must spend significant time in the country.
- Whether the business needs local staff, premises or market presence.
Spain may be attractive for innovative and scalable projects, especially where the ENISA report and Beckham Law are relevant.
Portugal may be attractive for flexible business types, lower formal investment barriers and family inclusion.
France may be attractive for larger or more structured business projects, especially where the applicant can meet the €30,000 investment requirement and wants family members to come with work rights for the spouse.
The main risk across all three countries is applying with a weak or poorly documented business plan. Even where there is no fixed success rate, a strong application should clearly show that the applicant meets the requirements, has sufficient funds and has a credible business plan.
