When setting up a business in Spain, EU citizens have to meet similar conditions to those required of Spaniards. In contrast, other foreign nationals, such as Russian citizens, for example, are subject to a special procedure if they want to carry on a business activity in Spain. In future, it is likely that this procedure will also apply to business start-ups by Swiss nationals.
Unlike employees of third parties, who could be seen as a threat by job-seekers, investors are always welcome. Investors are both those who make use of their investments personally (a holiday home or retirement residence, for example), and those who invest as entrepreneurs in order to carry on a business activity on their own account. However, when setting up a business in Spain, foreign entrepreneurs are not all subject to the same conditions.
A lot of dust has been kicked up by the news that a referendum was held in Switzerland in which it was decided to shortly make changes to the law to restrict immigration and the free movement of EU citizens. One direct consequence of this restriction is that the agreement on free movement and free choice of residence within the Schengen area will have to be revised. As always used to be the case, Swiss nationals will then no longer be able to settle in Spain and carry on a business without meeting the same conditions as other non-EU citizens, such as Russian citizens, for example. In contrast, EU citizens from member states in the Schengen area can set up a business in Spain virtually unhindered.
Carlos Prieto Cid – Lawyer