Spain has become one of the favorite destinations for entrepreneurs from the United States. Moreover, it is not only attractive for those who want to work or invest in this country, it is also a highly sought-after destination for U.S. tourists. According to data from Frontur and Egatur, more than four million U.S. tourists arrived in Spain in 2024, setting an all-time record.
These data reflect the growing attraction on the part of Americans to undertake business in this country. But why? One of the main reasons is the Non lucrative visa for Spain, especially among retirees.
In this article we will find some examples of entrepreneurs who have made Spain their second home.
Why are American businessmen moving to Spain?
There are 3 reasons why Spain is one of the favorite destinations for entrepreneurs coming from the United States:
Quality of life and lifestyle appeal
The quality of life in the country is undoubtedly one of the main factors that motivate entrepreneurs to pack their bags and start a new life in Spain. Famous for its gastronomy and for its more than 300 days of sunshine a year, especially on the Costa Blanca, it makes people find a perfect balance between their personal and professional life.
Business-friendly hubs: Madrid, Barcelona, Valencia
Over the years, several cities have bet on innovation and have implemented a series of strategies to attract new foreign talent. Madrid, Barcelona and Valencia are clear examples of this, as they have established themselves as the main business hubs by offering modern infrastructures to work in a favorable and qualified environment.
Tax incentives and visa opportunities
In addition, the government of Spain has put in place tax incentives and visa opportunities to make this experience easier. A clear example is Beckham’s tax law in Spain. Thanks to this law, posted workers can be taxed only on income earned in Spain, with a flat rate of 24% up to 600,000 euros.
Prominent American entrepreneurs and businessmen in Spain
Here are some examples of entrepreneurs who have bet on entrepreneurship in Spain:
Gwyneth Paltrow
Actress and businesswoman Gwyneth Paltrow has shown a particular interest in Spain, especially in its culture and gastronomy. Although she does not reside permanently in the country, she has invested in projects related to wellness and healthy eating.
Richard Branson
The founder of the Virgin Group has invested in property in the Balearic Islands, showing his appreciation for the Spanish lifestyle.
Chris Stewart
Chris Stewart, former drummer of the band Genesis, moved to Spain and wrote about his experience in the book “Driving Over Lemons”.
Legal and tax considerations for Americans doing business in Spain
When moving to Spain and starting a business there are some aspects to consider. For example, the non-profit visa is viable for those people who do not plan to work in Spain, but want to reside legally. To do so, they must demonstrate sufficient economic solvency.
As for taxation, the Beckham Law offers an attractive regime for posted workers, allowing them to be taxed only on income earned in Spain.
In order to make this new path easier, it is important to be well advised by international lawyers specialized in taxation and international law to ensure that all regulations are complied with and that no mistakes are made when submitting applications.
