If you plan of working in Spain then a work visa in what you should be looking at if an investment visa is not one you could get.

You need to get the work visa before you move to Spain.

 

Thanks for the reply.

Would a working visa entitle me to stay whilst I'm contributing to the economy? Is there a way to turn this into a residency after a certain number of years?

 

Our dream is to create a home that can host 6-8 guests,

Welcome to the forum,
Do you have any experience of running a B&B? Do you know the sort of permission and personal certificates you need to run a business in Spain?
Why would you want to shut a tourist business down during peak season?
This is the UK advice about living and working in Spain.

Living in Spain

Information for British citizens moving to or living in Spain, including guidance on residency, healthcare and passports.

www.gov.uk

Have you any experience of undertaking building work or new build here in Spain. Obtaining licences/permissions can take years. You had better get over to Spain and ask what the situation is on the island.
I will expect after the devastation in the past week you may find scenarios where either constitution workers, and/or materiels to be in short supply. Maybe the increase of costs too.
There several visas for, non EU persons, which allow them to live in Spain
The list can be found here

Consular services

www.exteriores.gob.es

The so called golden visa may be with drawn soon.
This is how the Spanish deem you to be a tax resident.

https://sede.agenciatributaria.gob.es/Sede/en_gb/no-residentes/residencia-personas-fisicas-juridicas/persona-fisica-residente-espana.html

 

Thank you for taking the time to reply. I've tried to answer your questions the best I can.

1. We don't specifically have experience running a B&B but have run our own successful business for over a decade which includes running some quite high pressured event for some global clients.
2. I don't personally have experience of obtaining a license and building in Spain. I'm more than prepared for this to take a number of years and have an associate in Mallorca who does this very thing so can be my eyes on the ground and guide me through the process.
3. I don't think a golden visa would be applicable in our case as the investment would be over a number of years and not a single purchase

I appreciate the link, I shall give them a read

 

Sounds like a commercial enterprise to me.

 

yes, I believe it's a commercial enterprise first, do you know how this impacts visas?

 

The buying of a plot of land, building a dwelling to undertake 'culinary experiences; and building up the business (they say they want to make the island their permanent home but then say they would spend 2 to 3 months in the UK), will take years.
How do they live in the meantime? The forementioned is going to take a lot of financial resources, so unless they have investments to both invest in the project AND to live on, they are going to have to work - hence my suggestion of a work visa.
More info is needed from the OP....

 

We're quite prepared for this project to take several years to materialise, we would only have to travel back to the UK for the first couple of years, until our kids are totally set-up. We're realists, knowing they will need support initially, but as soon as they don't, they will be off living their own lives.

Our plan is to continue to work in the UK whilst we fund the project start-up over a number of years. We would then move our working lives to Mallorca once everything is ready, and use our experience in design, marketing, advertising and hospitality to build the new business up. We have the savings to fund this project until its ready to be a going concern

 

Given this summer's protests I would imagine having a business to encourage even more people arriving on the island for holidays won't be popular on a local level. Lots of Locals struggle to find places to live due to over tourism.

 

those protests relate to the use of houses as vacation rentals than hotels/B&Bs.

Protestas en Palma contra el alquiler turístico ilegal: «Tenemos despedidas de solteros y borrachos debajo de casa»

Más de sesenta personas acudieron a la convocatoria de -Turisme+ Vida por el hotel clandestino de Arquitecte Gaspar Bennàssar 26. Las protestas contra el turismo y los problemas de la vivienda se multiplicaron este miércoles en el centro de Palma pero también en el Eixample. Precisamente a las...

www.ultimahora.es

Palma prohibirá los nuevos alquileres turísticos y limitará los 'rent a car' tras las manifestaciones contra la masificación

Pese a posicionarse en contra de este tipo de medidas en las últimas décadas, el PP, que en la actualidad gobierna la capital balear, ha lanzado un paquete de iniciativas dirigidas a la sostenibilidad social, económica y medioambiental del turismo

www.eldiario.es

 

Certainly not an easy task and buying a plot of land means you should check in advance if your plan will even be granted, otherwise you end up with an expensive plot of land that's not suitable. Your idea is unfortunately nothing unique and already done by locals or Germans and other nationals who have the contacts. It's mandatory that an architect is used and they can cost anywhere between 7%-12% of your building sum. Before buying any land, make sure it would even be granted.

 

thank you. I have an associate in Mallorca that like you say, does this, it's nothing new. I'm hoping our service offering is right for the market (that comes down to our knowledge and experience). I'm just unsure if we stand a chance of being able to live and work in Mallorca once complete

 

Our dream is to create a home that can host 6-8 guests, giving us the opportunity to share the island’s beauty with visitors. We’d like to partner with local suppliers, using their wonderful produce to create authentic culinary experiences. Once our daughters are on their own paths, we envision running this venture for 9-10 months each year, and returning to the UK during the busiest, hottest months.


Any advice, insights, or recommendations would be greatly appreciated.

Having been down the route of planning for a B&B (although it was about 10 years ago) I can tell you one thing.

The above paragraph from your comment will deprive you of the busiest and therefore best earning part of the year. Tourists who only come for two weeks dont care about the relentless heat in the summer months. They will happily part with their cash.


Which to me shows that you are dreaming not seriously planning for now.
You need to stop looking for the positives. Anyone who runs a customer facing business should always be looking at what can go wrong and then plan. If it doesn't go wrong then you are quids (or euros's in). If it does and it will then you are prepared.

You CANNOT plan something like this from another country. We found that you need to have 'boots on the ground' to plan, execute, replan, write off and when head to a bar.

How many visits as a prospective business owner have you made?
Have you spoken with others who are doing this and asked how much money they are taking?
Have you checked the feasibility of the plan?
Where is the money coming from for the two, three or even ten years it will take to get established (you will need to show this in your business plan) and you will need a good one at that.
Do you have customer facing experience, or hotel, bar, cafe? WE did, my wife owned and ran a busy cafe near Brighton, her father owned and ran a hotel and both my wife and son worked in various retail industries.

Buying land and building is fraught with danger in Spain, land that is agriculture can usually not be retitled. I would assume that the islands are even stricter.
You would be better off buying an existing business as this will save most of the heartache. And costs in the long run.

You could come over on a self-employed or business visa but you still need the money to live on while the business gets setup. I would also assume that the visa will have a time limit on proving its merit (or should).

I have a massive folder with paperwork from the town planner, council, suppliers, the letting rules (when we looked you didnt need a tourist licence for a B&B).
We were planning to buy an existing large house and convert it. My wife and son were to run the B&B and I was going to stay in the Uk working and then go contracting a year or so later.

I had a business plan, contacts, the area we were looking at, my wife's FIL lived, we had been visitors to for the past ten or so years, we knew bar owners and had a contact at the local council.
But when I finally got the mountain of paperwork in hand, it was going to cost far more to setup than we would make in the years to retirement. And then you either have to sell (business capital gains here are higher than the UK).

We decided against in the end and just moved here, lock stock etc. I still dream of this but three of the four similar business's in our area have since closed and there are now two big hotels catering for the tourists we had hoped to attract.

You need a 'hook' something that there is a market for but not exploited if you want this to work.
We planned to do cycle tours, I have a friend who is part of the UK cycle club so he was going to promote our business, he knew his opposite number in the Germany club and I had planned to build a workshop etc. Even with these people out of season and tourists lounging round my pool in the summer, we reckoned we wouldnt make more than a living wage. (a spanish living wage at that)

Also final word. Someone told me a long time ago that to make a small fortune anywhere, you should always start out with a large one (he was a bar owner in Benidorm)..

If you search back far enough Im sure my replies on other threads will come up. I think I gave specific details on one a few years ago.

But hey if its your dream, then go for it. I can only give my experience.

 

I really appreciate your insights, and I take your points on board. While we haven’t run a B&B before, we do have experience in hospitality and service, and having run our own business, we understand the importance of reputation and know that in this field, a single review can make or break you.

Fortunately, we have a close associate in Mallorca with firsthand experience buying land, securing planning permissions, and building on plots. This connection is a huge asset and something we’re grateful to be able to draw on.

As for funding, we believe we have enough to get started, supplemented by private investments, so our income needs are modest. However, I’m not sure if this would be seen as a disadvantage in a business plan for securing a working visa. We're looking to earn a bit of supplementary income, rather than generate substantial profits.

You raised a good point about leaving during peak tourist months, but for our target market, this might not be an issue. There could also be the option to rent our property for short periods if we return to the UK for a few weeks.

When you mentioned the challenge of meeting a Spanish living wage, I wondered if this is partly due to the costs of loans and financing for your project. I apologise if this question is too forward, but if your project were debt-free and 60% of your monthly income came from personal investments, would it be a different scenario?

Our aim isn’t to set up a high-income venture but rather a semi-retirement plan. We’re looking for something that covers a modest income, say €1,500 a month, which would allow us to live comfortably without the pressure of extensive growth or profit targets. With our experience overcoming similar challenges in the past, we’re still young and driven enough to take on this new adventure but are realistic about our expectations

 

Wouldn't it be a lot easier to purchase a large house and refurbish it for your business rather than buy land and then build from scratch? Would save time and money I would have thought.

 

I actually think in the long run it's cheaper to buy undeveloped land and build, as its a pain and takes many years, there is lots of red tape, and nothing moves fast, which puts most people off, and drives the cost up of houses with development potential – people simply don't want to wait. For us, it's the opposite, we are unable to make the move for over five years, so having somewhere ready, sitting dormant wouldn't work for us, and could result in it being rented.