If you want to change your non-profit residency for a business activity one, we will tell you what financial means you need.

Many of our clients ask themselves what financial means they need, according to certain requirements, in order to be able to change the non-profit residency and convert it into a self-employed residency.

In principle, the same financial means are needed as for a non-profit residency, which we already know that, in this year 2023, are 4 times the amount fixed by the IPREM, that is, we are talking about 600€ per month times 4, that is,what we are talking about is 2400€ per month for the first member of the family.

For each additional member we would have to add 600€ more, which means 2400€ plus 600€ which would be 3000€ per month, and so on for each additional member, therefore, the financial means would be in principle the same for a non-profit residency as for a self-employed residency.

However, in order to create a company or start a business, additional financial means will probably be needed, for example, if I am an IT specialist, I will need a computer and software, although I work from home; if I am a baker, I will need to rent premises for a few months until I start producing, as well as licences, building work, etc.

Therefore, for self-employed residency, we will need the amount required for the non-profit residency and we will have to add the amount of money that we will need to start up the business we want to create.

With these financial means, we will be able to make the modification and change from a non-profit residency to a self-employed one.

Of course, it is also necessary to have a project with which to demonstrate that I am going to create a business, for which a certificate of viability of the project is needed, which is granted by the authorities authorised to do so.

Conclusion

In short, if you need help or advice to change your non-profit residency to a self-employed residency, you can contact us and we will be happy to help you.

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