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Requirements — company structure

Can you apply for Spain's DNV as a company owner or director?

Yes — and the 2023 Startups Law changed the rules significantly. The old 25% shareholding cap has been removed for directors of operating companies. Here is exactly how it works, and what you need to evidence.

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Removed
25% cap for directors of operating companies (2023 Startups Law)
€2,849
per month personal income required — not company turnover
Still
25% cap applies to patrimonial (holding/investment) entities
20%
maximum income from Spanish clients — applies to your company

Understanding your situation

What "company owner" means in the context of the DNV

Spain's Digital Nomad Visa is, at its core, about your personal income from remote work — not your company's structure. Being a director or shareholder of a company matters to the DNV assessment in two specific ways: first, it determines how you channel your income (salary and dividends from your company), and second, it affects your eligibility for Beckham Law, Spain's preferential tax regime for qualifying workers.

The DNV does not require you to be a salaried employee of someone else's company. Many successful DNV applicants run their own limited companies — UK Ltds, Irish Ltds, US LLCs, and equivalent structures in other jurisdictions. The question is whether your structure meets the specific requirements introduced by Spain's 2023 Startups Law.

The key distinction is between an operating company and a patrimonial entity. That distinction determines whether the old 25% cap applies to you. Most freelancers and consultants working through a personal service company have an operating company — and are therefore unaffected by the cap.

Operating companies — post-2023 reform

Directors of operating companies: the 25% cap is gone

The 2023 Startups Law (Ley de Startups) made a material change to the DNV's company director rules. Before this reform, any director who held more than 25% of their company's shares was excluded from the DNV. A sole director with 100% shareholding — the typical profile for a UK Ltd freelancer — was shut out entirely.

The 2023 law removed this cap for directors of operating companies. An operating company is legally defined as one where more than 50% of its assets are deployed in active business operations. If your company exists to deliver consulting services, software development, creative work, professional advice, or any other active commercial activity — and its assets primarily reflect that business — it is an operating company.

If you are the sole director and 100% shareholder of a UK Ltd, Irish Ltd, or equivalent operating company, you now qualify for the DNV as a company director. You can hold any percentage of the shares. The old cap does not apply to you.

UK Ltd directors

Very common DNV applicant profile

A UK Ltd used for active consulting, development, or professional services work is an operating company. You can hold 100% of the shares and still qualify. You must evidence personal income of €2,849/month — typically salary plus dividends drawn. Company accounts and bank statements are the core supporting documents.

Irish Ltd directors

Same operating company rules apply

An Irish Ltd conducting active business — common among tech and professional services workers in Ireland — qualifies under the same operating company rules. Evidence of personal income drawn (salary plus dividends), supported by Irish company accounts and personal bank statements showing the payments received.

US LLC members

Treated as self-employed in most cases

A US LLC is generally treated as a pass-through entity for Spanish tax purposes, meaning members are typically treated as self-employed (autónomo). Evidence of distributions and company income is required. US LLC applicants should take specialist Spanish tax advice before applying — the treatment of LLC income under Spanish tax law has specific nuances.

Patrimonial entities — the cap still applies

Holding companies and investment vehicles: different rules

The 2023 reform did not remove the cap for all companies. Patrimonial entities — companies where 50% or more of assets are not in active business use — remain subject to the original 25% shareholding cap. If you hold more than 25% of such a company, you cannot currently use your director status to qualify for the DNV.

What counts as a patrimonial entity?

Under Spanish tax law, a sociedad patrimonial is broadly any company where the majority of its assets are passive rather than active. Examples include:

  • Pure investment holding companies — companies that primarily hold shares, bonds, or other financial instruments rather than conducting trading activity
  • Property investment companies — companies that own residential or commercial property as passive investments (rental income), rather than as part of active property development or management
  • Family wealth holding companies — structures used to hold and manage inherited or accumulated wealth across generations
  • Shell companies with no active trading activity

If your company exists primarily to hold investments or property rather than to conduct an active business, the 25% cap still applies to your shareholding.

Not sure which category your company falls into?

The operating/patrimonial distinction is determined by the composition of your company's balance sheet, not just what the company does. If you are uncertain whether your company qualifies as an operating company or patrimonial entity, your case manager will review your company accounts and advise before you submit your application.

Income evidence

Evidencing €2,849/month as a company director

The single most important thing to understand is that the DNV requires you to demonstrate personal income of at least €2,849/month — not company turnover, not gross revenue, not what the company invoices its clients. The Spanish authorities want to see money actually flowing to you, the individual applicant.

What counts as personal income for DNV purposes

As a company director, your personal income typically comes from two sources: a salary paid by the company, and dividend distributions. Both are accepted for DNV income evidence. What the authorities require is documentation showing you actually received these amounts:

  • Payslips for the salary component — typically the last 3–6 months
  • Dividend vouchers or board minutes authorising dividend payments
  • Personal bank statements showing the salary and dividend payments received
  • Company accounts (at minimum the most recent filed accounts) confirming the business generates sufficient income

The typical UK Ltd director profile

Many UK Ltd company directors pay themselves a relatively low salary (often around the National Insurance threshold — approximately £12,570/year) supplemented by dividends. For DNV purposes, you must demonstrate that the combined total of salary and dividends drawn consistently meets the €2,849/month threshold.

If you draw dividends irregularly or in large annual lump sums rather than monthly, your case manager will help you present this in a way that demonstrates the income meets the threshold over the relevant period. Consistent monthly drawings are easier to evidence than irregular distributions — if you have flexibility, regularising your dividends before applying strengthens your file.

The 20% Spanish client rule

The DNV explicitly requires that no more than 20% of your company's total income comes from Spanish clients or sources. This applies to the company's income — not your personal income. If your company currently has Spanish clients and derives revenue from them, this is acceptable provided it stays below the 20% threshold. The Spanish authorities will review your company's client composition as part of the assessment.

💡

Beckham Law for company directors — significant post-2023 reform

The same 2023 Startups Law that removed the 25% cap also opened Beckham Law (Régimen de Impatriados) to directors of operating companies. Previously, directors with more than 25% of shares were excluded. Now, qualifying directors of operating companies may apply for Beckham Law's 24% flat tax rate on qualifying income for up to six years. This is a separate service from our DNV package — speak to a Spanish tax adviser. You must apply within 6 months of Social Security registration.

ENISA-certified startups

Startup certification — an alternative route to cap exemption

Directors of companies certified by ENISA (Empresa Nacional de Innovación) as qualifying startups under Spanish law are explicitly exempt from the 25% shareholding cap, regardless of whether the company is classified as operating or patrimonial. ENISA certification indicates that the company has been assessed as an innovative startup by Spain's state innovation financing agency.

In practice, most foreign company directors applying for the DNV do not need to pursue ENISA certification — they already qualify under the operating company reform. ENISA certification is more relevant for companies incorporated in Spain seeking other innovation-related benefits. However, if your company has ENISA certification or equivalent startup recognition, your case manager will factor this into your application.

The ENISA route is a relatively narrow category. Do not assume your company qualifies for ENISA certification without specialist advice — the criteria are specific and the certification process is separate from the DNV application.

Questions & answers

Company owner DNV requirements — FAQ

Yes — provided your company is an operating company (one where more than 50% of assets are used in active business operations). The 2023 Startups Law removed the 25% shareholding cap for directors of operating companies, meaning you can hold 100% of your company's shares and still qualify. The old 25% cap only remains for patrimonial entities — companies where 50% or more of assets are passive investments or property rather than active business assets.
An operating company is one where more than 50% of its assets are used in active business operations — delivering services, selling products, or otherwise conducting real commercial activity. A patrimonial entity (sociedad patrimonial) is one where 50% or more of assets are passive: investment portfolios, property held for rent, or other non-trading assets. For the DNV, the 25% shareholding cap was removed for operating companies by the 2023 Startups Law. Patrimonial entities are still subject to the original 25% cap. A UK Ltd or Irish Ltd used for freelance consulting work is almost always an operating company.
A UK Ltd used for active business — freelance work, consulting, software development, professional services — is almost certainly an operating company, meaning the 2023 Startups Law reform applies and you can hold any percentage of the shares. You will need to evidence your personal income (salary plus dividends drawn) equalling at least €2,849/month, supported by company accounts, payslips, and bank statements. The company's income must also comply with the 20% Spanish client rule — no more than 20% of total income can come from Spanish clients.
You must demonstrate that you personally receive at least €2,849/month from the company. This means providing payslips (salary component), dividend vouchers or board minutes authorising dividends, personal bank statements showing payments received, and company accounts confirming the business generates sufficient income. Company turnover alone is not acceptable — the Spanish authorities need to see the money actually flowing to you personally. If your personal drawings are variable, six months of statements are stronger than three.
ENISA (Empresa Nacional de Innovación) is Spain's state innovation financing agency. Companies certified by ENISA as qualifying startups are explicitly exempt from the 25% shareholding cap regardless of whether they are classified as operating or patrimonial entities. If your company has received ENISA certification, or qualifies as an innovative startup under Spanish law, the cap does not apply. This is a relatively narrow category — most freelance company directors qualify under the operating company reform instead.
Yes. A combination of salary and dividends is accepted as income evidence for the DNV, provided you can document both components clearly. You will need payslips for the salary portion, dividend vouchers or board minutes authorising dividends, and personal bank statements showing these payments. The total of salary plus dividends drawn must consistently meet or exceed €2,849/month. Dividends that are declared but not drawn are not counted — what matters is income actually received into your personal account.
The 25% cap applies only to directors of patrimonial entities — companies where 50%+ of assets are passive investments or property. If your company is an operating company conducting active business (services, consulting, development, trading), the cap was removed by the 2023 Startups Law. If your company is an investment holding vehicle, a pure property company, or a family wealth holding company, the cap still applies. If you are unsure which category your company falls into, your case manager can advise based on your company accounts.
Trust structures introduce additional complexity for DNV purposes. Where shares are held in a discretionary trust and you are not the registered owner of the shares, you may not be treated as a 'director' under Spanish law in the relevant sense, and evidencing personal income from the company is more complex. This is a specialist area and your case manager will need to understand the structure in detail. There are no blanket rules for trust-held companies — each case is assessed individually.
Post-2023 reform, directors of operating companies can qualify for Beckham Law (Régimen de Impatriados), which provides a flat 24% tax rate on qualifying income for up to six years. Previously, directors with more than 25% shareholding were excluded. This is a separate service from our DNV application — you will need a qualified Spanish tax adviser to apply for Beckham Law. You must apply within 6 months of registering with Spanish Social Security. This window is strictly enforced and cannot be backdated.
Yes. The DNV requires that no more than 20% of your company's total income comes from Spanish clients or sources. This is calculated across the company's income, not your personal income. If your company already derives some income from Spanish clients (which is permitted), you must ensure this does not exceed 20%. If you are concerned about the 20% threshold, discuss it with your case manager before applying — the Spanish authorities will review your company's client base and income sources as part of the assessment.
No. You do not need to register your foreign company in Spain to qualify for the DNV. Your company remains registered in its home jurisdiction (UK, Ireland, USA, etc.). What changes is your personal tax residency — once you are in Spain for 183+ days, you file Spanish IRPF tax returns and may need to declare your company's income and any foreign accounts over €50,000 via Modelo 720. You are not required to establish a Spanish company, though some directors choose to do so eventually for other reasons.
US LLC members are generally treated as self-employed (autónomo) for Spanish tax purposes, since a US LLC is typically a pass-through entity. The same income threshold applies — €2,849/month personally received. Evidence comes from LLC distributions, bank statements, and ideally CPA-prepared accounts showing the LLC's income. The 20% Spanish client rule applies to the LLC's income. US LLC members should take specialist Spanish tax advice before applying, as the treatment of LLC income under Spanish tax law is a nuanced area.

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