For UK and other EU residents, there are no restrictions to working or setting up your own business in Spain, other than ensuring you comply with the relevant local regulations and tax criteria. There are several options that you could look at to find work and fund your life in Spain.

One of the most popular ways for British people to support their life in Spain is by using their property for business purposes when they are not using it – renting it out as a holiday let or attempting to set it up as a profitable B&B business.

Another option that many expats choose is to set up their own company – either through buying a franchise or starting from scratch. This approach can be challenging – but if it’s something that you have experience in, it can be a good option. What is important though is to remember that, even without considering the economic differences between the UK and Spain, as a foreigner setting up a business in Spain can be difficult – you will need to consider tax and employment regulations, and of course the language barrier!

Many of the Brits who want to set up their own companies in Spain are dreaming about setting up a bar, restaurant or hotel on the beach – often without considering the logistics involved with this. If this is you, you need to begin with the commitment and adequate research necessary. Have you thought about the competition? What will your clientele be? How seasonal will your business be? How will you manage staffing and suppliers? How many hours are you realistically prepared to work each day, will you be happy working weekends? It’s when you truthfully answer questions like this, you will have a better idea as to whether life as a pub landlord or restaurateur in Spain is right for you.

Another option that many expats choose is to set up their own company – either through buying a franchise or starting from scratch.

You could also decide to create a business online, offering your skills as a freelancer internationally. Utilise a skill that allows you to work on projects based at home – as a writer, editor, programmer, graphic designer, project manager, as an accountant, or in telesales, for example. This can give you the chance to take on as much work as you need and/or want.

However you choose to make money and support yourself in Spain, always remember to research the demand in the market and find out how difficult it will be to compete with everyone else looking for work – especially those nationals who speak the language and understand the job market. It’s important to remember that Spain has much higher unemployment rates than the UK, so the job market is already fairly saturated.

You may find it a good idea to offer your skills as an online freelancer, and find work where you can utilise one or many of your skills.

The best thing you can do is spend a lot of time considering this and conducting adequate research before you leave the UK – as you will need to get a handle on income streams and tax affairs. The best (and safest!) way to do this is through a recommended financial advisory firm.

Get in touch with an independent Financial Advisor

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