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How can I capitalize the sum of my unemployment benefit?

You may capitalize the sum of the benefit if you have yet to receive at least 6 months worth and prove you are going to begin a professional activity as a self-employed worker or working partner in a cooperative or employee-owned company.

What documentation needs to be submitted?

To prove the professional activity, you must provide a report explaining the investment project to be undertaken and the activity to be developed as well as any other documentation proving the feasibility of the project.

If you join a cooperative or employee-owned company as a partner:

  • If the cooperative or company was already in existence: you must provide a document certifying you have requested partnership in it and the conditions of said entry.
  • If newly-created: you must also provide the draft articles of association for the company.

The one-time payment will be conditioned on the submission of the resolution to admit you as a partner or the actual registration of the company with the corresponding register.

When does the application need to be submitted?

The application for payment of the benefit due to cease of activity must be prior to the date of entry in the cooperative/company (or its constitution) or that of the start of activity as a self-employed worker. This start date is considered to coincide with the date the worker registers with the Social Security system.

Recognition of the right to the benefit and payment

The processor will recognize the right within a period of 30 days after the application for the one-time payment, after considering the feasibility of the project.

The one-time payment will be made once for the amount corresponding to:

  • Cooperative: capital contributions including the entry fee.
  • Employee-owned company: the acquisition of shares or stakes in the capital needed to become an employee partner.
  • Self-employed worker: the necessary investment to develop the activity including start-up taxes.

What are the payment methods?

  • Payment of 100% of the total amount:
    • As a self-employed worker
    • To make a contribution to the social capital of a new constitution or constituted within a maximum period of twelve months prior to the contribution, provided that they have the effective control of the same, and to exercise in it a professional activity. In this case, the contribution of the self-employed person to the Social security that generates the right to the allowance for cessation of activity is not paid (100% economic benefit).
  • Monthly payment of the benefit in order to subsidize the self-employed worker’s contribution to the Social Security system (100% contribution) until the full sum of the benefit has been consumed.

What do you have to do once you’ve received the benefit?

  • Begin the activity for which the benefit was granted within a maximum of one month or prove that it is in the starting phase by submitting an investment report.
  • Register with the Social Security system.

Is the one-time payment compatible with other assistance?

Yes, it is compatible with other assistance to promote self-employment or the constitution/inclusion in cooperatives or employee-owned companies.

Any sums received not used to undertake the activity for which the benefit was granted will be considered improper payments.