Some banks and management consulting firms offer special packages to help you set up the details of opening a new branch in Spain. Sociedad Limitada (SL) is the most popular legal entity for companies in Spain. SL is also popular with foreign investors and as a parent company due to its limited liability. The creation of SL is complex and therefore includes a business lawyer. It has a minimum capital investment of at least 3,000 euros. You can set it up with a single shareholder or several shareholders, all of whom have unlimited personal liability in the event of the company`s bankruptcy. It is the Spanish limited liability company of reference. It`s free to create an association, but you`ll need at least €0,000 in capital to do so. With a foundation, anyone can donate to the cause (they don`t need to be members) and committee members can be paid for their work, just like in a normal business. Foundations that generate a turnover of more than €2.4 million or employ more than 50 people must be subject to an annual external audit. In this case, it would be much better if you could contact one of our business lawyers so that we can analyze the situation more carefully, because there is no simple answer and the process is different depending on the exact situation. To start a business, you must first have the right to live and work in Spain. The Spanish corporate culture can be very different from that of your home country.
For example, a more relaxed approach can lead to deadlines being exceeded and meetings being extended late. That is, the perception of Spain as an old-fashioned or twee corporate culture is not quite correct. Whether you are a foreigner or a local citizen of Spain, anyone is allowed to start your business in the country. The only requirement is that you are a legal resident. Nevertheless, the process can become more complicated depending on the country of origin. With a number of different business structures, starting a limited liability company can be both time-consuming and expensive. This is mainly due to the fact that the Spanish government imposes minimum financial requirements on those who wish to settle in Spain. You choose one or the other based on the specific business idea.
You must open a bank account under your company name using your company`s tax number and the certificate that confirms your company`s name. You need to deposit the investment you need to start your business (at least €3,000) and get a certificate from the bank proving that you have made the investment. This helpful guide covers everything you need to know about starting a business in Spain. This includes information about corporate culture, the main types of businesses, and the most important insurance and tax considerations. This document collects the essential information that determines the operation of a business. In other words, it contains all the rules that apply to your business. Your lawyer will draft the articles of association or articles of association of the company in Spanish, known as “Estatutos Sociales”. Once this document is ready, you will receive the name of the company of your choice from the commercial register and invest the minimum share of the capital (if necessary). The owners of the company sign the statutes and statutes before the Spanish notary.
After receiving your Spanish tax identification number, you will need to select a business form. There are many different business structures for you to choose from, and Spanish legislation is already becoming difficult here. There are two main categories. The first is for the self-employed, the second is a limited liability company. Starting a business in Spain as a foreigner can leave you with many questions. After all, there are so many things you need to learn about local regulations, taxes, costs, and visa requirements. This guide is aimed at expats and foreigners who are willing and willing to start a business in Spain. We`ll cover: Hello, I`m trying to open a plant store in Valencia and need help getting started. What visa do I need to start the process? (4) In the case of other activities not included in the prior certification, it is necessary to accredit the list of authorisations and/or licences required for the start of the activity, indicating the progress of the procedures for obtaining them, including, where appropriate, the applicant certificates of the bodies.
As your business grows in Spain, you are responsible for ensuring that from time to time more people work for you than you or other partners. Starting a business is always a challenge, but having staff on staff will certainly help. When it comes to employing people, you need to make sure that your lawyer advises you on the different types of contracts – indefinite (indefinite) or temporary (temporary) – but also on recruitment and dismissal procedures. You will be happy to know that Spain offers special visas for those who want to start a business. Spain is the perfect place for foreigners from all over the world to start their own business. Excellent infrastructure, internationally renowned talent and an entrepreneurial ecosystem make Spain a privileged choice. Having a business idea is great, but starting a business in Spain isn`t as easy as it sounds. In this guide, we discuss the most important steps and answer frequently asked questions. This guide covers everything you need to know, from starting a business to accounting and bookkeeping. For expats, starting a business in Spain can open up many opportunities. Find out what kind of business structure is right for you and how to get started.
This applies to a company that has innovative ideas and technologies as a base of operations. The requirements will be strict and the business idea must be convincing enough to get a residency that has additional benefits when working in the area. In addition, you need to clearly define the activity of the company. Our advice here is to be as open as possible: present all the activities related to what you are going to do. This is a crucial step. What for? Because it avoids having to go back to the notary in the future when you grow your business or transform the main activity. For foreigners from abroad, there are stricter rules and longer waiting times. But recently, the Spanish government passed new startup laws to make the process easier for non-resident investors. From now on, non-resident investors are no longer required to receive the NIE number. Getting a Tax Identification Number (TIN) is enough to start the bureaucratic process. It is important to use the Spanish name of your company at the address of the registered office. A registered postal address is essential to set up a business in Spain.
Our experts are ready to offer you a solution. If the business idea you want to develop is innovative and technology is at the heart of the operation, you need to apply for the entrepreneur visa. Even though the requirements are much stricter and no business idea is valid to maintain the residence; It offers many advantages. The cheapest way to start a business in Spain is to start a business without its own legal personality. You can do this as a sole proprietor (individual empresa) or in partnership (sociedad civil). With these agreements, there are no minimum investment requirements and you do not have to go through many of the formalities required when setting up a limited liability company. Spain enjoys a lot of freedom when it comes to starting a business in Spain. The country does not discriminate whether you are a foreigner or a local. The fact that everyone is allowed to run a business makes it even more popular in the European region. However, you must be a legal resident before venturing into your business. The process can get a bit complicated for foreigners depending on the country of origin.
We have a wide range of services related to legal aspects in commercial matters, such as real estate transactions or employment issues. Our team is always available to provide you with accurate advice and guidance on how to protect your business interests, including commercial contracts. We will ensure that you are aware of the legal requirements of the Terms and Conditions as well as any new clauses required by law. They are both set up in the same way, and you must: create a partnership agreement and sign it before a notary, register with the tax authorities, register for social security, apply for licenses, and you must also use the words Sociedad Civil on behalf of your company (if you have a partnership contract). Social security contributions are paid monthly and paid by the employer. So, if you own a business, you will have to pay contributions for your employees through their payroll. When you register a company in the Spanish Commercial Register, you will receive your certificate so that you can carry out all kinds of business activities in Spain. The digital certificate is created to verify identity using an identity card or passport. It is an online identification document that allows you to carry out all the procedures, including the completion of the specific document and the signature, with the Spanish tax authorities via the Internet. The rules may vary from region to region, so it`s a good idea to check in advance the national regulations and rules of the region where you want to set up your business.
There are three main types of legal forms in Spain. You can start as a corporation as a sole proprietor, partnership, or limited liability company. Did you know that 99% of Spanish companies are small and medium-sized enterprises? By the way, these small businesses are called Pymes in Spain. The reason they are so popular is due in part to government incentives and corporate tax cuts. If you want to start a small business in Spain, check these incentives with your lawyer.
