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Starting up a company in Spain: understanding Spanish key words

Starting up a company in Spain: understanding Spanish key words

vocabulary-creation-business-spain-company-stepsWhen starting up a business in Spain, you will be confronted to several specific Spanish words. This article will enlighten you about those, giving you a definition and the French equivalent.

NIE (Número de Identificación de Extranjeros)

The NIE is the identification number attributed to every foreigner living in Spain. Recent Spanish legislation makes it compulsory for anyone selling or buying property, opening a bank account or creating a company in Spain to have a NIE. Everyone can get this NIE, whether European or not. It is composed of 8 or 9 characters and starts with an “X” or a “Y”.

euros coin and a calculator

Taxation in Spain: the VAT

euros coin and a calculatorIn order to start a business in Spain you have to get a CIF (Código de Identificación Fiscal). This number is the tax identification number of your company; it is the Spanish equivalent of the VAT.

This number enables you to undertake economic and business activities in Spain and throughout Europe.

You are not obliged to include VAT on customer bills for a company which is established in the European Union, and conversely, they will not charge you if you are registered in the VAT register (VIDAS census).

Why may the global crisis be a great opportunity to set up a company ?

Why may the global crisis be a great opportunity to set up a company ?

undertake- startup business-It is a fact, the word crisis uses to bring essentially pejorative ideas to our mind. But, we must instead consider the current crisis as a real opportunity for new-born entrepreneurs.

Lets list some of the main advantages of undertaking in Spain during the recession period.

  • The main point is the lack of job opportunities. Since a crisis often generates an increase of the unemployment rate, there are a lot of available young or experienced workers over the market. A company may as a consequence be able to have a large choice when recruiting and so recrute high-skilled workers for lower cost. In Spain, the minimum wage is for example twice lower than the French SMIC.

What are the main steps to set up a business in Spain?

What are the main steps to set up a business in Spain?

create-a-business-in-spain-stepsCreate a business in Spain, enlightenment.

In Spain, starting up a business is now very simple. Indeed, in recent years, the government has simplified the process. When using the services of an accounting firm, the creation of your company can be effective within less than 24 hours with the “Rapido Pack” or 8 days with the “Personalized pack”.

Here are the different steps to set up a business in Spain.