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

All posts, Company creation process Leave a comment   Published on par Jonatan Carbonell

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.

1. Obtaining the NIE

First, you must obtain your identification number as a non-Spanish citizen called NIE. The NIE will allow you to open a bank account, to work and create a business. This number can be obtained very quickly (generally within one day).

2. Certification of company name

Then, you must prepare an application documents to certify the company name.  You are required to provide with five different possible names for your future business.

In the next following four days, a document of the company will be drawn up, certifying that you are the only person to own this particular company name.  This document will be necessary for the constitution of the company and will allow you to register your company in the Mercantile Register of Madrid.

3. Opening a bank account for the company

Once you have the certificate of the company name, the next step is  opening a bank account in Spain. This account must wear the name of your company. When creating a SL, the minimum capital required is € 3006.

4. Going to the notary

This step is really important when setting up a business in Spain. You will determine the structure of the business and the status of the owners.  At this time, you will be confronted and will have to provide answers to the following kind of questions: What is the degree of participation of owner, who has a decisional power, what would happen if one of the partners wants to sell its stake …

The specification of these judicial elements is very important to set up a business. Therefore, we advise you to contact a Spanish accounting firm to help with the legal part.

5. Registering

The fiscal number CIF (VAT) of a company is essential to its constitution. This number may be obtained within 3 days. Then we will declare the taxburden of the company in Spain, and communicate the activity that the company will develop in Spain. Before starting a business, it will also be important to establish a fiscal strategy.

6. Statement by the employer

The last step in starting up your business is to declare the manager of the company and therefore the employees of the company.

7. Timeline

The time period necessary to create a company is short, especially if you call upon the services of an accounting firm.

You will only be required to spend Spain one day.he whole procedure.

Considering that application of the NIE is made on day 1

  1. Obtaining the NIE: Day 1
  2. Getting the certification of the application: Day 5
  3. Opening a bank account of the company: Day 5
  4. Appointment at the notary: Day 5
  5. Getting the CIF: Day 8

At this time, your company may start!

Our experienced accounting firm can attend every step of this process and help you to create your company. Thanks to our multilingual team, we can guarantee the presence of an expert in your native language for every appointment, advising you on every step. Do not hesitate to contact us !

Published on par Jonatan Carbonell

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