Spain is a great country to move to and start a business in. You can settle in a large city or small town and launch a business for your community or even for the Spanish, if you are well acquainted with their lifestyle and preferences.
The procedure to open a company is not complicated; however, there are a few key aspects that, if you don’t overlook, you will be able to enjoy your life as a foreign entrepreneur in Spain in no time. So, find out below how to do that.
Make sure you meet the requirements to become a foreign business owner
You cannot start the procedure for company incorporation in Spain if you do not have a NIE, or foreign identification number, especially if you have just moved there. The procedure is not complicated, but it can be lengthy, so you may want to consider professional help to get you started.
If you are settled in Spain, you probably have it, so you can just move on to the next stage. But what is the next stage? Ensure that you meet the requirements to open a company. These are:
- a local address that you can use as a registered address for the business;
- the amount of money as proof of share capital.
For reference, if you decide on a private limited company, you need at least 3,000 euros.
Start gathering and drafting the documents for submission to the Trade Register
If you have secured the address and money, you can move on to the next step, which is preparing the registration papers. For this, you will need:
- your passport and residence permit;
- the trading name reservation form (you can obtain that from the Companies Register in about 2 days, if you apply online);
- the bank statement indicating you deposited the money.
Following that, you also need to have the company’s bylaws drafted. You can do that at a public notary’s office. At the same time, apply for the tax identification code for the enterprise with the Tax Agency.
Submit the application file to the Commercial Register
All the documents must be submitted to the local office of the Commercial Registry. There are two ways to do that:
- you can file them online;
- you can send them via postal service.
The first option is preferred, because the Spanish authorities move faster this way.
If the papers are in order, you will get the Registration Certificate in a few days.
Registration with other authorities
Even if you are eager to start, you must not forget to complete two more tasks. The first one is to register for employment, and the second to obtain any business license you will need to operate lawfully.
In conclusion, these are the steps you need to consider if you want to open a company in Spain as a foreigner. The entire procedure can be completed in about 3 to 4 weeks, so in a maximum of one month, you can have your own enterprise up and running.
This content is provided for informational purposes only and is not a substitute for professional advice. AFP editorial staff were not involved in the creation of this content.
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