A warm cheer to your brand new exciting company in Spain! With Spanish Notary Online the whole process becomes a lot faster and safer for you. In this post, I detail the main steps taken to set up a company in Spain and explain some of the peculiarities that may interest foreign founders.
Step 1: Decide how you want to set up your company
Spain has a variety of company structures; however, the two most frequent for foreign investors are:
Sociedad Limitada (SL)
The limited liability company is a favourite form for many businesses due to its lower capital requirement (minimum deposit €3000) and simpler administration. Even now, after the last law change, you can open a bank account with no capital requirement, so everything is faster.
Sociedad Anónima (SA)
The public limited company requires a higher minimum share capital (€35,000) and has a more complex structure, making it best suited for larger companies.
Step 2: Get your NIE (Foreign Identification Number)
If you are not a resident, as well as needing a Spanish NIE to carry out business activities, all other shareholders or directors will also require personal Spanish NIEs. With Spanish Notary Online, you can get your NIE as we will include that in the Power of Attorney you have to grant us.
Step 3: Reserving your business name
Spanish Notary Online will help you to verify if your company name is available in the Central Mercantile Registry. If validated, we reserve the name on your behalf.
Step 4: Open a company bank account
With your reserved company name and NIEs, you’ll need to open a dedicated bank account for your new company in Spain. Spanish Notary Online can assist you with finding the right bank and navigating the account opening process.
Step 5: Draft your articles of association
This document outlines the fundamental rules and regulations governing your company, including:
- Company name and type
- Registered office address
- Share capital and distribution
- Management structure
- Decision-making processes
Step 6: Sign the public deed of incorporation
This is the official act of incorporating your company. Spanish Notary Online will facilitate this process by preparing the necessary paperwork and scheduling an appointment with a notary public in Spain. We can even act as your authorized representative during the signing, eliminating the need for you to travel to Spain.
Step 7: Register your company
Following the signing of the public deed, Spanish Notary Online will handle the registration of your company with the Company House Registry of Spain and the Spanish Tax Agency. This includes obtaining your company’s Tax Identification Number (CIF) and VAT number (if applicable).
Step 8: Register with Social Security
Spanish Notary Online can also guide you through registering your company with the Spanish Social Security system. This is crucial if you plan to hire employees in Spain.
Spanish Notary Online: Your partner in Spanish company incorporation
At Spanish Notary Online, we understand the complexities of incorporating a company in Spain, especially for non-residents. We offer a comprehensive service guiding you through every step and ensuring a smooth and efficient process. In addition to the above, we can also assist you with:
- Apostille and legalization of documents
- Obtaining company permits and licenses
- Ongoing legal and tax advice
Ready to get started?
Let Spanish Notary Online be your trusted partner in launching your business in Spain. Contact us today:
- Website: Spanish Notary Online
- Email: f.villalba@spanish-notary.com
- Phone: +34 611 422 933