What you do need to start a business in Spain?

What you do need to start a business in Spain?

Starting a business may be risky, and indeed it is. On the other hand, knowing the steps to be taken will be helpful in our way to start a company in Spain:

1. First decisions: choose what type of company you want to create, and what tax system is more convenient. It is also necessary to pick up a name so it can be registered at “Registro Mercantil” (Spanish for “Business Register”).

2. Next step would be to create a bank account on behalf of the company and to deposit social capital. For “sociedades anónimas” (Spanish for ”joint-stock companies) the minimum legal deposit is 60.000,00 €; for “sociedades limitadas” (Spanish for “limited partnerships”) the minimum is 3.000,00 €

3. Once the company has a bank account, you can attend to a notary public with both the bank certificate and the Business Register certificate. The later will prove that the legal subject does exist.

4. Take a copy of the notary deed to the Tax Office so your company can be registered as tax subject and to obtain a provisional NIF (Spanish for “corporate ID number”).

5. Once you have the company deed, you must pay a local tax called “Impuesto de Actos Jurídicos Documentados”, which, in spite it is usually exempted from payment, it must be submitted to the local tax office anyway.

6. The next step would be to submit the company deed to the Business Register.

7. While it is being registered at the Business Register, you can also start procedures at the city hall to obtain, in case it is necessary, a license.

8. A Minutes Book and a shareholder ledger would be also compulsory.

9. The last step would be to pick up the deed fro the Business Register and to go back to the Tax office to collect your definitive NIF id.

*Important, if you are a non-EU citizen, you must go to some previous steps, including some arrangements at the consulate.

In Lexington we can help you. We have a team of experts who could advice at any step of the way, so your company can enter the market with no difficulties.

“You may be disappointed if you fail, but you are doomed if you don’t try” 

Beverly Sills

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