INCORPORATE IN SPAIN
If you wish to perform an economic activity in Spain, there is a wide range of possibilities capable of meeting with your needs. Depending on the characteristic of your investment, we could either choose a Limited Liability Company (Sociedad Limitada) or instead do it as a freelance (autónomo). Click here for more information of the Spanish autónomo.
Though it is important to mention, that in protecting the owner(s) from personal liability in the event of bankruptcy, the figure of the LLC is the most suitable vehicle.
What are the steps in forming a Company?
Here we will consider the steps on how to set up a LLC, and most importantly you will find information and guidance to begin the process immediately:
1. Company’s Name
First of all, we will need to obtain a certificate (called a no-name coincidence certificate) from the Registro Mercantil Central, in order to verify that the company name you want to use is not already taken, and it is reserved to your name.
Lets Continue, the applicable Spanish legislation currently requires that any individual or legal entity with economic or professional interests in Spain, or involved in a relevant way for tax purposes, must hold a tax identification number (NIF for legal entities), or a foreigner identity number (NIE for individuals). In particular it must be applied for when a foreign investor makes a direct investment in Spain, so EVERYONE who will be a shareholder of the NEWCO (New Company) or director – even if you are not full time or tax resident – you are required to have a number.
LEQUIDY handles this management for you, just go to our online Boutique to read how to start applying for your NIE online!
2. NIE Number
3. Bank Account
Once you have done the steps mentioned above, you will need to open a company’s bank account and subsequently deposit 3.000 EUR –minimum founding capital – at a Spanish entity.
If you wish to do this remotely, at LEQUIDY+click we do it for you with a POA. To find out more go to open a bank account in Spain.
Now reached this point, we are set to arrange an appointment at the Notary’s office in order to sign the establishment deed. Within our scope of services we offer to sign the documentation on your behalf, so you avoid having to travel to Spain. Learn more of our products and services at LEQUIDY+click.
4. Notary’s / Establishment Deed
5. Social Security
The last step of the LLC registration process, in parallel to getting the registration of the activity done, the Company’s director (Administrator) will need to register at the Spanish social security (Tesoreria General de la Seguridad Social), and pay approximately 300 EUR/ month (amount depends on your personal characteristics, so contact us to find out more).