Global Company Formation & Registration: A Comprehensive Guide
Expanding your business into international markets is an exciting opportunity, but it requires careful planning and a thorough understanding of the...
Digitalizing public administration and financial entities makes it much easier for companies to create in Spain. Requirements may vary depending on the type of business or the autonomous community, but the first steps are common to all cases.
First of all, you need to create a business plan. It should detail the nature of the company, its main features, and sources of financing. It should also include the capacity to generate employment and assess the viability of the project in general.
This is a very important step. A business plan sets out in detail what type of company you want to run. It is also a requirement that can be requested by any administrative body.
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After you have designed your business plan, you must choose the legal form of your business. The choice of legal form will depend on the activity and sector of your business. It will also impact the number of partners, the financial needs, and the liability of the partners or tax aspects.
There are different legal options for setting up a business in Spain:
The Chamber of Commerce specifies that it is necessary to open a unique and exclusive bank account for the company where the capital stock will be deposited. A certificate must be submitted stating the deposit in the bank, the details of the company's partners, and the contributions made.
A bank account is very important for your company. On the one hand, most banks have functions that will facilitate operations, such as mass payments and association with accounting services. In addition, there are more specific financing possibilities, such as credit lines and other more advantageous conditions.
The requirements to open a company account in a bank in Spain, whether the applicant is a legal or natural person, are:
After completing the registration process, the client can (directly) contract the debit card or request one of the available financing promotions. Once they access online banking, they will also be able to access other products and services. These include insurance, foreign trade, commissions for transfers, credit cards, etc.
At this point, you must have obtained both the bank certificate and the Commercial Registry, which indicates that the company name is unique and has not been previously registered. Now you must go to the notary to draw up the company deed. The company bylaws and the identity documents of the company's partners are required.
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Once you have completed these procedures required for the incorporation process, you must get up to date with the Treasury. In this way, you can register for the Tax on Economic Activities, presenting form 036. Tools such as Sage 50 can be of great help in organizing the business and keeping it up to date with everything that is required to be presented to the Treasury.
The NIF (Tax Identification Number) must be processed within the month following the date of incorporation of the company. This is a mandatory requirement for individuals and legal entities that carry out commercial activities in the European Economic Area. Without a NIF, invoices cannot be issued and received.
Finally, you will need to go to your local Social Security office and register your new company. If you decide to register as self-employed, the special regime known as RETA (Special Regime for Self-Employed Workers) will apply. You will need to submit forms 036 or 037, your NIF, passport, and the corresponding IRPF (Personal Income Tax) form. This procedure is essential for your business to be officially registered and in compliance with the regulations.
At H&CO, we support your business's entry into Spain through our subsidiary, Corpag, offering comprehensive entity management services. Our expert team provides seamless international registered agent services tailored to your cross-border needs, ensuring your business stays compliant with local regulations. We handle legal correspondence, tax notifications, and government filings efficiently, keeping your operations in good standing. With Corpag’s global expertise, we safeguard your privacy and simplify business management across jurisdictions.
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