If you are interested in doing business in Spain, you must be aware of the different possibilities to enter the Spanish business market as well as of main principles of doing business in Spain. Spain remains one of the most popular places to start a business.
So, is it easy to start a business in Spain? What are the requirements to start a business in Spain? Before you start doing business in Spain, all foreigners with financial affairs in Spain must get a foreigner’s tax identification number or NIE. The NIE is essential for any fiscal transactions in Spain.
Replying to the question of what you need to start your business in Spain, the first step is to obtain a certificate from the Mercantile Registry to verify that the company name you want to use is not already taken. Next you have to apply for your C.I.F (tax identification code).
Once you have obtained the tax code and the certificate of no-name coincidence, a deposit of EUR 3,000 has to be paid into a Spanish bank account. Evidence of payment should be obtained for delivery to the notary showing the act of incorporation of the company.
The requirements to start a business in Spain say that with the original deed of incorporation obtained from the notary, you should go to the Local Government Tax Authority to register the deed.
In order to start doing business in Spain, the deed has to be taken to the Mercantile Registry where it will be registered in the Spanish Register of companies. It should take at least 15 days until it is registered and original documents are returned.
The next step of starting your business in Spain involves another visit to the tax office. This time it is to obtain the permanent Corporate Tax Identification Number after the completion of the incorporation process. The last step of starting a new company is registration process as the company’s director is for social security and occupational accident insurance purposes.
If you are not familiar with the requirements to start a business in Spain, it is advisable to address to a professional consulting company.