Set-up a business in Spain

11.07.14 Immigration Spain (international Lawyers Group) Law Firm Barcelona Spain

 

To start a business in Spain the first step you need to take is decide which type of corporate entity is better for you so as to start your company. Our lawyers will advise you on which option best fit your situation.

 

· Types of Corporate Entity

 

The main types are:

 

a) Corporation (S.A)
b) Limited Liability Company (S.L)
c) European Company (S.E)
d) New business limited Liability Company

 

TYPE OF CORPORATE ENTITY N. OF SHAREHOLDERS MINIMUM CAPITAL LIABILITY
CORPORATION (S.A) At least 1 At least 60.000€ Limited to capital contributed
LIMITED LIABILITY COMPANY (S.L) At least 1 At least 3.000€ Limited to capital contributed
EUROPEAN COMPANY (S.E) At least 1 At least 120.000€ Limited, in principle, to the capital subscribed
NEW BUSINESS LIMITED LIABILITY COMPANY Minimum 1 / Maximum 5 at the time of formation (only natural persons) Between 3.000€ and 120.000€ Limited to capital contributed


· Limited Liability Company (S.L)

 

A Limited Liability Company gives the shareholders considerable leeway to define the S.L’s internal rules of governance in the bylaws.

 

The minimum capital required is 3,000€ having to be totally paid at the time of formation. This capital must be divided into shares (“participaciones”), which, in general, cannot be transferred (unless to other shareholders, ascendants, descendants, or companies of the same group) unless otherwise provided in the bylaws.

 

The executive management body of an S.L. is made up of one or more directors, who need not be shareholders or Spanish nationals.

 

- Steps to follow so as to start a SL company:

 

a. Applying for a NIE number

b. Registration of the company NAME

You choose three possible company names (starting with the one you prefer the most) and our lawyers will submit them to the Spanish Company House. In a period of 3-5 days the name will be accepted.

 

After that, you will be asked to open a bank account. After receiving the official name certificate, the registration of the company has to be done within 3 months. If it is not registrated within this period, it will expire and you will need to reapply.

 

c. Bank account opening

 

A deposit (minimum of 3000€) has to be done into an account of a bank of your choice. This deposit is necessary in order to set up a Limited Company (SL) as your share capital. In case of setting up a Public Company (SA), the deposit has to be a minimum of 25% of the 60,000€ share capital into the bank account.

 

d. Company title deed

 

Next step after the official registered name certificate and the bank certificate is the signature, at the Notary, of the company title deed.

 

In the title deed, the statutes and activities of the company are stated as well as its shareholders and their liabilities. Our lawyers will prepare those documents in advanced and will accompany you to the Notary for the company title deed signature.

 

e. Registration of the company at the Mercantile Registry to get a temporary (and then permanent) tax ID number (CIF)

 

Our team will supervise and handle all the procedure and advice you in every step and decision you will need to take.
The procedure takes between 7 days (for SL Express) and 21 days (SL or SA), depending on the type of company that has to be registered.

 

 

INFORMATION
Telf. +34 93 467 21 97
Mov. +34 619 49 31 31
Fax +34 93 272 00 16
Paseo de Gracia 95, 1º-1ª .
08008 Barcelona (Spain)
info@immigrationspain.es