Enterprisers wanting to register a business in Spain should know the main types of companies available for registration and the incorporation procedure with the local Trade Register (Registro Mercantil in Spanish). On the Spanish Trade Register’s website, you can find information about the steps you have to follow in order to set up a company in Spain and the documents you need. For certain information, you will have to pay by credit card. However, the simplest way of opening a company is to request the legal services of Spanish lawyers.
The main procedures for company formation in Spain
The first step you must take is to choose a unique trade name for your company and this should be verified with the Trade Register that will issue a certificate (certificación negativa de la denominación social). The name reservation has a six-months validity period and, during this time, you may incorporate your company. If you can’t manage it, you will have to renew the certificate.
Secondly, you have to open a bank account and deposit the minimum share capital for the incorporation. The bank will issue the statement with the deposited amounts which will be used for the registration of the company. The share capital can be also deposited by a notary in the company’s bank account.
Thirdly, for the registration of the new company, a public deed of incorporation must be drafted. This document contains:
- - the names the of the shareholders;
- - the number of shares each shareholder owns;
- - a fiscal identification number for each shareholder;
- - the payments made by the shareholders;
- - company bylaws;
- - the name of the administrator etc.
You also have to submit a form and receive the tax identification number, pay the required taxes, legalize the company books. For certain economic activities, you may need special licenses or permits that can be obtained by a law firm in Spain, if you don’t want to go in front of the Spanish authorities and handle the entire procedure.
Types of companies in Spain
If you want to start a business in Spain, you have to select the type of structure you will set up, based on your needs and objectives. Our lawyers in Spain will assist you in choosing the appropriate type of company. The following types of structures are available in Spain:
- the sole trader;
- the partnership;
- the limited liability company – the most common type of Spanish company;
- the public limited company;
- the new enterprise limited company;
- the co-ownership.
Assistance in opening a company offered by Spanish lawyers
The company formation procedure in Spain can be quite complicated for foreign investors due to all the steps it requires. With a vast experience, our attorneys in Spain can assist you with the preparation of the incorporation documents and filing them with the Companies Registration Office. We can also help you file for the appropriate business licenses and special permits, in case you need any. Our lawyers can provide with legal advice with respect to the employment legislation in case you want to hire personnel and can also assist you with their registration with the local social insurance authorities. Our law firm can also explain in detail the taxation system and can also provide you with customized tax planning solutions.
For details about the characteristics of each of the companies above, please contact our law firm in Spain. Our lawyers in Spain provide tailored services related to company incorporation.
We invite you to watch a video about the company registration in Spain: