are gaining momentum and occupy an ever-increasing important place on the stage of economic and financial development.
Investors who create a cryptocurrency company in Spain benefit from the business environment in the country and from the startup communities that have coagulated in business hubs like Madrid and Barcelona.
One of our lawyers in Spain
can help you with legal information on cryptocurrency mining and the current laws in place for companies that engage in these types of activities.
Cryptocurrency companies in Spain
As cryptocurrencies are becoming a local reality, tax authorities are developing regulations to cover the “mining” operations and the overall activities related to cryptocurrency operations. In Spain, individuals and companies involved in cryptocurrency mining are required to register with the tax authorities. This type of activity has labeled as a wealth-creating economic one and shall be taxed
accordingly, however, companies may still benefit from tax deductions on expenses related to their type of activities.
Spain has an ongoing project, the fruit of the collaboration between several large companies, which aims at putting Spain on the map of countries actively use cryptocurrencies. The companies involved in this large-scale project wish to use the blockchain technology and the cryptocurrency for data and asset exchange between corporations. SpainCoin, PesetaCoin and other Spanish cryptocurrencies are currently being developed.
You can talk to one of our attorneys in Spain
for more information on the legislative changes surrounding these types of activities and the regulations applicable to your business.
How to open a company in Spain
Investors who want to start a cryptocurrency business in Spain need to choose a type of company, obtain a name certificate, draw up the company’s documents in front of the notary, register the company with the Mercantile Register and obtain a tax ID number.
Foreign investors who are faced with a language barrier or who cannot be present in the country during the entire company formation procedure can talk to one of the experts at our law firm in Spain.