Doing business in Spain
Spain is opening to new markets, new opportunities and new entrepreneurs. In the search for alternatives to overcome the difficult economic situation that the country is going through, the government is putting its trust in new investors, especially those foreign venture capitalist who wish to expand their business to Europe, and Spain seems to be the perfect place to start or at least to try.
The Spanish market offers variety for new entrepreneurs: different business opportunities blending perfectly with a remarkable diversity of future costumers. Tourist area (hotels, restaurants, etc.) is obviously in the spotlight of new businessman; however, Spain counts with other areas that are developing very quickly, such as media, telecommunications, energy, among others. You must be aware that investing in a new country can be complicated or even dangerous if you do not count with the necessary knowledge of the market and the legislation involved in this type of proceedings. Our Corporate Lawyers can help you feeling safe and confident about opening a business in Spain for they can illustrate the path you must follow for a successful completion of your new company.
In our Law Firm you will find all the necessary guidance and help in both English and Spanish that you need to protect your finances and your business. Our staff counts with years of experience in the area, along with a deep knowledge of Spanish Laws and the economic situation and opportunities in each autonomous community. Our services are aimed to help you even avoiding unnecessary visits to our country, for our attorneys will represent you by means of a Power of Attorney and will keep you updated on any outcome that may arise during the incorporation of your company.
Type of companies
As a way to give you an overlook of the services and possibilities that our Law Firm and the Spanish legislation have for you, we have summarized the different type of companies or legal forms that you may choose to set up in our country, from being an autonomous entrepreneur to register a Limited Liability Company. For instance, if you choose to register as an autonomous entrepreneur it means that you and only you, without further employees or capital, will be performing directly the intended lucrative activity. Another option for starting mercantile operations in Spain is to acquire a shelf company or a readymade company, which is normally already registered and the key step to be done here is changing its ownership before a notary and check if it is compliant with law and debt free.
Limited Liability Companies and Public Limited Companies (Sociedad Limitada, S.L. y Sociedad Anónima S.A. in Spanish respectively) are the most common legal forms in Spain. In both cases the participants shall respond with the initial amount of money that they have invested at the moment of setting up the Company. However, they differentiate in many aspects, being the key ones the capital and the way the income is processed. For instance, in a Limited Liability Company the minimum capital required is of 3,000€ and the income goes directly to the owners. While in a Public Limited Company, the minimum capital required is of 60,000€ which is divided into shares, meaning the profits will pass through the company to the different shareholders. A Limited Liability Company takes around 3 weeks to be settled, while the other could take longer.
In the process to incorporate a company normally you will be requested to issue a C.I.F, open a bank account for the company, get the Deed of Incorporation, register the company, get a Negative Certificate of Name, pay taxes, among others; therefore, our experienced corporate lawyers will represent you and guide you in each part of the process. Contact us now.