A Spanish company can be useful for several reasons. Firstly, if you intend to start a business in Spanish territory. In certain scenarios, a Sociedad Limitada (SL) - similar to a private limited company - is also recommended to manage your property in Spain. This article will give you more information on setting up a Spanish company.
Is buying property with a partnership advisable? Learn more about the consideration here.
Step 1: apply for your NIE number
An NIE number is a tax identification number for non-residents in Spain. Without this number, foreigners cannot set up a Spanish company. You also cannot, for example, buy a house or apply for a number plate.
If you have a SL foundation with a Belgian company, you should additionally apply for a NIF/CIF number.
Find more information on how to apply for a NIE number here.
Step 2: Come up with some names for your Spanish company.
The name of your company must be unique. The Spanish administration confirms that your company name has not been used before. It does this by means of an attestation, a certificación de denominación social. It is therefore recommended that you specify several names, in order of importance.
Step 3: Open a Spanish bank account
Once the company name is established, the next step is to open a Spanish bank account in the name of the company in formation. In addition, you will also need to pay up the capital. In the case of a SL this is a minimum of 3,000 euros. The bank will then provide a certificate (certificación bancaria).
Step 4: The memorandum of association
After you open the bank account, the incorporation deed can be registered with a Spanish notary. The incorporation includes a description of activities and articles of association.
Step 5. Provisional company number application
With the notarised deed of incorporation, you can register the company in the Commercial Register. You will then first receive a provisional company number (Número de Identificación Fiscal Provisional).
Step 6. Payment of registration fees
Depending on the autonomous region, you will also pay registration fees on the start-up capital. However, some regions grant exemptions.
Step 7. Final entry in Trade Register
Within two months of the notarised deed of incorporation, register the company in the Spanish commercial register (Registro Mercantil). The company will be published in the Boletín Oficial. You will then also receive your final company number.
How much does incorporation cost?
An establishment of a SL with a minimum capital cost totalling +/- €4,000. In addition, there is a contribution of €3,000.
How much time does incorporation take?
Allow around 1-2 months for this.
The incorporation of a company is initiated simultaneously with the purchase procedure in the context of a real estate investment.
Read more about the practical steps of buying in Spain.
Do I have to be in Spain for all these steps?
You do not need to travel to Spain to incorporate a company. We can fully handle an incorporation with a notarised power of attorney at a notary in Belgium.
Read more about representation via notarised power of attorney.
Do you have questions about investing in Spain with a company? We are at your disposal.
