Business · Investment
Set up your company
The first aspect to consider if you are interested in setting up a company in Spain is what legal entity the company should have. There is a plurality of available business structures in Spain, amongst which there are the following: (i) Sole Trader; (ii) Partnership / “Sociedad Civil”; (iii) Limited Liability Company / “Sociedad Limitada, S.L.” ; (iv) Public Limited Company / “Sociedad Anónima, S.A.”
Once you have chosen the business structure your company will have, according to its aim, type of investment and possible development , you will need to go through the following steps in order to set up a company in Spain:
- Getting the NIE number
- Defining the name of the company and checking its validity
- Obtaining your CIF or tax ID number
- Opening a bank account for the company
- Establishing the shareholders and creating a shareholder agreement
- Signing a public deed of incorporation at the Notary
- Registering the company with the Tax Authorities
- Registering the company in the Social Security
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Register as Autónomo
An Autónomo in Spain is someone who is legally registered as a freelancer or self-employed worker or that runs a small business. This means that if you provide any of this kind, you need to register as autonomo. Also, have in mind that for certain types of activities, the municipality requires an opening license.
In order to register as an Autónomo, you need to have a NIE number; a Social Security Number and a Spanish bank account. Moreover, if you are a non-EU national, you will also need a work permit.
Once you are registered as Autónomo, you will be included in the “autonomo social security system”, also known as RETA. Bad news are that with this registration come two basic obligations: to pay a monthly social security contribution and to pay two types of taxes: VAT (or “IVA”, in Spanish) and IRPF (Personal Income Tax).
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The Spanish Golden Visa is a residence permit which will be granted to non-EU investors to investors who make a significant investment in Spain.
The mentioned investment can be any of the following:
- Real estate assets (€ 500,000).
- Shares of a Spanish company or bank deposits (€ 1.000.000).
- Public debt (€ 2.000.000).
- Entrepreneurs who start business projects in Spain of general interest.
Regarding the first-mentioned investment, you should take into consideration that it can include multiple properties and can be owned through a company if the applicant accredits that they hold control of the company.
Moreover, the investment must be made in full, which means that you can only request a mortgage for the excess above € 500.000. In this regard, the law requires the mentioned sum to be unencumbered, so mortgage-free. Finally, bear in mind that taxes are not included in the investment threshold.
Once the Golden Visa is granted, its holders will not not be required to apply for a visa to enter the Europe Schengen area, and they will be able to transit and enjoy free movement within the Schengen area for a maximum period of three months (90 days) per half-year from the date of first entry.
It’s a fast and efficient process in which its application will be resolved within 20 days.