Business in Spain for foreigners is quite beneficial considering the country’s advantages among other European countries. Respecting the main business regulations is important for those starting a company in Spain as foreigners. However, the support of a company formation agent in Spain will prove extremely helpful and beneficial right from the start. We present to you a few of the key aspects for opening a company in Spain, helped by our specialists.
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What types of companies can a foreigner open in Spain?
Starting a business in Spain as a foreigner means selecting the structure in the first place and respecting the formalities imposed by the legislation. SL is Sociedad Limitada or the limited liability company, a flexible business form that suits most of the needs of local and foreign entrepreneurs. The Spanish SL must respect a few important requirements we present below, mentioning that at least one shareholder is needed for incorporation:
- EUR 3,000 is the minimum share capital for registering an SL in Spain.
- One must open a bank account in Spain for drafting the minimum share capital.
- The Articles of Association represent the main documents of a SL in Spain.
- The registration for taxation and social contributions is required for starting a business as a foreigner in Spain. A tax identification number will be distributed.
Sole proprietorship or Empresa Individual is another proper business form that can be selected for future activities by foreigners in Spain. This has the simplest business structure because there are no minimum share capital requirements or strict requirements. More about business in Spain for foreigners can be discussed with our company formation specialists in Spain.
Branches and subsidiaries in Spain
Branches and subsidiaries in Spain are normally the choices of international entrepreneurs with large companies. While subsidiaries are flexible and independent, branches must report all the activities and financial aspects to the parent company. The limited liability company represents the optimal business form for branches and subsidiaries in Spain. More about starting a business as a foreigner in Spain can be discussed with one of our company formation agents in Spain.
Can I purchase a shelf company in Spain?
Yes, purchasing a vintage company in Spain is available for foreigners who want to start a business in this country. A shelf company is normally the choice of international entrepreneurs who want to start the activities right away instead of dealing with the entire company registration formalities. This means that a ready-made company is already incorporated in Spain and once the transfer of ownership is concluded, the operations can commence. You can discuss with our company formation agents in Spain and see how you can purchase a shelf company in Spain. Business in Spain for foreigners is straightforward and allows entrepreneurs to start the operations in a fast and reliable manner.
Making investments in Spain
Spain represents a significant business destination in Europe and many profits can be made in the tourism sector, one of the most prosperous industries. The legislation related to foreign investments allows international entrepreneurs to start their activities and develop their businesses without complexities and restrictions. With the experienced and multilingual workforce, being a representative gateway to international markets, and recognized for the highly developed infrastructure, Spain is in many cases the choice of foreign businessmen who want to thrive in the South-Western part of Europe. The company formation in Spain is a simple process and quite competitive in matters of employment costs and other expenses. We present you a few interesting facts and figures about the economy and business in Spain:
- The 2020 Doing Business report ranked Spain 30th out of 190 economies in the world, regarding the ease of doing business.
- Around USD 751,5 billion was the total FDI registered in Spain in 2019.
- Nearly 70% of the total FDI stock in Spain comes from European countries like Italy, France, UK, the Netherlands, UK, and Luxembourg.
- Around USD 21,4 billion represented the total value of the greenfield investments in Spain.
Starting a business as a foreigner in Spain is not complicated, particularly if you ask for help in terms of company registration and related formalities. You are invited to contact our specialists in company formation in Spain and find out more about business in Spain for foreigners.