Entrepreneurs from overseas have varied possibilities for starting a business in Spain. The budget normally dictates the type of entity that suits most of their activities. The costs for starting a business in Spain can be explained by one of our company formation agents in Spain. Our team can manage the formalities of business incorporation in Spain.
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Costs for an LLC in Spain
Company formation in Spain and more specifically LLC is a relatively a simple process, which involves some essential costs, as follows:
- EUR 3,000 is the minimum share capital that must be deposited in a local bank account in Spain.
- A cost of approximately EUR 100 is added to the company’s registration fee with Registro Mercantil Central.
- Also around EUR 100 are needed for accounting services.
- If you want a virtual office in Spain, add around EUR 80.
- Our company formation fee is approximately EUR 1,500.
In addition to the costs mentioned above, there will be considered those for creating the documents of the company you want to register in Spain. There are a number of formalities related to the incorporation of a company in Spain, so do not hesitate to talk to our specialists and find out how you can be helped and guided.
Budget for a sole trader in Spain
The sole trader is the simplest form of business available in Spain that can be registered by one person. He or she will be responsible for business investments, profits, and losses alike.
As there is no need for a minimum share capital for this type of entity, the entrepreneur will focus on the costs related to its formation. The accounting services, the creation of documents, and the costs of the agent in charge of registering a sole trader in Spain come into question.
Are you looking for bookkeeping in Spain? Our company offers personalized services to companies that carry out their activities in this country. We mention that all incoming and outgoing payments must be registered in a company, with the help of bookkeeping procedures. But to better understand the formalities involved, you can talk to our certified accountants. Discover our services and ask for free case evaluation.
Registering a branch or a subsidiary in Spain
A subsidiary registered as a limited liability company requires a minimum share capital of EUR 3,000. If the subsidiary operates as a joint-stock company, a minimum share capital of EUR 60,000 is required. This sum must be deposited in a local bank account at the time of incorporation.
There are also costs for accounting services, creation of company documents, transfer tax on stamp duty, to name a few. Here also you can benefit from the full support of our company formation specialists in Spain.
Short steps for company registration in Spain
Both local and foreign entrepreneurs can easily register a company in Spain. In addition, they can benefit from all the support offered by our team of specialists who can deal with the drafting of documents and their registration with the relevant institutions. We present below some important steps related to the incorporation of a company in Spain:
- NIE is the identification number issued for foreigners in Spain and the starting point for company registration.
- If you decide on an LLC in Spain, a minimum share capital of EUR 3,000 is needed. The deposit of this cash is normally made in a local bank account.
- The Articles of Association are the main documents of the company. One of our agents can prepare such documents before signing them to the notary.
- The tax registration is the next important step. An identification number will be provided by the tax authorities in Spain.
- Once the company stamp is issued, the firm is ready for activities.
These are some important steps in incorporating a company in Spain, but all the details can be provided by our team specialized in this field. You can rely on us from the very beginning if you want to open a company and need to know the costs for starting a business in Spain.
Why invest in Spain
Spain is one of the most attractive business destinations in Europe and the place where many foreign entrepreneurs enjoy huge profits. The well-developed infrastructure is one of the great advantages offered, which support the smooth running of the business. An experienced workforce, the possibility of developing economic activities in most sectors of interest, and the affordable costs of setting up a company in Spain are other important aspects to consider and immense benefits for those who are for the first time entrepreneurs in Spain. Here are some data and statistical figures that underline the economic direction of Spain:
- Nearly USD 752 billion represented the total FDI stock for Spain in 2019, with more than EUR 15 billion compared to 2018.
- The 2020 Doing Business report ranked Spain 30th out of 190 worldwide economies in terms of simplified business and more.
- Around 24% of the total FDIs of Spain in 2018 were absorbed by the financial and insurance sector.
Interested in the costs of starting a business in Spain? You can contact our company formation representatives in Spain and ask for guidance and details. We are here to offer you the needed help.