10 steps to incorporating in Spain
Please find below information on the steps followed by our Firm to assist our Clients complete their Spanish business setup projects. The steps below mainly apply to a limited liability company (locally known as a Sociedad Limitada), but feel free to contact our team for information for other types of business entities.
- Before proceeding with an engagement, Healy Consultants Group PLC i) collects Know your Customers documents on the expected shareholders, directors and ultimate beneficial owners of the Spanish company and ii) kindly request our Clients to settle engagement fees (payable by instalments if necessary);
- After completion of the above step, Healy Consultants advises our Client re i) the optimal type of structure for their business ii) licensing requirements (if any) then iii) reserves the preferred company name with the Spanish Central Mercantile Registry;
- After issuance of a certificate of uniqueness for the company name by the Registry, our team assists our Client to open a capital account, to which the paid-up capital must be injected before Spanish company incorporation application can be submitted. The account opening process will take at least 4 weeks, during which our Firm also drafts the company statutes (also known as the M&AA) for our Client’s review and approval.
- Following capital injection and issuance of the certificate of deposit by the bank, Healy Consultants submits a quality Spanish business incorporation application through CIRCE, the one stop shop Government agency also used for tax and employer registrations;
- After approval of the application by CIRCE, Healy Consultants gets a Spanish Notary to i) certify the statuses of the entity and issue a certificate of incorporation then ii) independently register the company for corporate income tax with the Spanish Tax authority.
- Healy Consultants i) completes registration of the entity at the City Hall of the city of incorporation of the entity and also ii) pays municipal registration tax on behalf of our Client;
- After completion of the above step, the entity is legally able to start trading, after sending notification of the same to i) the City Hall of the city of registration and (when the company has employees and an office) ii) the Spanish Ministry of Employment;
- Following these steps, Healy Consultants assists our Client to convert their capital account into a trading one, so they can start billing customers and making transactions;
- If required, Healy Consultants also assists our Client to secure regulatory licenses, hire local staff in Spain and secure a permanent office for their Spanish company;
- After engagement completion, our team couriers to our Client a complete company kit, including all corporate documents of the entity. We also welcome client feedback on what we did well and what we could improve through a “customer feedback” survey.
Frequently asked questions
Is a company secretary required for Spain company incorporation?No. A company secretary will not be required when our Clients incorporate a Spain company.
What are the minimum capital requirements when incorporating a company in Spain?When incorporating in Spain, €3,000 will be required for starting an LLC while €60,000 will be required for a PLC.
What Spain incorporation services can Healy Consultants offer my firm?As Spain incorporation service providers, Healy Consultants will assist our Clients with i) company registration ii) business license registration iii) immigration solutions iv) employment strategies v) business banking solutions and vi) office rental requirements.
How long does the incorporation process take?Spain company incorporation process will take 3 weeks for completion.
Are there any business restrictions for foreigners when incorporating in Spain?No. Foreigners incorporating in Spain face no restrictions as to the type of business activity they can perform.