Prior to incorporating a company in Spain, you need to have at least one director and one shareholder. Both can be of any nationality. But there is one exception to this rule, it's necessary to appoint a resident company secretary. One more step before company registration - all directors and shareholders need to get a Spanish NIE (fiscal identification number). Minimal authorized share capital for a limited liability company is 3,000€. Public Limited Company need to have minimum 60,000€ capital. Fourth part of this capital must be paid before notarization, but the rest will be paid in accordance with established period. This information you can find in your documents of company incorporation.

Let's now analyze what are the strengths of each option. In case you buy a ready-made company, it saves you time as you don't have to register a new company's name. Usually it takes 4-6 days. But instead of that you have to wait until mercantile registry will change company's director. The incorporation of a new company takes 15 business days whereas there are no time limits required by Law for applying changes to an existing company. Moreover, you can't use your company bank account, until the mercantile register confirms the company's changes. In the interest of saving time, we recommend to register a new company.