FREQUENTLY ASKED QUESTIONS
When starting a business in Spain a number of questions may arise such as regarding registration process, Spanish legislation and many others. Whether you recently decided to form a company in Spain or you're already in the process of company formation, here you will find information that can help you start your business in the right way. Didn't find what you were looking for? Don't hesitate to ask our experts. Adm In ME is here to assist.
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.
No, it is not obligatory. If you don't have an opportunity to come to Spain, you will need to send us a letter of attorney. It must be notarized with a Hague Apostille. Moreover, if you don't have a bank account in country company resident, we can help you. Contact us to get more information.
- Power of Attorney for company registration, both in Spanish and English, filled in, signed and apostilled as per Hague Agreement;
- The Power of Attorney of the your company representative stamped/ apostilled as per Hague agreement (this usually can be obtained from the Chamber of Commerce or the Trade Office in the home country);
- Company Incorporation documents in the home country signed and stamped as per Hague agreement;
- Copy IDs of company representative (if there are more 1 legal representatives, we would need their IDs as well) signed and apostilled
Yes, the process of forming a company includes also obtaining a Spanish tax Identification Number. This tax ID is also VAT. It allows you to conduct business in the whole of Europe.