How to start a business in Spain?

Spain is one of the most loyal countries in the world, providing foreign citizens with the most favorable conditions for opening and doing business on their territory. Investors have the opportunity not only to register a new company, but also to buy an existing business or re-register a «dummy company». An important factor for non-residents of the country is the fact that starting a business is one of the shortest ways to obtain a residence permit.

There are 3 types of doing business:

- individual company

- joint-stock company

- limited liability company

The opening procedure for residents and non-residents is virtually the same and involves the following actions:

•    get a foreigner identification number

•    sign an agreement with an assessor (company manager)

•    compose several variants of the name for the company and check their uniqueness

•    open a bank account and transfer authorized capital

•    certify the charter of the company with the participation of a notary, founders and manager

•    pay the tax fee (1% of the amount of the authorized capital)

•    provide the charter of the company for registration with the Chamber of Commerce for entry into the register