DO YOU WANT TO SET UP A LIMITED COMPANY IN SPAIN?

Maybe you are considering setting up a Limited Company in Spain but at the end of the day you are too busy to ask or to find out all the proceedings to do it.

The first thing you may know is that there are different types of limited liability companies in Spain. Broadly speaking company types will depend on:

    1. The minimum number of partners.
    2. Minimum and/or maximum investment required for       establishment.
    3. Social Security system in which partners or workers are or have to be registered.
    4. Some companies may benefit from state or local financial aid and some other sorts of assistance.

The Limited Companies that may be incorporated within the Spanish territory are:

  • The company called: “Sociedad Anónima. SA”. With a minimum of one partner. The minimum capital investment is: 60. 101. 021 €

 

  • The company called: “Sociedad limitada Nueva Empresa. SLNE”. With a minimum of 1 and a maximum of 5 partners. The minimum and maximum capital investment is: 3.012 € and 120.000 €.

 

  • The company called: “Sociedad Limitada. SL”. Minimum of 3.005 € totally paid.

 

  • The company called: “Sociedad Laboral Anónima”. Minimum of 3 partners. Minimum of 60.101.021 € of capital investment, disbursed capital must be at least 25%. About Social Security System is general or autonomous systems for those partner who work in the Company.

 

  • The company called: “Sociedad Laboral Limitada” with a minimum of 3 partners and 3.0005 € of capital investment totally paid.

 

  • The company called: “Sociedad Cooperativa” with a minimum of 3 partners and 1.803 € of capital investment.

What’s the advantage of establishing a company?

With a Limited Company your liabilities with third parties are backed up only by the company’s assets. As a independent worker you would have to face any liability with your own personal assets and thus is considered as unlimited.

Steps:

–          Company’s Name Negative Certificate to Verify the Company’s Name is not in use by another individual or Company.

Where? At “Registro Mercantil Central”. www.rmc.es

–          Bank Deposit. Bank Account Opening and Required investment Deposit.

–          Drafting and Registration of Company’s Constitution Document.

Where? In any Public Notary. It may be advisable to hire a lawyer to draft the Constitution.

–          Provisional Tax I.D Number (into Spanish called: “C.I.F.”). Tax ID Application to obtain the Provisional Number and the ID stickers. Where? In the Tributary Agency (“Agencia Tributaria”). http://www.aeat.es

–          Patrimony Transfer and Documented Legal Acts Tax Payment, that is,  Payment of the Company’s establishment inherent taxes.

–          Company Registry. With this Registration the Company acquires legal authorization to operate.

–          Accounting Books.

–          Economic Activity Start Up Declaration.

–          Partner’s Social Security Registration.

–          Company’s Social Security Registration.

–          Workers’ Social Security Registration.

–          Autonomous and Municipal Licenses.

Further Information? Contact us: abogados@ibanezaragon.com

http://www.ibanezaragon.com/en

 

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