Company Formation Spain

One of the reasons why Spain is considered to be among the most important nations in the United Nations is the fact that its economy is the fifth largest in the continent. It is positioned after Germany, the United Kingdom, France, and Italy. Its population is over 46 million people and has a GDP that exceeds $1.3 trillion. With reference to the favorability of its business environment, the World Bank has ranked it at number 30.  

Benefits of Starting a Business in Spain

The top reasons why you should consider starting an enterprise in Spain are:

  1. The size of its economy makes it one of the influential nations in the EU.
  2. It has a large population that provides a big market for different goods and services.
  3. With the nation being an EU member state, the embedded companies have access to the broader EU market.
  4. It has a large and modern infrastructure network.
  5. It has a strategic geographical location within Europe.

Steps of Registering a Company in Spain

  1. Apply for a tax identification document (NIE).
  2. Go to the Registro Mercantil Central (Mercantile Registry) here and register for a certificate as proof that you are permitted to use your selected business name.  
  3. Go to Agencia Estatal de la Administracion Tributaria (State Agency for Tax Administration) to apply for your tax identification code (C.I.F). This code is attained instantly. 
  4. Open a bank account with one of the local banks and deposit the required minimum amount. Ensure that you get the receipt for this transaction. 
  5. Using the documents obtained in the prior steps of this registration process, go to the notary to apply for the position of the enterprise’s CEO. This is also where you’ll create your company’s constitution. 
  6. Register for the business deed with the Local Government Tax Authority. 
  7. Take the business deed to the Mercantile Registry for registration. This procedure takes about 15 days.  
  8. Return to the State Agency for Tax Administration to get your corporate tax identification number.
  9. Register for your social security number with the General Treasury of Social Security.

Notably, the company registration process in Spain can be complicated especially if you’ve never done it before. To lessen your burden, it is helpful to hire the services of a company that is experienced in these proceedings. GFSC Global meets that criterion to the fullest. 

FAQs for Company Registration in Spain 

How long does it take to register a company in Spain?

It usually takes less than 30 days although it may take longer if it is your first time.

Do you need to be physically present?

Not throughout the entire process. Choosing an effective advisor is helpful as they will complete most of the steps on your behalf. 

What documents are needed?

If you are an EU or Spanish citizen, you will need a national ID. If you are a foreigner, you require a residence visa and passport. 

How can GFSC Global Help

At GFSC Global, we specialize in business registration throughout the European Union. We operate in all countries within the EU and have vast experience in representing and registering companies. Contact us for a free consultation.  

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