How to create a company in Spain

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One of the possibilities for a foreigner who wants to emigrate to Spain to obtain a residence and work permit is to establish a company or business.

Of course, this must meet certain requirements, in terms of job creation, investment, and so on. But how difficult is the bureaucratic process of creating a company in Spain? We explain it to you next.

How to create a company in Spain: types

For starters, we can say that in order to develop a business activity on its own, it is not essential to create a legal entity or commercial company. It can be done as an individual entrepreneur, the so-called freelancers. However, this has limitations if there are several people involved in the project. It may also be inconvenient in that the personal responsibility of the employer is not limited in this case.

If, on the other hand, the investor decides to create a company, there are about 20 different legal forms. The most common are the limited liability company (SL) and the limited company (SA). The first requires a minimum capital of 3,000 euros, while the second requires 60,000 euros.

How to create a company in Spain: term

The normal process of creating an SL or a SA takes about 30 days. Said process includes:

Reserve a name before the Main Commercial Registry.
Process the registration in the Treasury.
Present and sign the constituent documents before a Notary and then register them in the corresponding Mercantile Registry.

How to create a company in Spain: the express way

However, a few years ago, through a computer system over the Internet, known by the acronym CIRCE, you can create a business for up to three days. This procedure applies both to the case of businessmen-natural persons, as for SL and for the New Company Limited Company (SNLE). The last one is an SL whose particularity is that the name is formed automatically with the surnames and name of one of the partners and an alphanumeric code. This way it avoids the process of asking for the name to the Central Mercantile Register. The CIRCE can not be used to create a SA or other types of companies.

How to create a company in Spain: particularities for foreigners

Although to be a founding partner of a company, a work and residence permit is not required (although the processing of an NIE is required), to be an administrator of it, it is necessary.

Therefore, if you are in the process of creating the company as a previous step to request such residence permits, you would initially have to designate a Spanish citizen or a foreigner with legal residence in Spain as administrator or administrators.

How to create a company in Spain: other procedures

But it is not enough to give legal personality to the company. To start the activity, you must also previously meet other requirements, among which the following stand out:

it must be registered in the census of economic activities before the Tax Agency;
also register with the Social Security, both the company and the workers (including administrators);
obtain the activity license granted by the city council, which may take time; Y
process certain special licenses, depending on the activity (as in the case of travel agencies, investment companies, security companies, etc.).

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