Are there any grants or incentives for business in Spain?
Yes there are Spanish grants and incentives, as well as there being European ones that also apply in Spain, with the aim of stimulating the economy. Aid for businesses can consist of anything from a funding, a loan, grants, tax credits and more.
Do I need a Spanish address?
In order to incorporate a company the company must have a Spanish address to which any correspondence can be received, this is particularly needed for certain taxes, as well as for the initial registration. It is not uncommon for business to use their legal / financial representation address for registration, especially as they are the ones doing their taxes.
Do I need a NIE number to create a new company or acquire a ready-made one?
Yes you will need a NIE number to do any form of financial transactions in Spain particularly director, administrators and shareholders. A NIE number is easily obtained and ABAD if given power of attorney can do it for you, without you even being in Spain.
Do I need to be in Spain for the incorporation of my company?
No, you do not need to be in Spain, if you give power of attorney, then as long as the solicitor has the appropriate documentation they can complete the process for you registering the company with all the correct authorities and getting running.
How long does it take to form a company?
The process as a whole can take between 30 days and two months to complete, which can be less if, all the paperwork is readily available and no complications arise.
Should I buy a new one or form a new company?
It will be completely up to you depending on what you what your company to be. A ready-made company does have the benefit of taking less to change hands and therefore, we will be able to being business quicker including starting to invoice.
What are the accounting tax obligations in Spain?
Like any and every country, if you own a business in Spain then by law you as an individual, but more importantly for the company must submit your accounts and tax forms, as well as making sure that all the corresponding taxes are paid and up to date. In Spain accounts are submitted to the tax office every quarter, with in a set dead line. In term of personal taxes, you will have to submit an annual tax return form. Spanish taxes can be divided in to two types which will be the national taxes, which are covered and are the same all over Spain and then local taxes which will depend on the region in which the business is located. The corporation taxes that apply to your business will depend on its size and nature.
What it is the minimum capital to set up a company in Spain?
The needed capital is 3000 Euros in a Spanish bank account, which will also need to be set up.