Spain is one of the most preferred incorporation hub and a leading destination for foreign investments in Europe. The business culture in this land is more advantageous for many kinds of business and investment plans. More and more people are looking for the opportunities to register business in Spain. The government itself is promoting the openings for both local and international businesses. This is the best time for you to incorporate in Spain or starting your business in this European country.
Why and How to Open Company in Spain:
There are many benefits of registering your company in this country compared to other economies. The process of doing so is simpler and takes minimal time. The experienced lawyers and leading law firms are guiding the corporate houses, individuals and startup companies better. You can complete the process including the documentations and required registrations online using an expert agency, nowadays.
10 Essential Steps to Register Business in Spain:
1. First of all, you have to decide on one or few names to name your company. Ensure that the names forwarded to the registration office are unique or exclusive to your business only. Usually it takes 3 to 4 days for getting the confirmation.
2. Around 500 Euros and one day required to open a bank account. You need this to deposit the capital money and obtain the certification of the deposit. There are multiple names or options available to choose from, in this segment.
3. You need to proceed now for obtaining a public deed of incorporation. It will be granted before a notary public and required one day in an average.
4. Now you have to put forward the Declaracion Censal de Inicio de Actividad to the Delegacion Provincial de la Agencia Estatal de la Administracion Tributaria. Usually this process takes one day, to obtain the Tax Identification Code.
5. You will get 30 business days time period for paying the Legal Documented Act Tax and Asset Transfer Tax to the tax authority, after preparing the public deed of incorporation. As a rule, you have to pay 1% of the capital amount throughout the process.
6. In the next step to open company in Spain, you have to present the public deed of incorporation, with the help of your lawyer or individually, with the Mercantile Registry. It takes a bit more time and you can expect 15 days as an average period.
7. In this step of register business in Spain, you will be required to legalize the company books.
8. Now proceed for obtaining a license from the town council to open business premises.
9. In the current step to open company in Spain, registering for social security will be done. It can be completed within the same day of applying.
10. In the final step, within a month of starting activities, you have to notify the Delegacion Provincial de la Consejerea de Trabajo e Industria.
To make these processes simpler, you can opt to hire an expert lawyer or law firm. The fees and time may vary according to your preferred business structure.