It may be because of strategic interests of the company, due to political circumstances, or due to a combination of both causes, companies may need to settle, or install a subsidiary of their company, in a country other than their own.
BREXIT TIME
In a BREXIT scenario, it may be of great interest for British companies to set up a company in the territory of the European Union, in order to avoid the increase in the price of their products in this market, which is due to tariffs and customs procedures that will be necessary carry out from 01.01.2021.
Spain is a great option. From our country you can commercially attack the market of the Mediterranean and Central European countries. Furthermore, our country is one of the European logistics powers, with a large number of transport and distribution platforms and business parks.
If your company is in this situation, you must set up a company in Spain.
STEPS TO SET UP A COMPANY IN SPAIN
The procedure for the incorporation of a company in Spain is complex and needs the support of Spanish consultants to carry it out in the shortest possible time and at the lowest possible cost.
What steps need to be taken to set up this company ?:
- Obtaining the NIE (“Foreigner’s ID number)
- Negative certification of the name of the company
- Choosing the appropriate corporate structure
- Contribution of a minimum capital of € 3,000 (“Minimum Share Capital of € 3,000”) and open a checking account in the name of the company
- Request for the Tax Identification Number (CIF) of the Company
- Deed before a notary (“Incorporation Deed in front a Notary”)
- Registration in the Registry (“Incorporation and Registration in the Companies House”)
- Register in the Census of employers before the Tax Agency.
- Bear in mind that you will be liable for the Tax on Economic Activities before the Tax Agency.
- Register partners and administrators in the corresponding Social Security regimes in the General Treasury of Social Security.
- Legalization of the Minutes Book, the Partner Register Book, the Registered Share Book and the Register Book of contracts between the sole partner and the company in the Provincial Mercantile Registry.
- Legalization of the daily book and the inventory book and annual accounts in the Provincial Commercial Registry.
- Obtaining an electronic certificate from the Certification Authorities.
After the achievement of the above requirements, the company will be ready for its start-up. However, it must be borne in mind that depending on the nature of the activity to be carried out, some more requirements may have to be met, such as having an activity license that must be requested from the City Council.
LOOK FOR A SPECIFIC PROFESSIONAL FOR THIS ISSUE
As can be seen, a high number of procedures to be carried out that require the accompaniment of professionals such as those who work in SPANISH BRANCH OFFICE, with extensive experience in the incorporation of companies by non-residents in Spain, as well as in the design of structures of groups and holdings, seeking to improve the global business for your Company.
