Company in Spain
Traditionally placed together with Greece, Portugal and Italy among the most crisis-hit countries in southern Europe, Spain has returned to its high position in terms of GDP of the world’s largest economy and 4th in Europe after almost a decade, reaching a level before 2008.
Spain is a country located in the western part of southern Europe. Madrid is the capital of this democratic country, and its currency is the Euro.
Company registration in Spain
Company formation in Spain and buying ready made company in Spain have regulations that are similar to those of Poland. Conducting business in Spain is characterized by uniformity and transparency of regulations regardless of the type of activity. It is worth noting that Spain is a highly developed country, occupying 5th place in terms of GDP in Europe. Thanks to the fiscal and monetary policy in Spain, it counteracts unemployment and inflation.
The time to open company in Spain varies between four and five weeks, and the tax rate is round 25 %.
Opening business in Spain – types of companies
Let us therefore list a few types of companies that foreign entrepreneurs are interested in registering, these are:
Limited liability company (Sociedad Limitada, SL):
- the minimum share capital is EUR 3006;
- it may be established by one or more persons who are natural or legal persons;
- the partners are liable up to the amount of their contributions to the share capital;
- this type of business activity is recommended for small and medium-sized enterprises;
- this is the most popular form of business activity in Spain.
Limited liability company new company (Sociedad Limitada Nueva Empresa, SLNE):
- the fastest form of establishment;
- relatively new institution introduced in 2003;
- in theory, it is possible to register SLNE within 24 hours of the submission of an electronic articles of association to the Spanish Commercial Register certified by a notary public;
- the maximum number of shareholders, who may be natural persons only, is five;
- the minimum share capital is € 3012, which can only be contributed in cash.
Joint stock company (Sociedad Anónima, SA):
- the minimum number of shareholders is three persons who are required to pay at least ¼ of the share capital, which in the minimum value is 60102 EURO;
- this type of business activity is recommended for medium and large enterprises;
- just as in the case of SL, the shareholders are liable up to the amount of their contributions to cover the share capital.
Limited partnership (Sociedad Comanditaria, SC):
- this consists of general partners who are liable for the company’s obligations with their own assets and at least one limited partner;
- the general partners have the right of representation and management.