Can a foreigner open a business in Spain?

Can a foreigner open a business in Spain?

No matter if you are a foreigner or a local citizen of Spain, everybody is allowed to start your business in the country. The only requirement is that you are a legal resident.

How much does it cost to open a company in Spain?

There’s no fixed cost. It would depend on several factors (such as: initial share capital, number of partners, extension of the incorporation deeds, …). The costs for setting-up an ordinary limited company (3,000 euros initial share capital, with 1-4 shareholders usually are: 3,000 € (initial share capital).

How do I set up a company in Spain?

How to start a business in Spain as an expat

  1. Ensure you have a foreigner’s tax identification number (NIE)
  2. Register the company name with the Mercantile Registry (Registro Mercantil Central or RMC)
  3. Get a company tax identification number (CIF)
  4. Open a business bank account.
  5. Sign the deed of incorporation.

How long does it take to set up a company in Spain?

Generally, incorporation of a branch takes between 6-8 weeks. Same procedure as for a company. Same procedure as for a company. The branch will also need to appoint an individual or legal entity residing in Spain to represent the parent company in dealings with the Spanish tax authorities regarding its tax obligations.

Do you need a work permit to work in Spain?

Workers who are not from EU countries need to obtain a Work Visa to be able to live and work in Spain. Without a Work Visa a company cannot legally employ non-EU citizens. There are various types of Work Visas for Spain for different types of jobs and for different lengths of employment.

Can you run a business from home in Spain?

There are many people living in Spain and running a real estate business from home. Technically this is legal but you must be registered as self-employed and be paying tax and social security. Although totally illegal, this goes on a lot in Spain.

What is the name of the richest company in Spain?

Banco Santander
2019 Forbes list

Rank Forbes 2000 rank Name
1 30 Banco Santander
2 135 Banco Bilbao Vizcaya Argentaria
3 141 Telefónica
4 145 Iberdrola