![]() ![]() It is standard for an expat who becomes a resident to pay income tax. Taxes in Spain are a lot covering state and regional ones.Īs an expatriate, there are biases in your favour. As for residents, their taxes are charged progressively. Another thing non-residents enjoy is a flat rate of 24%. ![]() The Spanish financial year is the same as a typical calendar year, and residents are taxed on their global earnings, while non-residents enjoy having only their Spanish income taxed. What Is the Corporate Tax Structure in Spain?Ĭorporate tax in Spain is no joke, and defaulting on payment will attract strict penalties. To fill the position of the director, you could pick two different people or a single person (Spanish resident) to have both corporate and operating functions. You will need to determine how many people will hold shares and their percentage in your new business. You will need to register for a tax identification number (CIF) online or at the Tax Agency.įilling the Seats of the Shareholders and DirectorsĪs a business owner, the last move will be establishing the shareholders and deciding on the directors. For this registration, you will need all the documents you have acquired so far and TA 0521, which you can get at a local security office. You can choose to get all the registration out of the way by applying for social security considerations simultaneously. The registrations may appear never-ending for a new company, but going through with them is necessary. It is 3,000 euros for a limited liability company. Also, you may need to deposit a sum in the account. It will prompt the receipt of a bank certificate. Opening a bank account should be your next move in setting up a company in Spain. It isn't time-consuming and can be done online. This registration process confirms that the name you have decided for your own company doesn't already belong to an existing company. The next thing to do is to register your company's name with the Registro Mercantil Central (RMC). It is a straightforward process, taking a few days for EU citizens to acquire and a slightly longer time for non-EU citizens. It is an identification number given to non-Spanish citizens, enabling them to conduct activities legally. Getting an NIE (Número de Identidad de Extranjero) number is a vital step toward setting up in Spain. Steps you must take to set things in motion include: A popular setup option in Spain is the Limited Liability Company (Sociedad de Responsabilidad Limitada/SL) which many small and mid-sized companies in Spain utilize. There are different business structures in Spain. ![]() The country of Spain is an ideal place to set up a business as an expat. Along with a structured business plan, our useful resources should ensure you get a successful foothold in the Spanish market. More so if you lack adequate information on some issues such as the country's business structures, legal processes, and regulations, to aid the smooth running of your business. In most cases, expanding a business to a foreign country can be pretty daunting. As the 4th largest country in Europe, Spain has a very competitive economy with close ties with European and Latin American nations, a convenient location occupying Africa and Europe, and has a growing interest in constant research and technology. The Spanish market is categorised as a high-income economy because it is the 14th largest globally. ![]() Spain makes the top three list of excellent countries to establish a business in Europe. If you are wanting to reach a larger audience with your products and services, Spain may be the ideal location to grow your business. Once it takes off in your home country, the opportunities for wider success become even more clear. Growing a successful business requires hard work and dedication. ![]()
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