Establishing a company in Spain basically requires its constitution before a Public Notary and its Registration in the Commercial Register. Broadly is necessary to complete each of the following steps:
- Start the procedure to obtain the Foreign Identification Number (NIE). The NIE is mandatory if the Shareholder or the Director or Directors of the Company are foreigners.
- Obtaining a negative Certificate of the Corporate Name. This certificate is issued by the Central Commercial Register in Spain, to obtain this Certificate we must provide them with at least FIVE Corporate Names.
The Certification issued by the Commercial Register in Spain, confirms and indicates that the corporate name of the Company it is available and can be used by the new company.
- Opening a Bank Account. For the payment of the monetary taxes of the Company and obtaining the bank certificate.
The amount payable in cash at the time of the constitution of the new company usually deposited or transferred to a bank account opened in Spain on behalf of the new company, adding the words «society in formation.»
- Appear before the Public Notary for the creation of the Company and granting the corresponding Public Deeds:
- Incorporation of the Company Public Deed. The documents needed to be presented before the Public Notary in Spain are the following:
- The statutes of the new company, with the minimum content required by Spanish law.
- The original identification documents of the shareholder or directors of the Company.
- The declaration of foreign investment duly completed and submitted before the Ministry of Commerce within one month of the establishment of the new company.
- Act of the beneficial ownership Public Deed.
The Pubic Notary in Spain must identify individuals (name, nationality and number of supporting evidence) that ultimately own or control, directly or indirectly, a percentage higher than 25% of capital or voting rights of an intervening legal person or by other means exercising control, direct or indirect management of the legal person.
- Obtaining of Provisional Tax Identification Number of the Company. (“NIF”)
- Payment of the Tax of Properties Transfer..
- Registration in the Commercial Register.
- Obtaining the definitive Tax Identification Number society.
Procedure to obtain the Foreign Identification Number “NIE”
The applicable laws require that in certain cases (non-resident in Spain) foreign individuals or companies doing business or maintaining economic links with a resident in Spain to obtain the Foreign Identification Number for tax purposes. In the case of individuals, «NIE» and in the case of companies a Tax Identification Number, “NIF». Individuas or company foreigners in Spain are obliged to hold an ID or Spanish NIE, among others, the following common assumptions in the business practice: when they are shareholders or directors of Spanish companies, to the granting of deeds of sale property and related interests in land, to make any kind of economic transaction in Spain (for example, opening a bank account) or filling in any form inherent administrative request to the foreign office or Tax agency.
Documents required to the apply for the NIE
- The payment of the fee.
- Printed-standard application (Model EX15).
- Full passport or document travel in force.
- Communication of the reasons justifying the request.