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In many countries, in order to become the owner of your own company and register it on the territory of a particular country, being a foreigner, it is necessary to attract a local resident who will act as a co-founder, director or guarantor. However, such obligations do not apply to Spain. The opening of limited liability companies in this state with an authorized capital, the smallest size of which is more than 3 thousand euros, is very popular. In addition, joint-stock companies with the smallest authorized capital of more than 60 thousand euros are often opened.
Foreign residents who are not Spanish residents are entitled to conduct certain economic activities. To do this, you need to register as an independent private entrepreneur or register an individual enterprise. At the same time, only one person can be a co-founder. It follows from this that in order for a foreigner to carry out activities at a company that belongs to him, a foreigner must have a permit that gives him the right to reside and work in the territory of this country.
In addition, representative offices of foreign companies can be opened in Spain, and it is also possible to establish subsidiaries. The very first thing to do when registering your own company is to submit an order and register the name of the company. These cases are under the authority of the central office of the Commercial Register, located in Madrid.
Specialists prepare the main document of the company – the charter. This is because firms are usually opened on Spanish territory, the type of activity of which is determined immediately and specifically, because foreigners have become accustomed to doing all the things that the law does not prohibit. In addition, this is due to the strict licensing of certain activities, which are carefully monitored by government agencies. For example, this may include firms engaged in the provision of tourist services. It should be remembered an important detail – the duties of a notary to whom a foreigner applies include the certification of signatures, he is in no way connected with a work permit. Do not forget about obtaining the tax number required for the company, which is issued temporarily, as well as about paying one percent tax, which is levied on the authorized capital. After that, the "Official Bulletin of the Trade Register" is informed in writing about the fact that the company is open, and it is also necessary to enter data about the established company, which are recorded in the archival books of the state – this function is assigned to the Trade Register.
The entire registration procedure will take about two weeks. After that, they contact the tax service and the social insurance department again, so that they enter information about the company that is already registered into the database. Within seven to ten days after the permission to open a company is received, it can begin its work.
However, there are some restrictions – it is forbidden to hire employees, import and export products, and it is also impossible to open a full-fledged account. One should not lose sight of the fact that no matter what the company is – working, temporarily not working, in any case, a report is submitted annually to the tax inspectorate, and copies of accounting documentation are submitted to the commercial register. The duties of the company that operates include the provision of a quarterly report to the tax inspectorate on the payment of taxes – VAT, income tax, which is paid for each employee of the company. In addition, the report includes some social taxes – a tax for renting a room, for example.