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Understand the Jurisdictions Setup Requirement Before Proceed Your Register Company in Spain
With a population of about 47 million people, Spain is one of the biggest consumer markets in the European Union. What makes Spain a desirable location for investors who are keen on setting up a business in this part of the world include the fact that Spain’s location allows it to serve as an excellent entry point into the Latin American market.
There are several reasons why an investor would be attracted to set up a business in Spain. The size of Spain’s markets alone holds plenty of potential for investors who are seeking to expand their business. Seeing as how English is also a widely used language here for business purposes, it makes running a business for international investors so much easier.
Spain is also home to a highly effective transportation system and an advanced ICT network. Spain is a member of the European Union and World Trade Organisation. Investors are attracted to Spain because of the country’s culture and quality of life and the access to talented professionals, technology and more. Spain is a country of opportunity for the investor with the means to take advantage of it.
Before beginning a new business venture anywhere in the world, due diligence must be done prior to taking the steps to setting up a business. It is important to find out as much information as possible about the market that you are planning to establish a business in because this is a decision that needs a lot of thought and planning going into it.
The process of registering a company in Spain
To get started registering a company in Spain, investors would need to go through the following steps to get started:
- Obtain a Certification of Uniqueness of the Company Name, which can be requested from the Central Commercial Registry’s website. Once the certificate has been issued, the company name will be reserved for the business for a maximum of up to six months from the date of issuance.
- Obtain a bank account for the business and deposit the needed capital to obtain the deposit certificate. The bank will only issue the relevant certificate to the business once the deposit has been made and confirmed.
- File the Single Electronic Document and make an appointment with the notary. The Single Electronic Document, better known as DUE, is obtained when an investor has completed a single registration form through CIRCE.
- Obtain the registered public deed of incorporation and the fiscal identification number for the business before a public notary. The public deed is granted by the notary within a week approximately.
- Make the payment of the municipal tax for urban services before submitting the notification to start the business operations.
- Head to the Town Council and submit a notification for the start of operations.
- Notify the Ministry of Labour and Industry of the business operations.
For more information on registering a business in Spain, get in touch with 3E Accounting through our website to find out more about how we can help take your business to the next level.