Spain´s special climatological conditions, its people, customs, gastronomic culture or simply, its fabulous sunshine, makes it a unique country to live in, attracting millions of people yearly.
Despite the differences between the northern and the southern regions, the whole country has a typical Mediterranean climate being, mild during winter and, hot and dry in summer. The combination of those aspects, conceives Spain as a country with an exceptional quality of life.
This summer, our airports have received approximately 12 passengers per second. It has been a record summer in our history receiving in total, 50.8 million of foreigners’ visitors. This has provoked a rapid growth of importations and exportations making Spain a leading European country with an international oriented mind.
It is a full member of the European Community since January 1986, being a gateway for North Africa and Latin America with a high percentage of Spanish companies established there, due to the ties existing between them.
Setting up a company has become simpler and faster than ever and, because of that, the number of international companies in Spain has increased significantly in the last decade. The types of businesses have been equated to those existing in the OCDE countries and, there is also a wide range of options for certain kind of people under special circumstances. We highly recommend you to read our post related to the last entrepreneurship regulation in Spain.
There are multiple ways from which an investor can choose to start a professional activity in Spain, from opening a branch to, forming a Spanish company, associating with businesses already established… However, the most typical one is to set up a company from scratch. This could be seen at first sight as a very complicate process but, as said before, our legislation has adapted the procedure to make it more agile, attracting employers in order to reduce unemployment.
In case we are looking for a flexible option, with a not very high initial capital required, and with limited liability then, one of the best options would be a Limited Liability Company. As one of the most common options for legal entities in Spain, it gives shareholders leeway to define and to modify internal rules of governance. Requires a minimum capital of 3.000€ that has to be paid on the same day the company is formed however, it may be subscribed by monetary contribution, as well as by non-monetary contributions giving a wide range of action to the shareholders.
One valuable advantage of a S.L (Spanish abbreviation for “Limited Liability Company”) is that fulfilling certain requirements, forming procedure can be done telematically, saving costs and needed documentation. Current legislation requires amongst others, the application for a “Tax Identification Number” and a “Foreigner Identification Number”. Both must be applied when a foreign investor make a direct inversion.
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