The Spanish government has recently approved new laws that aims to boost entrepreneurial and business activity.
These strategic lines of action for the new legislation include, among others, encourage entrepreneurial culture; facilitating the creation of business, reducing the time and cost to start a business, establishing support from the tax and social security authorities and financing for entrepreneurs, developing business, growths and new hiring. With all this measures the Goverment eased the process of starting a business in Spain.
DIFFERENT POSSIBILITIES TO SET UP A BUSINESS IN SPAIN
If you are interested in starting a business in Spain, you must consider that there are different possibilities to do it, such as:
. A self-employee worker who is commonly know as “autónomo”.
. Setting up a new company, a Spanish corporation or a limited company.
. Formalizing a Spanish branch or permancence establishment.
. Acquisition of shares in an existing Spanish Company.
. Through a Joint Venture with other enterprises already established in Spain.
. Conducting business trough indirectly presence in Spain, such as distribution, agency, comission and franchising agreements.
First of all, and previous to describe the features of each one, we are going to analyse the common requirements that Foreigner investors need in order to invest and / or began a business in Spain.
1. COMMON REQUERIMENTS TO FULFIL BY FOREIGNER INVESTOR WHO WANTS TO INVEST OR SET UP A BUSINESS IN SPAIN.
A) Nie Number.
According to the Spanish law, it is mandatory to obtain a N.I.E. Foreign Identification Number (for individuals) or N.I.F. Tax Identification Number (in case of legal entities) for every person who is not resident in Spain and desires to carry out any business operation in Spain and / or has professional interest in Spain. In particular, a shareholder or director of an entity resident in Spain or of a foreign entity’s permanent establishment located in Spain shall obtain a NIE/NIF.
B) Visa Permit.
A non-EU citizen who wishes to set up a company in Spain must have the necessary visa and work permits.
C) Regulated professions.
Certain professions in Spain are regulated, this means that, the people who wants to practise these professions needs to have their diplomas or qualifications recognised by Spanish Authorities, in order to exercise their economic activity in Spain. These include, among others doctors, dentists, lawyers, paramedical, accountants, teachers or engineers.