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NEW BUSINESS IN SPAIN
The next step is to choose the legal form that best suits your new business.
The most common forms adopted by foreign investors are Sociedad Anónima (S.A.)
and Sociedad de Responsabilidad Limitada (S.L.).
 Sociedad Anónima (S.A.) is a corporation that needs a minimal
capital stock of 60,000? of which a minimum of 25% must have been paid at the
time of incorporation and that have to be divided into freely transferable
shares. This form is similar to PLC in UK, AG in Germany, SA in France and SPA
in Italy. Sociedad de Responsabilidad Limitada (S.L.) is a smaller corporation
with a minimum capital of 3,000? that must have been fully paid at the moment
of incorporation. The S.L. is subject to lesser reporting and auditing
requirements than the SA and may not issue stock. This form is similar to the
British Ltd., the German GmbH, the French SARL and the Italian SRL.
Depending on the legal form you have chosen for your new business, there are
some slightly different steps to follow in order to incorporate your company.
First you have to pre-register the company name you have chosen for your new
business. If there is no other company registered under he same name, you will
get a Negative Name Certificate ("Certificado Negativo de Nombre") from the
Names Department of the Central Companies' Registry ("Registro Mercantil
Central, Sección de Denominaciones") within 3 days. To accelerate the process
you should think about approximately four different names in case that your
first choice will not be possible.
Then you should declare your foreign investment and register with the Foreign
Investment Registry. This formality is carried out by the public notary.
The next important step is to apply for a CIF number (Código de Identificación
Fiscal), a taxpayer's ID number to identify your new Spanish company for tax
purposes. It is only possible to apply for a CIF online at the Tax Authorities'
Office (Delegación de la Agencia Estatal de Administración Tributaria).
Once obtained your CIF number you have to open a bank account in the company's
name where you will have to pay in the company's capital.
 Go back to "Business
license in Spain"
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