FAQ
Business Law
- NIE/NIF for founders and directors.
- Corporate name inquiry.
- Bank account.
- Minimum share capital of 3.000 euros for a LLC, and 60.000 euros for a joint stock company.
- Company constitution act before notary public.
- Registration of the company before the Companies Registration Office.
- Tax and social security formalities.
Yes. You, however, may be obliged by the bank to sign documents in person (depending on your nationality and the rules valid on the date of opening).
In some cases, it is more beneficial for dividend tax to set up a company by a legal person from other jurisdiction.
No, however, if the director is not a resident, he shall assign a representative or a CEO among Spanish residents.
If the director is not a Spanish resident, he shall assign a representative. Also, in case of permanent establishment or a simple account opening, a tax representative shall be assigned.
NIE is a tax number of a natural person, which is necessary for almost all legal actions in Spain.
NIF is the same as NIE for a natural person, and for a legal person NIF is a tax number.
CIF is the former name of NIF for legal person.
Yes, and directors and shareholders may be held subsidiary liable, as well as other companies of the group.
The general rule is that the minimum share capital for a LLC is 3.000 euros, and for a joint stock company is 60.000 euros. However, certain exceptions may be applied. For example, for investment companies (2.400.000 euros), for a transportation LLC (60.000 euros), capital risk companies (from 1.200.000 euros).
Yes, the director may be held liable for not applying for bankruptcy or if he applied outside the time limit (2 months).
Yes, director of a Spanish company bears corporate, civil, administrative and criminal responsibility.
Yes, both companies and natural persons can be declared bankrupt under Spanish legislation.
“Gestor” is an accountant of the firm and shall be distinguished from a tax counselor who is responsible for better tax structuring and tax assistant in general.
You shall be ready for a 30-40 days procedure. Also, it is possible to expedite the registration procedures if it is done through PAE.
Qualified attorneys may be registered in a PAE database and may constitute a company within a shorter time frame. Our attorneys are registered with PAE.
