Spain can be a very nice place to live in, with its lovely weather, friendly locals and reasonably affordable lifestyle. So if you’re considering moving here and opening your own business, we explain you how.
First of all, if you want to open a business in Spain, you need to have a permit to live and work here. If you are a Europen citizen, you’ll only need to obtain your tax identification number called NIE. With it you will be able to pay your taxes, as well as any other activity that requires an official process, like opening a bank account or buying a property.
If you’re not a Europen citizen, you will also need a visa and work permit.
To apply for a work permit, you have to do it at the Spanish embassy or consulate in your home country and you’ll need to provide the following documents: A business plan; Evidence that you have enough money to invest in your business and support yourself; Proof of your skills or experience; Copies of any business contracts or commissions; Any applicable license or registration; And The potential to create employment in Spain.
After obtaining this permit, you will have to prove you still fulfill all these conditions every year for the next five years. After this, you can apply for long-term Spanish resident status.
So, once you have a permit to live and work in Spain, you then need to choose your business’s legal form. There are three main options in Spain: Sole Trader; Partnership; And Limited Company.
Sole trader is the easiest, cheapest and most flexible way to start doing business in Spain and it requires doing three things: Register with the Spanish tax office; Register for social security as autonomous worker; and Get a license, if required.
As a sole trader, you will be entitled to free healthcare but since you will be self-employed, you’ll need to join a health insurance fund via the social security authorities which will also cover any dependent family members living with you.
Finally, each year you’ll need to file a personal income tax return, as well as quarterly returns. You’ll also need to keep copies of invoices and receipts for all expenses you want to deduct on your annual return. For this, we recommend consulting with our lawyers or accountants to avoid any fines or other penalties derived from failing to comply with these requirements.
If, instead, you plan to go into business with one or more people, then you can open a Partnership. The process is still flexible but a little more time-consuming and expensive.
You can choose from two types of partnership in Spain: general partnership and limited partnership, which have their own special requirements and give different rights and responsibilities. But, in both cases, you’ll need to: Include the words Sociedad Civil in your business name; Register with the tax authorities; Register for social security; Apply for licenses; and create a partnership agreement, signed before a notary.
The partnership agreement isn`t a strict requirement, though, but we strongly recommend it, since it helps to regulate the relationship between you and your business partners and it`s usually drafted by a lawyer to protect both parties.
So, if you are planning to open a company in Spain or are considering it, do not hesitate to contact LABE Abogados. Our business opening specialists will be able to advise you on what type of business suits you better and guide you along the way, facilitating the whole process for you and, if it is the case, your partners.

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