En INSPIRA Workspaces We don't want to start the new year like we ended the previous one, so we've got down to work to start on the right foot, as it should be. On this occasion, we'll talk about how to create a company in Spain today.
If you are one of those who has already left behind the fateful year 2020 and want to start the year strong by setting up a business, or you are simply self-employed and are thinking of creating a company, we invite you to read this interesting post, where we will detail the steps you must take to create a company, that is, from the initial idea to its constitution in the registry.
At Inspira Workspaces we have been around for more than of 10 years helping countless freelancers and companies in the creation of their business projects. Each case is different, and it is important to analyze countless factors to decide the most appropriate strategy. The competition analysis and the market is fundamental, also the goal of entrepreneurs. Another important factor to initially analyze is the resources that we have. From Inspira Workspaces we can help you from the society Constitution with the strategy to follow in the launch of the service, sales management, labor/accounting/business/tax advice, design and development of web page, Management social media, processing of licenses necessary and payments, presentation of taxes, recruitment of work force, selection of solutions ERP, CRM y cloud storage, analysis of e-mail solutions, organization of meetings work and video conferencing, personalized telephone attention, Management correspondence and parcels, archiving of documents, flexible solutions for work physically, search of offices and adaptation of the same, etc. As you can see, a multitude of services to handle your project in a completely personalized way.
To begin with, before taking the step by step to create a company, we take the opportunity to inform you about The most common legal forms that currently exist in Spain to create a business, so that you can analyze it carefully and choose the model that best suits your needs.
We take this opportunity to inform you that these would be the most common legal forms, but there are also other solutions or formulas, such as, for example, Associations, Foundations, Economic Interest Groups, etc. If you want to know more about it before making a decision, we recommend that you read this article link, so you can see all the options available to you.
Without a doubt, another of the figures that we cannot forget is that of the self-employed. The self-employed is a person who regularly performs a job with which he earns income without the need to have a contract with the person for whom he works. In other words, self-employed workers are like individual entrepreneurs or self-employed workers, since they carry out professional activities for others without having a general employment contract.
If you are interested in this formula, don't worry, we will analyze this figure in more depth in our next post.
If you already have a clear idea of what type of company you are going to start, now it is time to get down to work with the paperwork, as we try to briefly summarize below step by step. Remember that this is simply a guide to make all these procedures easier for you; there are steps that you can complete before others, but we suggest it this way.
First step: CENTRAL COMMERCIAL REGISTRY
First of all, to open a business you will have to register it in the business register. To do this, you will have to request a negative certification of your company name from the Commercial Register, to verify that there is no other company with the same corporate name.
Second step: BANK ACCOUNT
You will need to open a bank account in the name of your company. You must deposit the share capital into it. Don't forget to request a certificate of deposit.
Third step: SOCIAL STATUTES
This document will determine the decisions that you can or cannot make in the future of your business. (transfer of shares, investments, etc.). This is a very important procedure that would be advisable to delegate to a lawyer who is an expert in the matter or to a agency.
En INSPIRA Workspaces We can take care of all these procedures without any problem. A personal advisor assigned to your business will be able to provide you with all the necessary information and help you with the documentation. Do not hesitate to contact us and ask us questions, we will be happy to help you with anything you need. If you want to capitalize on unemployment, contact us, since it is very important that you follow the steps exactly in order, if you do not, you may lose the benefit.
If you have decided to set up a Limited Company, your bylaws must include at least:
- Denomination
- Corporate purpose (the activity it carries out)
- Home address
- Share capital
- Signature of the administrator(s)
- Processes for deliberating and adopting agreements
Step four: PARTNERSHIP AGREEMENT
Among the steps to create a company from scratch, adjusting the content of the shareholders' agreement to the needs of your business will determine in the future the rules that will regulate your company's room for maneuver in relation to:
- Company administration and governance, for example: decision-making or not based on majorities.
- The functions and payment to each partner.
- The way in which shares may or may not be transferred, agents with priority for their acquisition, etc.
- Confidentiality agreements regarding sensitive information.
- The commitment to permanence and the non-competition agreement of the partners with the company.
The shareholders' agreement is a particularly relevant document when capital regulation is necessary, that is, if when opening a company it is a startup or if they are going to look for investors to finance their activity. In this way, the founding partners ensure that they do not lose control of the company.
Fifth step: CELEBRATE THE DEED BEFORE A NOTARY
This is one of the fundamental requirements for set up a company At a legal level. Public Deeds are formalized in an act that must be attended by all partners or a power of attorney must be assigned to a representative. At this point you must define a registered office, we invite you to take a look at the different formulas for Virtual Office that we can offer you in Inspira Workspaces, many of them include the use of our address for social, fiscal and commercial purposes.
To carry out this procedure, a series of documents must be presented:
- Bylaws
- Negative certification from the Commercial Registry
- The certificate from the banking entity where the share capital has been deposited
- DNI, NIE and Power of Attorney Deeds (if any of the partners do not attend in person)
Sixth step: PROVISIONAL CIF TO IAE
When you set up a company before a notary, you will be assigned a provisional CIF. You will then have to manage your registration in the IAE and submit the census form 036 or 037 to the tax office, defining a tax domicile. Keep in mind that if you are a freelancer It is normal for your tax domicile to be your habitual residence.
Seventh step: COMMERCIAL REGISTRY
Now it is time to register the Deed of Incorporation of the company in the Commercial Registry. Likewise, if you have also signed any other deed in the previous step, such as a power of attorney, you must also register it. Be very careful with the deadlines, since You have 3 months from the date of incorporation of your business to complete the procedure. We recommend that you delegate these procedures to a professional, in Inspira Workspaces we will be happy to help you.
Step eight: REQUEST FOR THE FINAL CIF
After registering your company in the Commercial Registry, you will have to request the definitive CIF from the Treasury and that's it. You will have finished with everything you need to open a business.
Additional Information
After creating your company, it is time to manage the rest of the accounting and tax obligations. The taxation of a company differs greatly from that of the self-employed or natural person. While the former pays income tax on personal income (IRPF), SMEs will tax the profits obtained during the development of their activity by corporate tax, the general rate of which is 25%, although for newly formed companies that represent the start of an economic activity, the reduced tax rate of 15% will be applied during the first two years. At Inspira Workspaces we can help you improve your taxation, benefit from exemptions, or request the aid available at any time.
Value Added Tax (VAT) is a tax that must be paid by both the self-employed and SMEs, as it is an indirect tax paid by the final consumer, in which both the self-employed worker and the company act as collectors, to periodically deliver it to the Public Treasury.
SMEs not only have tax obligations, but also accounting and registry obligations, which basically involve the legalization of these books before the Commercial Registry.
The process of setting up and starting a company is a difficult task, not because of its complexity, but because of the laboriousness of the process to formalize said constitution. If you want more information, We leave you a very interesting link from the Ministry of Industry, Commerce and Tourism of the Government of Spain, so that you can read it carefully.
For everything else, remember that in INSPIRA Workspaces We will be happy to advise you and support you in everything you need.
Good afternoon and good luck!
