Thread: registering a new business

hi

am sure the answer is already on here somewhere but ave not been able to find so thought i'd ask anwyway.

does anyone have personal experience of registering a new business in Spain and if so how difficult was it and how much did it cost?

have been told lots of different thing ranging from nothing to 3000 euros so any advice would be great.

thanks

Debbie

If you want to set up a Spanish SL (limited company) the price of about 3000 is correct. If you just want to be self employed then the only outlay is your Social Security about 325 euros per month.

I was told that I should also register at the Ayuntamiento, and that it would not be expensive to do so. However in the end, because I was considering working as a complementary therapist and I knew it would take a while to build up a client list, I decided that the cost of being self-employed was too high. I am eligible for free healthcare though as I receive a UK state pension, so it might be cost effective if you are under state pension age. Also, if you are likely to have a high income, the Social Security payments won't be a problem!

Sue

Originally Posted by luvspain-dp

have been told lots of different thing ranging from nothing to 3000 euros so any advice would be great.

Debbie, there are two parts...

1) The cost of setting up (lawyer or "gestoria", notary, taxes, stamp duties, etc.)

2) The "capital"

The cost can be anything around 1000 euros upwards... Some shark lawyers charge 3000-4000 euros so look out! Then there is the capital. Legal capital is 3,006 euros for an S.L.

But you don't NEED to place this capital into the company. You can place this figure by means of "aportacion de bienes" (providing assets). An S.A. company on the other hand requires 60.101,21 euros which needs to be fully allocated (to partners), with only 25% legally being required at startup.

Hope this helps!

Greg, Your 100% correct I was too lazy to type all that.
I put the 3006 in my bank got the bank certificate for that amount for the notary, signed the company escrituras and promptly spent the 3k on stock.