What do you need to set up a business in Spain in 2022?
Updated: 5 days ago
Author: Iryna Herasimava
Date of Publication: 19/09/2022
This country really attracts many people who want to conduct their business abroad.
This desire is explained by the fact that the state's economy is projected to grow actively, and there is also a law on supporting entrepreneurs. Plus, the country occupies a worthy 30th position in the World Bank's ease of doing business ranking (out of 190 countries). And, of course, the climate, which cannot be overlooked. Therefore, I will tell you how to open a business in Spain, where to start and what steps you need to perform in this article.
Before you understand which business is better to open in Spain, you need to carefully prepare for its launch. To register a company and then open it, you need to follow several mandatory steps:
Project development and preparation of a business plan. To draw up a plan, you will need information about the type of activity, risk assessment, and financial component.
Create a company and register it in accordance with the rules established for a specific legal form. As for the administrative procedure for starting a business in Spain: the procedures and authorities where you need to apply depend on the type of your activity. For example, future owners of cafes or bars must obtain a permit to open in the General Directorate of Tourism. And travel agencies – a license from the same authority.
Or maybe buy a business in Spain?
You don't have to create everything from scratch. You can safely buy a ready-made business in Spain or purchase a franchise. Franchising is actively developing in many countries and can be convenient due to the rational systematization of work. For the future owner of the company, this is an opportunity to become part of a large promising brand, and receive support from professionals.
The second option is to open a branch of your company in the country. This business format is no less profitable and convenient for Russians. In this case, it is necessary to issue a public act and register it in the commercial register of the city.
Business taxes in Spain: what is important to keep in mind?
If you are the owner of your own company in Spain, you, of course, need to pay taxes on corporate income. Depending on the type of company and type of activity, other tax rates apply.
If you decide to start your own business in Spain, evaluate your financial capabilities and choose a niche in which you will feel confident. The country has open doors for business owners, so you have every chance to build a profitable company in this unique country. Good luck!