Global Business Service Agency: legal services for business
Global Business Service Agency provides services in the field of tax optimization. Our experienced professionals help clients with the opening and maintenance of offshore companies and opening bank accounts. GBS Agency organizes and supports the work of companies on all continents.
Spain is a state that in 2017 is among the top 20 largest countries in the world in terms of GDP ($1 311.321 bn). In this case, the increase in the level of GDP is achieved by the country due to small and medium-sized businesses, which, according to statistics, in Spain 99.8%. Moreover, the lion's share of these companies is incorporation. What attracts international business jurisdiction?
Why it is worth to open a business in Spain: conditions and opportunities for entrepreneurship
- Up to 25% of the SME jurisdiction is engaged in trade, the rest prefer tourism, real estate transactions, and the last 5 years more and more relevance is gaining gaming business.
- Due to membership in the EU, all trade companies of the Kingdom can conduct business with signatories countries on concessional terms – without customs duties.
- The state has an extensive system of grants, quotas and benefits for the new business. Also in Spain there is a profitable system of business crediting-from 4.5% per annum for a period of up to 10 years.
- The tax system of the State shall include such contributions and Fees:
- Corporate income tax – up to €120 thousand. – 25%, over €120 thousand. – 30%;
- Increase in profit from sales – 18%;
- VAT – 4-21%;
- Tax at the source – 15%;
- Property tax – 7%;
- Tax on gift and inheritance transactions – 5-34%;
- Tax on transactions with property – 0, 5-6%;
- Social corporate contributions – 30.6%.
- The state has signed more than 50 agreements for the avoidance of double taxation, which allows incorporations to be used by firms in Spain to optimize the tax system or for agency schemes.
- All companies in Spain, regardless of residency, are obliged to submit financial statements, tax returns and undergo annual audits.
Company registration in Spain: incorporation requirements
To open a company in Spain is best in 2 most advantageous forms: Sociedad Anonima (S.A.) and Sociedad de Responsabilidad Limitada (S.L.). To open both organizational and legal forms will require at least one founder with any residence and form of management, as well as at least one director-a citizen of the kingdom (allowed to attract entities). Shareholders can fulfill the obligations of the Director, but this requires the citizenship of the country of registration.
For S.A. the minimum amount of the authorized capital is €60 thousand, which must be paid at least by 50% by the time of registration of the company in agencies. For S.L., the minimum statutory fund is €3 thousand, which must be paid in full by the time of the company's incorporation into register.
In both forms of the organization, it is permissible to issue all types of shares, but for S.L. prohibited bearer shares.
The minimum package of documents varies from the form of organization of business and sphere of activity of the company.
The cost of opening a new company is from €3 800. For services of nominal service and a package of apostilled documentation, check with specialists of GBS Agency.
Do you want to get tax benefits for incorporation or residence permit in Spain? Learn from our specialists how to do it for your business! Get a consultation right now!