Setting up a business in Spain
Setting up a business in Spain
- Legal personality
- Branch or permanent establishment
- Participation in entities
- Venture capital
Entity without separate legal personality. No limit on the liability of the parent company.In general terms, the requirements, procedural formalities and costs of opening a branch in Spain of a foreign company are very similar to those for the formation of a subsidiary (as a company). The main legal steps and costs are summarized below, highlighting the main differences with respect to the formation of a subsidiary.
Acquisition of shares, real estate located in Spain or acquisition of company. Documentation to be provided to the notary: Title to the shares being transferred. Powers of attorney, as the case may be, to appear in the name of the buyer or seller, as appropriate. NIE/NIF or Spanish national identity card of the buyer and the seller Declaration regarding the beneficial owner, from both the buyer and the seller. Documentary evidence of payment and how the payment was made (specifically, if the price was received before execution of the deed, the amount and whether it was paid by check or any other money transfer document, or by bank transfer).
Another way to invest in Spain is to take up temporary stakes in the capital of companies established in Spain (i.e. non-real estate, non-financial and unlisted companies) by forming venture capital entities. Venture capital is defined as those investment strategies that channel financing directly and indirectly to companies, maximize the value of the company through management and professional advice, and divest from the company with a view to earning high gains for the investors. Through this channel, it is possible to invest both in start-up business projects (venture capital), and in already mature companies with a proven track record of profitability (private equity). The current regulation of venture capital in Spain, contained in Law 22/2014 of November 12, regulating venture capital entities, other closed-end collective investment undertakings and the management companies of closed-end collective investment undertakings (the “Venture Capital Law”), relaxes the legislative framework for these entities with, among others, the aim of helping them to raise more funds to be able to finance a larger number of companies.
Fiber optic homes
Distribution of the main exports and imports in Spain
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Héctor Iáñez Braojos
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José García Tejada
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