The length of time it takes to open a business in Spain can vary depending on several factors, such as the type of business, its legal structure, and the location. Generally, the process can take between two weeks to several months.
Here are the main steps and estimated timeframes involved in setting up a business in Spain:
- Obtain an NIE number: Foreigners wishing to open a business in Spain need to obtain a Foreigner Identification Number (NIE) first. This can take up to two weeks.
- Reserve a company name: Once you have your NIE number, you can reserve a unique company name. This process can take up to 5 business days.
- Open a bank account: You will need to open a bank account in Spain to deposit the required share capital. This can take a few days to a week.
- Draft the company’s bylaws: You will need to create the company’s bylaws and have them certified by a notary. This can take a few days to a week.
- Register the company: Once the bylaws are certified, you will need to register the company with the Commercial Registry. This process can take up to two weeks.
- Obtain a tax identification number: You will need to obtain a tax identification number (CIF) from the Spanish tax office. This can take up to a week.
- Register with social security: You will need to register your company with the Spanish social security system. This can take a few days to a week.
Overall, the process of setting up a business in Spain can take between 1-3 months. Contact us to help you with the whole process!