Spain is an ideal place to do business for a number of reasons. Firstly, because of its cosmopolitan environment and its favorable political and legal openness towards sound foreign investments. Additionally, the controls set forth by the notarial and registration system provide a two tier control of legality that is almost unique. Thirdly, because Spanish companies can also benefit from the Spanish Holding regime, granting tax benefits to Spanish companies controlling (and receiving profits from) their international operations. This regime has been in place for a number of years now and has suffered almost no changes since it was first implemented towards the end of the last century.
IBCF Services in Spain
- Entity Formations and Foreign Registrations
At first glance, forming a company in Spain may seem intimidating, but clients should be aware that state regulations derive from the need to comply with international money laundering rules and international tax regulations aiming at assuring entrepreneurs a safe and supporting business environment. Any roadblocks can be easily overcome through professional legal and tax advice which allows clients to identify the most suitable legal and business structure.
Spain features a number of different corporate legal forms, out of which the Joint Stock Company (Sociedad Anónima, or SA) and the Limited Liability Company (Sociedad Limitada, or SL) are the most common. Generally speaking, SAs are intended for large businesses while SLs currently account for more than 90% of all new incorporations.
Depending upon the specific requirements, an investor may also have the option of incorporating a branch of a foreign company. Branches are more flexible than local corporations both in legal terms and in terms of internal corporate financing.
Companies must have a registered address which normally also acts as the fiscal address of the company; the fiscal address identifies the local jurisdiction where tax obligations must be met. (However, companies can open and maintain branches or delegations in other provinces or regions.) Companies must be registered at the Mercantile Register of their province of incorporation, which keeps the so called “Company Sheet”, a register of corporate events from the day of incorporation.
Depending upon their structure, Spanish legal entities are subject to different (mostly quarterly) tax filings, book keeping and social security registration of employees, all of which can be handled through knowledgeable accounting, tax and social security advisory firms. We can assist to identify the appropriate advisors for the client’s kind of entity and business. Of particular importance is the need to produce and approve the Annual Financial Statements (called Annual Accounts) on a yearly basis. Failure to do so would result in the closure of the Company Sheet
- Registered Agent/Registered Office
For additional information about this service, speak with a corporate specialist directly at +1 845 398 0900 or complete the contact form and a corporate specialist will contact you shortly.
- Document Retrievals (i.e Good Standing, Certified Copy)
All corporate documents, including the issuing of certificates equivalent to Certificates of Good Standing, are witnessed and certified by the Mercantile Registrars. The specific contents of the certifications must be discussed in advance to ensure that they will meet the client’s needs.
Spain is party to the Hague convention thus accepts and grants apostilles. IBCF can assist with obtaining apostilles and all other notarial services in Spain.
- Due Diligence Searches (i.e Lien, Judgment, Bankruptcy)
Due diligence searches available in Spain consist of insolvency registrations, judgment searches, pending litigation and debts owed to tax. It is possible to customize a Spanish search report.
Doing business in a foreign jurisdiction is time consuming enough, let alone the corporate governance and reporting that goes with it.
Partnering with IBCF as your single point of contact can assure you that your critical corporate compliance requirements are handled in a timely, expeditious and cost conscious manner.
An overview of our corporate compliance offerings include:
• Manage yearly jurisdictional compliance requirements and information
• Preparation and filing of statutory filings with corporate registry
• Maintenance of corporate information on compliance specific platform
• Due date tracking capabilities
• Maintain company shareholders and minutes
• Prepare board and/or shareholder resolutions
• Prepare and file audit documents related to corporate changes
• Prepare and file director, officer and shareholder changes
• Prepare meeting documents
• Registered Agent/Registered Office
*Availability of Services are subject to change
For additional information and pricing about our corporate compliance offerings, please contact us and a compliance specialist will contact you shortly.