Company Formation

Forming a Limited Company or an ‘Sociedad Limitada’ in Spain can have benefits when purchasing a business in the Canary Islands. Running your business through a Company provides protection to the individuals running the company on many forms of litigation. For example, if you were unlucky enough to lose a staff dispute then the liability lands with the Company and not its shareholders (owners). Intelligent Business Sales offer this unique service as part of our buying packages.

Many clients are unsure as to how to form a company in the Canary Islands as the incorporation process in Spain can be a little more bureaucratic than some other European countries, however, the fiscal incentives are some of the most advantageous in the European Union the benefits clearly out-weigh the time required to incorporate.

What you need to know!

All Spanish & Canary Island companies are incorporated in front of a public notary. This is achievable by signing in person, or, issuing a Power of Attorney for us to be able to incorporate the Company on your behalf. We can provide this service through our multi-lingual staff and can prepare all documents on your behalf.

Once the Formation of your company has been concluded you will receive the following:-

      Articles of Incorporation
      Cif Number (Corporate Spanish Tax Number)
      NIE Numbers for Shareholders (Personal Spanish Tax Numbers)
      Notarised Shareholder Agreements
      Corporate Bank Account
      Corporate Debit & Credit Cards (In the name of the Administrator/Resident Director, and Authorised Financial Controllers)

The minimum share capital which has to be temporarily deposited in your corporate bank account is €3,000. Intelligent Business Sales can normally complete an incorporation within a 4-6-week period. This can be shorter or longer depending upon response time from Public Offices and ensuring the client provides all documentation in full upon request.