EMC CANARIAS
FORMING A COMPANY IN THE CANARY ISLANDS
Our service offers comprehensive assistance in setting up a business in the Canary Islands under Spanish law.
We provide specialized advice and support at all stages of the incorporation process, ensuring that all legal and bureaucratic requirements are completed correctly.
Here is a list of the main features and services included in our service:
An Italian entrepreneur can choose different ways to operate a business in the Canary Islands:
- Company under Spanish law
with its own legal personality
- Sociedad anónima (S.A.)
- Sociedad de responsabilidad limitada (S.L.)
- Physique Person
- Development of business or professional activity directly by the individual.
- Branch office
- Entities that do not have their own legal personality, so their activity and legal responsibility will always be directly related to the parent company of the foreign entrepreneur.
- They are registered in the Mercantile Registry.
- Joint-Venture
- Associations with other entrepreneurs already established in Spain.
- Several forms of Joint-Venture can be distinguished in the Spanish legal system.
- The most important ones are:
- Temporary Union of Enterprises (U.T.E.)
- Economic interest group (A.I.E.)
MAIN CHARACTERISTICS OF A COMPANY UNDER SPANISH LAW
- The main corporations in Spain are the Joint Stock Company (SA) with minimum capital of €60,000 and the Limited Company (SL) with minimum capital of €3,000.
- SLs and SUs enjoy limited liability, are 100% Spanish law qlike any Spanish company and whatever your nationality or where you are resident.
- Corporations can also be single-member.
- A fiscal representative is not needed.
- You need the N.I.E. (Número de Identificación de Extranjeros) which is essential to perform any act in Spain.
- Capital, upon incorporation, in SLs must be fully paid up while in SAs only 25% can be paid up.
- A company director is required to pay contributions as a self-employed person (Seguridad Social).
- The administrator may also be a nonresident.
- But if the company is to register with the ZEC consortium, at least one of the directors must be a resident.
OUR SERVICE OF INCORPORATION OF A COMPANY UNDER SPANISH LAW IN THE CANARY ISLANDS
- Counseling in corporate matters;
- Membership NIE request;
- Request N.I.E. administrators;
- Registration of partners and directors tax registry;
- Mercantile Registry entry;
- Opening bank account;
- Capital payment certificate;
- Assistance in the preparation of the corporate purpose with the possibility of engaging in various activities;
- Assistance at the notary's office in drafting the Articles of Incorporation and Memorandum of Association;
- Assistance with the signing of the notarial deed;
- Royal Holder Statement;
- Possible notarized power of attorney for assistance at public offices;
- Payment of costs and notary fees;
- Request for NIF (company tax number);
- Opening company tax position;
- IGIC opening;
- Opening social security and welfare position ("Seguridad Social") for the administrator;
- Plant Accounting;
- Registration of the company with the Mercantile Registry;
- Assistance in converting bank account to final and operating account with debit or credit card issuance.
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