Setting up a business in the Canary Islands

CREATE YOUR STARTUP IN THE CANARY ISLANDS

Feasibility plan;
Supplier search;
Local search;
Personnel Search;
Permits and authorizations;
Possible facilities and funding
Membership search;
Marketing and advertising;
Social networks and the Web;
All services and consulting in subjects, legal, business, administrative, accounting and tax;
Etc.

An Italian entrepreneur can choose different ways to operate a business in the Canary Islands:

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.

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.