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Thread: Setting up new company

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    Setting up new company

    HELP NEEDED !!
    Can anybody advise on the best company to contact regarding advice on the formation of a new company trading in the service sector. starting in Tenerife and then expanding to the other islands.
    Thanks

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    Re: Setting up new company

    you could try marcos Cabrerra, they are based in los Cristianos, they are an accounting company but i am sure that if they cant help they will point you in the right direction, You could also try Goldenmaniac on here again she will point you in the right direction if its not here field.

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    Re: Setting up new company

    Hello,

    You want an "autónomo" or an limited company?

    Regards,
    Legal Tenerife Abogados y Asesores Law Firm offers a full range of legal services. Our lawyers provide legal assistance and defense in relations with the Spanish Courts or any other entities, public or private.
    www.legaltenerife.com 0034/671819262

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    Re: Setting up new company

    I'd like to hear about a limited company and maybe a bit about autonomo.

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    Re: Setting up new company

    Thanks for your posts but what's a autonomo. It's a new one on me. ?

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    Re: Setting up new company

    I think it means "Self Employed"

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    Re: Setting up new company

    Hello,

    Kingbaker is right, an "Autónomo" means self employed. This means that you declare in front of the Tax Agency and Social Security that you are conducting an economic activity. The disadvantage is that you work with your name and therefor in case of anything goes bad, you will be responsible with all that you own, in Spain or other country
    A limited company is a different commercial entity, that is separate from it´s associates, and therefor you can conduct a business without mixing your personal life with your professional one.

    Regards,
    Legal Tenerife Abogados y Asesores Law Firm offers a full range of legal services. Our lawyers provide legal assistance and defense in relations with the Spanish Courts or any other entities, public or private.
    www.legaltenerife.com 0034/671819262

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    Re: Setting up new company

    Hi, Legal Tenerife, maybe you could do a short paragraph on the set up of a Limited Co. How many Directors etc. Share Capital etc.

    In Ireland we got a whole new Company Law Act a month or so ago, so anything I thought I knew, I don't know anymore.

    The new Act I believe, is a three hundred odd page legal document and I haven't even seen it yet.

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    Re: Setting up new company

    This article belongs to Legal Tenerife Abogados y Asesore©. For more free legal articles about spanish law, plese visit our website.

    The creation of a trading company in Spain.

    Lately many of our clients have asked for legal assistance in the procedure of creating a company with limited responsibility or S.R.L. So we have decided that this month we shall publish an article about the above mentioned theme.
    Firstly, we must establish what is this S.R.L. This type of company has as it’s main characteristic that in case of debt accumulation the associates will only answer to their creditors with the company’s assets.
    This kind of company can undertake all sort of activities, of course excepting the ones that are reserved by law to other types of entities, for example it can not operate in the banking field or pharmaceutics.
    To get started you will need a “Name Certificate”. This document will be issued by the Spanish institution calle Registro Mercantil Central and is proof that there is no other company with the same name.
    The next step is to open a bank account in the name of the new company. We recommend that you choose your bank wisely and ask for possible programs that these entities might have in order to support this type of companies.
    Once you have fulfilled all the previous requirements you will need to draw up the Articles of Incorporation (estatutos social). This document is essential in creating a company and we pay special attention to it because this is the deed that represents the ensemble of rules that will govern your business and regulate how your company will function. Because of its complexity preferable that you contact a professional to help you with this document.
    Being in possession of all the aforementioned papers, you will need to go to a notary in order to accomplish the next phase which is the redaction of the corporation deed (Escritura de constitucion). For the notary to conceive this document you will need the following:
    1. The Name Certificate
    2. Articles of Incorporation (Estatutos social)
    3. The proof of the deposit in the bank of the company’s assets.
    4. The identity documents of the associates
    5. And in special cases, the foreign investment certificate.
    Having all the documents mentioned so far, you will have to present them to your local financial administration to request the temporary fiscal identification number for your company and to deal with all the procedures required for establishing the tax category and other fiscal obligations.
    Last edited by Legal Tenerife; 16-09-2015 at 22:31.
    Legal Tenerife Abogados y Asesores Law Firm offers a full range of legal services. Our lawyers provide legal assistance and defense in relations with the Spanish Courts or any other entities, public or private.
    www.legaltenerife.com 0034/671819262

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    Re: Setting up new company

    Quote Originally Posted by Legal Tenerife View Post
    This article belongs to Legal Tenerife Abogados y Asesore©. For more free legal articles about spanish law, plese visit our website.

    The creation of a trading company in Spain.

    Lately many of our clients have asked for legal assistance in the procedure of creating a company with limited responsibility or S.R.L. So we have decided that this month we shall publish an article about the above mentioned theme.
    Firstly, we must establish what is this S.R.L. This type of company has as it’s main characteristic that in case of debt accumulation the associates will only answer to their creditors with the company’s assets.
    This kind of company can undertake all sort of activities, of course excepting the ones that are reserved by law to other types of entities, for example it can not operate in the banking field or pharmaceutics.
    To get started you will need a “Name Certificate”. This document will be issued by the Spanish institution calle Registro Mercantil Central and is proof that there is no other company with the same name.
    The next step is to open a bank account in the name of the new company. We recommend that you choose your bank wisely and ask for possible programs that these entities might have in order to support this type of companies.
    Once you have fulfilled all the previous requirements you will need to draw up the Articles of Incorporation (estatutos social). This document is essential in creating a company and we pay special attention to it because this is the deed that represents the ensemble of rules that will govern your business and regulate how your company will function. Because of its complexity preferable that you contact a professional to help you with this document.
    Being in possession of all the aforementioned papers, you will need to go to a notary in order to accomplish the next phase which is the redaction of the corporation deed (Escritura de constitucion). For the notary to conceive this document you will need the following:
    1. The Name Certificate
    2. Articles of Incorporation (Estatutos social)
    3. The proof of the deposit in the bank of the company’s assets.
    4. The identity documents of the associates
    5. And in special cases, the foreign investment certificate.
    Having all the documents mentioned so far, you will have to present them to your local financial administration to request the temporary fiscal identification number for your company and to deal with all the procedures required for establishing the tax category and other fiscal obligations.
    thank you for the info, do you know if its true an S.L.company formed only to own property and does not trade can be transfered to private
    names under some kind of amnesty set up by the Spanish Gov.annual accounts are submitted to hacienda and mercantil.thanks

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