THE MAIN OBSTACLES WHEN STARTING A BUSINESS IN SPAIN

THE MAIN OBSTACLES WHEN STARTING A BUSINESS IN SPAIN

THE MAIN OBSTACLES WHEN STARTING A BUSINESS IN SPAIN

  • Posted by : Sánchez Butrón

Starting a business in Spain can become a real challenge for foreign entrepreneurs who wish to invest in our country if they do so without proper advice.

The bureaucratic obstacles can start even before travelling to Spain, as non-EU citizens need a visa to travel and another to live and work, visas which in some cases are a real nightmare due to the slowness of consulates and embassies that can take months to grant them.

Since 2013, an attempt has been made to encourage the arrival of foreign entrepreneurs with the introduction of the "Golden visa" which allows, in exchange for an investment of, for example, 500,000 euros in real estate or 1,000,000 euros in shares, to obtain a residence permit for the investor's family for two years, renewable, while maintaining the investment.

However, once they arrive in Spain, it is first necessary to obtain an N.I.E., the foreigner's tax identification number, and it is also highly advisable to request a digital certificate since all the registration processes with the Social Security or Tax Authorities are made quicker by making the applications via the telephone.

On the other hand, even if there are no longer the same language barriers as before, and even if you are fluent in Spanish, dealing with the Administration or a financial institution even to be able to open a bank account can be a very complicated procedure.   

In this sense, it is highly advisable to have a trusted and experienced advisor who can guide you through the entire process from the first minute to be able to choose with total security the most appropriate and viable option in each case. 

Knowing what the differences are between starting up as a self-employed person and as a company, as well as the main accounting, tax and legal obligations in both cases, are some of the issues in which an advisor can help you and for this, in many cases, giving you a power of attorney is the fastest way to speed up the whole procedure, as you will be able to act on behalf of the client without being required to be present at all times.

Also, it is necessary to comply with the Community regulations on Data Protection being obligatory in case of processing personal data, having to know how to collect or file such data and, above all, how to act in case one of the ARCO-POL rights is exercised by our clients.

Equally important are the regulations on the Prevention of Money Laundering, the application of which can be a real headache since, depending on the volume of operations and the number of employees, it will be necessary to appoint a representative before the SEPBLAC or to create an internal control body.

In order to comply with both regulations, it will be necessary to implement customised compliance protocols that will not only allow the company to adapt to the regulations in force and avoid significant sanctions, but will also be a seal of quality and guarantee for customers and suppliers.

Likewise, depending on the activity to be carried out, it may be essential to register a national or community trademark from the outset in order to protect the development of the business in the face of competition and to stand out in the market. 

In Sánchez Butrón Abogados we have more than 25 years of experience advising all kinds of clients, being a multicultural and multidisciplinary team, close and professional, used to work by and for the client, adapting to their legal needs even in several languages (English, French, Norwegian or Russian). We have offices in Alicante, Madrid, Los Montesions (Torrevieja), Orihuela and San Vicente.

Do not hesitate to contact us to request, without any commitment, our advice to undertake with total security in Spain, in full compliance with regulations.

https://www.expertvillas.com/viewBusiness?id=12bb89fb-466a-4dcc-91cd-e8bdbc5f89ee

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