The step-by-step definitive guide for international entrepreneurs and foreign investors who want to set up a company in Spain.
Spain has become one of the most attractive destinations for entrepreneurs and foreign investors who are looking to expand into Europe and, at the same time, begin building a bridge with LATAM. With a diversified economy, exceptional quality of life, legal stability, and a growing business ecosystem, the country offers unique advantages for startups, family businesses, holding companies and commercial projects.
For non-EU citizens —from the United States, Latin America, the Middle East, and Asia— starting a company in Spain is a completely viable process, even without living in the country. With proper legal, tax and corporate planning, you can incorporate a Spanish company and start operations in a matter of weeks.
In this comprehensive guide, we explain how to create a company in Spain step by step, which documents you need, what the main benefits are, the usual timelines, frequent mistakes, the ideal corporate structure, key tax considerations, and a complete checklist so you can move forward with clarity.
We also invite you to watch the video discussed in this article and to book a consultation with our team by writing to info@vbilc.com.
At Vázquez & Barba International Legal Consultants, S.L.P., we support business owners and investors from more than 40 countries in establishing themselves in Spain in a safe, strategic and efficient way.
In this article you will find answers to the following topics:
- Can a non-resident foreigner create a company in Spain?
- Main advantages of doing business and starting a company in Spain in 2025
- Types of companies most commonly used by foreign investors
- Requirements to open a company in Spain as a foreigner
- Step-by-step: how to incorporate a company in Spain – complete guide
- Required documents
- Checklist for international investors
- Typical timelines for the process
- Residence permit and its connection to company formation
- Frequently asked questions
1. Can a non-resident foreigner create a company in Spain?
Yes. Spanish law allows any foreign citizen, regardless of nationality or place of residence, to incorporate a company in Spain.
It is not necessary to:
- Have Spanish nationality
- Have legal residence in Spain
- Be physically present in Spain during the whole process
The only essential requirement is to obtain:
NIE (Número de Identificación de Extranjero – Foreigner Identification Number)
The NIE is a tax identification number that enables a foreigner to carry out economic and business activities in Spain, such as signing deeds, being a shareholder, acting as a director, opening bank accounts, etc.
At Vázquez & Barba, we manage NIEs for clients all over the world through notarised or consular powers of attorney.
2. Advantages of starting a business in Spain in 2025
Spain combines a strategic geographic position, direct access to the European market and a reliable legal environment. These are some of the most relevant advantages for setting up a company in Spain as a foreigner:
- Access to the European market of 450 million consumers
A Spanish company allows you to operate without internal borders within the European Union, issue intra-EU invoices, hire European talent and facilitate international trade across Europe and beyond.
- Competitive corporate tax rate (23%)
For small and medium-sized companies, Spain offers a reduced corporate income tax rate compared to other European countries. There are also incentives and tax benefits for new and innovative companies.
- Growing business ecosystem
Key tech and business hubs: Barcelona, Madrid, Málaga, Valencia.
Sectors with strong growth: renewable energy, real estate, premium tourism, export businesses, technology and logistics.
- Affordable company formation cost
A Sociedad Limitada (S.L.) – Spanish Limited Liability Company can be incorporated with €3,000 in share capital, which can later be used for operational expenses of the company.
- Possibility to manage everything remotely
For non-EU citizens, Vázquez & Barba can coordinate the entire process through international notarised powers of attorney — a process in which we are highly experienced. You can set up a company in Spain without travelling if your structure and documents are well planned.
- Excellent quality of life and migration benefits
Creating a company can be a strategic first step towards applying, if you wish, for different residence permits in Spain, such as:
- Entrepreneur visa
- Start-Up visa
- Self-employed residence permit (residencia por cuenta propia)
3. What type of company is best for foreigners?
Although there are several legal forms available in Spain, the most efficient and commonly used structure for international investors and foreign entrepreneurs is:
Sociedad Limitada (S.L.) – Limited Liability Company
Main advantages:
- Strong and solid business reputation
- Limited liability, capped at the capital contributed
- Minimum share capital of €3,000
- Flexibility for one or multiple shareholders
- Agile management and clear tax regime
- Suitable for startups, holding structures, real estate investment vehicles and consulting companies
Other, less common structures for non-resident foreigners:
- Sociedad Anónima (S.A.) – Public Limited Company, with a minimum share capital of €60,000
- Permanent establishment / branch
- Self-employed (autónomo) – only recommended if you first obtain a residence permit for economic activity in Spain
4. Requirements to open a company in Spain as a foreigner
Although each case is unique and should be analysed individually, the general requirements to open a company in Spain as a non-resident foreigner include:
- Obtain a NIE
This is the first mandatory step for all shareholders and directors.
- Valid passport
Your passport must be valid and must match the signatures used in notarial documents and powers of attorney.
- Tax identification number for non-residents (NIF for non-residents)
In some cases, the Spanish Tax Agency assigns this number as part of the process.
- Address in Spain for notifications
This can be the registered office of the company or the professional address of the law firm representing you in Spain.
- Opening a business bank account in Spain
The company’s share capital is deposited in this account and the initial operations are managed from there.
5. How to create a company in Spain step by step
Below is the full procedure, optimised for non-resident foreign investors and international entrepreneurs who want to set up a company in Spain.
Step 1: Apply for the NIE
Without a NIE, it is not possible to sign the incorporation deed before a Spanish notary.
The application can be filed:
- In Spain
- At a Spanish Consulate abroad
- Via power of attorney – at Vázquez & Barba we prepare and manage the necessary powers for international clients
Estimated time frame: 2–4 weeks, depending on the country and consular workload.
Step 2: Choose the type of company and corporate structure
Define:
- Type of company (for example, S.L. / Limited Liability Company)
- Percentage of ownership of each shareholder
- Director(s) or managing body
- Management system (sole director, joint and several directors, or joint directors)
Step 3: Request the company name certificate
The Mercantile Registry (Registro Mercantil) issues a certificate confirming that your chosen company name is available and can be used.
Estimated time frame: 1–3 days.
Step 4: Open a corporate bank account in Spain and deposit the share capital
The bank will issue a certificate confirming the deposit of the share capital.
Minimum capital: €3,000.
If you are not physically in Spain, this step may require legal representation or prior coordination with the bank.
Step 5: Draft the deed of incorporation
The deed of incorporation (escritura de constitución) includes:
- Articles of association (estatutos sociales)
- Identity of all shareholders
- Management structure and powers of the directors
- Capital contributed
- Corporate purpose (business activity) and registered office
Vázquez & Barba will draft tailored articles of association adapted to:
- International investors
- Foreign subsidiaries and group structures
- Real estate investment vehicles
- Holding structures and asset-protection vehicles
Step 6: Sign before a notary, in person or via power of attorney
You can:
- Sign personally before a Spanish notary in Spain
- Sign via power of attorney from your home country
- In some cases, use electronic signatures depending on the specific context and requirements
The notary will issue the public deed of incorporation of the company.
Step 7: Obtain the provisional and final NIF
The NIF (Número de Identificación Fiscal) is the tax identification number of the company in Spain.
- Provisional NIF: usually obtained the same day or within 48 hours
- Final NIF: generally issued within 2–4 weeks
Step 8: Register the company with the Mercantile Registry
Registration with the Mercantile Registry grants the company full legal personality.
Estimated time frame: 7–10 days.
Step 9: Registration with the Spanish Tax Agency and Social Security
This includes:
- Filing the declaration of commencement of activity (form Modelo 036)
- Registration for VAT (if applicable)
- Registration of the director or managing director in Social Security (if they are a resident and required to be registered)
Step 10: Obtain sector-specific licences or permits, if applicable
Examples of economic activities that require specific licences or municipal permits:
- Restaurants and hospitality businesses
- Healthcare and medical services
- Construction and real estate development
- Transport and logistics
- Retail trade and certain commercial activities
Step 11: Start operations
Once all the above steps have been completed, the company is fully operational and can:
- Issue invoices
- Hire staff
- Sign contracts
- Open offices and branches
- Carry out its commercial or investment activity in Spain and across the EU
6. List of required documents
- Valid passport
- NIE for each shareholder
- Company name certificate (denominación social)
- Bank certificate for share capital deposit
- Notarial power of attorney (if signing from abroad)
- Deed of incorporation
- Articles of association
- Company NIF (tax identification number)
- Initial tax forms and registrations
7. Definitive checklist to create a company in Spain (2025)
✔ Obtain NIE
✔ Define the corporate structure
✔ Request and reserve the company name
✔ Open a business bank account in Spain
✔ Deposit the share capital
✔ Draft the articles of association and deed of incorporation
✔ Sign before a notary (in person or via power of attorney)
✔ Apply for provisional NIF
✔ Register the company with the Mercantile Registry
✔ Obtain the final NIF
✔ Register the company with the Tax Agency (Hacienda)
✔ Obtain sector-specific licences if applicable
✔ Start business operations
At Vázquez & Barba, we take care of absolutely every part of the process for you until your company is fully operational.
8. Usual timelines
With complete documentation:
- 2 to 4 months is a realistic overall timeframe for many non-resident foreign clients, depending on the complexity of the structure and the speed of consular and administrative procedures.
With consular powers of attorney and more complex international coordination:
- 4 to 8 months, depending on the country, consulate workload and banking procedures.
Vázquez & Barba will guide you throughout the process so that you do not repeat steps, avoid common mistakes and ensure that the incorporation of your company in Spain moves forward smoothly until it is 100% constituted.
9. Do you need a residence permit to open a company in Spain?
No.
You do not need to be a resident in Spain to incorporate a company or to be a shareholder.
However:
- If you want to work personally and actively in the company in Spain → you will need a residence permit.
- If you are a passive investor and do not live in Spain → you do not necessarily need a Spanish residence permit.
Residence options if you want to live and work in Spain:
- Entrepreneur visa
- Highly qualified professional visa
- Start-Up founder visa
- Self-employed residence permit (autónomo / cuenta propia)
Vázquez & Barba manages all these immigration processes in an integrated and strategic way, aligning business, tax and immigration planning.
10. Frequently Asked Questions
Can I open a company in Spain if I do not live in Spain?
Yes, you can incorporate a company in Spain even if you live abroad. You only need a NIE and appropriate legal representation.
How much does it cost to open a company in Spain as a foreigner?
- Minimum share capital: €3,000
- Notary and Mercantile Registry fees: approx. €400–800, depending on the city and the complexity
- Legal fees: request your personalised fee proposal by sending an email to info@vbilc.com
- Special permits or licences: depends on the sector and the activity
Can I manage my Spanish company from abroad?
Yes, absolutely. It is both legal and very common for non-resident foreign shareholders and directors to manage a Spanish company from their home country, especially when they have the support of a specialised law firm.
How long does it take to create a company in Spain?
From the first step (NIE, corporate planning, powers of attorney, banking) to full registration, the average timeframe is between 4 and 8 months for non-resident foreigners, depending on each case.
Do I need a resident director in Spain?
No, a resident director is not mandatory. However, depending on the tax and immigration strategy, it may be advisable to analyse the structure with specialised legal and tax advice.
11. Do you want us to guide you through the process?
Creating a company in Spain is straightforward when it is done with the right structure and professional guidance.
At Vázquez & Barba International Legal Consultants (VBILC) we advise business owners and investors from the United States, Latin America, the Middle East, Asia and Europe on:
- Company formation in Spain
- Real estate and property investments
- International tax planning
- Golden Visa and investor residency
- Business migration and relocation
- Corporate structuring and asset protection
Our team handles the entire process from start to finish, so you can focus on your strategy and business growth.
📩 Book a consultation by writing to: info@vbilc.com
And don’t forget to watch the video recommended in this article to visually understand the step-by-step process of creating a company in Spain as a foreign, non-resident investor clicking here:
