Company Setup in Spain and Business Bank Accounts
Company setup in Spain gives a foreign group a base inside the European Union and a natural bridge to Latin America. We form the Spanish company, prepare its owners for European due diligence, and plan the bank account before it becomes the obstacle.
About Spain as an entry point to Europe
Spain is the fourth-largest economy in the eurozone and a full member of the European Union single market. A Spanish company can sell across the EU on the same terms as any European business, and Spain’s language, law and long ties with Latin America make it a natural link between the two regions.
The rules for forming a company have become simpler. Since 2022 a limited company can be formed with share capital of one euro, and newly formed companies pay a reduced corporate tax rate in their first profitable years. At the same time, Spain is moving to mandatory electronic invoicing between businesses, under a regulation published in March 2026.
Spain also applies European anti-money laundering rules in full, and banks here treat a new company with foreign owners as a case for closer review. The EU’s single AML rulebook applies from July 2027 and will make that scrutiny more uniform, not lighter.
Corporate income tax
25% general rate, 15% for new companies in their first two profitable years, and lower rates for small businesses.
VAT at three rates
21% standard, with reduced rates of 10% and 4% on specified goods and services such as food, housing and books.
Minimum share capital
A Spanish limited company can be formed with one euro, with extra conditions applying until capital reaches 3,000 euros.
Euro and EU payments
Spain uses the euro and the SEPA payment system, so payments across the EU move as easily as domestic ones.
Company setup in Spain: the Spanish SL
Company setup in Spain almost always means a sociedad limitada, or SL, the Spanish limited company. Formation runs through a notary and the Companies Register, and every step depends on identification that foreign owners often do not yet have.
Foreigner identity numbers
Each foreign director and shareholder needs a Spanish identification number, the NIE, before the company can be formed.
Name and notarial deed
Reserving the company name, then signing the deed of incorporation and articles of association before a Spanish notary.
Registry and tax number
Registering the company with the Companies Register and obtaining its definitive tax identification number, the NIF.
Beneficial owner filing
Declaring who ultimately owns or controls the company, generally anyone holding more than 25%, to the central register.
Where the shareholder is a foreign company, its documents need an apostille or legalization and a sworn Spanish translation. Most delays come from these papers and the NIE, not from the registry itself.
We arrange the formation through Company Formation and Market Entry. When the Spanish SL will sit under a holding company in the UAE or Mauritius, Holding Companies and SPVs covers whether that structure works for European banks and tax authorities.
Bank account opening in Spain
In Spain, opening an account is at the bank’s discretion, and incorporation does not oblige any bank to accept a company. A new SL with foreign directors, a foreign parent and expected payments from outside the EU will be reviewed under enhanced due diligence.
We assemble those four elements into a single file before the first bank meeting, and choose the bank whose risk appetite suits the company’s trade and owners. Spanish banks keep the final word, and nobody can promise otherwise. We make sure the decision rests on complete information.
Corporate Banking and Account Opening Support covers the application, and Cross-Border Payments Advisory covers payments between Spain and the rest of the group, including flows from outside the EU.
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01
A complete entity pack
The deed, articles, registry entry and tax number, with no documents still pending from the formation.
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02
Who can sign, and how
A clear record of who can bind the company, whether signatures are joint, and the limits of each power.
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03
An ownership chart to individuals
Every layer of ownership traced to the natural persons who control the company, consistent with the register.
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04
Funds that fit the activity
The source of the first transfers and expected flows, with counterparties and countries matching the business.
Company setup in Spain: common questions
The NIE is the identification number Spain gives to foreign individuals. Directors and shareholders need one to sign the incorporation deed, register the company and deal with banks and tax authorities.
The legal minimum for an SL is one euro, but extra conditions apply until capital reaches 3,000 euros. In practice, banks expect capital that matches the planned activity and expenses.
Usually because the file leaves too much unexplained: non-resident directors, a foreign parent, unclear ownership or payments expected from outside the EU. A complete, consistent file answers those questions in advance.