Applying for your company name

Applying for your company name

Once you have decided that you are going to start your company formation in Spain process, you have to know that every company in Spain has a unique name. The public entity that authorises the company name is the Registro Mercantil Central.

This step can be done at the same time as the NIE application, given that, the NIE is not necessary for this purpose. The application is filed to the Registro Mercantil Central (Central Commercial Registry) in Madrid.  The application will include:

 

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Obtaining foreigner Identification number (NIE) for all shareholders and directors

This is the starting point when setting up a business in Spain. The foreigner Identification number (NIE) is a number that every foreigner needs in order to interact with the Spanish administrations. NIE means “número de identidad de extranjero”, that is, Foreigner Identity Number. Without a NIE you cannot sign the  deed of incorporation of your Company before the Notary Public.

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Incorporation of the company before a Notary Public

The great day has arrived. This is the day in which your company will be born and, as with a child, you will, from now on, have to take care of it. This day will take place at the company’s delivery room, the Notary office.
The Notaries in Spain are Civil Servants whose function is to provide citizens legal certainty to their dealings. In practice the Notary is a guarantee that your transactions complies with legality and certifies the signatures of the parties involved.

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Bank account opening with the share capital

One of the requirements for any new company in Spain is to have a minimum share capital of EUR 3000
  • Depositing the share capital in a bank account which holder is the company. For this purpose the bank will require the NIE and passport of the person who will have powers in the account, and the company Certificate. The bank will issue a certificate stating that you and, if it is the case, the other shareholders have deposited the share capital in this bank and in a certain account number. This account will not be fully operative until you sign the deed of incorporation and take it to the bank to activate the account.

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Set up your business in Spain

Become established in Spain in a clear and simple way