Two new laws that will jump-start your Spanish investmentsBusiness advisory Europe Legal Tax
TGS Talks Podcast
TGS Spanish tax expert, Melissa Sullivan is a legal adviser with TGS Edisa in Spain describes how these laws can benefit global entrepreneurs in the latest TGS Talks Podcast.
Melissa works mainly with non-residents in Spain and foreigners. For example, she incorporates subsidiaries in Spain for foreign companies, organises the purchase of shares of foreign companies and helps settle inheritances when a non-resident inheritance assets in Spain.
Two new laws in Spain that should make it easier for companies to begin trading in Spain
Spain has a lot to improve to reduce bureaucracy in order to make it easier for foreigners and non-residents to invest in Spain. Every foreign company needs to obtain a tax identification to be able to do any sort of economical operation, incorporate a company and this can be complicated…but we can help you.
There are two new laws in Spain that should make it easier for companies to begin trading in Spain.
– The 1% Capital Law, for the creation and development of companies: has already been published and shall enter into force tomorrow and gives the possibility for an LLC to have a minimum share capital of 1€ instead of 3.000€ (as it is the case in many EU States already)
This law is already action and you can benefit from it already. You have to take into account the limits fixed by the law but apart from that there is no problem.
– The start-up Law: has been voted in Parliament. This Law will apply to start ups so for them the situation will be better and for the companies who do not qualify as a start up well, they will have to plan the investment in Spain taking into account the bureaucratic requirements. Corporate Tax rate is lowered to 15% instead of 25% for the first 4 years
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