Set up a business in Galicia

Identifying the key implications of setting up a business in Spain will help you to boost your chances of success. Herein we explain you the first requirements to be considered before to start your business. Broadly speaking, there are two main options:

• Operate as a freelance

• Set up a company – We recommend this option in case your annual turnover is above EUR 60,000.

UE citizens: if you opt to be a freelance, all you need to do is get a NIE (número de identidad de extranjero), an EU registration certificate and then be registered for the income tax and VAT. On the other hand, in case you want to incorporate a company, you will need to proceed with the incorporation of the entity.

Non-EU citizens: first of all, you will need a residency permit to start a business in Spain. There are two options to obtain the visa.

- You can request the entrepreneur permit, for which you will need to provide evidence that you have enough capital to invest in your business and support yourself while living in Spain. You may also be required to submit a business plan to the Spanish authorities.

- You can request the temporary permit which is valid for one year period and can be renewed after the expiration. Another viable option would be to invest in real estate to obtain your residency, under the so-called golden visa scheme.

For any legal assistance you may need to set up a business in Galicia do not hesitate to call us at (+ 34) 618 19 52 96 or email at info@realestatelawyersgalicia.es