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Incorporating a company in Spain as a non-resident is an entirely achievable task — and can be done completely remotely. However, the process contains several pitfalls: from obtaining an NIE to opening a corporate bank account, where banks are increasingly refusing without proper preparation.
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Steps 1–2: NIE and Company Name Reservation
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An NIE is mandatory for any legal act in Spain. A non-resident can obtain an NIE through:
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- the Spanish consulate in their country of residence — 3–8 weeks
- a notarial power of attorney granted to a lawyer in Spain — 2–4 weeks
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In parallel, the company name is reserved with the Registro Mercantil Central (5 name options submitted; the RMC certifies the first available one). The name certificate is valid for 3 months.
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Steps 3–5: Notary, Mercantile Registry and AEAT
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The articles of association are signed before a notary (in person or via power of attorney). Minimum share capital for an SL: €3,000. Registration with the Registro Mercantil Central: 7–15 business days. After registration: obtaining the CIF from the AEAT and VAT registration. For operations with EU clients: registration as an intracomunitario operator.
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Step 6: Opening a Corporate Bank Account
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The most challenging step for non-residents. Standard bank branches often refuse due to the absence of a Spanish credit history. The effective route: submission via a Private Banking direct channel with a complete KYC package. Our firm opens accounts through Sabadell and BBVA via agent-accompanied submission.
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FAQ
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How much does incorporating an SL cost?
Notarial costs: €300–600. Registry fee: €150–250. Legal fees: by agreement. With our full support: from €1,200 to €1,800 all-inclusive.
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Is it necessary to travel to Spain in person?
No. The entire process from NIE to account opening can be completed remotely via notarial power of attorney.
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How long does the full incorporation take?
With all documentation available: 4–6 weeks from start to a fully operational company with a bank account.
