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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.
Steps 1–2: NIE and Company Name Reservation
An NIE is mandatory for any legal act in Spain. A non-resident can obtain an NIE through:
- 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
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.
Steps 3–5: Notary, Mercantile Registry and AEAT
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.
Step 6: Opening a Corporate Bank Account
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.
FAQ
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.
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.
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.
