Spain offers interesting and fast business opportunities for foreign investors. The country offers a friendly policy and access to European markets.
Spain ranks 9th in the world in terms of openness to foreign investment. Moreover, Spain has a growing real estate market, which offers many advantages such as good infrastructure, return on investment, high rental demand, etc.
Taking into account the global changes in immigration legislation, Spain reacted very neutrally - no program was stopped, no citizenship was restricted.
The 15th largest economy in the world by GDP.
Income tax ranges from 19% to 45%. 19% are paid by those whose income for the year was less than € 12,450, 24% — from € 12,450 to € 20,200, 30% — up to € 34,000, 37% — up to € 60,000, 45% — over € 60,000.
The total corporate tax rate is 25%. The rate for new companies during the first 2 years of their activity is 15%. Corporate events with tax protection – 20%.
The VAT rate is from 10% to 21%. Capital gains tax is progressive. From the first €6,000, 19% is paid from €6,000 to €50,000, 21% is paid from €50,000, 23% is paid. The same applies to the tax on dividends -19% for the first 6,000 euros of income 21% for the next 6,000 - 50,000 euros 23% for the next 50,000 euros.
The tax on the purchase of real estate is 1.5% of stamp duty + VAT, 10% of the transaction amount for new buildings, 6-10% of the cadastral value for secondary housing, 25% of the transaction amount for commercial real estate.
When opening a bank account, you must provide the company name, tax identification number, and a certificate verifying the company name. You must make investments and obtain the relevant certificate confirming this.
Currently, Spain has double taxation treaties with more than 90 countries worldwide, so there is a high likelihood that you will benefit from these agreements.
One needs to obtain his unique Foreign Identification Number (NIE) to set up a business bank account in Spain and establish a corporate business entity. A Tax Identification Number (CIF) is also required.
Business structure in Spain. There is unincorporated (freelancer, sole trader, and partnership) and incorporated business (limited liability company (SL) and stock corporation). A limited company is most frequently chosen. After opting the type of company, you are going to pass through this process:
When setting up a bank account, you must do it with the use of the name of the company, tax code and the certificate which confirms the company’s name. You are due to deposit investment and get relevant certificate proving it.
Currently, Spain has double tax treaties with more than 90 countries globally, so there is high possibility that you will benefit from these treaties.
Company registration/incorporation (local and offshore companies)
Banking assistance (local and offshore accounts)
Proof of address (Lease Agreement + Utility bill)
Tax Identification Number
Getting a driver's license
Police reports for approved clients
Local SIM card
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To have sufficient financial resources to support oneself in Spain. The applicable minimum amount for 2023 are 2.400 euros per month for the main applicant, plus 600 euros per month for each family member.
All incomes must be passive incomes. Please note that with a non-lucrative residency it is possible to live in Spain, but you are not allowed to work (neither in Spain not abroad).
Clean criminal record.
Not to be in an irregular legal situation in Spain.
Health insurance issued in Spain with full coverage.
Proof of availability of a living place (title deed or rental agreement as example).
Medical certificate showing that the applicant does not suffer from any physical or mental illness that would pose a threat to public health.
Eligible to apply with main applicant: Spouse/partner, dependents (children and parents) part of the family and depend financially from main applicant (students, retired).
The investor could buy one or more properties as long as the total price is 500,000 euros or more, free of charges and encumbrances. OR To invest 2 million euros or more in Spanish government bonds. OR To acquire shares of Spanish companies, or bank deposits in Spanish financial entities, for an amount equal to or greater than 1 million euros. OR To invest, to a value of at least 1 million euros, in an investment fund, investment funds of closed nature or venture capital funds incorporated in Spain. OR To develop a business project in Spain which is considered as being of general interest to society and fulfilling one of the following requirements:
I thank One World Migration for the opportunity to move to Turkey with their help. I looked to relocate my company to be closer to my European partners and suppliers from the Middle East.
I first came to Portugal as a tourist 3 years ago. Having assessed the situation and got acquainted with this country, I decided that I wanted to stay here to live. Thanks to the efforts of One World Migration, this became possible.
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I have to thank OneWorld Immigration and their customer mentality for the Grenada citizenship. They were able to prepare all the necessary documents in the shortest possible time and without undue worry and accompanied us throughout the entire process.
Yes, it is necessary to notify the Federal Tax Service.
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