How to create a limited company

Corporations are the type of company that we find most widespread throughout the Spanish business fabric. Moreover, the vast majority of new companies that are emerging after the economic crisis, are being corporations. Probably this is because, in case it does not go well, the holders will only respond to the debts with the business assets, not with their own, and this fact is being specially valued today. On the other hand and as for any important activity, there are many bureaucratic procedures to follow, so in .com we explain how to create a limited company.

Procedures necessary for the constitution of a corporation

By the very act of founding a corporation, we need to carry out certain procedures of our own to carry out the activity. These are:

  • Creation of the Statutes and Deed of Constitution, in which we set out the rules that will regulate our activity.
  • Transfer Tax Patrimoniales. We must pay 1% of the total initial capital contributed.
  • Open a bank account This must be in the name of the company. It is important to remember that we must enter at least 25% of the € 60, 000 needed to set up a limited company.
  • Request a name for the company: In this way, we will be sure that the name will be unique and exclusively for our company and that it does not coincide with the name of another. To do this, you must request the Certificate of Social Denomination.
  • Registration in the Commercial Registry. It is a necessary procedure for all those companies that carry out economic activities and we explain how to register in the commercial registry.
  • Obtaining the Tax Identification Code (CIF). This is the equivalent of the DNI, but for companies, so that they can be identified unequivocally. Check here the steps on how to request the tax identification code.
  • Sign up for the Tax on Economic Activities and the census to pay VAT. Enter the VAT to the Treasury and pay the corresponding Corporate Tax is absolutely mandatory for all companies, so you can see here the way to register in the imposed Economic Activities.
  • Visit book request. It is necessary to present it if we had an inspection by the public administrations.
  • Register for social security as a self-employed or as workers. This will depend on the regime in which we carry out our activity within the company.

Other non-mandatory procedures

These procedures are not mandatory to perform in all cases of incorporation of a corporation, but depends on the particular case that we find:

  • Change of ownership of business. In the case that we were already doing one before and would change the activity of this, so that we formed a new corporation. You can see here the necessary procedures on how to change the ownership of a business.
  • License of activities and facilities. We will only request it if we are going to open a new store, we also explain how to request a license for activities and facilities.
  • Work license. It will be necessary in the event that we are going to carry out works in the physical place where our company is located.