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Setting Up a Company in Spain: S.L., Autónomo and Beckham Law from Application to First Invoice
Spain is, in 2026, one of the fastest-accessible European markets for an international founder: NIE in 4-8 weeks, S.L. incorporation 2-3 business days after the notary appointment, bank account in 1-2 weeks. End-to-end, you can be live in 6-10 weeks. This playbook summarises the real-world sequence ZunaPro's legal partners have refined since 2020 — legal form, NIE/NIF, Registro Mercantil, BBVA/Santander/CaixaBank account opening and Beckham Law application.
Choosing the Legal Form: S.L. vs Autónomo
85% of international founders should start with the Sociedad Limitada (S.L.): minimum capital €3,000 (a €1 incorporation option exists since the 2022 reform but the legal reserve constraints make it impractical), liability capped at capital, 1-50 shareholders, corporate income tax Impuesto de Sociedades at 25% (15% for the first two years of new companies). The Autónomo route is self-employment: no capital, instant registration, but personal assets are at risk and IRPF is progressive (19-47%).
| Form | Min capital | Tax | Setup time | Liability |
|---|---|---|---|---|
| S.L. | €3,000 | 25% (new co 15%) | 2-3 days | Capped at capital |
| S.L.U. | €3,000 | 25% | 2-3 days | Capped (sole owner) |
| S.A. | €60,000 | 25% | 3-5 days | Capped |
| Autónomo | €0 | IRPF progressive | 1 day | Personal |
NIE: The Non-Negotiable First Step
The Número de Identidad de Extranjero (NIE) is the identification number every foreign individual needs for any official transaction in Spain. Without NIE you cannot open a bank account, sign at a notary or incorporate an S.L. There are two application paths: in person at the Comisaría General de Extranjería in Spain (Madrid Castellana, Barcelona Mossen Berenguer or Valencia offices) or via a Spanish Consulate abroad.
- Consular route: 4-8 weeks, easier but appointments scarce
- In-Spain route: 2-4 weeks, requires "razón económica" justification
- Fee: €9.84 (modelo 790-012)
- Indefinite validity; no mandatory renewal
- Power-of-attorney delegation possible — ZunaPro legal partners handle it
Step-by-Step S.L. Incorporation
S.L. incorporation runs in five steps: (1) name reservation at the Registro Mercantil Central (Certificación Negativa de Denominación), 3-5 business days; (2) depositing the €3,000 capital into a temporary "constituyente" account; (3) signing the Escritura de Constitución before a notary; (4) obtaining the CIF (corporate tax number) from Hacienda, immediate; (5) registration with the Registro Mercantil Provincial, 5-15 business days. The company then registers for IAE (Impuesto de Actividades Económicas) and becomes a taxpayer.
Bank Account: BBVA, Santander, CaixaBank, Sabadell
For a foreign-owned S.L. the most pragmatic options are BBVA ("BBVA Empresas"), CaixaBank ("HolaBank Empresas" stream) and Sabadell ("SabadellCompass" SME). Santander is more conservative and frequently cautious about foreign-owned entities. KYC requires NIE, passport, escritura, CIF, articles of association, six months of bank statements from origin country and a brief business plan. Account opening takes 1-2 weeks; PSD2 SCA hardware/app setup adds 3-5 days.
Neobank alternatives such as N26 Spain, Revolut Business ES and Wise Business open faster but their "cuenta corriente" treatment for Hacienda's purposes is sometimes disputed. The safe architecture is a traditional bank as the primary account with a neobank as the operational sub-account.
Beckham Law: 24% Flat-Tax Regime
The Régimen Especial de Trabajadores Desplazados — adopted in 2005 and informally named after David Beckham's Real Madrid signing — lets a newly arrived foreign worker or executive pay a 24% flat IRPF rate for six tax years (on income up to €600,000; above that, 47%). The 2023 reform expanded coverage to entrepreneurs, digital nomads and remote workers under specific conditions.
Eligibility requirements: no Spanish tax residency for the previous five years, application via Modelo 149 within six months of arrival, and either an employment contract or appointment as administrator of a newly incorporated S.L. For founders earning €50,000-€200,000 of real Spanish-source income annually, Beckham Law saves €30,000-€50,000 per year compared with progressive IRPF.
Social Security and Recurring Filings
S.L. directors register under RETA (Régimen Especial de Trabajadores Autónomos) — monthly base €230, typical director €350-450. "Tarifa Plana" gives new autónomos €87/month for the first 12 months. Recurring filings: Modelo 303 (quarterly IVA), Modelo 130/131 (IRPF advance), Modelo 200 (annual IS), Modelo 390 (annual IVA summary), Modelo 347 (transactions above €3,000).
Visa and Residency
Two primary routes for non-EU founders: the Visa de Emprendedor (Entrepreneur Visa, Ley 14/2013) requires an innovative business plan and evidence of €100,000+ investment; the Visa de Inversor (Golden Visa) historically allowed €500,000 real estate purchase, but in 2025 the real-estate path was eliminated and only €1M financial or business investment paths remain. The 2023 Visado Nómada Digital combined with Beckham Law is the most attractive structure today: 24% tax + 5-year renewable residency + Schengen mobility.