A guide to buying a business in Spain.
You can buy a bar or any other type of business in Spain. In fact, it’s not that hard. However, there are many variables when buying in Costa del Sol.
Business for sale in Spain
Every year more foreigners want to move to Spain which causes an increase of demands in services in all areas as well as in industry, commerce, tourism etc. National and international quality products are also highly requested as they are seen as lucrative business opportunities.
Opening a business in Costa del Sol is a viable option but you have to be careful about buying directly from the owner. You do not know what and how much debt is attached to the reputation of the business. There are many pitfalls, which may eventually lead to collapse.
So, if you decide to start your own company and buy a business here, we strongly recommend locating professionals (realtors, lawyers). Maybe you have to pay a little more, but the deal will be designed correctly and you will be protected from unpleasant “surprises.”
The market is widely open for anyone who wants to start their own business. However, there are a few basic questions that must be addressed in order to ensure that everything goes according to plan.
How to buy a business in Spain?
Before you start any business in Spain, you should study the market to see whether there is a demand for a product or service that you are going to provide. The Spanish market is very different from the one in your country. Knowing Costa del Sol as we do, when the market moves up or down, the perfect time to buy or not, our contacts and the many commercials we have in the best locations, makes us the best option to help you to start a business that is lucrative. If this is what you are looking for contact us to show and explain the most productive way to open a new business in southern Spain.
The first step no matter what you decide is to visit a national police station and apply for a NIE (Identification number for foreigners mainly for tax purposes.) Just bring your passport and fill out a simple form. Typically, this document may be ready within a few days.
In Spain there are two levels at which the business must be registered. At the local level, you must register your business with the City Hall and get a license to open a business (Licencia de Apertura), which will be clearly defined your business and the way it is conducted. At the national level you´ll need to register in the office of IVA, which is the equivalent of the Internal Revenue Service. Agencia Tributaria will impose a tax on you. In order to fill in all the appropriate documents, you need a fairly good command of Spanish, otherwise, it is recommended to use the services of the “Gestoria”, to deal with your taxes and do all the hard work for you, for a reasonable fee. The next step is making decisions about the format of the business. You need expert advice on what type is best suited for your business.
Autónomo – a company founded and operates under the authority of one person.
Sociedad Civil – is a partnership where several people get together to do business.
Sociedad Limitada – limited liability Company with registered shareholders and share capital.
Sociedad Anonima – is a large company with large capital just as Sociedad Limitada – has shareholders.
Opening businesses here is not a long process, in a matter of two weeks when the official procedure is finished you can become an owner. The overall cost of the paperwork procedure, opening license and registration can be around 2000Euros to 3000Euros, depending on the business you chose. This process is easy going and much cheaper than many other countries.