The UK’s exit from the EU became an eye-opener for businesses, public administrations, and citizens when they understood the various trade barriers this exit would bring to their doorsteps. If you consider starting a business as a UK citizen in Spain, you should be careful with the new rules and regulations you will run into as a non-EU citizen. It is therefore recommended to hire a lawyer that can assist you with the new obstacles in tax, trading, and starting a company formation. This article is intended to provide information about the changes for UK individuals who want to start a company in Spain.
Can I start a business in Spain after Brexit?
You can still start a business in Spain since you don’t need to be a resident to start a business in Spain. If you want to incorporate a new company, our bilingual corporate lawyers can help you with everything. You can read more about our services on our company formation page. Next to this, we have another article that explains the complete process of starting a business in Spain.
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What new requirements and taxes are after Brexit in Spain?
At the end of December 2020, new tariffs, duties and compliance’s for UK citizens were implemented. It is important to meet all the necessary standards of imported or exported goods and conform to international legal and trade obligations. Just like the UK, these new policies will help prevent illicit activities and smuggling of products, including foods, disease control, and safety products for Spain and the EU
Moreover, the customs would give an affirmation that will aid the governments in collecting information about the specific products after importing or before exporting every product. The customs declaration will have information on the type of goods, value, shipment method, tariffs or duties paid. Likewise, different checks and licenses might be required and applicable for importing goods, such as plants, animals, animal origin products, agro-food products, pharmaceuticals, chemicals, alcohol, tobacco, etc. You can find more about these policies here.
Companies should also make a point to check the personal data shared between UK and EU businesses and make sure they comply with the General Data Protection Regulation.
Another one is that if you sell digital goods online to Spanish customers, they should be recorded either in the Spanish VAT system or an EU VAT MOSS system.
Our corporate lawyer is ready to assist you with the forms and regulations you will have to go through. Just contact us, and we will be happy to help you with your situation.
Popular companies you can register in Spain
Depending on the type of company and activities you want to start in Spain. Foreign investors must register either the limited liability company which is privately held called the SL (Sociedad Limitada) or the public limited company called the SA (Sociedad Anónima). There are many differences between the S.L. and S.A. For example, the SL limited liability company requires an investment of 3.000 euros and can have 1 to 50 partners, the Sociedad Anónima a minimum of 60.102 euros and can have an unlimited amount of partners. Both have different aspects that make them interesting for individuals and organisations.
At SpainDesk, we can provide financial and legal assistance and support you through the company incorporation process, as well as the bookkeeping and accounting. Contact one of our lawyers to get a free quote.
Living in Spain after Brexit
If you want to start a business in Spain, and want to live in Spain, then you need to apply for a visa. When you are starting a business, most likely this will be applying for a Business Visa or Self Employed Work Visa. We suggest contacting us for consultation with our immigration lawyer. Additionally, if you are willing to invest about 500.000€ in the Spanish economy, including real estate or qualified financial investments, you can apply for a Golden Visa in Spain. Having a work permit makes it eligible for you and your family members to reside in Spain as well. You can also use in the Beckham law to live in Spain but as a non-resident.
Living in Spain with the Beckham Law
Individuals that will be working in Spain can also apply to the Beckham rule if they are qualified. It licenses you to live in Spain but as a non-resident. This option comes with a unique tax regime at a fixed rate of 24 per cent of your Spanish employment income, unlike the progressive tax rates applicable to Spanish residents. We can help you with your application for the Beckham rule, take care of your tax declarations, and provide you with practical advice.
Living in Spain for ex-pats that arrived before Brexit
British ex-pats that were already living in Spain before the Brexit can register as a resident in Spain at the Immigration Office (Foreigners Office). As a resident, you will be able to get health care, a driver’s license and enjoy other resident perks. If you would like assistance with this, our lawyers can help.
Living in Spain ex-pats that arrived after Brexit
British ex-pats that want to move after Brexit to Spain will need to meet the normal Spanish immigration requirements for countries outside of the Schengen territory. This also means that UK Nationals that want to visit Spain are subjected to the following rule: you can stay 90 days in any 180-day period within the Schengen area. Just like the Spanish immigration requirements, this rule applies to countries outside the EU If you would like to know more about living in Spain for UK nationals, we would suggest looking at the official information from the UK government.
Disclaimer: Information on this page may be incomplete or outdated. Under no circumstances should the information listed be considered professional legal advice. We highly recommend seeking guidance from a legal expert if you lack extensive knowledge or experience dealing with any of the procedures outlined in these articles.