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Company Formation in Spain - Tax Incentives

[vc_row][vc_column][vc_column_text]Over the past few years the Spanish administration has been giving tax incentives in Spain to people so they will invest and activate the Spanish Economy by registering more companies.

Here are some of the key tax perks of registering a company in Spain:

Reduced Corporate Tax in spain

Companies registered in Spain, since  January 1, 2013, have enjoyed a reduced corporate tax rate for the first 2 years of their operation. This reduction applies from the first tax period in which the tax base is positive (and therefore obliges the payment of corporate tax) and in the following period.

The reduced corporate tax rate is 15% between 0 and 300,000 euros. If the earnings surpass the 300,000 euros, then a 20% rate will be applied.

Unemployment pays

If someone is unemployed in Spain and they are entrepreneurs then this is an attractive incentive. Since January 1, 2013, unemployed people have enjoyed an exemption of 100% on their personal income tax.

This only applies if the unemployed person wants to register a company in Spain and they ask the administration for the complete amount of their unemployment pension for the whole year.

Incentives for Autonomos

In Spain, people that are registered and working as “Autonomos” enjoy an exemption of 20% discount on their personal income tax.

This doesn’t quite apply in the category of registering a company but it is one of the incentives the Spanish administration has been giving over the years for those registered as ‘autonomos’ or self-employed.

What can Lexidy do for me if I want to form a company in Spain?

So those are a few of the key tax advantages of registering a company, or as an autonomo, in Spain.

Lexidy Law Boutique can assist you with all the process of company formation from obtaining the company´s bank account, drafting of the bylaws, assistance at the notary and process of Registration.

If you’d like to know more about how to register a company in Spain, or registering as an autonomo, send us a message in the contact form below!

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