The company EXPERT SM assists in the registration of the following types of legal entities in Spain (Madrid):

• SOCIEDAD LIMITADA (LLC, A. Cap. From 3006 euro, the number and citizenship of the founders, citizenship of the director is not limited)
• Representative / branch of foreign companies in Spain (A. Cap. is missing)

Documents required for company registration:

• Information about the founder (founders) and the director (directors) of the company: full name, date and place of birth, place of registration
• If the founders are legal entities, then the charter documents of the company and the decision to create a subsidiary / representative office *
• Name, activities of the company to be created

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* – notarized and translated into Italian

Company registration term:

SOCIEDAD LIMITADA – 30-40 days Representative / branch of foreign companies in Spain – 30-40 days

EXPERT SM also provides assistance in:

• Opening a bank account
• providing the legal address of the company
• Providing a legal address with postal and secretarial services
• organization of accounting of the company
• Obtaining licenses necessary for the company’s activities under the laws of Spain.
• Provision of nominee directors and founders
• Apostille Design
• Assistance in obtaining residence permits (residences) – for owners and employees of Spanish companies, their relatives (registration period – 5-6 month)

OPENING REPRESENTATIVE OFFICES AND BRANCHES OF FOREIGN BANKS IN SPAIN

The legal basis for all actions to open representative offices and branches of foreign banks in Spain is Royal Decree 1245 of June 14, 1995, which generally determines the formation of banks, the participation of foreign capital and regulates other legal aspects of the activities of financial and credit companies.
Representative offices of foreign banks under current Spanish law cannot carry out credit operations, raise funds for deposits, act as financial intermediaries or provide any other types of banking services (article 10 of Decree 1245/1995).

Representations should be limited to informational economic functions on banking, financial and economic life. However, along with this, representative offices can help raise funds of third organizations through credit companies operating in Spain for their parent banking institutions, and also serve as a real material basis for the provision of banking services (in accordance with Law 26 of July 29, 1988. )

Permission to open a representative office is issued by the Central Bank of Spain. Documents necessary for consideration are:

• An appeal to the leadership of the Central Bank of Spain, indicating the goals of opening a representative office, indicating the name of the representative of the bank, with an appendix of a curriculum vitae.
• Information about the activities of the bank.
• Reports (for the last 3 annual periods).
• Office location in Spain.

In addition, other necessary documents may be requested at the discretion of the Central Bank of Spain. The Central Bank of Spain considers the appeal and reports the decision within three months from the receipt of the appeal. Representation data are published in the Central Bank of Spain Bulletin.

To open branches of foreign banks in Spain, the following documents must be presented:

• Notarized extract from the Trade Register or a certificate confirming official registration of the bank (financial company) of the investor country;
• Notarized (or approved in the Commercial Register) full Charter of the bank (company), including information on the management structure and composition of the Board of Directors;
• Notarized decision of the Board of Directors of the investor bank on opening a branch in Spain, indicating the proposed legal address, the amount of capital invested, the objectives of the activity, the expected results for the next financial year, information about the representative and the power of attorney addressed to him for all types of financial transactions.

All documents must have an apostille of the Hague Convention, and in case of its absence – must be certified by the Consular Office of Spain in a foreign country. Permission to open a bank branch (or establish a joint bank in Spain) is issued by the Ministry of Economy and Finance in agreement with the Central Bank of Spain. The procedure for consideration in the General Directorate of Financial Policy of the entire set of submitted documents, the study of the organizational and financial structure, the charter and the investor bank is from 6 to 12 months.

The minimum authorized capital for opening a branch of a foreign bank in Spain is 3,000 million pesetas (23.1 million US dollars) and must be presented in the form of fully paid shares. To open a branch, it is necessary to place a deposit account in the amount of 20% of the authorized capital with the Central Bank of Spain. A document confirming the opening of a deposit account is submitted to the Ministry of Finance. To carry out operational management of the bank, at least two persons (branch directors) must be represented.

In order to make investments in the banking sector of Spain (transferring funds from abroad), the permission of the General Directorate of Foreign Trade Operations of the Ministry of Economy of Spain is required, which determines the degree to which national interests are secured in case of investments in this area (applies only to non-EU countries).In case of a positive decision of the Ministry of Economy and Finance and approval of the Central Bank of Spain, the branch is registered on the basis of legislation in the prescribed manner and is subject to official registration in the Commercial Register of Spain.