Company registration in Tenerife

Name of service Bronze Silver Gold Platinum Brilliant
Company name verification and reservation in Commercial Registry of Spain (Registro Mercantil) Verifying the availability and reserving of your preferred company name in the registry
Company registration Sociedad Limitada (SL) including government fees Preparation and submission of all required documents and fees to the relevant government authorities for company registration, ensuring a streamlined process for our clients
Certificate of incorporation Provision of international standard certificate of incorporation for your company
Memorandum of association Preparation of the memorandum of association, which defines the procedure for the creation of the company; the authorized capital of the company; the size and nominal value of the shares of the founders, as well as the order of payment
A set of statutory documents of the company in electronic form Preparation of a comprehensive package of incorporation documents for any form of company ownership in electronic form
Company seal Production of the company seal
Assistance in obtaining NIE All directors and shareholders of an SL need a NIE (Número de Idendad de Extranjero - individual tax ID), as a result of the Fraud Prevenon Act
Assistance in opening a corporate bank account in BBVA, CaixaBank Collecting, processing and filing the necessary documents for opening a corporate account with a local bank
Assistance in obtaining VIES number Assistance in obtaining a VAT number for your company, which is necessary for accounting and payment of value added tax in accordance with tax requirements
Digital cerficate, tax office noffications A digital cerficate is required for any company that has to present tax forms or has employees in Spain
Provision of virtual office for 1 year Virtual office service for receiving mail or to show on business cards or invoices
Free consultation We offer a free consultation where you can discuss your needs and questions regarding company registration and management. Our experts will be happy to help you understand the process and provide guidance based on your situation. We are glad to answer your questions and help you make an informed decision about the services you need
Total cost
1900 EUR 2500 EUR 3400 EUR 4500 EUR 5400 EUR
Provision of a legal address for 1 (one) year
1500 EUR 1500 EUR 1500 EUR 1500 EUR 1500 EUR
Remote company registration with transfer of authority
200 EUR 200 EUR 200 EUR 200 EUR 200 EUR
Accounting services
350 EUR 350 EUR 350 EUR 350 EUR 350 EUR

Deal of the month

If you will register a company until 29th of February,
opening a bank account is for FREE

6 easy steps to get started
  • 1

    Select your
    preferred jurisdiction

  • 2

    Choose a bank
    that meets your
    company's needs

  • 3

    Pay for our services
    using a convenient
    payment method

  • 4

    Receive all necessary
    corporate documents

  • 5

    Receive details
    for your newly opened
    bank account

  • 6

    We'll deliver the original
    documents directly
    to you

Tenerife is a special economic zone, and enterprises registered on the largest island of the Canary archipelago enjoy tax preferences. Spanish law and the legal system are applicable to the jurisdiction; enterprises are opened there in the same forms as in Spain. At the same time, Tenerife is an offshore zone, which provides benefits when investing in local manufacturing and shipping business. Taxes must be paid on the company establishing (1% of the authorized capital), real estate and economic activity - depending on the focus and scale.

To work in an island, a company must:

  • certify the signature of the owner as the manager of finances in a bank;
  • pay municipal fees;
  • hire a manager (Spanish citizen/resident) and an individual secretary (there are no requirements for his residence);
  • submit reporting once a year: the auditor assures it if all assets exceed 395 million pesetas, sales revenues are above 790 million pesetas, and more than 50 employees are employed during the year;
  • keep accounting registers and books of acts, shareholders, registered securities, sole proprietorships, a register, etc.

Registered Companies

A company in Tenerife is registered as an analog of JSC or LLC, a company with joint ownership, a company with unlimited liability, a partner community, a cooperative. The first two options are the most common. In the joint-stock company (S.A.) the authorized share capital cannot be less than 100 million pesetas, a quarter of the amount is paid at the registration stage. In S.L., similar to Russian LLC, the capital starts from 500 thousand pesetas, but it is paid at once and in full volume.

In both forms, the responsibility of the owners is limited to the invested funds, one person is entitled to create an organization, there are no requirements to his residence. The following information is entered the statutory documentation:

  • the full and short name of the organization;
  • goals and directions of activity;
  • the address where the company is located, office;
  • the amount of the authorized share capital and the size of the participants' shares;
  • the structure of the governing body - the administrator, the council (from three people);
  • for S.A. - information about the meeting of shareholders, the decision-making mechanism.

The costs and rules of work of popular forms are similar, as well as the tax rates. But in general S.A. is more convenient for large business, S.L. is more flexible in management.

Registration procedure

Company registration in Tenerife begins with the conclusion of the contract with the representative-assessor and assignment a name to the organization. The application is submitted to the register, consideration takes up to a month, permission for registration is valid for two months. Next, you need to:

  • open a bank account and deposit a part of or the full amount of capital - if it exceeds a million pesetas, then according to the currency regulation rules, the authorities are separately notified when it is transferred in full;
  • to notarize a package of constituent documentation in the notary office - the founders and the administration must be present;
  • make a seal of the enterprise;
  • submit a package of documents for registration, having paid a fee of 1% - the Chamber of Commerce enters the company in the national registry;
  • get a tax number and, if necessary, a business license;
  • pay municipal taxes and fees;
  • notify the office of the Labor Administration on the company opening, register employees in the social insurance service;
  • if the office provides for a repair - to receive a municipal license for the works.

Experts of "Prifinance" company will help to pass the formalities without a loss of time and efforts. They will undertake the procedures organization, provide legal, tax and financial advice.

Cooperation

Our clients