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 June 30,
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

PRIFINANCE COMPANY
4.7
Based on 56 reviews
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I NI N
10:31 20 Mar 24
Collaborated with the company for 3 years. I can’t say that everything was smooth from the point of view of organizing the work; there was confusion in the structure of the work, etc. But I’ll specifically highlight employee Lyubov Malinowski, she very diligently corrected all errors and was in touch at the right time, her help was significant in all processes and she approached all issues precisely. I would like to separately highlight the moment when she solved the problem at her own expense, which speaks of the person’s professionalism and increased responsibility.
K NK N
11:40 01 Mar 24
As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly and securely.But that's not all. We had a slightly time-sensitive situation when it came to changing the beneficiary details on our account. Prifinance stepped up to the plate and handled everything quickly and professionally.It's not just about getting the job done. It's about how Prifinance does it. They're all about making complex financial matters simple and accessible for companies like ours. Plus, their team, especially Liubov Malinowski, has been nothing short of fantastic to work with - professional, timely and always on the ball.In short, FewMoreTaps OÜ wholeheartedly endorses Prifinance OÜ. Whether it's opening bank accounts remotely or navigating the financial legalities of running an international business, these guys have got your back. A big thank you to the entire Prifinance team for their first class support and expertise.Here's to more collaborations in the future!Best,Kiryl Nest
Mina KedisMina Kedis
18:10 23 Feb 24
I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia
Róbert KnapecRóbert Knapec
15:08 22 Feb 24
We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.
Anna AnnaAnna Anna
13:33 07 Feb 24
I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license stress-free!
Opening an account with Prifinance in a Swiss bank was such an easy and quick process that I was shocked. It all started with the first call, where I received detailed guidance on the required documents and the entire procedure.One of the key highlights was their attention to detail. As someone who usually gets tangled up in paperwork, I was pleasantly surprised when they sent me all the documents and instructions clearly and neatly. No misunderstandings!Honestly, I expected opening a Swiss bank account to be complex and time-consuming, but thanks to Prifinance, I felt like a professional financial expert. Thank you for making this process so easy and enjoyable!
Maria Jose SantomeMaria Jose Santome
20:39 13 Dec 23
I recently had the pleasure of working with Boris.. and I must say, it was a fantastic experience. Boris went above and beyond to assist me with my residency needs. His professionalism, knowledge, and dedication truly stood out. I highly recommend working with Boris and the team!
Valon StatovciValon Statovci
12:43 27 Nov 23
I used Prifinance to help me with a new corporate structure. The team were helpful and communicated well from the initial onboarding with Daniel to case handling by Karmen. They also responded to additional requests post incorporation very quickly, Thank you and would work with them again
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