Why You Should Register Your Non-Resident Foreign Company in Spain
Why You Should Register Your Non-Resident Foreign Company in
If you own a business or are in charge of one, you know that there are numerous regulations that you are required to follow. This is especially true if you are doing business in foreign markets. Each country has it's own specific rules for importing or exporting in and out of their borders. It is imperative that you get to know the laws and registrations necessary to conduct business in the country that you wish to. In Spain, getting a VAT or nonresident number(CIF no residente) entitles you to certain benefits within the country. Some of these include;
You are able to acquire shares of companies within Spain.
Buying and selling residential and commercial properties
Bringing imported merchandise and other goods into Spain
You are able to open up a corporate bank account and do transactions within the borders of Spain.
What Documents are Required to Get a VAT Number?
If you are planning to do considerable amounts of business within the borders of Spain and wish to file for a nonresident VAT number, you will need a few matters handled beforehand. Non-Spanish entities are required to have a valid Spanish tax ID number. When you submit this to a qualifying agency that handles VAT numbers, you will receive your official CIF de no residente VAT number within 24 hours.
Is There any More Requirements?
In addition to receiving your VAT number in Spain, you will be required to have a representative from your company in Spain. This is for tax purposes. This appoints them as your point of contact within the country.
This is just a short article giving some information someone might find helpful. Enjoy