Obtaining a NIE (foreigner identification number) is mandatory for any foreign partner to execute a deed of incorporation in Spain. You may apply for it at the nearest Spanish consulate. The consulate will provide a NIE valid for three months for the company incorporation deed to be executed during that period. The NIE will remain the same, only the document will differ from the temporary one.
Advice from lawyers specialising in business is key to organize the incorporation of companies.
Foreign partner in Spanish company
The foreign partner shall subsequently deposit their proportionate share of the share capital in the account that the resident partner in Spain has opened for this purpose. This may also be done by bank transfer.
Finally, to perform the execution of the deed of incorporation the foreign partner has two options:
1- Travel to Spain so as to execute the incorporation deed before the Notary Public.
2- Execute POA from their place of residence.
3- The said POA must be legalisedto be valid in Spain, complying with the procedures set in the country of execution. An Apostille is sufficient if the country were the POA is to be executed is a member of The Hague Convention. The POA, either legalised or apostilled, as the case may be, should be referred to the foreign partner´s attorney in Spain, who will submit the original before the notary public.
We put at your disposal a team of lawyers specialising in corporate law and Opening a Business in Spain. We have a wide experience in the setting up of companies by foreigners. Not only will be advise you, but also arrange all procedures and formalities for the incorporation of a company in Spain.
Do not hesitate to call us at the telephone number + 34 934 880 972 or through our contact form.