Do you have a clear idea, the team, and the necessary financing to create your startup? If so, the next essential step is to formalize its legal constitution. This process not only gives your company legal personality, but also opens the doors to multiple benefits and public aid.
Below, I detail the fundamental steps you must follow to legally constitute your startup.
1. Company Constitution
The first thing you have to do is choose the most appropriate legal form for your project, being able to opt for a Public Limited Company (Sociedad Anónima), a Private Limited Company (Sociedad Limitada), or another legally recognized option. Once this decision is made, follow these steps:
- Application for social denomination certificate: You must reserve the name of your future company electronically in the Central Commercial Registry (www.rmc.es). You can propose up to five name options, which will be assigned in order according to availability. This procedure has an approximate cost of €20.
- Obtaining provisional tax ID (CIF): At the Tax Delegation of the place where the registered office will be located, apply for the provisional Tax Identification Code. To do this, you will have to present a written document, signed by you and the other partners, committing to constitute the company, together with a model of bylaws and articles of incorporation, plus all the required documentation.
- Opening a bank account in the name of the company: In this account you will make the deposits of the partners’ contributions to constitute the company. The bank will issue you a certification of the deposits made, essential for the following steps.
- Granting the public deed of constitution before a notary: You must sign the deed of constitution, which includes the company bylaws. For this it is necessary to present the name reservation certificate, the provisional tax ID, and the bank certification of deposits.
- Registration in the Commercial Registry of the province: You will present the public deed of constitution and the settlement of the corresponding tax (form 600). The registrar will verify that everything is in order and allow the definitive registration of the company.
2. IEBT Qualification in Galicia
If your project has a clear technological and innovative component, you can apply for qualification as a Technology-Based Employment Initiative (IEBT) in Galicia. For this, the project must be viable, innovative and foresee the creation of stable employment in Galicia, in addition to at least 25% of the staff having university qualifications.
This process requires you to prepare a technical and economic report, which will be reviewed by technical staff from the three Galician universities. The application is submitted electronically at the Xunta’s electronic headquarters (procedure TR340D).
3. ENISA Startup Certification
To benefit from the advantages of the Startup Law, your company must obtain official certification from ENISA (National Innovation Company). To access this certification, your startup must meet the following requirements:
- Be a newly created company.
- Not distribute dividends or be listed on the stock exchange.
- Have at least 60% of the workforce with employment contracts in Spain.
- Develop an innovative project with a scalable business model.
- Not exceed an annual business volume of €10 million.
With this certification you will be able to access various aids and benefits that will boost your innovative entrepreneurship.
If at any time you need help or expert advice to formalize your startup, do not hesitate to contact the Economic Office of Galicia, which offers free advice for entrepreneurs like you.
