Experiences
Bienvenida Account for self-employed workers and companies
If you want to start a business in Spain or become self-employed, this guide explains the process step by step, the financing available and how to grow your business from day one.
We know that it can be a long and confusing process. At BBVA we want to help you on your way to entrepreneurship, which is why we have developed this guide, to tell you everything you need to know to achieve it.
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You always have more chances for success if your idea is well developed.
It will be helpful to do a SWOT analysis (strengths, weakness, opportunities and threats) of your idea.
Research the different options available to you for starting your business in Spain and see which one is most advantageous for you. The most common forms are:
To do this, you must go to a notary and make sure you provide the following documentation:
Remember that in addition to the general admin, there are some administrative steps that you must take into account according to the business that your company will be doing, and other additional steps for certain legal entities or if you will be hiring employees.
These specific administrative steps include:
New customers
For companies with a turnover below 5 million
Don't forget about the costs that your company will incur, since although individuals do not need to contribute a statutory minimum capital amount when setting up a business, legal entities must do so, with some exceptions, and this amount varies according to the chosen business form.
Once the company has been created, we recommend that you go to your local small business center to find out about grants and subsidies that public administrations and related bodies have in place to incentivize, maintain and foster economic activity and entrepreneurship. Application deadlines change, as do the eligibility requirements, so the best thing to do to keep up is to consult with your PAE Point, the National Grants Platform or the Tax Agency's grants and incentives database.
If you have reached this point, you will probably already be highly aware of the importance of comprehensive long-term planning of your business idea, the definition of the activity you will be carrying out, a risk assessment, your financial capacity and the business' viability, so financing could be a viable option.
If you want to pursue a sustainability, digitization or cohesion and equality project, BBVA will work with you and help you apply for European Next Generation Funds.
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The loan you need for your agricultural and livestock operations. Tailor the term and the interest rate.
*Product available for businesses with a turnover under 5 million euros.
Get involved in business or sector events and events that take place in your community. It is a great opportunity for networking that will help you continue to grow as a business.
Make the most of synergies with other entrepreneurs and get inspired by real-life case studies such as those you can find on BBVA's Sharing Knowledge or in content you can find on our website.
It is also important to take advantage of the cross-reaching training opportunities that public institutions that support entrepreneurship offer. Accounting is the most obvious, but there are many more areas to learn about, such as marketing or communication.
It is essential to provide your customers with a payment method that is suitable for their way of working and using new technologies. Providing them with a good online and physical payment experience is vital to create a position image of your business.
The purpose of this guide is to explain, step by step and simply, what the process is of starting a business, whether as a self-employed worker or by setting up a company.
The guide will also show you the admin required to set up your business, information on financing and grants available, and some tips on how to grow your business once you're up and running.
If you already know that you are going to set up as a business, you need to know the administrative steps to follow:
The first step to starting a business is to visit the General Treasury of Social Security.
You must register with the Special Regime for Self-employed Workers, and receive a Social Security number.
You can register both in person by filling in form TA0521 and through the Social Security virtual office.
You can also register as a business owner if you are going to be a company shareholder. To do this, you will have to fill in form TA.6 and submit the document that the Tax Agency has given you with the Tax Identification Number (NIF), which includes the Company's Economic Activity.
When registering as a self-employed worker with the Social Security Institute, you must state the management company or mutual society chosen to cover the risk of occupational illness and work-related accident.
If you are not sure which mutual society you can choose, you can find more information on the website of the Association of Mutual Societies for Work-related Accidents and on the list of mutual societies that on the Social Security website.
The next step is to visit the Tax Agency to register in the Register of Employers. Once there, you must file the register declaration, providing the following forms:
Both documents can be presented in person or at the Tax Agency office with your electronic certificate.
Are you going to open business premises or work from home? If you first choose the option, you must record your work center's opening in the Labor Department of your autonomous region.
If you are going to open a work center, you must request:
New customers
For self-employed professionals
The website of the State Public Employment Service includes a package of measures to boost entrepreneurial projects:
If you want to pursue a sustainability, digitization or cohesion and equality project, BBVA will work with you and help you apply for European Next Generation Funds.
Before starting your business, you need to know all the costs you will have to pay. We'll tell you how:
If you need financing, at BBVA we offer loans of up to €50,000 for self-employed workers, with repayment periods ranging from 14 months to 8 years. You can find more information on our Online Negocios Loan for Self-employed Workers and Businesses.
Get involved in business or sector events and events that take place in your community. It is a great opportunity for networking that will help you continue to grow as a business.
Make the most of synergies with other entrepreneurs and get inspired by real-life case studies such as those you can find on BBVA's Sharing Knowledge or in content you can find on our website.
It is also important to take advantage of the cross-reaching training opportunities that public institutions that support entrepreneurship offer. Accounting is the most obvious, but there are many more areas to learn about, such as marketing or communication.
It is essential to provide your customers with a payment method that is suitable for their way of working and using new technologies. Providing them with a good online and physical payment experience is vital to create a position image of your business.
The purpose of this guide is to explain, step by step and simply, what the process is of starting a business, whether as a self-employed worker or by setting up a company.
The guide will also show you the admin required to set up your business, information on financing and grants available, and some tips on how to grow your business once you're up and running.
If you already know that you are going to set up as self-employed, you need to know the administrative steps to follow:
From 1 January 2023, the self-employed worker contribution payment is determined according to your forecast income.
From now until 2025, a progressive contributions scheme is in place whereby the self-employed workers with the lower incomes pay less, and those with the larger incomes pay more. The self-employed worker contribution payment is based on 15 contribution scales based on forecast income.
To give you an idea, these are the minimum payments for the minimum contribution level:
A self-employed worker, you face a series of expenses in the course of your business: tools, fuel, travel expenses, rental of premises, mobile phone, etc. In short, all expenses that a self-employed worker must pay in the course of their business.
In order to deduct these expenses, you must provide corresponding invoices.
The taxes payable by a self-employed worker are as follows:
An everyday self-employed person might pay the following expenses:
