Cities of Innovation: Zaragoza
Internet access (Companies with >10 employees)
Internet access (Companies with <10 employees)
Local, national and international transport links
High speed train
— The Zaragoza-Barcelona line is the busiest in Spain — Intermodal platform with 8 daily trains to Barcelona harbour — 3 hours away from Barcelona and Madrid for trucks
University links and access to talent
Students (University of Zaragoza)
€565 million spent to develop innovation The OPEL PSA factory has 6,000 employees PLAZA Zaragoza Logistics Platform has 1,200 employees
Costs and availability of workspace
Costs in comparison to Barcelona and Madrid
— The logistics platform PLAZA is in the European top 5
City support for start-ups and SMEs
Startup and SME support
Startup and SME support
Financial support and access to investors & accelerators
Fixed investment subventions
Local investment (SOLIDAR)
— SOLIDAR: up to €300,000 investment from the economic department of the Aragon government — AVALIA for SMEs: Companies can obtain up to 75% of the investment in productive assets, among other aspects
How to set up a business: a quickfire guide
What are my options?
The choice of entity for entrepreneurs or subsidiaries of foreign companies that wish to operate in Spain with limited liability for shareholders is either the Limited Liability Company (SL) or a Public Limited Company (SA).
Requirements/steps for incorporation for both are:
a. Apply for a corporate name for the new company.
b. Open a bank account for the new company.
c. Draft by-laws.
d. Appoint Directors.
e. Sign the incorporation before a Public Notary.
f. Register the new company with the Commercial Registry.
g. Obtain regulatory approvals for certain activities if needed.
h. Grant a Power of Attorney to local legal advisors to carry out the necessary steps if the shareholders are not going to be present at the incorporation.
What do I need to set up a company?
— The minimum share capital required for an SL is €3,000 and for an SA it is €60,000.
— Public Notary and Commercial Register fees are between €500 and €1,000 (and accounting and legal advisory fees will be charged on top).
Foreign individuals/directors must obtain a foreign identification number (known as a NIE) and foreign companies seeking to set up a branch must get a local fiscal number (a NIF).
Time needed for the registration procedure
This depends on the structure chosen. An estimated timescale would be as follows:
a. 15-30 calendar days to obtain a NIE/NIF.
b. 7-10 working days for the company to be incorporated before a Public Notary.
c. 15 working days (from incorporation) for registration although the company can trade as soon as it is incorporated.
Entrepreneurs need to be aware of the following requirements after registration:
a. Accounting and payroll obligations.
b. Tax procedures (VAT and Tax on Economic Activities).
c. Occupational procedures (eg registration of the company for social security and employee insurance).
In addition, the company founders may have to file a declaration of ultimate beneficial owner (25% of share capital) at incorporation and a declaration relating to the origin of funds may be required depending on the country from where the company is funded.
A reduced tax rate of 15% is applicable for start-ups if they meet certain conditions.