Through the CIRCE system (Center for Information and Network for Business Creation), the incorporation of a Limited Liability Company can be completed in approximately 7 business hours from the start of the procedure.
The process includes:
- Reservation of the name in the Central Mercantile Registry
- Opening of a bank account with the share capital
- Granting of the notarial deed
- Registration with the Spanish Tax Agency and settlement of taxes (exempt from the Tax on Property Transfers and Documented Legal Acts)
- Registration with Social Security (if applicable)
- Registration in the Commercial Register
This timeframe is possible because all the involved organizations are connected electronically through the DUE (Single Electronic Document).