Financial technology services are an ever-growing alternative to the traditional banking and financial solutions provided by financial institutions throughout Spain. Entrepreneurs who want to invest in this promising field should follow a few basic steps to open a fintech company in Spain.
The experts at our law firm in Spain can help you choose the most suitable business form and handle any issues related to company formation, especially for foreign investors.
The financial technology sector in Spain
Banking, finance, and insurance companies are constantly improving their online services, enhancing the evolution of fintech companies, particularly those that find innovative digital solutions for the financial sector.
The financial technology industry has had a positive evolution during the last few years, and experts have described this particular business field as an industry that has many different opportunities and players (companies) operating on many different levels. Experts also highlight the fact that the financial technology services are set to be the future of financial services.
Fintech companies in Spain strive to increase the use of digital financial products, at the same time enhancing the customer experience and appealing to new users and customers.
Spain has an Association of Financial Technology Companies which provides a hub for star-ups in this field and promotes innovation and networking between these types of companies in Spain.
Our team of lawyers in Spain can help you open a fintech company.
How to start a fintech company in Spain
Entrepreneurs who wish to open a fintech company in Spain should follow a few basic steps for company formation in the country. The main steps are as follows:
– obtain a company name certificate;
– draw up and sign the company’s constitutive documents (before a notary in Spain);
– obtain the temporary company tax ID;
– apply for and receive the business certificate from the Mercantile Register;
– publish the company in the Official Bulletin of the Mercantile Registry;
– obtain a permanent tax number for the company.
Each of these steps has a different duration and certain fees may apply (notary fees, registration fees, etc.).
One of the experts at our law firm in Spain can give you complete information on company incorporation in the country and can assist you during the entire procedure.