It is possible to acquire the property as a company, either a company created in a foreign country, and that wishes to operate in Spain as a foreign company, or create a company in Spain.
At this regard, the question arises of what is the most advisable?, use a foreign company to acquire the property, or create a Spanish company for this purpose?.
The answer is not easy, as it will depend on the intention of the purchase.
To help make the decision, a few points:
– Creating a company in Spain involves a much higher initial expense than registering a foreign company in Spain.
– Foreign companies that operate in Spain without a permanent establishment have much less tax obligations than companies created in Spain, which also means that maintenance costs are much lower.
– Creating a company in Spain involves:
1.- Have, at least, one employee of the company who is resident in Spain
2.- Keep accounting books
3.- Submit quarterly VAT returns, as well as annual Corporate Tax returns, even if you have no activity.
– A foreign company registered in Spain only has to file tax returns when it generates income from the activity (usually rented).
Therefore, normally, if the intention of the company is to acquire one or two properties with the aim of renting it, or enjoying it by the partners of the company, it is not necessary to create a company in Spain.
In the event that the acquirer has chosen the formula of a foreign company or company to operate in Spain, it will be necessary to obtain the registration of said company in the Spanish tax office, obtaining as a result the NIF.
NIF (Numero de Identificación Fiscal), is a tax number that will identify the foreign company in all tax operations carried out in Spain.
This document, or number, will be required at the end of the process by the Spanish notary, and will also be necessary for the tax returns related to the sale, as well as any of the taxes that the future company made in Spain. It may also be required by banks and financial institutions in Spain.
Obtaining the NIF is done at the Spanish tax office, providing the documents of the company (such as KBO, Statutes, deed of incorporation, etc.) which will have to be apostilled, and translated into Spanish through an official translator.