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Setting up a business
by Josephine Quintero
Many people turn to self-employment or starting
a business to make a living, although this path is strewn with pitfalls
for the unwary. Many foreigners don't do sufficient homework before
moving and setting up a business in Spain.
While hoping for the best, you should prepare for
the worst case scenario and be sure that you have a contingency
plan in place, including sufficient emergency funds to last until
you have established your business in Spain.
Most foreigners find Spain a frustrating but challenging
country in which to do business. The bureaucracy associated with
starting a business is frightening at first. For foreigners, the
red tape is almost impenetrable, particularly if you don't speak
the language, as you will be inundated with official documents and
must be able to understand them.
It's only when you come up against the full force
of Spanish bureaucracy that you understand what it really means
to be a foreigner in Spain. Patience and tolerance are the watchwords
but the good news is that things are improving and regulations and
procedures have become less complicated since Spain became a full
member of the EU on January 1st 1993.
In addition to problems with the Spanish authorities,
assorted crooks and swindlers are fairly common, particularly on
the Costa del Sol in Spain. You should always have a healthy suspicion
regarding the motives of anyone you do business with as it's a sad
fact of life that foreigners who prey on their fellow countrymen
are common in resort areas. In most cases you're better off dealing
with a long established Spanish company with roots in the community
and a good local reputation to protect.
Despite the red tape, Spain is traditionally a country
of small companies and sole traders, and it has around 1.5m family
run businesses of all sizes employing some 85% of the working population.
We recommend you seek the professional help of an
Accountant or Gestor.
More information on
business in Spain click here.
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