Setting up a company in Spain can be a complex process, but there are alternatives designed to make it easier. One of these is the Sociedad Exprés, a type of Sociedad Limitada Nueva Empresa (SLNE) that allows a company to be set up quickly and with less red tape.
That is why, in this article, we are going to detail what an Express Company is, how it can be formed, its benefits and limitations, and how LEIALTA can help you in this process.
What is an Express Company?
Index of contents
If you are thinking of starting up a business and you want to set up a company quickly and without complications, the Express Company is one of the best options. It is a form within the Sociedad Limitada Nueva Empresa (SLNE) that allows you to reduce the administrative formalities to a minimum and speed up the entire creation process.
Unlike other types of companies, the Express Company is designed to be operational in record time, without the need to carry out complex procedures or draw up documents from scratch. It is a perfect solution for those who need to start their activity immediately and do not want to be delayed by bureaucracy.
The most significant features, and in many cases, the most attractive to anyone looking for effectiveness and speed, are as follows:
- Quick creation: if everything is in order, it can be set up in just 24 to 48 hours, plus a small management margin.
- Reduced minimum capital: requires a lower initial investment than with other types of companies.
- Less bureaucracy: standard statutes and predefined forms are used to facilitate the formalities.
- Automatic name: the name of the company is generated automatically, avoiding delays at the Mercantile Registry.
It is ideal for entrepreneurs who want to start their activity as soon as possible without wasting time in endless administrative procedures.
How can an Express Company be formed?
The creation of an Express Company follows a simplified process involving only a few steps. Below, we explain what needs to be done to set it up.
1. Obtaining a digital certificate
The first step in setting up an Express Company is to obtain a digital certificate. This is a document that will allow you to complete the formalities electronically, which significantly speeds up the process. The digital certificate is necessary so that you can electronically sign the documents and complete the application efficiently.
2. Applying for the company name
In the case of the Express Company, it is not necessary to carry out a search and validation of the company name through the Companies Register, as the name is automatically generated from the surnames of the partners. However, if the entrepreneurs want a name that does not follow this format, they will have to opt for another type of company.
3. Drawing up the articles of association
The Express Company is set up using a standardised model of articles of association, which means that the founders do not have to create a document from scratch. The pre-defined articles of association cover most of the requirements and obligations to be fulfilled by the company, which significantly reduces registration times.
4. Signing before a notary
Once the articles of association have been drawn up, the articles of association must be signed in the presence of a notary. In this step, the founding shareholders are identified, the share capital is established and the corporate purpose of the company is defined. Thanks to the standard form, this procedure can be completed on the same day.
5. Registration in the Commercial Register
With the deed of incorporation signed, the next step is registration in the Commercial Register. This process is usually very quick, and in most cases, is completed within 24 to 48 hours, which makes the creation of the company much quicker than other types of companies.
6. Obtaining the NIF and registration with the tax authorities
Once the company is registered, the Tax Identification Number (NIF) is obtained, which is necessary to carry out any tax formalities. In addition, the company must be registered with the Tax Agency, indicating the tax regime that will apply and the corresponding tax obligations.
7. Registration with Social Security
If the company has employees, it is obligatory to register it with the Social Security. This implies both the registration of the company in the General Regime and the registration of the employees in the system.
All these steps can be speeded up if you work with an external advisor to guide you through the whole process, however short it may be. Furthermore, thanks to digitalisation, it is worth noting the idea that all of this can be done online, the quickest and easiest way to incorporate a company without the need for face-to-face procedures.
