Since late February and early March, Spain’s State Tax Administration Agency (AEAT) has introduced a new requirement for foreign entities applying for a NIF (Tax Identification Number) using form 036. From now on, certain sections of the form must be completed, including details of shareholders and their ownership percentages in the foreign company.
For this reason, we aim to analyse the modifications and key changes to this form, explaining their impact and how companies should adapt to comply with this new regulation smoothly.
Identification of shareholders and legal representative
The most significant change appears on page 10 of form 036, where foreign entities must disclose their ownership structure. Specifically, shareholders and their ownership percentages must be identified. However, where no single shareholder holds more than 25% of the capital, it is sufficient to include only the details of the legal representative of the company.
This requirement strengthens tax controls and aligns with anti-money laundering regulations, allowing the AEAT to gain greater insight into the ownership structure of companies applying for a NIF in Spain. It is crucial for all foreign businesses intending to operate in the country to comply with this new obligation to avoid complications with the Tax Agency and potential delays in their operations.
Application to company incorporation in Spain
Companies incorporating in Spain must also take this modification into account. When applying for a provisional NIF, they must submit page 10 with information about their shareholders. Later, once the company is formally established and applies for the definitive NIF, this page must be resubmitted to ensure consistency in the provided data.
If there are no changes to the previously declared information, companies can simply tick the relevant box indicating that the details remain the same. This speeds up the process, but ensuring that all data is correct from the outset remains essential to prevent errors that could slow down the procedure.
Consequences and recommendations
This regulatory change means that foreign entities and their representatives must pay close attention to correctly completing form 036. Failing to include the required information or submitting incorrect details could lead to delays in obtaining the NIF and, in some cases, require additional clarifications from the AEAT.
To avoid issues during the process, we recommend:
- Reviewing shareholder structure documentation in advance to ensure accurate submission.
- Correctly identifying shareholders who hold more than 25% of the capital or, if applicable, the legal representative.
- For companies incorporating in Spain, verifying that details remain unchanged before applying for the definitive NIF and correcting any errors before submission.
- Consulting expert advisors to ensure the process runs smoothly.
The new requirement in form 036 reflects the need for greater transparency in identifying the beneficial owners of foreign companies. Adapting to this change is key to streamlining NIF application processes and avoiding administrative setbacks that could delay business operations in Spain.
Staying well-informed and seeking professional guidance is essential to meeting all AEAT requirements without difficulties. At LEIALTA, we support you throughout the entire process, ensuring that form 036 is completed correctly from the outset.
If you need assistance with this procedure or have any questions about how it affects your business, we are here to help. Do not hesitate to contact us for personalised support to comply efficiently with this new regulation.
