When setting up a business in Spain, you have to consider some peculiarities. Foreign companies that do not have a permanent establishment (they usually operate with a CIF in Spain, so they have to pay taxes in Spain) usually find it hard to open a bank account in Spain. Though, they must have one in order to perform basic operations such customer collections and payment to important suppliers, like the Social Security and the Treasury Agency. Surely, this is another difficulty to overcome when setting up a business in Spain that many business consultancies cannot solve because of a conceptual problem…
If the chosen form is not the Public Limited or Private Limited Company, it is mandatory by regulation to have a bank account in our company. Doing business in Spain is easy by overcoming this obstacle – which involves many procedures and displacements and can delay the setting up of the business – through the cash handling services provided by Leialta.
Setting up a business in Spain quickly and with Cash handling services
With this service you can operate in Spain without opening a bank account.
Collections to customers, and payments to important suppliers such as Social Security and the Tax Agency.
The employer who wishes to do business in Spain may make payroll payments.
Leialta will agree a schedule of payments with the company, to later inform about the amounts.
How to operate in Spain without opening a bank account
How can we solve this problem? We offer the possibility of making payments on behalf of the client through LEIALTA’s bank account: payrolls, taxes, social insurances… This is the formula used by many companies before setting up a business in Spain, or in order to start their activities ASAP. Through our Cash Handling services, every entrepreneur wishing to do business in Spain will be able to assume payroll payments and pay the staff’s tax withholding taxes to the state coffers, as well as the social securities payments.
An agile, legal and transparent system
With our cash handling service, the company will only have to transfer the money to the bank account we provide: from this account, we will assume all the payments in a quick, legal and transparent way. Leialta will agree a payment schedule with the company and will inform the customer about the quantities to pay in due time (quantities related to the tax obligations that affect the company in Spain). It is also a way to make sure that the company is up-to-date of their legal and tax liabilities, as it will be Leialta who will be in charge of executing the payments within the deadline.
Leialta’s cash handling service allows foreign companies to operate in our country, making payments and bank movements without having a bank account in a banking institution in Spain. If you recognize any of these situations, do not hesitate to contact us and we will help you with our Cash Handling Service in order to setting up a business in Spain.