Friday, 10 March 2017

THE FIRST STEP TOWARDS INVESTMENT IN SPAIN





Starting to operate in Spain, either as a buyer, a lessor, an administrator… or simply as an employee, requires a registration at the Spanish Inland Revenue. At the time of the registration, the Spanish Inland Revenue assigns the concerned a Tax Identification Number for Foreigners, known as „N.I.E.“.

Any foreigner who wants to carry out a transaction in Spain (open a bank account, set up a business, rent/buy a home…) needs this number.

Some years ago, the „N.I.E.“ was obtained almost immediately, but the huge demand has caused a slowdown at the Public Administration. Currently, an application for a N.I.E. in absence of the concerned may take as long as two weeks.

Notwithstanding, the procedure can be speeded up enormously, if the concerned accompanies us to the Foreign Office to apply for the N.I.E.

Notice that, nowadays, only registered lawyers are allowed to represent someone at the Foreign Office.



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