The essential steps to Minding Your Own Business on the Costa del Sol

Thinking of running a business on the Costa del Sol? Whether a café, garage or retail shop, understanding the legal and administrative steps is key.

For non-EU nationals, the first consideration is visa. Operating a business requires a residence visa with work authorisation. Some entrepreneurs initially enter via other routes – family member residency or investor visas – depending on personal circumstances.

Alongside visa, an NIE (Número de Identidad de Extranjero) is essential. This is required for all financial and legal transactions, including buying a business, opening accounts, and signing contracts.

A Spanish bank account is essential to manage daily operations, pay taxes, receive payments and establish financial credibility. Banks generally request NIE, proof of address, and valid identification.

When structuring a business, many choose a Sociedad Limitada (S.L.), – limited liability company – over self-employment (autónomo) as it offers protection by separating personal from business assets. Setting up an S.L. involves reserving a company name, a minimum capital of €3,000, signing at notary and registering with the Commercial Registry.

Finally, registration with the tax authorities and Social Security if employing staff. Operating licences may be required and can be transferred or applied anew, depending on business activity.

At Mind Your Own Business, besides handling business transfers, we offer a network of qualified lawyers, accountants and gestorias to guide your entrepreneurial journey.

www.business-sales-spain.com

Calle Mérida de Jarales, Local 4, 29649 Calahonda, Málaga

M: +34 663 061 669  |   O: +34 951 666 715   |   E: infor@business-sales-spain.com