How to Start a Company – Read These 10 Steps

Step 1: Choose the Type of Company

If you already have the business idea you want to develop and think will bring you economic benefit, it is time to decide on the type of company that best suits your business. You can find public limited companies, partnerships, joint ownership, etc.

Step 2: Company Name Registration

Possibly, before choosing the type of company that best suits your business, you have had a name in mind for it. Well, at this point, it is time to check if that company name is available to be used in your business, or on the contrary, you need to think of another.

You can go to a Mercantile Registry office or do it online to carry out this name verification. In this way, the Mercantile Registry will inform us if the name we have chosen for our business is unique and exclusive.

Step 3: Financing the Project

Before proceeding with the complete registration of the company, a monetary amount, known as Social Capital, must be deposited in a bank. This amount will be higher or lower depending on the type of company chosen in step 1.

Step 4: Application for the NIF at the Tax Agency

The NIF will serve to identify your company in the future. To obtain it, you must go to any office of the Tax Agency and submit the provisional documentation, which is made up of Form 036, a copy of the company’s construction deed, and a copy of its bylaws.

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Before six months of this provisional documentation have elapsed, the definitive documentation must be delivered, including the company deed.

Step 5: Creation of the Company

With all of the above fulfilled and carried out, the partner or partners of the companies must sign a public deed before a notary that reflects the company’s creation.

Step 6: Registration of the Company in the Mercantile Registry

With the previous step, the company is not yet entirely created. Before this occurs, you will have to go to the Mercantile Registry of the province where the company is domiciled.

The company’s registration in the Mercantile Registry will give the partner or partners of the company complete legal competence of the same.

Step 7: Register for the Tax on Economic Activities (IAE)

Knowing already the business activity that will carry out in our company, you must go to an office of the Tax Agency and register for this tax.

Step 8: Legalize the Companies Book

The company book will include the inventory book, the annual account book, and the daily book of the company. To legalize it, you must go to the Mercantile Registry of the province where the company is located to request it. There they will put an official certificate on the first page of each book, and on the rest of the pages, they will put a Registry stamp on us.

Step 9: Trademark Registration

The last step before the final start-up of the company is to register all the words, images, or logos that will identify the company.

This registration must be done in the Patent and Trademark Office, despite having previously registered the company’s name in the Mercantile Registry. This new registration is done to protect the trademark against fraudulent use that may be made of it.

Step 10: Start-up of the Company

We are ready to set up our business with all the previous procedures already carried out and approved correctly. Depending on the type of company that has been chosen to set up, we will have to carry out some extra procedures or not.

If our business has a direct and personal relationship with the client, the company must have privacy policies that guarantee a personal relationship with the client. These policies must be visible at all times to the client.