Are you thinking of moving to Spain and wondering how to make it happen? Do not look any further! By using the benefits of the Estonian OÜ, you can simplify the process of relocating to Spain. In this article, you will learn the necessary steps regarding the use of your Estonian OÜ to make your transfer to Spain a success.
What is an Estonian OÜ?
An OÜ is an Estonian private limited liability company with ease of creation offering advantages such as low corporate taxes and remote management. It is a process you can do yourself or with the help of an online company incorporation service, such as Entre Trámites, which has highly-skilled specialists in the process of company formation.
On the other hand, when talking about immigrating, by creating an OÜ in Estonia, individuals can benefit while continuing to reside and work in Spain. But it is important to remember that, although an OÜ can be a practical means of international relocation, it is essential to comply with the laws and regulations of both countries.
Estonia, for its part, has one of the lowest corporate tax rates in the European Union, which makes it a profitable option for doing business in Spain. However, it is vital to keep in mind that there are basic requirements that must be met.
Requirements for the Estonian OÜ Program
Applicants must be:
- Over 18 years.
- Able to demonstrate financial stability. This means having a valid bank account with a balance of at least 60,000 euros or a professional bond of at least 12,000 euros to the government.
- Able to provide proof of previous travel. This includes a passport and documentation of visits to other countries.
- Able to provide proof of a current health insurance policy with coverage in Spain.
- In possession of a valid passport issued by a country aligned with Spanish laws.
- In possession of an official criminal record certificate.
- In possession of a valid visa or another legal document allowing travel to Spain.
- In possession of an official certificate of professional qualification if you are self-employed.
- In possession of a valid contract with a Spanish company if you are an entrepreneur.
- You can prove that you are self-employed.
In addition to meeting these requirements and whether you are starting a new business, looking for employment opportunities or simply want to enjoy the Spanish lifestyle, you should consider the following methods you can use to legally enter Spain:
Obtaining a business or entrepreneur visa
For individuals wishing to relocate through an Estonian OÜ, obtaining a business or entrepreneur visa is an essential step for starting and managing operations in Spain.
This type of visa allows an individual to contribute financially to the country, but it must be accompanied by a business plan outlining the feasibility and expected success of the business. In addition, applicants must demonstrate that they have the necessary financial resources to support themselves and the company in Spain.
Registration of an Estonian OÜ in Spain
The establishment of an Estonian OÜ in Spain can be a great opportunity for entrepreneurs. The registration process is quite simple and can be done completely online. The Spanish government has made considerable efforts to make the process of setting up and managing a company effortless, making it an attractive destination for business.
The initial step to register an Estonian OÜ in Spain is to select an appropriate name for the company. The name must be unique and no other company in the country can be registered under it. After choosing a name, you must register the company with the Spanish Mercantile Registry by submitting the necessary documents and paying the registration fee.
Obtaining the Tax Identification Number
After registering the OÜ in Spain, you must acquire a tax identification number (NIF). It is essential to open a bank account, hire employees and carry out transactions in the country. To get a NIF, you must submit an application to the Spanish Tax Agency. This process usually takes about two weeks.
Once you have successfully registered your Estonian OÜ in Spain and obtained a VAT number, you are ready to start doing business. However, when transferring an Estonian OÜ to Spain, it is extremely important to know the applicable laws and regulations.
To ensure compliance and avoid any problems with the authorities, it is advisable to seek professional advice. Taxation is a particularly complex area and must be taken into account when operating in Spain. It is essential to know the corporate tax, the value-added tax (“IVA” in Spain), the personal income tax (or, as known in Spain, “IRPF”), and the wealth tax. In addition, it is essential to know the labor laws and adhere to regulations on minimum wage, working hours, and social security contributions.
By understanding and obeying these laws and regulations, you can avoid any fines or other penalties that may arise. In short, becoming familiar with the legal framework is key to a successful and legally sound business operation in Spain.
Registering in the Municipal Register
In order to move to Estonia through an OÜ, it is essential to register in the Municipal Register of your city. This registry keeps track of all citizens and inhabitants of the municipality, and it is necessary to complete the registration within a certain period of time, thus avoiding any fines or legal problems.
To register, you must show your identity card, passport and rental contract at the local police station or town hall. Once completed, you will be given a Certificate of Empadronamiento, which is required for certain procedures, such as creating a bank account or obtaining a health card.
It is important to keep your Empadronamiento up to date in order to benefit from it. In the same municipality, you must update your details within one month if you move. If you relocate to another municipality, you must register in the new registry within three months.
Obtaining the Spanish passport
For those intending to move to Spain via an Estonian OÜ, obtaining a Spanish passport is an essential step. It provides the same rights as Spanish citizens, such as the right to live, work and travel freely within the European Union. This document can be applied for at the police station or embassy. It is important to make sure that your passport is valid for your entire stay in Spain, as it is required for travel within the European Union.
Obtaining the Digital Nomad Visa
This is another benefit that you can access through an Estonian OÜ, but for this, you must take into account the following steps:
Step 1: Write a business plan
The first step is to write a comprehensive business plan that demonstrates your business skills and outlines the details of your project. The aim is to demonstrate to the Spanish Government that your idea is viable and has the potential to generate value for the Spanish economy.
Step 2: Submit the application form
Once your business plan is ready, you need to fill out and submit the Estonian OÜ application form. The form requires information about your economic situation, the activities you plan to carry out in Spain and the resources you have to start your project.
You will also need to attach supporting documents such as a copy of your current passport, a copy of your professional qualifications, and proof of financial stability.
Step 3: Wait for the response to the application
Once you have submitted your Estonian OÜ application form, you will have to wait for the response of the applications committee. The average processing time is two to four weeks but can vary depending on the number of requests.
Step 4: Appointment with the Spanish consulate
If your application is approved, you will need to make an appointment with your Spanish consulate. At the appointment, you have to hand in your passport and other documents demonstrating your identity before signing the official residence contract establishing the conditions of your residence in Spain.
Step 5: Enter Spain with your residence permit
Once your application is completed and approved, your Estonian OÜ residence permit will be issued to you. You can then use it to travel to Spain and start your new life as a digital nomad in Spain.
Without a doubt, using an Estonian OÜ to relocate to Spain can be a smart financial decision for those looking to start a new life abroad.
However, it is important to investigate thoroughly and prepare yourself in financial and regulatory terms, so that you can avoid any irregularities in Estonia or Spain.
Many entrepreneurs around the world are thinking about how they will move forward with their business ideas. If you’re considering using your Estonian OÜ to relocate to Spain, just book an online consultation, text our WhatsApp, or fill in our contact form and we will call you to help you as soon as possible.