self employment

2 Replies
asher-9053

1207226552

Message

can't seem to find info on this within the site, so hopefully someone can offer a good link... i'm planning on starting my own business here in mallorca within the next few weeks. i've been here for 5 years or so & am a resident, so that's sorted. i just really need some guidance as to the steps involved, from an administration side of things, in setting up as a sole trader. the bank account side of things will be fairly straightforward i guess; i'm more concerned with being 'official', paying the correct level of tax, social security etc. i know i could pay a gestor to do all this for me, but i feel i should know & understand what i'm getting into too! help?! asher

Replies

mark-8731 1207572763


Asher,

It really depends what your intentions are with your business.
Like in the UK, there are systems for sole traders and companies, so depending on what you want to do, it may be better with one or the other.

Most people take the option of Autonomo or self employed.

This is ideal for many people as you only need to have an NIE number and then register at the Hacienda and Social Security offices.

You then have to keep and submit accounts quarterly and pay any taxes or IVA due.

The alternative to Autonomo is to create an SL which is much like a LTD company but there is a lot more work involved with this and more complications but you could benefit from the tax advantages.

You really need to get some good advice.

Speak to as many people as possible, and then some more. Get someone to help you who is ideally a professional in their field and you trust.

Ask to get some recommends from their clients if you are not sure.

Like in any business it pays to be informed.






mark

asher-9053 1207652909

thanks for that mark.


since my original post i've gathered a LOT of info!


with regards the actual setting up of the business from a legal side of things (i shall be a sole trader), i'll be using the services of a good gestor to deal with that.


thanks again!



asher

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