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-   -   setting up a company in spain and working any advice please (https://britishexpats.com/forum/spain-75/setting-up-company-spain-working-any-advice-please-915632/)

gemscot Aug 3rd 2018 8:30 am

setting up a company in spain and working any advice please
 
I am planning to retire early from my work and more to Spain however they have suggested that I could do some consultancy work but would have to set up my own company - anyone else done such a thing and have they chosen UK or Spain for the country to set a company up in? - any thoughts of advice would be appreciated

mikelincs Aug 3rd 2018 9:29 am

Re: setting up a company in spain and working any advice please
 

Originally Posted by gemscot (Post 12542483)
I am planning to retire early from my work and more to Spain however they have suggested that I could do some consultancy work but would have to set up my own company - anyone else done such a thing and have they chosen UK or Spain for the country to set a company up in? - any thoughts of advice would be appreciated

Difficult to give real advice as you do not say WHEN you are looking to move to Spain and set up this business, Brexit may well have a big impact on what happens, or it may not, who knows.

gemscot Aug 3rd 2018 10:17 am

Re: setting up a company in spain and working any advice please
 
end of this year - thanks for pointing this out - just curious if someone has done a similar exercise already

Smithy73 Aug 3rd 2018 10:06 pm

Re: setting up a company in spain and working any advice please
 

Originally Posted by gemscot (Post 12542532)
end of this year - thanks for pointing this out - just curious if someone has done a similar exercise already

Yes we have a UK Ltd company that pays us both a salary and I am Autonomo here in Spain for my business here.
What kind of figure of are thinking of earning on a monthly basis?

gemscot Aug 8th 2018 9:25 am

Re: setting up a company in spain and working any advice please
 
thanks Smithy - I am not really thinking about the earning so much so could easily leave the cash building in the company if it was more efficient - I guess I just need a mechanism and of course not sure whether to domicile company in UK or Spain so any thoughts would be great

mikelincs Aug 8th 2018 10:29 am

Re: setting up a company in spain and working any advice please
 

Originally Posted by gemscot (Post 12544879)
thanks Smithy - I am not really thinking about the earning so much so could easily leave the cash building in the company if it was more efficient - I guess I just need a mechanism and of course not sure whether to domicile company in UK or Spain so any thoughts would be great

If you move to Spain you will either have to domicile your company in Spain or set up as autonomo to work as a contractor for that company. You would, in any case, be taxed on your worldwide income when you are living in Spain.

gemscot Aug 8th 2018 10:53 am

Re: setting up a company in spain and working any advice please
 
thanks that makes sense however if the company said made euro50k a year and me and the wife drew $16k between us then there would be a surplus of euro34k. Now given that this role is not likely to last forever then I could draw this out over subsequent tax years but of course I guess there would be a corporation tax liability of 19% which I guess I cannot avoid

So trying to understand what would happen to retained profit and whether this is more efficient


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