How do I set up a company in Galicia? What are the first steps I should take? What support can I count on?

These are some of the frequent questions that many entrepreneurs ask themselves when they start to shape their business projects. Between the idea and the creation of a business project, there are several important steps that must be taken into account to ensure the success of the process:

1. Create a business plan. No matter how good the idea, it must be supported by sound business and commercial planning. This should include, among many other aspects, the initial objective and scope of the project and a detailed market study, analysing the current situation of the sector, the most important trends and the existing competition. The internal and external characteristics should also be analysed by means of a table of weaknesses, strengths, challenges and opportunities. It is also important to establish realistic and measurable short-term milestones to assess the company's performance and make decisions.
2. Choice of legal status (self-employed, public limited company, limited company, cooperative, etc.), establishing a name and checking that there is no other company with the same name. At the same time, it is also possible to apply for a trademark reservation at the Spanish Patent and Trademark Office (Oficina Española de Patentes y Marcas).
3. On the financial side, it is necessary to establish a single and exclusive bank account for the company, into which the share capital will be paid. It is important to request a certificate of deposit from the bank stating the details of the shareholder(s) and the contributions made.
4. Drawing up the articles of association. These contain a number of essential details, such as the name, capital, registered office, administrative body, distribution of dividends, etc.
5. Notarisation in the presence of a notary.
6. Registration of the company with the tax office (Agencia Tributaria) using form 036.
7. With the provisional NIF obtained in the previous step, register the company in the Mercantile Register of the corresponding province to obtain full legal competence. With all these steps completed, the definitive NIF can now be applied for.

Advice and investment support

In the process of entrepreneurship, it is essential to have the advice and support of experts and specialised organisations.

The Xunta de Galicia offers various forms of support. Of particular note is the work of the Galician Institute for Economic Promotion, whose mission is to support those activities that contribute to improving the Galician business fabric, promoting areas of work such as financing, competitiveness, internationalisation, entrepreneurship, training and technological innovation.

For its part, the Oficina Galicia Empresa also offers the necessary support to help make different businesses and business projects a reality. On its website you can access a complete search engine with the financial support available to best suit the project. In addition, the portal has a series of step-by-step catalogues that show the process of creating initiatives in different sectors. And, using the project evaluator, you can fill out an easy form to check whether the initiative meets the requirements to be declared a Priority Business Initiative or a Priority Business Project. Finally, the section on Enterprising Municialities has a map showing the location of all the municipalities currently participating in this initiative and which are committed, in this way, to guaranteeing entrepreneurs more tax incentives, more administrative simplification and more facilities for access to industrial land. In addition, having a registered office in one of them means additional points in different calls for support from the Xunta de Galicia.

Also noteworthy is the fundamental role of the Xunta's Network of Entrepreneurship and Employment Support Centers, which will continue to be deployed throughout Galicia. Eight poles are currently operational: Ourense centre and south and Miño Central in the province of Ourense; Pontevedra north and Rías Baixas in the province of Pontevedra; Costa da Morte and Rías Altas and Arco Ártabro, in the province of Coruña; and Lugo south, Montaña Lucense and A Mariña, in the province of Lugo. Its objective is to promote and consolidate entrepreneurial projects that have a link with their environment, through continuous accompaniment and advice; methodology adapted to each project; and tutoring with top-level professionals.