Nowadays, there are many people who are partners in a company but who, for various reasons, must move their tax residence outside of Spain . We have discussed in previous articles the taxation of Spaniards who move abroad to work as self-employed or employed by others. But what happens if you are a shareholder in an entity? Is it possible to continue being one if you become a tax resident in another country?
First of all, it should be noted that entities incorporated in Spain must have their registered office and tax domicile here . Otherwise, it would be a non-resident company that would be taxed as such. The registered office determines the location in which they must file phone number for business their annual accounts. But this does not mean that the shareholders must reside in our country. They do not even have to be Spanish. It is even possible for a foreigner to acquire shares in a Spanish entity. The only thing that this entails is greater complexity in the procedures.
to be present at the time of incorporation, he/she must grant a power of representation to a person residing in Spain to sign before a notary. If the foreign partner is a company, it will be the representative of the company who grants the power of representation by appearing before a notary of his/her country who will be in charge of drafting the document. This power of attorney must contain certain details required by Spanish law. The document will be stamped with the Apostille of the Hague Convention of 5 October 1961.