Articles
Open a Cryptocurrency Company in Spain
Updated on Tuesday 19th December 2017 Rate this article
based on 1 reviews
based on 1 reviews
A cryptocurrency company uses digital currencies for various types of transactions. Spain is a member state of the European Union (EU) and the Community has not introduced yet a specific rule of law regulating this sector. At the moment, each country of the EU can set up various regulations on cryptocurrency businesses and Spain has specific regulations addressing to this field. Investors who want to open a company in Spain should know that specific articles of the Spanish Civil Code protect the operations of such businesses; our team of specialists in company formation in Spain can offer consultancy services on the available legislation, depending on the company’s business activities. Cryptocurrency mining in Spain
Companies performing cryptocurrency mining activities will be taxed under new rules of law imposed by the Spanish government. Cryptocurrency mining refers to the procedure through which transactions carried out through virtual currencies are verified. Those interested in company registration in Spain in this field should know that the National Directorate of Tax announced that cryptocurrency mining activities will be taxed as such operations are included in the category of economic activities. Our team of agents in company registration in Spain can offer further information on the new legislative proposal.
In this sense, cryptocurrency miners will be required to register with the Spanish authorities for taxation purposes and this should be completed prior to submitting the taxes associated with operations deriving from cryptocurrency mining.
The legislation is not yet applicable in Spain, but it may be enforced to prevent a set of associated criminal activities that are usually encountered in this field, such as:
• money laundering;
• tax evasion;
• cybercriminal activities.
Cryptocurrency ATMs in Spain
The Spanish market already provides numerous automatic teller machines (ATMs) which can be used for cryptocurrency payments. For example, across the Spanish territory, there are 39 Bitcoin ATMs (Bitcoin being the most popular type of virtual currency, launched in 2009), most of them operating in the following cities:
• Barcelona - 7 ATMs;
• Madrid - 5;
• Malaga - 4;
• Marbella - 3.
Businessmen are invited to contact our team of consultants in company formation in Spain for assistance on the registration steps imposed under the local legislation.
Meet us in Madrid and Barcelona
Call us now at +34 915 36 78 06 or +34 938 074 056 to set up an appointment with Federico Richardson, one of our specialists in company formation in Madrid and Barcelona. Alternatively you can incorporate your company without traveling to Spain.
As a Lexidy Law Boutique SLP client, you will benefit from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Spain.
Contact us