Getting into Partnership with Spanish Partner for non Resident

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Member since 10 August 2020

adamsmitNew member21 May 2021 16:15:26

I am US citizen living in the US. I do not reside in Spain at all (I only have el NIE). Can I start a limited partnership business structure with a Spanish partner who lives in Spain provided I provide my part of funding and remote management of the business. Thanks.

asartori Guest

asartoriGuest21 May 2021 16:40:24

214245

My advice with a bad experience in this respect, is to stay away from it. There are all sorts of risks, and they are not only losing your investment. The other partner, unless you trust them with your life, can fob off all expenses to your account, including tax obligations, make it appear as if you spent all the capital and even claim from you at the end. Most people are friendly and honest in Spain, but with increasing hunger and economic decay, comes depravity of Spirit. I would not recommend doing business with someone you barely know from a country where people are short of cash. That said, it is possible and legal, and if you trust the person, go for it. Start small and grow it incrementally. Also the fraud may only be apparent 2 years down the line.

eddiemceleney Member

Member since 11 May 2021

eddiemceleneyMember21 May 2021 19:43:08

It does not have to a Spanish partner. It can be a partnership with any citizens from the 27 EU members.

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