How to set up a Sociedad Limitada in Bilbao: complete step-by-step guide (2026)

Grupo Asegi has been handling turnkey incorporations of Sociedades Limitadas in Bilbao since 1982. The full process takes between 2 and 4 weeks, with a total cost of €700-1,500 in professional fees and administrative costs.

The subsequent registration must be arranged with the Foral Tax Authority of Bizkaia, not with the state AEAT.

What you need before you start

Minimum capital

The minimum share capital of a Sociedad Limitada is €1 since Law 18/2022 “Crea y Crece”, which removed the previous €3,000 minimum and repealed the successive-formation SL.

While the capital is below €3,000, the company is subject to two rules:

• At least 20% of the profit must go to the legal reserve until the reserve and the capital together add up to €3,000.
• In the event of liquidation, the shareholders are jointly and severally liable for the difference up to that €3,000.

That is why, in practice, many firms including ours still recommend contributing €3,000 to avoid that liability.

Shareholders

An SL may have a single shareholder (single-member company, SLU) or several. Shareholders may be individuals or legal entities, Spanish or foreign.

Corporate purpose

The corporate purpose must clearly define the company’s main activity and, where applicable, its secondary activities. It is advisable to include several complementary activities in order to have operational flexibility.

Step 1 – Apply for the company name at the Central Commercial Registry

The company name is applied for at the Central Commercial Registry in Madrid. You propose 3-5 names in order of preference. The RMC checks whether they are available and issues a negative name certificate.

• Cost: approx. €20.
• Timescale: 2-3 working days.

Step 2 – Open a bank account and deposit the capital

Once the name has been obtained, a bank account is opened in the name of the company in formation and the share capital is deposited. The bank issues a certificate of deposit.

Step 3 – Draft the articles of association

The articles of association are the company’s “constitution”. They define:

• The company name.
• The registered office.
• The corporate purpose.
• The share capital and the shares.
• The governing body.
• The rules governing the transfer of shares.
• The grounds for dissolution.

Step 4 – Signing before a notary

With the company name, the certificate of deposit of the capital and the articles of association, you go to the notary to sign the public deed of incorporation. Notary cost: between €200 and €500 depending on capital and complexity.

Step 5 – Registration at the Bizkaia Commercial Registry

The deed is filed with the Bizkaia Commercial Registry. The Registry reviews the deed and, if everything is in order, registers the company. From that moment on, the SL officially exists as a legal entity.

• Registry cost: between €100 and €250.
• Timescale: 5-15 working days.

Step 6 – Registration with the Foral Tax Authority of Bizkaia and definitive CIF

This is a key difference from the common regime: tax registration is carried out with the Foral Tax Authority of Bizkaia, not with the state AEAT. It involves:

• Applying for the definitive NIF/CIF.
• Registration in the Census of Entrepreneurs, Professionals and Withholders.
• Declaration of commencement of activity (foral Form 036/037).
• Registration for TicketBAI from the start of the activity.

Step 7 – Social Security registration

The company director must register as a self-employed company director with the General Treasury of the Social Security. If the company is going to have employees, the business must also be registered with a contribution account code.

Real total costs