You manage your business personally and directly, the initial formalities are simple and start up capital is not needed. Taxes payable are based on profit.
The main “drawback” is that the self-employed person’s liability is unlimited, as it extends to all their assets.
Getting bank loans is more complicated.
- TAX AUTHORITIES: IAE (alta de inicio de actividad)
- SOCIAL SECURITY: RETA, CCC request, worker registry, risk prevention
- LOCAL AUTHORITIES: municipal licenses and permits
- OTHER FORMALITIES: claim forms, visitors’ book, data protection, work calendar, contracts, Junta de Andalucía’s registration, patents and trade marks, electronic signature