The companies are obligated to prepare their financial statements in accordance with accounting principles promulgated by the Code of Commerce, the Spanish General Accounting Plan, and other applicable regulations (Spanish GAAP). While listed, companies are required to prepare their consolidated financial statements in accordance with International Reporting Standards (IFRS).
YourGlobalPro professionals can assist you with the entire bookkeeping and accounting services for your Spain Business Setup as per your business needs including implementation of financial accounting software, accounting records preparation and time to time preparation of budgets, forecasts.
In Spain, all companies are required to prepare annual financial statements and file these with the Mercantile Register. The financial statements are comprised of various documents, which are a balance sheet, an income statement, a statement of changes in equity, a statement of cash flows, and explanatory notes. Regardless of the size of the company a company may be required to be audited, if it is contained in its charter for the Company.
Based on the size of the business – the companies are required to prepare and file financial statements with the Authority. YourGlobalPro professionals provide you auditing services as required by your business.
The accounts can be opened and maintained in multi-currency and is available for all major currencies. The documentation requirement differs from Bank to Bank and need to be complied for the Bank account opening. The major banks in Spain are Banco Santander, BBVA (Banco Bilbao Vizcaya Argentaria), Banesto S.A, Caixabank, Bankia S.A, Banco popular espanol, Deutsche bank Spain, Barclays Spain, Banco Pastor, S.A, CaixaCatalunya. All banks are stable, reliable and offer the same level of services.
YourGlobalPro professionals can facilitate all the paper work in relation to banking need and can assist you in opening bank account for your business plan in Spain.