Why Launch a Fintech Company in Spain?
Spain’s financial sector is undergoing rapid digital transformation. The country offers:
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📈 A growing fintech ecosystem in hubs like Madrid, Barcelona, and Valencia
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💰 Access to EU markets with a single license (passporting)
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🔐 Regulatory clarity under EU directives (PSD2, AMLD, MiFID II)
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🧑💻 Supportive innovation programs (e.g., CNMV’s fintech sandbox)
Spain is ideal for launching digital payment platforms, neobanks, robo-advisors, crowdfunding platforms, and blockchain-based services.
🏛️ Legal Structures for Fintech Startups
To operate a fintech business, you must first form a company. Common options include:
| Type of Company | Description |
|---|---|
| Sociedad Limitada (SL) | Limited Liability Company – ideal for startups |
| Sociedad Anónima (SA) | Public Limited Company – for larger capital needs |
📌 All founders need NIEs (foreigner IDs), and companies must be registered at the Mercantile Registry.
📑 Regulatory Framework for Fintech in Spain
Depending on your service type, you may need to comply with:
🔐 Payment Services
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Requires license under PSD2 from Bank of Spain
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Applies to: payment platforms, e-wallets, money transfer apps
💳 E-Money Institutions (EMIs)
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Must register and obtain EMI license
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Subject to capital requirements (€350,000+)
📈 Investment Services
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Supervised by CNMV (Spain’s Securities Market Commission)
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Applies to robo-advisors, investment platforms, tokenized assets
🤝 Crowdfunding Platforms
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Regulated under EU Crowdfunding Regulation (ECSPR)
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Must register with CNMV and meet investor protection standards
📌 AML compliance, data protection (GDPR), and cybersecurity are mandatory across all fintech categories.
🧾 Steps to Open a Fintech Company in Spain
Step-by-Step Guide:
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🏢 Incorporate the Legal Entity (SL or SA)
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Draft bylaws
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Obtain NIEs and NIF
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Deposit minimum share capital (€3,000 for SL)
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🧑💼 Appoint Directors & Compliance Officer
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Ensure fit & proper status
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Prepare for regulatory interviews
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🗂️ Apply for the Relevant License
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Submit documentation to CNMV or Bank of Spain
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Business plan, KYC/AML framework, IT systems overview
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🔎 Register for Taxes & Social Security
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VAT registration, local tax compliance, and employee setup
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🛡️ Ensure GDPR and AML Compliance
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Implement privacy policy, risk procedures, and security controls
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✅ Sandbox participation is available for innovative projects (apply via CNMV’s sandbox program)
📊 Real Case Example
Client: A UK-based payment startup opened a Spanish SL and applied for a Payment Institution license.
We handled their incorporation, sandbox application, and licensing process—launching operations in 8 months with EU passporting rights.
👨⚖️ Legal Support from Borderless Lawyers
Our fintech legal services include:
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✅ Company formation for fintech founders
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✅ Licensing with Bank of Spain and CNMV
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✅ AML and GDPR compliance
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✅ Regulatory sandbox participation
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✅ Ongoing legal and compliance support