🏙️ Office Options in Palma de Mallorca
To legally operate a business in Palma, you need a fiscal address. Depending on your business type, you can choose from:
| Type | Best For |
|---|---|
| Private office space | SL companies, agencies, consultancies |
| Retail premises | Shops, salons, hospitality |
| Coworking space | Freelancers, startups, remote workers |
| Virtual office | Remote businesses needing a tax address |
| Industrial premises | Storage, logistics, trades |
📌 We help you secure a compliant business location or virtual address in Palma.
📝 Leasing Commercial Property in Palma
Before signing any lease, check for:
-
Licensing: Ensure the premises are zoned for your business type
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Opening license (licencia de apertura): Required for physical locations
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Lease duration: 5 years is standard for commercial spaces
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Deposit: Usually 2–3 months’ rent
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Early exit clauses: Review for penalties or restrictions
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Language: Contracts are in Spanish — legal review is essential
✅ We review lease agreements, verify licenses, and register your business at the correct address.
📉 Typical Rental Costs in Palma de Mallorca
| Space Type | Price Range (€/m²/month) |
|---|---|
| Standard office | €10 – €20 |
| Prime retail | €20 – €50 (Avinguda Jaume III, Paseo Marítimo) |
| Coworking desk | €150 – €300/month |
| Virtual office | €30 – €60/month |
| Industrial unit | €5 – €8 |
Prices vary by location and whether the space is seasonal or all-year.
🏦 Opening a Business Bank Account in Palma
A Spanish business bank account is needed to:
✅ Deposit SL company share capital
✅ Register for taxes (Modelo 036)
✅ Pay employees and invoices
✅ File corporate declarations
We open bank accounts in person or remotely using Power of Attorney.
🏛️ Recommended Banks in Palma de Mallorca
| Bank | Foreign-Friendly | English Service | Notes |
|---|---|---|---|
| Sabadell | ✅ Yes | ✅ Yes | Widely used by expats |
| CaixaBank | ✅ Yes | ✅ Yes (HolaBank) | Special expat division |
| BBVA | ✅ Yes | Partial | Good online banking |
| Santander | ✅ Yes | Limited | Solid traditional bank |
| N26 (online) | ✅ Yes | ✅ Yes | Only for freelancers/autónomos |
We coordinate appointments with Palma branches or complete the process remotely.
📄 Documents Required to Open a Business Account
| For SL Companies | For Freelancers (Autónomos) |
|---|---|
| NIE + CIF | NIE + Modelo 036 or 037 |
| Company incorporation deed | Proof of address |
| Articles of Association (Estatutos) | Passport or ID |
| Notarial POA (if remote setup) | Digital certificate (optional) |
💡 We prepare all legal documents and translations, and accompany you through the bank due diligence process.
⏳ Timeline to Open a Business Bank Account
| Step | Time Estimate |
|---|---|
| Apply for NIE | 5–10 days |
| Open bank account | 1–5 business days |
| Deposit share capital (SL) | Immediate |
| Obtain capital certificate | 24–48 hours |
| Finalize SL incorporation | 1–2 weeks total |
❌ Mistakes to Avoid
⛔ Renting a space not zoned for your activity
⛔ Skipping the municipal opening license
⛔ Using a personal bank account for business activity
⛔ Not providing legal documents in Spanish at the bank
⛔ Delaying the capital deposit for SL registration
🧑💼 Our Legal Support in Palma de Mallorca
Borderless Lawyers offers:
✅ Lease reviews, zoning checks, and opening license guidance
✅ Fully legal virtual office service with fiscal registration
✅ Business bank account setup (in-person or remote)
✅ SL incorporation, freelancer registration, and POA services
✅ Ongoing tax and compliance support
📞 Need Help Renting or Opening a Bank Account in Palma?
We handle every legal detail so you can open your business with clarity and confidence — even remotely.
👉 Contact us today to rent an office and open a business account in Palma de Mallorca.