New Enterprise, Ltd.
business creation
the easy way
the best start
New Enterprise, Ltd.
Aim:
To promote the creation of more SMEs, more simply, more quickly, and with a better start in life
How?:
By simplifying the administrative process and providing integral, tailored advisory services for newly created SMEs
New Enterprise, Ltd.
Key elements of the project:
1. “New Enterprise” Limited Company Act (Act 7/2003) 2. Simplified Accounting Regime (Royal Decree 296/2004) 3. Information Centre and Business Creation Network CIRCE (Royal Decree 682/2003)
“New Enterprise” Limited Company Act
AIM:
To create a simplified legal framework specially geared to the needs and operational structures of small firms, providing a fast, simple start-up formula.
MAIN FEATURES:
A new variant of the Private Limited Company (S.L. in Spain), with capital stock divided into equity units. Owners are not personally liable for the debts of the company. “New Enterprise” companies are set up for an unlimited duration. “New Enterprise” companies can have up to five incorporating members, who must all be natural persons. However, this number can later be increased indefinitely via the transfer of units. The minimum capital is the same as for any Private Limited Company (€3,012) and must be paid up in cash. The ceiling capital level is set at €120,202. Their corporate purpose is stated in general terms (so they have the flexibility to perform different business activities without having to amend their memorandum of association). They can use a standard memorandum of association, enabling the company to be set up in 48 hours. They can use an accounting model especially adapted to the reality of microfirms, which complies with financial and tax reporting rules and also serves as a management tool.
Information Centre and Business Creation Network - CIRCE
The CIRCE Information Centre and Business Creation Network: CIRCE is an information system for the online registration of “New Enterprise” limited companies.
Component elements: a) A nationwide network of Enterprise Creation Advisory and Initiation Points (PAITs) b) The CIRCE portal c) The Electronic Processing System (STT)
Information Centre and Business Creation Network – CIRCE (Contd)
PAITs. Enterprise Creation Advisory and Initiation Points
a) Public and private agencies b) Information and advice service c) Starting point for online registration of “New
Enterprise” ventures
d) PAIT set-up agreement
Information Centre and Business Creation Network – CIRCE (Contd)
Electronic Processing System
The IT system for processing business creation applications based on the Single Electronic Document (SED). The SED is an electronic instrument uniting all the data that must be provided to legal registries and to the official departments in charge of approving the creation of “New Enterprise” limited companies.
The SED has the following characteristics:
A one-stop document: uniting all the paperwork needed to create and start up a “New Enterprise” limited company. Replaces the 15 forms previously required. Electronic-online application: making intensive use of ICTs to radically reduce the lead time to business start-up.
STT-CIRCE
Face-to-face Entrepreneur Online
CIRCE www.circe.es Log on
Notary Public
Social Security
INTERNET
PACDUE user
INTERNET
Workflow and Documentation Manager
Inland Revenue
PACDUE user
Correspondence and Signature Manager
Provincial Mercantile Registry Central Registry Regional Govt.
STT-CIRCE Actors and process
.ES Registry
Internet domain name
SED
Details of vessel
PAIT
Fishing licence
Directorate General of the Merchant Navy
Step 1
General Secretariat of Fisheries
Co. name reservation Certificate/Bill
STT-CIRCE
Company name
SED
Step 3
Certificate/Bill Print notification
Central Mercantile Registry
Print notification
Certificate/Bill
Step 2
Unregistered deed Print notification Unregistered deed Provisional tax number Transfer taxStamp duty PMR entry number Submission receipt Transfer tax-Stamp duty Social Security enrollment Registration submission Submission receipt Resolution Registerd deed Definitive tax Identity number Provisional tax number Start-up declaration Resolution Registered deed
Transfer tax-Stamp duty
AUTONOMOUS COMMUNITY
Provisional tax number Start-up declaration
Step 5 Step 7
Social Security enrollment data Resolution
Step 8
Step 4
Registration submission Submission receipt Resolution
Definitive tax number
Step 6
Step 9
Provincial Mercantile Registry (PMR)
Results
Simplified legal and accounting framework. (Act 7/2003 of 1 April on
the “New Enterprise” limited company and Simplified accounting regime)
One-stop shops for business creation. (PAITs) One-stop form for business creation. (Single Electronic Document SED) Simplification of administrative formalities. (Use of ICT) Adaptation of tax law. (Tax measures contained in the
New Enterprise Act)
A fast, streamlined incorporation process. (Coordination between government departments)
Work in progress
Extension of the online registration option to all private limited companies. Free change of company name. (Article 25 of the Productivity Act). Rollout of a Mentoring Programme (TUTELA) for firms setting up by electronic means. PI+D+i network (PAITS to serve also as information points on official
R&D and Innovation subsidies).
Coordination between PAIT network and the One-Stop Shop Network.
End
http://www.ipyme.es
http://www.circe.es
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Thank you