At Global Mind Advisors, we specialize in providing advice to SMEs (Small and Medium-sized Enterprises) and self-employed individuals.
We believe that having a good advisory service is crucial for ensuring efficient and successful business management.
Services
We offer continuous support in tax management, including tax declaration preparation and filing, advice on the best tax strategies, as well as financial resource planning and management.
We handle the maintenance of financial records, preparation of financial reports, and annual account filing.
Assistance in human resources management, including contract management, payroll processing, social security contributions, employee hire and dismissal, and other matters related to labor regulations.
Self-Employed Individuals
A self-employed individual or a freelancer is a person who works independently and does not have an employer-employee relationship with any company or employer. They organize their work schedule and use their own materials and structure to carry out their work.
Within the category of self-employed individuals, there are three main classifications of activities based on their IAE (Tax Activities Index):
1
Small business owners who operate their own businesses such as shops or restaurants.
2
Independent professionals, such as doctors, lawyers, consultants, graphic designers, programmers (among others), whose work requires a professional qualification.
3
Musicians, athletes, and film actors (among others).
In Spain, self-employed individuals have several legal and tax obligations that they must fulfill.
Some of the main ones include:
All self-employed individuals must register in the Special Regime for Self-Employed Workers of the Social Security, either in person or through the Social Security Electronic system.
Self-employed individuals are required to make monthly Social Security contributions based on their contribution base.
Self-employed individuals must submit quarterly tax declarations, including the VAT (model 303) and quarterly income tax (model 130). Additionally, they must file the annual income tax return (model 100) like any other citizen.
Self-employed individuals must issue invoices for the services they provide and maintain a detailed record of all their transactions.
Self-employed individuals are obligated to keep accounting records of their income and expenses, as well as retain all receipts and invoices related to their activities. The main official books include:
Depending on the type of activity they engage in, self-employed individuals may need to obtain specific licenses and permits to operate legally.
It's important to comply with the obligations mentioned above. Non-compliance can lead to sanctions or fines by the relevant authorities.
SMEs
In Spain, an SME (Small and Medium-sized Enterprise) is defined based on the number of employees and annual turnover or total value of the balance sheet.
According to Spanish legislation, a company is considered an SME if it meets the following criteria:
Fewer than 10 employees and an annual turnover or total annual balance not exceeding 2 million euros.
Fewer than 50 employees and an annual turnover or total annual balance not exceeding 10 million euros.
It's important to comply with the obligations mentioned above. Non-compliance can lead to sanctions or fines by the relevant authorities.
Complying with current regulations and the obligations outlined therein is our top priority to provide excellent service to our clients.
Below are some of the most important obligations:
