Create a company in Palma de Mallorca: everything you need to know

Palma de Mallorca is not only a top tourist destination. It is also a privileged environment for doing business. Its connectivity, economic dynamism, and quality of life make this city an excellent option for entrepreneurs.

Advantages of Starting a Business in Palma

Palma offers a range of advantages that boost business activity. Here are some of the most relevant:

• International connections: Thanks to its airport and port, Palma is well connected to major cities in Europe and the Mediterranean.
• Climate and environment: Its excellent climate, landscapes, and cultural offerings make it attractive for both business owners and employees.
• Consolidated tourism sector: Tourism is one of the main drivers of the local economy, opening up numerous business opportunities.
• Entrepreneurial incentives and support: The island offers support programs and grants to encourage the creation of companies.

 

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Most Common Types of Companies in Palma

In Palma, the most common legal form is the Limited Liability Company (SL). This structure is ideal for SMEs, combining flexibility, asset protection, and legal security.

Additionally, its formation is fairly simple: a minimum capital of €3,000 is required, along with a legal framework suited to the needs of small business owners.

Essential Steps to Start a Business in Palma

If you have decided to establish an SL in Palma, here are the steps you should follow:

• Name reservation: Obtain the certificate of company name to ensure that your chosen name is unique.
• Open a bank account: Deposit the initial share capital into an account in the name of the future company.
• Draft statutes: Define the bylaws that will govern your company.
• Notarized signing: Formalize the company’s incorporation deed before a notary.
• Register with the Commercial Registry: This step officially establishes your company.
• Obtain the final CIF: Apply for the company’s Tax Identification Code.
• Register business activity: Register the company’s economic activity with the Tax Agency (form 036).

Support to Start a Business in Palma

If you are planning to start a company in Palma de Mallorca, it is important to know the available grants and financing programs. The island offers various support initiatives to facilitate access to financial resources and encourage entrepreneurship.

ISBA-CAIB Financing:

The Balearic Government, together with ISBA, SGR, has launched a call for 2024 and 2025 aimed at companies operating on the islands. This support covers costs such as opening fees, interest, or guarantees for financial operations, both for liquidity and productive investments or innovation.

• Operations must be formalized between December 1, 2023, and November 30, 2025.
• The application deadline for these grants is December 5, 2025.

Youth Self-Employment Grants:

The Mallorca Chamber of Commerce offers support for young people registered in the National Youth Guarantee System. These grants amount to €600 and are linked to the Young Talent program. Currently, no active calls are open, but it is advisable to stay updated on future announcements.

✅ How We Can Help You at Adlanter

We know that establishing a company can be a complex process. At Adlanter, we provide a comprehensive service so you can focus on developing your business while we handle the procedures. From choosing the legal structure to tax registration, we are with you every step of the way.

Ready to take the leap? 📲​ Contact our corporate experts and discover how we can help you bring your business idea to life in Palma de Mallorca. Together, we’ll make your business take off successfully.