AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
An autónomo is cheaper and quicker to start and is usually the better first step for a small, low-risk business, but you are personally liable for its debts. An SL (sociedad limitada) costs more to set up and run, needs a notary and annual accounts, and separates the business's debts from your own. The choice usually turns on risk, expected profit and whether you will bring in partners or investors.
Most Nigerians who start a business in Spain face the same first choice: register as self-employed, or form a company. Both are common and both are legitimate. This guide compares them on the points that matter for a first business, and explains when switching later makes sense. Tax points are information, not advice; a gestor or tax adviser can model your own numbers.
The two forms in one table
| Point | Autónomo | SL |
|---|---|---|
| Who is the business | You, as an individual working on your own account | A separate company with its own NIF |
| Liability for debts | Personal: your own assets can be reached | Limited to the company's assets, unless you personally guarantee |
| Set-up | Register with the Agencia Tributaria and the Seguridad Social | Name certificate, notary deed, Registro Mercantil, company NIF |
| Profits taxed under | Personal income tax (IRPF), on the business profit | Corporate income tax on company profit; IRPF on salary or dividends you take out |
| Social security | Self-employed scheme, contributions based on net earnings | Directors who control the company are usually in the self-employed scheme too |
| Ongoing paperwork | Quarterly tax returns, books of income and expenses | Quarterly returns, annual accounts filed at the Registro Mercantil, corporate tax return |
| Bringing in partners | Not possible without forming a company | Shares can be issued or sold |
Liability: the main legal difference
The Estatuto del trabajo autónomo defines the self-employed as people who carry out an economic activity "de forma habitual, personal, directa, por cuenta propia" (regularly, personally, directly and on their own account) outside anyone else's direction (Ley 20/2007, article 1.1). Because there is no separate entity, unpaid business debts are your debts. An SL is a separate legal person. Its creditors are, as a rule, limited to the company's assets, though banks and landlords often ask a director to guarantee loans or leases personally, which brings personal liability back for those debts.
Cost and contributions
Since 2023 the self-employed pay Seguridad Social contributions on a scale linked to their net earnings, under the system introduced by Real Decreto-ley 13/2022. New autónomos may pay a reduced flat contribution at the start: the same decree set it at 80 euros a month for 2023 to 2025, and leaves the amount from 2026 to each year's budget law. Check the current figure with the Seguridad Social; see how the cuota is calculated and who qualifies for the tarifa plana.
An SL adds costs an autónomo does not have: notary and registry fees at set-up, a deposit of share capital, and usually a gestor or accountant for the annual accounts and corporate tax return. Ask a notary for a quotation and confirm the current minimum share capital with them. Those costs are why many founders start as autónomos and form an SL once the business is established.
Tax: when the SL starts to make sense
An autónomo's profit is added to their other income and taxed under IRPF at progressive rates, so the tax rate rises with profit. An SL pays corporate tax on its profit, and you then pay IRPF only on what you take out as salary or dividends. Once profits are high, and especially if you want to leave profit in the business, the SL can work out cheaper; at low profits, its fixed running costs usually outweigh any saving. The current rates should come from the Agencia Tributaria for the year you are in.
Worked example (illustrative only)
Example: Ada runs a catering business and expects 18,000 euros of profit in her first year. As an autónomo she pays her contributions and IRPF on that profit, with no notary, registry or annual-accounts costs. If she formed an SL, she would add set-up costs and an accountant's fee every year, while her profit is too low for any corporate tax difference to cover them. At 18,000 euros the autónomo route is the simpler and probably cheaper one. If her profit later rises well beyond what she needs to live on, she should ask a gestor to model both forms with that year's rates.
Immigration and practical points
- Your residence permit must allow self-employed work, whichever form you choose; the self-employment statute applies to foreigners who meet the requirements of Ley Orgánica 4/2000 (Ley 20/2007, article 1.4).
- An SL's foreign directors and shareholders each need a NIE; see NIE rules for directors.
- Banks ask for more from an SL; see opening a business account.
- You can move from autónomo to SL later; the reverse is rarer and more involved.
Where Pryme fits
Whichever form you choose, if the business buys from or sells to Nigeria, a Pryme Business Account holds NGN and EUR with local details for each, and invoicing lets you bill Nigerian clients from the same place. Outside Nigeria, Pryme's activities are carried out through regulated partners.
Questions people ask
Is it better to be autónomo or SL in Spain?
For a small first business, autónomo is usually simpler and cheaper. An SL suits higher profits, higher risk, partners or investors. Model both with a gestor once profit grows.
Does an SL director pay autónomo contributions?
Directors who control the company are usually registered in the self-employed scheme. Ask the Seguridad Social or a gestor how the rule applies to your shareholding.
Can I switch from autónomo to SL later?
Yes. Many founders start as autónomos and transfer the business to a new SL once it grows.
Is the tarifa plana available to SL directors?
Eligibility depends on the current rules for the reduced contribution. Check with the Seguridad Social before you rely on it.
Sources
- BOE: Ley 20/2007, del Estatuto del trabajo autónomo (consolidated text, last updated 2 Sep 2026) · accessed Oct 2026
- BOE: Real Decreto-ley 13/2022, new contribution system for self-employed workers · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.