Types of Companies in SpainUpdated on Friday 18th November 2016
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The legal structures which are available for foreign investors who want to open a company in Spain are similar with the ones set up throughout the European Union (EU). Spanish authorities provide legal options for those who want to start a small business, as well as for investors who are interested in registering a larger company. The registration process is similar for most of the companies, but in the case of a sole trader for example, the procedure differs, as it is much simpler to register this business form. Our team of lawyers in Spain can provide legal assistance for the registration of a company and can help businessmen in choosing a legal entity that will best represent their business objectives.
Legal entities in Spain
When choosing a legal entity in Spain, it is important to take into consideration the rights and obligations given to the investors under that respective structure, the share capital that must be deposited during the incorporation procedure, but also the number of shareholders or partners necessary to run the respective company. In this case, it is recommended to request the assistance of an attorney in Spain.
In Spain, investors can choose from the following legal structures:
• sole trader;
• limited liability company;
• public limited company;
• new enterprise limited company;
• limited partnership.
Out of all the legal entities mentioned above, most of the investors prefer to register a limited liability company, as it represents an autonomous structure and its investors can’t be held responsible for the company’s debts. Our team of attorneys in Spain can offer legal assistance for the drafting of the company’s statutory documents.
New enterprise limited company in Spain
The new enterprise limited company in Spain refers to a simplified form of the limited liability company, which has special requirements. For example, the incorporation of this type of structure requires a number of shareholders between one and five. However, the company has the possibility of receiving new shareholders, who must be natural persons.
Businessmen are invited to contact our law firm in Spain for more details related to the types of companies that are available in this country.