Public Limited Company in Spain
A Public Limited Company (Sociedad Anónima – S.A.) is a group of persons or entities formed for the aim of achieving a shared goal. A public limited company must have a minimum capital of €60,000, of which at least 25% must be paid up when registering. The partners’ liability for potential debts is restricted to the capital supplied.
Our staff assists firms and individuals in informing businesses in Spain. If you have any queries, please contact our team of experts, who will be pleased to assist you with the process of forming a company in Spain.
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Public Limited Company registration conditions
The Public Limited Company is formed through a public deed that must be filed with the Mercantile Registry. The Public Limited Firm’s Deed of Incorporation and its Statutes must both provide the bare minimum of information regarding the company to be formed (such as the name of the company, its purpose, and activities, a designation for the administrative body, and so on).
Timeline
The procedure may take up to 15 days.
Fees
It can cost around EUR3000 to incorporate PLC in Spain. Contact us to request our registration fee.
Compulsory regulation
The Public Limited Company is formed through a public deed that must be filed with the Mercantile Registry. The Public Limited Firm’s Deed of Incorporation and its Statutes must both provide the bare minimum of information regarding the company to be formed.
In addition, the Public Limited Company, like the Limited Liability Company in Spain, can be formed by a single partner (S.A.U.)
Auditing of accounts is not required in all Public Limited Companies; it is dependent on certain accounting magnitudes (assets/liabilities/employees), so it is essential to get the advice of a tax and accounting professional when launching a business in Spain.
Documents
For company registration in Spain, the following documents and details are required:
- Deed of Incorporation,
- Bye-Laws of the Company,
- Articles of Association and Memorandum of Association of the Company,
- Details about the company’s shareholders and directors,
- The organizational structure of the company.
We assist you in preparing these documents.
Consultation about Public Limited Company registration
Our registration services include consultancy, document preparation, analysis of legal requirements and establishment of effective business frameworks.
These are the services that make us unique, and also get our clients glued to us.
Accountancy
Financial statements must be prepared in line with the International Financial Reporting Standards (IFRS). The General Accounting Plan governs accounting in Spain (in full compliance with IFRS).
The submission of annual financial statements to regulatory bodies is required. A company’s directors have three months from the end of the fiscal year to produce the accounts.
Taxes
The national (central), regional, and local governments all levy taxes in Spain. In 2013, income tax in Spain accounted for 36.3 percent of GDP. Income tax, social security contributions, corporate tax, and value-added tax are among the many taxes levied on various sources; some are applied at the national level, while others are implemented on a national and regional scale.
Bank account
When opening a bank account in Spain, entrepreneurs must present not only their identification documents but also the company’s statutory documents, which differ depending on the business form chosen for creation (limited liability companies are incorporated based on the articles of association, while partnerships are set up based on a partnership agreement).
Other legal forms in Spain
Other types of legal business structures that can be registered in Spain are:
- Sole Trader/Sole Proprietor (Empresario Individual or Autónomo),
- Partnership (Sociedad Civil),
- Limited Liability Company (Sociedad Limitada/SL or Sociedad de Responsabilidad Limitada/SRL),
- Public Limited Company (Sociedad Anonima /SA),
- New Enterprise Limited Company (Sociedad Limitada Nueva Empresa/SLNE),
- Co-ownership (Comunidad de Bienes/CB).
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