Limited Liability Company
Steps required for the foundation of a Sociedad Limitada:
Request for confirmation of the desired company name
An indication of three possible names is required, since it is possible that the desired name is already assigned to another company. For this application we require a photocopy of your passport or identity card of one of the founding partners.
Once the name of the corporation is confirmed an account needs to be set up at a Spanish bank in the name of the founding corporation and the share capital to be paid. The bank will issue a certificate of the account opening, the payment of the share capital and the division of the founding shareholders. This original needs to be presented at the notarisation of the founding of corporation and will be attached as a photocopy to the memorandum.
The minimum capital for the foundation of a Spanish S.L. (Sociedad Limitada) is 3.000 EUROS. The company may be founded by a person who holds 100 % of the shares (one-person-Limited Liability Company.
For the preparation of the charter the following data and documents are required:
- Photocopies of the passports or identity cards of the founding shareholders
- Names of parents, marital status, occupation and home address of the shareholders
- Company address
- Business purpose
- Amount of paid-up capital and confirmation of bank deposit (see above)
- If more than one founding partner:
- Distribution of the initial capital to shareholders (%)
- Name of the director
- If more than one director:
- Indicate whether the directors should be independent or are only entitled to act together.