Types of Comapnies: Sociedad Anónima (S.A)

Anglo-Spanish Chartered Accountants

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Types of Companies in Spain

Sociedad Anónima (S.A.)

The company name must be different from any other company (certified by the Central Mercantile Registry).

Them minimum number of shareholders is one. When the company only has one shareholder it is described as a Sociedad Anónima Unipersonal (S.A.U.).

The minimum share capital required to incorporate a “sociedad anónima” amounts to €60,101.21. The share capital must be fully subscribed and at least 25% paid out in cash or property. The capital is divided into shares.

This type of company has its own legal status as an entity separate from its shareholders.

The shareholders enjoy limited liability, thus their personal exposure is limited to the shareholder’s funds. It must be noted, however, that directors can be liable with their personal wealth should they trade unlawfully.

The profits of the “sociedad anónima” are taxable via corporation tax.

In summary, the main advantages of this legal form are as follows:

  • Limited liability.
  • Individuals may be shareholders.
  • Shareholders may be transferred.
  • Shares may be freely transferred.

The main disadvantage of this legal form is that incorporation and compliance is more complex. Therefore it is only recommended for high volume companies.

 
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