Company Management in Spain

A presentation brought to you by our law firm in Spain

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Doing Business in Spain

Companies in Spain rely on good company management for obtaining success on a long term.

Company hierarchy is common in Spain and the individuals who have the greatest influence in the company are the company managers and directors.

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Foreign Companies in Spain

Foreign investments are allowed and encouraged in Spain. Many international companies have opened branches or subsidiaries here and run their operations in large Spanish cities.

There are no restrictions on nationality for company managers or directors in Spain and international companies may choose to bring foreign employees to act as their company directors in Spain.

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Company Management in Spain

Company management in Spain relies on a managing body composed of one or more individuals, depending on the size of the company.

The company board has unlimited membership for public limited companies. Private limited companies have a limited number of directors.

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Types of Companies in Spain

The number of company directors and shareholders depends on the size and the type of company.

Private limited liability companies have fewer requirements for their management body. The board of directors for this type of company should have at least three members.

The number of board members for a public limited company should be at least five.

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Shareholders in Spain

Spanish shareholders are entitled to a series of rights, among which:

a part of the benefits and part of the liquidation quota,

rights to new shares, attend and vote in the General Shareholder’s

Meeting, be informed about the development of the

company, oppose corporate decisions, if necessary.

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Company Directors in Spain

Company directors in Spain can be legal persons or other companies and they are not required to own shares in the company in order to occupy this position.

The duties of a Spanish company director include loyalty towards the company, observance of the Spanish Company Law and the by-laws of the company and observing the best interests of the corporation above his personal interests.

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The Company Managing Body in Spain

The company’s managing body can consist of one, two or more individuals or a board of directors.

Company directors are appointed during the General Shareholder’s Meeting and their mandate cannot exceed six years for public limited companies and four for listed companies. Directors of limited liability companies do not have a limited appointment term.

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Eligibility Criteria for Company Managers in Spain

Company directors do not need to be Spanish nationals, but they must have a Spanish Tax Identification Number if they are foreign.

Bankrupt individuals as well as high public officers cannot become company directors in Spain.

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Legal Assistance for Corporate Management in Spain

Companies in Spain, especially foreign entities, may ask for assistance for compliance with various company management issues.

The experts at our law firm in Spain can help you with corporate compliance and management in any Spanish city including Madrid, Barcelona or Valencia.

Thank you for your attention!

For more information please contact us at: (+44)203-287 0408 (for international clients)office@lawyerspain.eu http://www.lawyersspain.eu/

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