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[ESTABLISHING A BUSINESS ENTITY IN SPAIN]
SA
SL
BRANCH
global assignment of assets and liabilities. - Dissolving the company. - Approval of the final liquidation balance sheet. - Any other matters stipulated by the law or the by-laws.
global assignment of assets and liabilities. - Dissolving the company. - Approval of the final liquidation balance sheet. - Any other matters stipulated by the law or the by-laws.
Managing body
Types: the management of the company may be entrusted to:
Types: the management of the company may be entrusted to:
Representative resident in Spain, who acts as attorney of the branch in the name and on behalf of the parent company for all purposes, particularly tax purposes. The attorneys in fact of the branch are appointed by the parent company.
- a sole director, - several directors who may act jointly or jointly and severally; or - a Board of Directors.
- a sole director, - several directors who may act jointly or jointly and severally; or - a Board of Directors. Members of the Board of Directors in this case are limited to 12.
Term of the post: cannot be longer than 6 years, but directors can be re- elected one or more times for terms of the same duration.
Term of the post: will be unlimited, unless otherwise foreseen in the by- laws of the company.
Term of the power of attorney: the parent company usually grants the power of attorney without a limit of time that can be cancelled at any time by the parent company.
REPORTING REQUIREMENTS
ILN Corporate Group – Establishing a Business Entity Series
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