438
[ESTABLISHING A BUSINESS ENTITY IN SPAIN]
SA
SL
BRANCH
Annual accounts and reports
Company must keep proper accounting records to show transactions and current financial position of the company.
Company must keep proper accounting records to show transactions and current financial position of the company.
Non-residents who operate in Spain through a permanent establishment (Branch) are generally required to keep accounting records in Spain, in accordance with the rules and procedures established for Spanish companies.
Financial statements shall be:
Financial statements shall be:
Foreign company’s financial statements:
Drafted clearly and present a true and fair view of the company’s net worth, financial position and net income;
Drafted clearly and present a true and fair view of the company’s net worth, financial position and net income;
Drafted according to its local law. If it is not required to prepare, have audited and publicly disclose accounts according to local law or it is obliged in non-equivalent manner to the Spanish legal provision, it is still required to file accounts concerning branch activity in Spain as if it was subject to Spanish Law.
Filed with the Commercial Registry; and
Filed with the Commercial Registry; and
Filed with the Commercial Registry:
- Branch financial statements - Foreign company
Audited, except when two of the following requirements are met on the closing date of two consecutive tax years:
Audited, except when two of the following requirements are met on the closing date of two consecutive tax years:
financial
statements
ILN Corporate Group – Establishing a Business Entity Series
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