ILN: ESTABLISHING A BUSINESS ENTITY: AN INTERNATIONAL GUIDE

457

[ESTABLISHING A BUSINESS ENTITY IN SPAIN]

SA

SL

BRANCH

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.

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;

Filed with the Commercial Registry:

Filed with the Commercial Registry; and

Filed with the Commercial Registry; and

- Branch financial statements

- Foreign company financial statements

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:

- Their assets do not amount to over €2,850,000 . - Their net yearly turnover is not in excess of €5,700,000.

- Their assets do not amount to over €2,850,000 . - Their net yearly turnover is not in excess of €5,700,000.

- Their average number of

- Their average number of

ILN Corporate Group – Establishing a Business Entity Series

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