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THE BOUTIQUE THE WEATHER INTERACTIVE CAMPSA GUIDE
Companies to suit all tastes
by Antonio de Lorenzo
Spanish entrepreneurs can carry out their business in a number of different ways and each one has its own rules and characteristics. Depending on the legal framework that the company adopts, they must comply with a series of requirements, both specific and general. The list of possibilities includes the following models: stakeholders' society, cooperative society, limited company, limited liability company, limited partnership and workers' cooperative.

- The stakeholders' society is established when several people share the ownership of a company or a property or a law. This can be regulated through a simple private contract or statutes that follow the indications laid out in the Civil Code. Broadly speaking the stakeholders' society is founded on a document or contract that sets out that the participants agree to share their assets, so that any gain or loss is shared between them. It is only necessary to take the said contract to a notary or registrar if property is involved. If not, a simple private contract is sufficient. The big difference between a stakeholders' society and other companies is that its members lack independent legal representation, something which does not occur in other companies.

- The cooperative society. This is a company where all members are represented in an unlimited and cooperative manner, with their own assets, before the law and the company's obligations.

- Limited company. It is the most common model for small Spanish companies. To form this type of legal entity a minimum outlay of 3,012 euros is necessary, which is shared between all the partners. If economic or financial problems occur, the partners are only responsible for the company's debts up to the amount paid out when forming the company.

- The limited liability company. The minimum outlay of a limited liability company is 60,240 euros, of which a quarter must be paid out when forming the company. As in the case of the limited company, the capital is distributed in shares, and the partners do not need to invest their own assets into paying off the company's debts.

- Limited partnership. This is a hybrid of a limited company and a cooperative society, in that the responsibility is unlimited for some partners and limited for others.

- Workers' company. This type of company can be limited or limited liability, in that the majority of the capital is shared between the workers themselves. To form a workers' company, the entity must be registered in the corresponding organisation, be it the Ministry of Employment and Social Security or the Autonomous Communities that have taken over that institution. The difference between a limited and a limited liability workers' company is the amount that needs to be paid out to form it.

- Workers' cooperative. To create a cooperative at least three partners who are formally committed to carrying out a certain commercial activity are needed. That commitment must be formally declared before a public officer and included in the Register of Cooperative Companies. The partners of a workers' cooperative receive salaries, like any other salaried worker, as well as monthly advance payments that go straight into the cooperative's surplus or profit. This type of company permits the hiring of other workers who are not partners, as long as they do not exceed 30% of total working hours.
 
 
 
 

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