In a private limited company (sociedad limitada), one or more people gather according to commercial law and become partners to conduct an economic activity to obtain profits.
A private limited company’s main characteristics are:
They have their own legal personality, different from the shareholders who hold the company.
The company is liable for its debts and obligations with the company’s equity, not the shareholders’.
The company is distinguished by its corporate name (official company name).
It must be registered with pertinent registers by means of a public deed.
The company pays tax through the Corporate Tax
Resolutions are reached by majority. These majorities are formed based on the greater or lesser contribution made by each shareholder.
Consider
Taxation with fixed contribution rate.
Limited liability.
Complete accounting
Possibility of establishing a Partnership Agreement. The Partnership Agreement is a private document that the partners of any company can sign to regulate certain situations which, due to their characteristics, are not set forth in the company bylaws. The objective is to avoid conflicts and anticipate possible problems and frictions that may arise between partners and/or third parties, and this is why it is so important to properly specify which terms and conditions are set forth in said agreement.
With family-owned companies, it is also interesting to consider Succession Agreements regarding inheritance of a partner’s holdings to prevent high capital fragmentation, which can lead to issues in day-to-day management.
Agro-Food and Fisheries Sector Observatory
All the latest news from the Basque Agrifood and Fishing Sector.
Fill in the form to send us your project and an expert will contact you.
KEEP ME UPDATED
INFORMATION RELATED TO THE PROCESSING OF YOUR PERSONAL DATA
Controller:
The HAZI FOUNDATION processed personal data on behalf of the Basque Government..
Purpose:
Management of the actions arising from the ONEKIN programme..
Additional information and rights:
You can exercise the rights related to the processing of y our data and obtain further information about this processing on our website’s
privacy policy.
.
Manage Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.