"Life moves on whether we act as cowards or heroes.
If faced with an open mind, every moment is a golden one if you have the vision to recognise it as such"
(Henry Miller)
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E - BULLETIN #31 - DECEMBER 2009
COMPANY FORMATION MADE SIMPLER
Recent announcements by the Spanish government have given hope to long suffering accountants and lawyers, that new companies may soon be setup in much less time than until now.
The main features of these proposals are:
- SL companies (small companies with a minimum issued share capital of 3.000 Euros) will be formed via internet.
- The clearance of the proposed name by the central Companies registry cannot take more than one day.
- The time that the notary public has to formally setup the company is reduced to one day.
- The notary public has one day to send the formation documents to the Companies registry.
- Registration must be completed within 3 working days.
- Notary and registry fees will be limited to 250€.
- Stamp duty for companies with an issued share capital of up to 30.000€ will be abolished
ASEC Group
