Srl stands for Società e Responsabilità Limitata and is the equivalent of a limited company in the UK or Ireland.
The main advantage associated with an srl is that it provides limited liability to shareholders, as opposed to partnerships where partners are typically fully liable liable without limit.
An srl tends to be a more flexible type of business, permitting more variations in how the company is structured. As a result of this greater flexibility, it is more complex than a partnership, particularly as it needs to keep ordinary accounts and company books such as shareholders meetings book, bod meetings book and shareholders book.
In order to set up an srl company in Italy you need to incorporate it through a public deed executed before a notary. The cost of the notary varies from notary to notary and depends on how much share capital the company has. The minimum capital is 10.000 Euros (there is a simplified type that only needs 1 Euro of capital to set-up but it is in general not a good option). As an example, the last srl that we incorporated with 10k capital cost about 3.000 for the notary.
Then there is the accountant’s fee to prepare the draft of the company bye-laws that can range from 1300 euros to 3500 depending on the type of activity and the needs of the owners setting-up the business.
There are also fixed annual costs:
Chamber of commerce annual fee of about 200 Euros
Company books annual tax 309 or 519 Euros depending on the capital of the company
Filing the balance sheet to the company registrar 130 Euros
Changes of directors, giving them proxies or making other changes, attracts a company registrar tax of around 160 euros.
Raffaele went out of his way to make sure I solved all my problems in the most cost-effective way possible. He also takes full responsibility for doing a great job and making sure the client is happy.
Aug 26, 2019
Bryan Wilson, Mallorca
Rosa has been an absolute Godsend and without her I would have struggled to set up my Mallorcan company.
She has always delivered with any project that I have instructed her services on and I would highly recommend her.
Apr 03, 2019
Andrea Omahony, Murcia
Inma was fabulous. She was extremely professional and she answered any questions efficiently and accurately.
Apr 01, 2019
My contact in Italy, Ilaria, was SO helpful and responsive. 100%recommend
Jan 04, 2019
Nick Nicolaou, Oviedo
Very Satisfied with Miguel's work. He was very helpful and we would definitely use his services again in the future.
Feb 20, 2018
Gavin Jones, UK
It was a real pleasure to have Miguel working on my behalf to file my non-resident taxes. He was extremely helpful, gave reassuring advice and I had a high level of confidence in the transactions.
Miguel is now acting as my fiscal representative in Spain and I plan to continue to use his firm's services for all my tax requirements.
Feb 19, 2018
Alan Villarreal, Banyoles
Very satisfied with Anna's work. She is bilingual and was extremely helpful. Will definitely use her services in the future.
Dec 15, 2017
Anthony Bennett, Barcelona
Anna provided the best possible solution for me in my situation, and helped out as much as she possibly could.
I would recommend her services to anybody seeking legal or financial advice.
Oct 19, 2017
Robert Toth, Ireland
Anna was very, very helpful, always happy to assist and also approachable and professional.
I was very satisfied with the legal services.
Feb 09, 2017
We used Rossana’s services multiple times after the first contact. She is always there when we need support, even for things that are not directly related with the services she was in charge of.
Her charges are always very reasonable.
Dec 06, 2016
All tax returns are handled online, so I don't need to go anywhere to accomplish my tax obligations in Spain. Although the service is provided mainly by internet, Jaime met me when necessary, and I can always contact quickly him or his team by phone, email, skype and even whatsapp.
Jaime and his team have been really helpful during the setting-up process of my business.
Jan 15, 2015
Since I am a foreigner, I can’t speak Spainish. My law firm provided me two lawyers – one speaks English very well and the other one is the expert in my case.
They answered me very quickly, and handle my case in a very efficient way. Cannot find a better lawyer in Tarragona.
Every year we help thousands of individuals save money on their foreign currency payments for property purchase, emigration, overseas mortgage repayments, etc.
If you make or receive payments in a foreign currency, we could save you a great deal of money and make your currency transfers simple.
We guarantee much better exchange rates than the ‘tourist rates’ you would normally get from your bank and can save you up to 6% on currency transfers typically saving you £5,000 on a £100,000 transfer.
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Your account manager will keep you informed on currency market movements and get the best exchange rate for you at the time. Once agreed, this rate is then guaranteed for you.
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Benefits at a Glance
Highly competitive exchange rates
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Dedicated Relationship manager
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Authorised by the Financial Conduct Authority
Segregated Barclays Bank Client Accounts
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G7 summit saw Boris Johnson more optimistic about a potential agreement with the EU.
The Pound railed after Jeremy Corbyn’s talks with opposition about legislation to prevent a no-deal Brexit and an extension of the current deadline.
The Queen gave the green light to Boris Johnson for Parliament suspension, causing Sterling’s gains to be reversed.
Parliament suspension saw Sterling jump to its highest level since December 2018.
Trade tensions continue to escalate between the US and China. Both nations want to raise tariffs against each other which saw the dollar fall.
The Dollar recovered later during the week when both parties spoke about the ongoing trade situation hoping for more favourable conditions.
On Friday, Trump confirmed that a meeting on trade between the US and China is still scheduled for September.
Week Ahead GBP:
Inflation report hearings
MPs return to parliament and are looking to put forward a legislation to prevent a no-deal Brexit
Average hourly earnings m/m
Non-farm employment change
FED Chair Powell Speaks
Juncker Open To Removing Backstop
20 Sep 2019
The GBP was the best performing currency yesterday as comments from European Commission president, Jean-Claude Juncker, suggest a notable shift in the EU position on Brexit.
Juncker struck an optimistic tone, stating that he was doing "everything to get a deal" and that he did not have "an erotic relation" to the Northern Ireland backstop. Juncker went a step further by stating that he was prepared to remove the backstop from the Withdrawal Agreement so long as the "alternative arrangements meet the main objectives of the backstop."
The Bank of England said Brexit uncertainty and slower world economic growth were increasingly causing Britain’s economy to perform below its potential, and that a failure to reach a deal to leave the European Union by October 31st would worsen the problem.
All nine members of the BoE’s Monetary Policy Committee voted to keep rates on hold at 0.75% and reiterated their warnings that a no-deal Brexit risked hitting Sterling and damaging growth.
Policy minutes, for the first time, gave an explicit warning about the impact of a further Brexit delay, saying “entrenched uncertainty” about the terms on which Britain would leave the EU would also cause harm, albeit on a smaller scale.
Prime Minister, Boris Johnson, has vowed to take Britain out of the EU by October 31st, without a transition deal if necessary. However, Parliament has ordered him to delay departure if he cannot broker a fresh agreement with the EU that Parliament also backs.
Almost no economists expect the BoE to raise interest rates unless Britain leaves the EU in an orderly way. However, unlike the U.S. Federal Reserve and the European Central Bank, the BoE says it wants to raise rates gradually over the medium term, as long as a no-deal Brexit shock to the economy is avoided and global growth perks up a bit.
In the event of a no-deal Brexit, policymakers repeated their view that all policy options would be open, depending on the damage to growth and how much inflation spikes from a likely fall in Sterling. BoE Governor, Mark Carney, who is due to step down on January 31st has said his personal view is that the BoE is more likely to need to cut rates after a no-deal Brexit.
US Cut Interest Rates Again
19 Sep 2019
The US Central Bank has cut interest rates for only the second time since 2008, due to concerns over slowing global growth and trade tensions. As expected, the Federal Reserve lowered the target range for its key interest rate by 25 basis points to between 1.75% and 2%. The bank said the cut is aimed at shoring up the US economy, amid "uncertainties" about future growth.
President Trump reacted by attacking Fed Chairman, Jerome Powell, for lacking "guts." Mr Trump has repeatedly criticised the Fed for cutting rates too slowly.
Boris Johnson has been set a two week deadline to outline his Brexit plans to the EU, according to Finland’s Prime Minster. The Finnish Prime Minster, Antti Rinne, said that he and the French President, Emmanuel Macron, agreed that the UK needed to produce the proposals in writing by the end of September. He said that if this is not achieved, "then it's over."
A spokesman for Downing Street told reports that the UK will continue to negotiate and put forward proposals at the appropriate time. Mr Johnson has said that a deal is possible at a crucial summit of EU leaders on 17th October, but he has insisted Brexit will happen by the 31st October deadline, even if a deal is not agreed. Lastly, the UK government have said that talks with the EU have made progress since Johnson took over from May, but Johnson has since refused to give anything away.
09:30 - GBP: Retail sales m/m - Forecast at -0.2% from previous 0.2%. 12:30 - GBP: MPC Official bank rate votes - Unchanged at 0-0-9. 12:30 - GBP: Monetary Policy summary. 12:30 - GBP: Offical bank rate - Unchanged at 0.75%.
ECB cut its deposit rate to a record low of -0.5%.
Restart of bond purchasing programme of 20 billion Euros in November.
Interest rate remained unchanged at zero.
Week Ahead GBP:
Bank of England minutes.
Bank of England interest rate decision - expected to remain at 0.75%.
German ZEW Survey,Economic Sentiment - expected to increase to -38.0 from 44.1.
FOMC Monetary Policy Statement.
Fed interest rate decision - expected to fall to 2% from 2.25%.
Boris Vows To Leave On October 31st
18 Sep 2019
The Pound retreated from six-week highs against the Dollar on Tuesday as Prime Minister, Boris Johnson, stuck to his pledge to take Britain out of the European Union by October 31st, vowing not to seek an extension to the deadline. The PM is required by a law passed this month to ask the EU for a three-month delay to Brexit if a deal is not approved by October 19th, but British media reports say his team are looking at ways to circumvent it. With less than seven weeks until the Brexit deadline, Johnson is hoping a Brexit deal can be clinched at an EU summit on October 17-18th.
Sterling is also being buffeted by the volatile Dollar, which rose late on Monday as oil prices eased and trade tensions with Japan appeared to cool. The greenback inched to a five-day high against a basket of currencies ahead of the U.S. Federal Reserve’s policy meeting this week.
09:30 – GBP: Consumer Pricing Index expected to fall to 1.8%. 19:00 – USD: FOMC Economic Projections. 19:00 – USD: FOMC Statement. 19:00 – USD: Federal Funds Rate expected to be cut to 2.00%. 19:30 – USD: FOMC Press Conference.
Documents that originate from outside of Spain will need to be translated into Spanish for many different legal and administrative processes before they can be used by local authorities here.
For formal processes, you will need a Sworn or Official Translator in Spain to translate and affix their stamp to the document. An Official Translator is approved by the Spanish Ministry of Justice as having the skill to carry-out this process for any legal proceedings as well as any other process that requires a Sworn Translator.
Examples of documents you are likely to need to get translated include, but are not limited to:
Criminal Background Checks
Deed Poll Name Change
Company documents (e.g. Articles of Association)
Lasting Powers of Attorney
Processes that May Require Translation of Documents
The list is in fact potentially endless and will depend on the particular process that you need to complete in Spain. Below you will find a list of processes and the documents you may need to have translated into Spanish.
For inheritance proceedings it can often be necessary to arrange for translation of an official death certificate if death occurred outside of Spain, unless an International Death Certificate has been issued. Also, if only a non-Spanish Will is in existence, this may well need to be translated also.
If a couple were married in the UK or other non-Spanish speaking jurisdiction, and they have children born there, it will be necessary to have the marriage certificate as well as the birth certificates of any children born outside Spain translated. Furthermore, any other documentation relating to assets abroad may need to be translated.
If a mortgage is required in Spain, it may well be necessary to justify your income, and should you be self-employed/business owner, then it may be necessary to have previous year's financial accounts translated to Spanish so that the bank may approve an application.
Health insurance covering the duration of your stay in Spain is necessary. The terms and conditions of such insurance are may need to be translated. Also, any economic means (pensions or any other income) by which you might prove that you can afford to stay in the country, will need to be translated.
Enforcement of a foreign Court Order or Judgment
Depending on the nature of the Court Order or Judgment that you have obtained in a foreign country, in order to have it enforced in Spain you may be required to follow the legal proceedings of 'Exequatur' which will require you to produce a translation of the original Court decision, carried-out by a Sworn or Official translator.
Languages We Deal With
Our team of official translators are able to deal with many languages, though most popular would be English, German, French, Dutch and Russian.
Translations of documents will be returned the next working day, as long as the documents are sent before 2pm.
Arrange a call-back from a specialist translator today:
New rules from the European Union - Regulation (EU) Nº 650/2012 of the European Parliament and of the council of 4th July 2012 - stipulate that, in the absence of an express indication in the form of a valid Will, the rules that apply to a deceased’s estate are the rules of the country in which they were habitually resident. For many this could mean being forced to apply strict rules of inheritance that exist foreign countries unless a Will is drafted in a suitable format.
Who is this Service for?
For anyone who wishes to control the manner in which their estate is distributed under their own laws rather than the laws of the State where their assets are located.
What does this service consist of?
Our experienced English-speaking lawyers will discuss with you all aspects of how you wish to dispose of your estate, ensuring:
The Will is drafted in both English and local language to ensure conformity with clients’ intentions
The Will is drawn-up in the office of a conveniently located public notary.
Assistance at the signing of the
Will Receive an official copy of the Last Will and Testament
Arrange a call-back from a locally registered English-speaking probate lawyer:
I'm very happy with the services received: I started with José in Alicante on various subjects whom than handed me over to Miguel for another case because he said Miguel was much more experienced in the field I needed assistance, I can appreciate professionals knowing their business.
In the beginning when I started emailing with your good selves I experienced difficulties receiving mails from advocate abroad, it was a server issue from advocate abroad, I repeatedly asked Miguel and José about it but they could not find anything wrong. At this moment I no longer experience these problems.
Isabel Albert, Valencia (Sep 17, 2019)
Inmaculada has always responded to all my queries and explained and provided excellent solutions. She is very approachable, diligent and professional.
Francisca is a first-class Professional ' puts u at ease.
100% up to date and reliable. I would not consider using anyone else.
Marcus Bond, Fuengirola (Feb 14, 2019)
Proactive, great communication, thoroughly recommend.
Why consider a Funeral Plan?
By planning in advance, you will help to remove the emotional burden and some of the financial worry from your next of kin at a time in their lives when they are least able to cope.
Planning for your funeral now means you can fix the complete cost of your Cremation funeral in advance (FD Professional fees, Cremation fees and Ministers fees are guaranteed), no matter how far in the future death occurs. If burial is your funeral choice, your plan will guarantee the cost of the funeral director and pay a contribution towards the cost of cemetery and burial fees.
Repatriation of your body to any country from the UK if you require your Funeral to be conducted elsewhere in the world. Repatriation can be a part of your funeral planning agreed in advance.
A Personal Service
In addition we can help you personalise your funeral to give you the send-off you’d like. To create a bespoke funeral choose either our Platinum or Gold plans and then call our team who will be happy to help with advice on any additions you’d like.
Our team will do their best to accommodate any additions that you require and will be able to advise on additional costs. Also whether your requests can be added now as part of the payment plan or whether it’s a request to add to your file, which has to be paid for when the time comes.
Our team is used to a variety of requests but we are typically asked to provide additions such as:
Horse and Carriage (replaces the hearse)
Extra limos or extra hearse to carry flowers
Alternative service location
Arrange a call-back from a locally registered English-speaking probate lawyer: