Closure of a Company in Spain

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Very helpful and friendly service. Would recommend them to anyone needing assistance.

SaraM
12 Jul 2024

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Service Details

Closure of a Company

This service is available across Spain

Who Is This Service For?

Whether by chance or design, it can become necessary to formally close a limited company in Spain.
This is often a critically important step in order to limit tax and accounting obligations to the date of closure and as a company owner and director, you will avoid continuing liability for failure to submit required reporting and tax returns to the Spanish national Tax Agency.
The service is particularly relevant to directors and shareholders of limited companies in Spain who want to ensure that all financial and legal obligations are settled to avoid any future liabilities.

Prerequisites

The company must be in good standing with no outstanding debts that cannot be covered by the company's assets.
All shareholders must agree to the dissolution, or it must be mandated by other specific conditions as outlined in the company's by-laws.

Procedure: Our Approach

Convene a General Shareholders' Meeting: Where necessary, an extraordinary meeting to agree on the dissolution. If a sole director company, this is simply a procedural formality.
Notarisation and Registration: The dissolution agreement must be notarised and registered in the Mercantile Registry.
Settlement of Debts and Liquidation: Assets are liquidated, debts are paid off, and any remaining assets are distributed among shareholders.
Final Tax and Social Security Declarations: All tax obligations must be settled, including the filing of final tax returns, and notifications to social security and other government bodies must be completed.
De-Registration of the business: The company must be deregistered from all government registries and official bodies to formally end its existence.

Benefits of this Service

Compliance Assurance: Ensures all legal and fiscal responsibilities are managed correctly.
Financial Clarity: Proper liquidation provides clear accounting and distribution of assets.
Risk Mitigation: Reduces potential future liabilities for directors and shareholders.

Key Features of this Service

Comprehensive support through the dissolution and liquidation process.
Drafting all the necessary documents for closing the company and providing instructions for their execution
Coordination of the processes to be undertaken by the directors/shareholders to ensure compliance with the legal process for closure of a company
Expert advice on legal and tax implications.
Assistance with all necessary documentation and filings.

Free Support Services Included

When combined with the free and innovative Advocate Abroad support services you can be sure that you are obtaining completely transparent legal services from registered and regulated English-speaking lawyers abroad.These support services include: