Features:

This is a special type of limited liability company, intended to encourage new small and medium-sized enterprises by making it easier for them to both set up and do business.

The company name will include the first name and two last names (Spanish surnames include the family names of both parents) of one of the founding shareholders followed by an alphanumeric code and the words "New Business Limited Company" or the abbreviation "S.L.N.E." The capital stock may not be less than €3,000 or more than €120,000, and it can only be paid in cash. The corporate purpose is general in nature, in order to enable it to do business with greater flexibility. The shareholders of an S.L.N.E can only be individuals and there can be no more than five at the time of formation. Lastly, the members of the managing body must be shareholders.

Cost:

Similar to an S.A.

For more information, visit www.circe.es

For further information, visit the extended version of our online Guide to Business:

Establishing a business in Spain

Appendix I. Company and commercial law

Appendix II. The Spanish financial system

Appendix III. Accounting and audit issues

Last updated: 09|03|2012