Important and such interesting modification of the law for new startups in Spain law 18/2022 of 28th of September 2022 about creation of companies, published in Official Newsletter of the Spanish State on 29th of September 2022.

The main news is expressed in the second article (ART.2), first point (1) that modifies the minimum capital for creation of the limited society and instead of €3000 from now on it will be only €1.

Conditions to enjoy this facility are that until the society capital reaches to €3000, each year must be transferred to the legal reserve 20% of profit. In case of dissolution of the company, partners will settle the difference.

Intention of the new law is reducing the deadlines, alleviate bureaucracy and other difficulties that businessmen have nowadays during company creation.

All the notaries have obligation to accept online creation of the company using PAE and net of CIRCE.

Other important point is the limitation of responsibility of administrators to deal with the debt of the company, for example main residence with less value than €300000 can’t be never affected.

The law establishes that at the same moment of registration of the company, all the mentioned properties have to be registered in the mercantile register. This register will be sent to the property register.

In conclusion, the purpose of this law is improving the system for entrepreneurs.

Offering:

Creation of company with symbolic capital

Speed up the process improving telematics tools

Reduction of personal responsibility in case of bankruptcy.