The shareholders in Spain are the natural persons or legal entities (depending on the company’s business form) who are founders of the company or who become associates in the company later on during its activity. A company can receive shareholders after its incorporation as well and their rights and obligations are usually given by the number of shares they own in the company. The legal rights of the Spanish shareholders are established by the company’s statutory documents, such as the articles of association and memorandum, which prescribe different provisions depending on the business form under which the company is incorporated. Our team of company formation specialists in Spain can assist foreign investors with more details on this subject.
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General rights for shareholders in Spain
The shareholders of a company in Spain have a wide set of rights, as prescribed by the commercial legislation applicable here. Thus, we mention the following:
- to obtain the company’s profit in respect with the shares they own;
- to share the company’s capital;
- to issue new shares, based on specific regulations;
- voting in the general meeting;
- participation in the general meeting;
- providing ideas for the company’s strategy.
Persons interested in company formation in Spain should know that a legal entity can have the following types of shareholders:
- minority shareholders;
- majority shareholders.
In this sense, we mention that each type of shareholders has different rights and obligations in respect to the company’s policies and profits. Our team of company formation representatives in Spain can offer legal advice on this matter.
Shareholders’ agreements in Spain
Another way through which the investors can establish other types of rights is by signing a shareholders’ agreement, which is a contract that further regulates the legal background of a shareholder in a Spanish company. However, it is important to know that there is no standard shareholders’ agreement and that it can vary depending on the legal entity of the company.
The document regulates matters such as:
- voting criteria;
- financing matters;
- commercial matters;
- company’s business plan;
- management control.
Our company formation consultants can provide more details on the legal aspects related to the shareholders of a Spanish company when opening a company in Spain. Please contact our agents for advice.