The Corporation (S.A.) is a form of capitalist business organization. This means that all its capital is divided into shares.
Shares represent each partner’s participation in the company’s capital and each partner’s responsibility is proportional to the capital they have in their shares.
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The Corporation, unlike a personal company, can act as a legal person because it is a capitalist company.
The constitution of an S.A. is done through a public deed and in Spain requires a minimum share capital of €60,101.21, according to the Corporations Law.
An S.A. must have 3 mandatory bodies:
- The General Shareholders’ Meeting where all shareholders meet. It is responsible for electing the company’s administrators.
- The company administrators are the managers who form the executive and representative body of the company.
- The third body, which does not exist in some countries, is the supervisory board whose task is to supervise the administrators.
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We hope this information is very useful to you.