Entrepreneurship: What types of commercial companies exist in Spain?

One of the most positive and representative signs of economic recovery in a country is the increase in the number of business start-ups. In this regard, in Spain, “since 2008 there has been an evolution followed by the business fabric, reaching a total of 3,236,582 companies in January 2016” according to the Report 'The Creation of Companies in Spain and its Impact on Employment' of the Economic and Social Council of Spain (CES). But, What type of company is best for you if you are going to start a business? What types of commercial companies currently exist in our country?Currently, there are 19 different forms of business in Spain:

1. Individual Entrepreneurs: Popularly known as “Freelancers”, their configuration requires only one partner. Individual or self-employed entrepreneurs are characterized by taking responsibility for their organization with all their assets.
2. Limited Liability Entrepreneurs: They require a single partner and do not require a legal minimum of capital to set up and the liability of the partners is limited.
3. Community of property: For its creation, it is necessary to have a minimum of two partners, although they do not require specific legal capital to start up the company. In relation to social responsibility, the partner is distinguished by being responsible for all their assets.
4. Civil Society: In this case, a minimum of two partners is also required and, at the same time, it does not require base capital to operate. This type of company is also characterized by the fact that the partner is responsible for all their assets. One of the differences that most helps to distinguish the Community of Property and civil society is that for the birth of civil society, the will of two or more people to join is necessary. On the other hand, for the birth of the Property Community, the birth is automatic when the ownership of a thing or right belongs to several people, regardless of their desire to join; although it is always advisable to sign a contract that regulates the community's regime.
5. Collective Partnership: Again, this is a type of company that needs a minimum of two partners to get up and running. Nor does it require a legal minimum of capital for its configuration and the partner is characterized by having responsibility for all their assets.
6. Limited Liability Company: These types of business organizations require a minimum of one partner and a capital of 3,000 euros to operate. As for the legal liability of the partners, this is limited to the capital contributed to that company.
7. Successive Formation Limited Company: To put this type of company into operation, a partner is required, without the need for a legal minimum of capital. In relation to the liability of the partners, this is also limited to the capital they have contributed to the company.
8. New Company Limited Company: The partners needed by this type of company range from one to five, and their capital must be between 3,000 and 120,000 euros. Each of the partners limits their liability to the capital contributed to the Company.
9. Limited Company: They arise from a single partner, who needs a minimum of 60,000 euros of capital and their responsibility is limited to the capital they have contributed to the organization.
10. Limited liability company: They are generated from partners, who must contribute a minimum of 60,000 euros, in addition to being responsible for all their assets.
11. Labor Limited Liability Company: To start the activity with this type of company, you need a minimum of two partners who must contribute 3,000 euros and maintain limited liability to the capital provided.
12. Labor Limited Company: This is an organization that emerges with a minimum of two partners who contribute at least 60,000 euros, respectively. Their liability is limited to the capital contributed to the company.
13. Cooperative Society: In the case of first-tier corporate corporations, a minimum of three cooperative members are required. In the second grade, two. The capital that the members must contribute is determined by the company's statutes and their liability is limited to the contribution of capital they make to the cooperative.
14. Cooperative Society for Associate Work: They need a minimum of three partners whose capital to contribute is limited by the statutes. The liability of the partners will be limited depending on the capital they decide to pay to the company.
15. Professional societies: They require a partner to start up, whose capital to contribute varies depending on the social form adopted by the organization. Liability in these cases is limited to the capital contributed to the company.
16. Agrarian Transformation Society: You need a minimum of three partners who do not have a legal minimum of capital to contribute. Each partner is responsible for all of their assets.
17. Mutual Guarantee Company: You need a minimum of 150 participating partners to make this type of partnership possible. Partners will have to contribute a minimum of 10 million euros and their liability is limited to the capital provided.
18. Venture Capital Entities: They arise from three members of the Board of Directors, whose capital to contribute ranges from 1.2 million euros in the case of venture capital companies to 1.65 million euros in venture capital funds.
19. Economic Interest Grouping: They require a minimum of two partners, whose capital to contribute is not specifically defined. In these cases, the partners are responsible for the company with all its assets.

Source: Economic and Social Council of Spain (CES)