Legal Framework for Limited Liability Companies
Classified in Law & Jurisprudence
Written on in
English with a size of 4.04 KB
Characteristics of a Limited Liability Company (SL)
A Limited Liability Company (SL) is a commercial trade entity where the capital is divided into social parts. One of its primary features is that partners do not respond personally to social debts. It is characterized by its closed nature, meaning shares cannot be freely transmitted to outsiders without specific conditions.
Capital and Incorporation Requirements
The rules for an SL are more flexible than those for a Public Limited Company (SA). The minimum capital required is €3,012, which must be fully paid upon constitution. The company is unlisted and cannot be traded on the stock exchange.
Requirements for Constitution:
- Incorporation must be done through a public deed or in writing.
- The identity