Spain S.L.

S.L. is a type of limited liability company in Spain, with the full name Sociedad de Responsabilidad Limitada. It is a legal entity with combined ownership, requiring at least one shareholder and at least one director. In principle, it is not necessary for a local resident to act as a director to register the company, but if the company needs to operate in practice such as hiring employees, a local resident must be appointed as a director. S.L. needs to designate a legal representative and does not require a company secretary. The legal minimum registered capital starts at 1 euro (in practice, from 3,000 euros) and requires capital verification.