What type of commercial companies are the most common?Sociedad anónima (SA) , Sociedad limitada (SL)
Sociedad Anónima (SA)
The minimum constitution capital is € 60,000. It is normally the option chosen by large companies, whose capital can be distributed among all its shareholders or in a single person in the case of wanting to opt for a Unipersonal Limited Company (SAU).
Limited company (SL)
Requires a minimum initial capital of € 3,000, which can be distributed among several partners or in one person if you opt for a Limited Liability Company (SLU).
Upon registration in the Companies Registry, both SA and SL have their own legal personality.
Every Andorran society is obliged to have a registered office in the country.
What is the process for creating a mercantile company?
Currently, in one or two / three months it is possible to have the company in operation.
- Request the reservation of corporate name in Government. This certification has an expiration of 6 months from its issuance and during its validity confers a reservation of name in favor of the future grantors of the deed.
- Request authorization of foreign investment in Government, for foreign investments with a participation superior to 10% of the capital stock.
- Request the opening of a bank account in one of the country’s financial entities.
- Raise the public deed to the public before an Andorran notary for the constitution of the company.
- Register the company in the Andorran Mercantile Registry (or in the Commerce and Industry Registry if the company carries out a commercial, industrial or service activity). This registration is mandatory and is the one that will give the company legal personality.
- Request the opening of the store (for which it will be necessary to have the local electrical bulletin and a current extinguisher contract)