Civil Law

(Comunidad de Bienes)
Necessary steps for establishing a Comunidad de Bienes: 

Creating a Founding Treaty
This can be both, in private written form or in the form of a notarial deed of incorporation. This type of corporation must be founded by at least two people.

Minimum Capital and Capital Proof
are not required and will be set by the shareholders.

For the preparation of the charter the following data and documents are required:

• Photocopies of the passports or identity cards of the shareholders
• Names of parents, marital status, occupation and home address of the shareholders
• Company address
• Business purpose
• Amount of paid-up capital
• Distribution of the initial capital to shareholders (%)
• Name of the director – if more than one director:
• Indicate whether the directors should be independent or are only entitled to act together.

Further Details:

• The Comunidad de Bienes is a company with unlimited liability.
• Gains and losses will be divided amongst the shareholders according to their quota and will be declared in their personal income tax return.
• The tax return for VAT in each case is given by the corporation.