deposit annual accounts spain

Spain applies new sanctions for failure to deposit annual accounts

Spanish capital companies must submit their annual accounts to the General Meeting for approval and file them before the Commercial Registry. The entry into force of RD 2/2021 on 1/2/2021 opens the door to apply the sanction regime for failure to do so in due time.

The Deposit of Annual Accounts in Spain

The Law of Capital Companies in Spain establishes that administrators are responsible for depositing the annual accounts. Failing to do this may result in the imposition of sanctions on the company and the closing of its registry, which would prevent registration of the company’s acts and documents.

The filing of annual accounts of branches of foreign companies in Spain

One of the most problematic issues facing Spanish branches of foreign companies is the filing of accounts. In Spain, the Mercantile Registry Regulations provide for the possibility of filing the accounts of the company itself, when there is the so-called ‘equivalence control’ in both countries, or by submitting ad-hoc accounts in relation to the activity of the branch in Spain.