Incorporation is only the starting point
Choosing a corporate structure should not be driven solely by the immediate need to begin operating.
It is worth considering who will participate in the project, how decisions will be made, the role of each shareholder and how the business may evolve.
A well-considered structure should support the development of the project rather than restrict it as circumstances change.
The relationship between shareholders deserves early attention
Where several shareholders are involved, the allocation of share capital is only one aspect of their legal relationship.
Decision-making, the respective roles of those involved and the way potential disagreements are addressed can become increasingly important as the business develops.
Considering these matters at the outset can help create a structure that reflects the commercial reality of the project.
Company management is more than a formality
Deciding who will manage the company and how those powers will be exercised has both practical and legal consequences.
The management structure should reflect the operational needs of the business as well as the position of its shareholders and investors.
For international projects, it may also be necessary to consider how management will operate when some of the individuals involved are based outside Spain.
Investment and legal structure should be considered together
The incorporation of a Spanish company may form part of a broader investment project.
Where this is the case, the corporate structure should be considered within the wider context of the investment rather than as a standalone formality.
Future investors, transactions, significant contracts or acquisitions may all be affected by decisions made at the initial stage.
The legal relationship does not end with incorporation
As a company develops, new legal needs naturally arise.
Contracts, shareholder relationships, corporate decisions, commercial transactions and changes to the structure may all require legal input over time.
A sound initial structure should therefore be capable of supporting the business as it evolves.