Definition

Private or public limited company in which more than 50% of the corporate capital is the property of the employees. No partner may have more than a third except worker-owned companies held by the state, autonomous communities, local institutions or public companies.
The corporate name should include the expression "Sociedad de Responsabilidad Limitada Laboral¿ or "Sociedad Anónima Laboral", or its abbreviation "S.L.L.". or "S.A.L.".
The minimum number of partners is three. No partner may have more than one third of the corporate capital and two of them must be employees. The responsibility of partners is limited to the contributions.
For the acquisition of legal personality a public deed, registration in the mercantile register and administrative register of worker-owned companies, census declaration and obtaining a tax identification number is required.
Capital cannot be less than 3.005,00 ¤, if it is a worker-owned private limited company. In the case of a worker-owned public limited company this can-not be less than 60,101.00 ¤.

Source

Surveys Mercantile Companies and Bankruptcy Proceedings

Topic

• Enterprises

Statistical operations

(links to the Inventory of Statistical Operations)

• 30151 - Mercantile Companies

Concepts associated

• Cooperative company
• Group company
• Incorporated Partnership
• Limited partnership
• Private limited company
• Public limited company
• Reciprocal guarantee company
• Securities fund
• Simple Limited Partnership
• Workforce Owned Public Limited Company