Sole Administrator - Spain
Definition
The sole administrator of a Spanish company (sociedad limitada/limited partnership, sociedad anonima/corporation or other legal entity) has full control of the company, all the responsibilities of the daily management of the company fall upon him. These responsibilities are:
- The fulfillment of all legal requirements of the company
- Ensure rigorous enforcement of agreements created after the meetings of shareholders
- The payment of dividends to the shareholders. All aspects of the company mentioned in the statutes
- Checking the money contributions of the shareholders
- To pursuit the legitimate growth of the company, rather their particular benefit
- Fiscal responsibility for the debts of the company
- Criminal responsibilities, if the sole administrator knows the existence of illegal acts by the company, and he/she doesn't report the authorities
In general, the position of sole administrator has no salary (wage) unless specified otherwise in statutes of the company.
Due to the large number of small and medium-sized companies (SMEs) in Spain, this is the most common appointment in this country. The sole administrators are under regulation by the law of capital companies, (1/2010).
Also named as:
ADM ÚNICO,
ADM. UNICO,
ADM. ÚNICO,
ADM.UNICO,
Adm Único,
Adm. Unico,
Adm. Único,
Adm. Único,
Admin. unico,
Admin.Unico,
Administrador Único,
Admtor.Unico
2,487,088 appointments of Sole Administrators registered in Spain
1,237,199 people appointed Sole Administrator in Spain