Spain
Financial Reporting Obligations for Companies in Spain
1. Registry for Financial Statements Submission
In Spain, companies must submit their financial statements to the Registro Mercantil (Commercial Registry) (https://sede.registradores.org). The registry network is overseen by the Colegio de Registradores de la Propiedad y Mercantiles de España (Registradores) (https://www.registradores.org).
2. Legal Forms Required to Publish Financial Statements
The following legal forms in Spain are required to submit and publish their financial statements:
- Sociedad Anónima (S.A. – Joint-stock company)
- Sociedad de Responsabilidad Limitada (S.R.L. / S.L. – Limited liability company)
- Sociedad por Acciones Comanditaria (S. Com. por A. – Partnership limited by shares)
- Sociedad en Comandita Simple (S. Com. – Limited partnership)
- Sociedad Colectiva (S. Col. – General partnership)
- Cooperativas (Co-operatives)
Legal forms that are generally not obliged to publish financial statements include sole traders (autónomos), empresario individual, and comunidad de bienes, unless they meet specific thresholds or sector rules.
3. Companies Required to Audit Financial Statements
The obligation to audit financial statements generally applies if at least two of the following are met for two consecutive years: total assets, net turnover, and number of employees. The table below summarizes the requirements:
|
Legal Form |
Rule |
Criteria |
|
Sociedad de Responsabilidad Limitada (S.R.L. / S.L.) |
Audit required if 2 of 3 criteria are met (for 2 consecutive years): |
Total assets (more than) €2,850,000 Net turnover (more than) €5,700,000 Employees (more than) 50 |
|
Sociedad Anónima (S.A.) |
Audit required if 2 of 3 criteria are met |
Same thresholds as S.R.L. |
|
Sociedad Colectiva / Sociedad en Comandita |
Audit required if 2 of 3 criteria are met |
Same thresholds as S.R.L. |
|
Micro-enterprises / Small entities |
Exempt from audit |
Must meet specific small/micro thresholds under Spanish GAAP |
4. Financial Statements Submission for Listed Companies
Companies listed on the Spanish stock exchange must publish their financial statements on Bolsa de Madrid (https://www.bolsademadrid.es). You can find more information on the official website of CNMV (Comisión Nacional del Mercado de Valores) (https://www.cnmv.es).
5. Deadline for Submission of Financial Statements
The deadline for submitting financial statements is tied to approval at the annual general meeting:
- General meeting approval: within 6 months after fiscal year end
- Filing at the Registro Mercantil: within 1 month after approval (typically by July 31 for calendar-year entities)
6. Partial Financial Statements Submission
Companies classified as small or micro can opt to file abbreviated financial statements, typically excluding a cash flow statement and a full statement of changes in equity, if they meet the necessary thresholds.
7. Consequences of Non-Submission
Failure to submit financial statements on time can lead to fines, restrictions on registering other documents, and potential director liability. Fines commonly range from €1,200 to €60,000.
8. Reporting Requirements for Foreign-Owned Branches
Foreign-owned branches operating in Spain must submit financial statements to the local Registro Mercantil where the branch is registered, mirroring those filed in their home country when applicable and adhering to Spanish deadlines.
Sources
|
Source |
Link |
|
Registro Mercantil (Sede Registral) |
|
|
CNMV (Comisión Nacional del Mercado de Valores) |
|
|
Bolsa de Madrid |
| Start Companies Search | Order Credit Report |
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