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Legal Forms of Companies

Sociedad Anonima is a Public Limited Company

Number of partners: At least two shareholders
Capital (max/min): No minimum capital required, but 25% of the capital must be paid up at the moment of incorporation.
Shareholders and liability: Liability is limited to the amount contributed.

Sociedad de Responsabilidad Limitada (SRL) is a Private Limited Company

Number of partners: At least two shareholders, maximum 50
Capital (max/min): No minimum capital required. At the time of the constitution, the partners have to contribute at least 50% of their participation in the share capital.
Shareholders and liability: Liability is limited to the amount contributed.

Sociedad Colectiva (SC) is a general partnership

Number of partners: Minimum 2 partners
Capital (max/min): No minimum capital required.
Shareholders and liability: Liability is unlimited for all partners

Sociedad en Commandita Simple (SCS) is a limited partnership

Number of partners: Minimum 2 partners
Capital (max/min): No minimum capital required.
Shareholders and liability: Liability is limited for sleeping partners, unlimited for managing partners

The Competent Organisation

Company's registration shall be done at the following institutions:

- DGI (Direccion general impositiva) (General Tax Office);
- BPS (Banco de seguro del Estado) (State Insurance Bank);
- MTSS (Government ministry of work);
- MEC (Government ministry of education and culture at the register of the legal representatives of the commercial section).

Source: Doing Business, 2016