The name “Firma Social” is the official registration of a company or partnership under Spanish law.
In Spanish law, the term “firma social” refers to the registered name of a corporation or partnership. When starting a business in Spain, a group of individuals must register their company with the government and select a firma social as the official name. For instance, a group of friends opening a restaurant might opt for “La Mesa Feliz” (The Happy Table) as their firma social. This example demonstrates the importance of choosing a firma social, as it will be used on all official documents and in all business dealings.
A Firma Social is a legal entity that is formed for the purpose of carrying out social or charitable activities. It is similar to a non-profit organisation in other countries.
To start a Firma Social, you will need to register with the appropriate government agency and fulfill any legal requirements for forming a social enterprise.
Forming a Firma Social can provide tax benefits, access to grants and funding, and a positive reputation within the community for your social or charitable activities.
While the primary purpose of a Firma Social is to carry out social or charitable activities, it can still generate a profit. However, the profit must be used to further the organisation’s social mission rather than distributed to shareholders.
Firma Socials are typically required to submit annual reports detailing their activities and financial information to the government agency overseeing social enterprises.
Yes, individuals working for a Firma Social can receive a salary for their services, but it must be reasonable and in line with industry standards.
Yes, a Firma Social can engage in commercial activities as long as the profits are used to further the organisation’s social mission.
Yes, Firma Socials often rely on volunteers to help carry out their social or charitable activities.
Yes, a Firma Social can be dissolved if it is no longer able to carry out its social mission or if it is no longer financially viable.
Yes, Firma Socials can receive donations from individuals, businesses, and other organisations to support their social or charitable activities.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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