What is the Commercial Registry

what is the commercial register

El Companies register it is one of the most important institutions that exist. However, not many people know for sure what it is and what functions are carried out. Much less the operation of this. But what if we tell you that you can know?

Find out what the Commercial Registry is, how it works, what it is for and other important information you should know about the institution.

What is the Commercial Registry

The Commercial Registry is a part of the legal security system. Actually, this institution deals with administrative matters, since It is in charge of collecting and registering the acts that have to do with mercantile companies and with those responsible for them.

In other words, the Commercial Registry is an administrative body whose function is to register the actions that have to do with commercial companies and their managers.

In general, the Mercantile Registry is characterized by be of a public natureIn other words, anyone who wants to consult, obtain a copy or a certification of the acts that have been registered can do so, without even having to request permission to do so. That is why it has become a powerful tool for suppliers, banks, real investors, public entities, AEAT, etc.

Each registration that is made is carried out through the personal sheet system. This that stops When a company or a commercial entrepreneur is registered, each and every one of the actions that affect it is noted on the sheet, in such a way that you do not have to be looking at several records but there is usually only one per company or employer.

Who is obliged to the Mercantile Registry

Who is obliged to the Mercantile Registry

As we have told you before, The Commercial Registry is in charge of writing down and registering any act that has to do with commercial companies. Now, not all of them have to be listed in this Registry, far from it.

Specifically, Those who have to be are: self-employed, commercial companies, credit institutions, pension funds, insurance and reciprocal guarantee companies.

Of course, in the case of the self-employed, except for shipping companies, others may or may not do so. But if you don't, then it means that you won't be able to register any documents and you won't be able to use legal effects either.

Although we are talking about a public institution, the truth is that to register you have to pay fees, which are approved by the Government and published in the BOE, as well as the fee for commercial registrars (which is why many freelancers ignore this step).

Functions of the Commercial Registry

Functions of the Commercial Registry

Focusing below on the functions of the Mercantile Registry, the truth is that it not only focuses on the registration of shares related to companies and commercial entrepreneurs, but also carries out many more tasks, including:

  • Seal and legalize the books of entrepreneurs. These are mandatory and employers are asked to always take them to the registry closest to their registered office in order to register them and that all information related to the employer is recorded on the first page.
  • Appoint commercial experts and experts. These are very important since they will be the professionals who value the contributions to the companies or will mediate in case of problems.
  • Appoint auditors, whether for a merger, takeover or spin-off.
  • He is in charge of the annual accounts. Specifically, the Mercantile Registry is in charge of collecting and guarding them. Of course, everything will depend on the companies that are obliged because those that do not have to will be exempt.
  • Registration of companies, entrepreneurs and freelancers.
  • Registration of actions related to freelancers and companies, such as bankruptcies, increases or decreases in capital, appointments and dismissals, information on the employer and / or company, etc.

How does it work

The Mercantile Registry bases its entire operation on five principles that govern its performance:

  • Mandatory. In the sense that registration is mandatory, except in cases expressly stated otherwise.
  • Praying. That is, the Registrar can only write entries in the books when requested, but not on his part or account, but there will have to be an instance of an interested party or an administrative or judicial order. And the same happens if someone requests information from the Mercantile Registry; This has to be guaranteed by an instance made by that person to obtain the information, either through a simple note or a certification.
  • Priority. Because if an act has already been registered, even in a preventive manner, an equal one cannot be re-registered, either with a later or earlier date, and even less if it is opposite or incompatible with the one already registered.
  • Legality. All Registrars act under their own responsibility, so they have to be aware of the legality of the documents, the capacity and the legitimacy of those who grant and subscribe them.
  • Successive tract. That is, to register an act, first of all the company must be registered. The same happens if what you want is to modify or extinguish something.

Information methods

In the Mercantile Registry you will be able to meet two main information methods:

  • Simple notes, which only serve to inform but have no legal validity to present them.
  • The certifications, where it is the Registrar himself who validates, gives good faith and accredits the information that this certification contains. This one would have legal validity.

What is the Central Mercantile Registry

What is the Central Mercantile Registry

Source: Confilegal

Within what is the Mercantile Registry, you should know that there is a Central Mercantile Registry. This organism is responsible for ordering, processing and publishing, in an informative way, all the data that is received by the Mercantile Registries. And where do you publish them? Well, in the Official Gazette of the Mercantile Registry, better known by its acronym BORME.

Another of the functions of the Central Mercantile Registry is to manage the denominations, registering those of all registered entities, either permanently or as a temporary reserve.

Now that you know a little more about the Mercantile Registry, do you have questions about it? Tell us and we will try to help you solve them.

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