These are closed corporations or limited responsibility companies in which most of the share capital belongs to the workers who provide the services in the same companies, who are personally and directly paid.

Characteristics

The company name must include the words “Employee-Owned Corporation” or “Employee-Owned Limited Liability Company” or the corresponding abbreviation (SAL or SLL respectively).

The share capital will be divided into registered shares or partnership shares. For employee-owned corporations, the minimum share capital will be €60,101.21, with a minimum of 25% paid up at the time of the company’s incorporation. For employee-owned limited companies, the minimum share capital will be €3,005.06, paid up at the time of incorporation.

No member can own shares that represent more than one third of the total share capital.

The liability of members towards third parties will be limited to their contributions.