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1.1.3. Specific Constraints of Available Legal Entities

There are not, generally speaking, many specific constraints. Most of the businesses in Spain are carried out by the SL. In only a few cases, the SA is required such as for listing purposes, for Securities Investment companies, etc.  

The cost of setting it up an SA  is significantly higher than the cost for setting up the other available forms, in particular due to the significant capital requirements. Hence, SLs are more widely used.