ECONOMIC INTEREST GROUPINGS (EIG)

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Concept/Purpose

The purpose of setting up A.I.E.s is to facilitate the development or improve the results of the activity of their members. A.I.E.s cannot act on behalf of their members or replace them in their operations. A.I.E.s are therefore typically used for the provision of ancillary services such as centralised purchasing or sales, centralised management of information or administrative services, etc., within the context of a wider association or group of companies.

• Legal personality: 

It is important to note that one of the main differences between U.T.E.s and A.I.E.s is that the latter are commercial entities with their own legal personality.

• Incorporation requirements: 

SPANISH LAW ESTABLISHES CERTAIN REQUIREMENTS FOR THE CONSTITUTION OF A.I.E.S:

1. Prohibition to interfere in personnel, financial or investment decisions by its partners, and prohibition to direct or control the activities of its partners.
2. Prohibition to hold, directly or indirectly, shares in companies which are themselves members, unless the acquisition of shares or holdings is necessary for the achievement of their objects. In this case, the shares or holdings must be immediately transferred to its members.
3. They must be formalised in a public deed and registered in the competent Commercial Register.

• Liability of the partners: 

The members of the A.I.E.s are personally and jointly and severally liable for the debts of the A.I.E.. The liability of the members is subsidiary to that of the A.I.E. The main obligation of the members is to contribute to the capital of the A.I.E. in the agreed form and to participate in its expenses.

• Governing bodies:

• • The assembly of partners.
  • The directors, who are jointly and severally liable for the group's tax obligations and for any damage caused to the group, unless they can prove that they have acted with due diligence.

• RegulationThe main provisions are: Law 12/1991 of 29 April 1991 on Economic Interest Groupings.
• European Economic Interest Grouping (E.E.I.G.)It also has legal personality, enjoying the characteristics regulated by the Community Regulation 2137/85, which contains the basic regulations applicable to the A.E.I.E.s.