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sociedad sin actividad

English translation: dormant company

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:sociedad sin actividad
English translation:dormant company
Entered by: Eugenio Llorente
Options:
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10:13 Aug 4, 2010
Spanish to English translations [PRO]
Marketing - Marketing / Market Research / empresarial
Spanish term or phrase: sociedad sin actividad
En España existe la posibilidad de crear una empresa ante un notario sin darla de alta en hacienda, etc. Esto se conoce, a falta de un término más riguroso, como "empresa sin actividad". En este sentido existe un tipo de sociedad "sin actividad", que se crea para proteger el patrimonio, este tipo de sociedad, "sociedad patrimonial", creo que en inglés se dice "holding company". Impropiamente en España a veces se habla de crear una "sociedad patrimonial" cuando en realidad se refieren a crear una sociedad sin actividad, o que deje de tener actividad en su momento. Es decir, se crea una sociedad a efectos de proteger determinados bienes o privilegios y no se la da de alta en Hacienda o ante los organismos oficiales. No se si existe este concepto en el mundo anglosajón, o esta posibilidad de tener una "sociedad dormida". Ruego por tanto sugerencias en cuanto a la traducción del término propuesto, y tanto mejor si existe dicho específo término.
Eugenio Llorente
Spain
Local time: 11:25
dormant company
Explanation:
http://www.bytestart.co.uk/content/19/19_1/dormant-company-g...

--------------------------------------------------
Note added at 1 hora (2010-08-04 11:39:37 GMT)
--------------------------------------------------

What is a dormant limited company?

A dormant company is one that doesn’t trade and has no accounting transactions. Small companies may choose to buy a dormant company to protect the name, or for other reasons.
http://www.bytestart.co.uk/content/19/19_1/dormant-company-g...


Definition & Meaning for Dormant Company
The term dormant applies to a company that, in legal terms, has no significant accounting transactions during a financial year. It is not the same as a non-trading company, a term that has no legal meaning. No significant accounting transactions means no entries in the company's accounting records. The amount paid for shares when the company is first formed and a few costs that the company may incur in order to keep the company registered at Companies House do not count as significant accounting transactions. A company can be non-trading in the sense that it is not doing business. However, it may still have other accounting transactions going through its books, which means that it is not dormant in a legal sense. A dormant company must not have any accounting transactions except specific allowable transactions that can be disregarded. Dormant or Non-Trading - as the company is non-trading, it is required to file Dormant Accounts annually to Companies House. Dormant accounts show very little financial data except for assets and shares held. If the company becomes active again, it will be required to file normal Annual Accounts again. Due to the lack of financial data, a dormant company will not be assigned a credit score or limit, also there will be little company information.
http://www.ukincorp.co.uk/s-49-uk-dormant-company.html

WHAT IS DORMANT A COMPANY?
The term "dormant" applies to a UK limited company that, in legal terms, has "no significant accounting transactions" during a financial year. It is not the same as a "non-trading company", a term that has no legal meaning. No significant accounting transactions means no entries in the company's accounting records. The amount paid for shares when the company is first formed and a few costs that the company may incur in order to keep the company registered at Companies House do not count as significant accounting transactions.

WHAT IS THE DIFFERENCE BETWEEN A NON-TRADING COMPANY and A DORMANT COMPANY?
A company can be non-trading in the sense that it isn't doing business. But it may still have other accounting transactions going through its books, which means that it is not dormant in a legal sense. A dormant company must not have any accounting transactions except specific allowable transactions that can be disregarded.

WHY HAVE A DORMANT COMPANY?
Companies can be dormant for various reasons, often to protect a company name, in readiness for a future project, or to hold an asset or intellectual property. Some flat management companies whose main purpose is to own the head lease or the freehold of a property choose to become dormant by setting up a residents' association to deal with any expenses. A company can remain dormant for as long as necessary - indefinitely if, for example, its purpose it just to prevent the name being used by another company.

http://www.ukincorp.co.uk/s-49-uk-dormant-company.html

Selected response from:

Lisa McCarthy
Spain
Local time: 11:25
Grading comment
Muchas gracias por la respuesta y explicaciones. Disculpa el retraso.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +1shell companyxxxOmar H
4 +1non-trading company
InfoMarex
3 +1dormant company
Lisa McCarthy
3dummy company
James A. Walsh


  

Answers


15 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
sociedad sin actividad
dummy company


Explanation:
I *think* this might be the equivalent in English.

Good luck.


    Reference: http://books.google.co.uk/books?id=A1DSRpE9RrsC&pg=PA1062&lp...
    Reference: http://www.google.co.uk/search?q=%22Dummy+company%22&hl=en&r...
James A. Walsh
Spain
Local time: 11:25
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in category: 59
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 5/5 peer agreement (net): +1
shell company


Explanation:
Shell company

Shell company:
A shell company is a company that exists but does not actually do any business or have any assets.
http://moneyterms.co.uk/shell-company/


A shell corporation is a company which serves as a vehicle for business transactions without itself having any significant assets or operations
http://en.wikipedia.org/wiki/Shell_corporation

http://www.google.es/#hl=es&q="sociedad sin actividad" "shel...

xxxOmar H
Local time: 11:25
Native speaker of: Native in ArabicArabic, Native in SpanishSpanish

Peer comments on this answer (and responses from the answerer)
agree  argosys
5 hrs
  -> Thank you argosys
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
dormant company


Explanation:
http://www.bytestart.co.uk/content/19/19_1/dormant-company-g...

--------------------------------------------------
Note added at 1 hora (2010-08-04 11:39:37 GMT)
--------------------------------------------------

What is a dormant limited company?

A dormant company is one that doesn’t trade and has no accounting transactions. Small companies may choose to buy a dormant company to protect the name, or for other reasons.
http://www.bytestart.co.uk/content/19/19_1/dormant-company-g...


Definition & Meaning for Dormant Company
The term dormant applies to a company that, in legal terms, has no significant accounting transactions during a financial year. It is not the same as a non-trading company, a term that has no legal meaning. No significant accounting transactions means no entries in the company's accounting records. The amount paid for shares when the company is first formed and a few costs that the company may incur in order to keep the company registered at Companies House do not count as significant accounting transactions. A company can be non-trading in the sense that it is not doing business. However, it may still have other accounting transactions going through its books, which means that it is not dormant in a legal sense. A dormant company must not have any accounting transactions except specific allowable transactions that can be disregarded. Dormant or Non-Trading - as the company is non-trading, it is required to file Dormant Accounts annually to Companies House. Dormant accounts show very little financial data except for assets and shares held. If the company becomes active again, it will be required to file normal Annual Accounts again. Due to the lack of financial data, a dormant company will not be assigned a credit score or limit, also there will be little company information.
http://www.ukincorp.co.uk/s-49-uk-dormant-company.html

WHAT IS DORMANT A COMPANY?
The term "dormant" applies to a UK limited company that, in legal terms, has "no significant accounting transactions" during a financial year. It is not the same as a "non-trading company", a term that has no legal meaning. No significant accounting transactions means no entries in the company's accounting records. The amount paid for shares when the company is first formed and a few costs that the company may incur in order to keep the company registered at Companies House do not count as significant accounting transactions.

WHAT IS THE DIFFERENCE BETWEEN A NON-TRADING COMPANY and A DORMANT COMPANY?
A company can be non-trading in the sense that it isn't doing business. But it may still have other accounting transactions going through its books, which means that it is not dormant in a legal sense. A dormant company must not have any accounting transactions except specific allowable transactions that can be disregarded.

WHY HAVE A DORMANT COMPANY?
Companies can be dormant for various reasons, often to protect a company name, in readiness for a future project, or to hold an asset or intellectual property. Some flat management companies whose main purpose is to own the head lease or the freehold of a property choose to become dormant by setting up a residents' association to deal with any expenses. A company can remain dormant for as long as necessary - indefinitely if, for example, its purpose it just to prevent the name being used by another company.

http://www.ukincorp.co.uk/s-49-uk-dormant-company.html



Lisa McCarthy
Spain
Local time: 11:25
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 188
Grading comment
Muchas gracias por la respuesta y explicaciones. Disculpa el retraso.

Peer comments on this answer (and responses from the answerer)
agree  translatol: I think this is the traditional UK term.
2 hrs
  -> Thanks :)
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
non-trading company


Explanation:
As Lisa also says, depending on the type of company, it could be a "dormant" company.

The difference being that the non-trading company may simply be there to protect a company name, while a dormant one, having traded may simply have ceased to trade.

InfoMarex
Ireland
Local time: 10:25
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
agree  Ruth Ramsey: Yes, I'd say it was a non-trading company or holding company.
1 hr

neutral  Lisa McCarthy: Hi Michael, just a correction re your comment "while a dormant one, HAVING TRADED..." The dormant company may never have traded.
4 hrs
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