Foreign Companies that have branches in Spain are obliged to deposit their annual accounts in the Commercial Register.

In the event that the law of the foreign Company does not establish the obligation to prepare accounts or does not do it as equivalent to the Spanish legislation, the foreign Company should make those accounts in relation with the activities of the branch and deposit them in the Commercial Register.

After more than one year from the closing date of the fiscal year without having practiced the filing of annual accounts, no document relating to the branch can be registered while the failure persists, except as provided by law.