The Commercial Code in Spain establishes the regulation for the different phases of a contract’s life, from pre-contractual phase to the contract’s extinction and incompletion, The new regulation aims a more efficient market.
The creation or development of a project or activity in Spain will need to comply with the regulations within the Spanish new Commercial Code. The general provisions will depend on the type of company: partnership or venture capital company.
The legal conditions of recruitment in Spain require the employer to provide the consumer with additional information prior to signing the contract. This additional information must be relevant, truthful and sufficient about the main characteristics of the contract especially with regards to their legal and economic conditions.
The use of the electronic cigarette in Spain is being partially regulated in accordance with the Law 28/2005 in order to comply with health and safety regulations. Although the use of electronic cigarettes is not limited to all of the same restrictions as smoking (e.g. indoors: public administration buildings), it does restrict their sale to minors and it also regulates advertisements for electronic cigarettes which may no be broadcast during the hours of children´s television for example.
Although there are international conventions that rule intellectual property rights, Spain has recently included in its draft of the New Commercial Code important changes that will affect the Law of Competition and Industrial Property.
The reform of the companies act in Spain focuses on the urgency for listed companies to update their corporate governance systems and affects shareholders’ general meetings, director’s remuneration and board of directors among other. It came into force on the 1st January 2015.
The new Commercial code in Spain introduces certain changes in the pecuniary liability of owners of limited liability companies, the creditors’ meetings and the transfer of the company as a whole.
The process for establishing a partnership requires a private contract, a public deed, a tax on property transfers on certified legal documents and a Spanish tax identification number. This is then implemented through various regional instruments e.g. Spanish Tax Agency.
Legal advice for Chinese investments in Spain
The Spanish Ministry of Finance is placing a special emphasis on sectors which higher tax risks. Their focus is on new areas of activity or business modalities, companies formed as a result of new technology, and legislative changes or modifications in the behabiour of taxable subjects or taxpayers.
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