The most important disadvantage of partnerships in Spain is the unlimited liability of partners for the debts of the partnership. Furthermore, taxation for partnerships is considerably higher. Therefore business owners usually transform the partnership into another type of company.
Before establishing your business in Spain it is advisable to consider which kind of company might best suit your interests and may be your best option. Spain offers different types of business entities to start a business: limited liability company, public limited company, partnership, new enterprise limited company, etc. each one has different set of legal and fiscal responsibilities.
The Consumer Protection Act in Spain (Ley General de Protección de los Derechos del Consumidor o Usuario or LOPD) grants consumers and users protection. The reform of the Law on July 2014 introduces modifications regarding contracts with consumers and reinforces the protection of consumers.
A Partnership in Spain is a recommended choice for small businesses that prefer simple management and minimal investment. Partners bear personal and unlimited liability for third-party debts. Its establishment is simpler and more cost-effective than a company, with no mandatory registration or minimum initial capital requirement, except for specific contributions.
Before establishing a partnership in Spain it is important to know whiFor a partnership in Spain, the liability of the partners for debts against third parties is personal and unlimited, and its formal establishment is simpler and cheaper than a company. This article lists the process for establishing a partnership as well as its implementationch are the steps to follow and the requirements established by the Spanish government.
In Spain the new legislation for the protection of consumers includes the extension of the legal period to retract from the contract up to fourteen calendar days. Additionally final prices must be explicitly validated by consumers and users to complete the electronic purchase.
Published on September 28, 2013, in the Spanish Legal Bulletin (BOE), Law 14/2013 introduces various measures aimed at reducing administrative burdens for employers. It simplifies legislation on hazard prevention for employers with up to 25 workers and replaces the physical visiting book requirement with an electronic counterpart accessible to the Spanish Inspectorate of Labour and Social Security.
In a Spanish company, general board meetings can be ordinary or extraordinary based on the topics. A meeting is universal if any issue is valid without prior notice, with all shareholders present or represented and unanimous agreement. It can be held anywhere, nationally or internationally.
On June 23, the Spanish Legal Bulletin (BOE) released Law 1/2012, amending reporting and documentation obligations for company mergers and divisions. These changes, affecting the Capital Companies Act, notably highlight a shareholder’s right to withdraw if a company opts not to distribute profits.
Mariscal Abogados received an invitation to provide insights on a prominent television program in Spain. The focus of the discussion was the contentious and sensitive topic of granting citizenship to investors in select European Union countries.
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