To start a business in Spain, the choice of the appropriate legal form is crucial. In Spain, the main corporate forms are sole proprietor, partnership or corporation. Differences are present especially in the cost, time and liability.
Managers of a company assume liability for actions against third parties. Under the rules of the Spanish General Taxation Law, the Spanish Treasury can hold them accountable for the company´s unsettled tax debts.
The CIRBE (Centre of Risk Information of the Bank of Spain) is a public and confidential data base that collects information about direct and indirect risks for amounts greater than 6000 euros that credit entities have with their clients. Whenever a correction of information is needed, companies have three different possibilities to make a complaint.
The main characteristic of Spanish Entities Holding Foreign Security is the tax exemption with regards to dividends and capital gains. This constitutes an important incentive for those interested in establishing holding entities in Spain.
The Horizontal Property Act and Article 396 of the Civil Code in Spain provide that the obligations of businesses in a community are the same as those of other owners. Therefore, such businesses should bear the costs arising from maintaining the common areas of the community.
The Law on Chattel Mortgage and Pledge without Transfer of Possession provides for the pledge stock of boats as a guarantee. Its objective is to facilitate credit to dealers to ensure compliance with the obligations of financial institutions.
There are many investment options available to foreign investors, that go from the opening of a new business, the investment in an already established business, the setting-up of a subsidiary or a franchise activity.
One of the changes arising from the Law on Capital Companies in Spain is the distinction between directors acting in their capacity as directors whose remuneration is subject to the principle statutory reserve and directors performing executive functions who, in the event of receiving remuneration, are obliged to sign a contract with the Company.
The main legal forms to establish an activity in Spain have advantages and disadvantages. The correct choice will depend not only on the activity itself as well as on the capital amount you want to invest, but also on the number of shareholders among other factors.
The criteria applicable to criminal liability of legal persons allow prosecutors to assess the effectiveness of the regulatory compliance plans on the criminal liability of legal persons.
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