Real Estate Investment Trust (REIT) in Spain, known as SOCIMI (sociedades anónimas cotizadas de inversión inmobiliaria), can benefit from the special tax regime, which consists of a 0% Corporate Income tax rate and a 95% reduction in the Property Transfer Tax, among other benefits.
FinTech is becoming one of the most influential sectors within the economy. It has simplified mundane and extensive tasks in many industries through technological innovation within the financial sector. Law firms are starting to benefit from FinTech through different tools, which could possibly lead to law firms becoming smaller entities as more work is left to computers.
The franchisor must consider the fundamental aspects of the business and what he wants to transmit to the franchisee in order for its project to function. In addition, the franchisor must have previously developed and have good knowledge of both the business model and the corporate image.
In 2011, the entity Bankia made a public offering of shares (IPO), where the detail brochure, the only informative channel for small investors, distorted the veracity of the entity’s accounts. Five years later, the Supreme Court ratified the nullity of the purchase of shares.
Retirement in Spain is not compulsory except in the cases outlined in Law 3/2012, of 6 July, on urgent methods to reform the labour market.
The legal framework for restructuring and insolvency proceedings governs the reorganization of debt. An insolvency proceeding is an in-court-restructuring procedure that consists of obtaining an insolvency order from a judge. An out-of-court restructuring is where a debtor negotiates directly with its creditors.
Some of the financing measures the Entrepreneurs Law introduces to support investments in Spain include the refinancing agreement, the procedure for appointment of an independent expert, the public deed mortgages and bonds of internationalization and the minimum share capital of mutual guarantee companies (MGC).
An out-of-court settlement is a legal arrangement between parties outside of court and without a trial. Some of its benefits are the reduction in expenses and stress, its greater privacy, its predictability, finality and flexibility. In Spain, the modification to the Bankruptcy Act has introduced out-of-court settlement as an alternative to contestations and formal refinancing agreements.
By means of Law 14/2013 (“Entrepreneurs Law”), Spain has undertaken different reforms to create growth and employment and promote the initiation of entrepreneurial activities. Some of these measures include the constitution of a company by public deed, the incorporation of a limited liability company using the DUE and the CIRCE systems without using their model bylaws and the discharge and onset of the activity of individual entrepreneurs and commercial corporations.
The French- Spanish legal dictionary provides the translation of over 2,500 legal terms and expressions from French to Spanish and vice versa and an update of the legal issues in Spain.
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