The joint venture contract for the market entry in Spain
Business cooperation and the entrance into the Spanish market are often controlled through joint venture agreements. A joint venture is not defined by Spanish law. To determine the legal requirements, general standards of the Spanish Civil and Commercial Code should be applied, particularly Article 1255 of the Civil Code.
Change in the basis for collective dismissals in Spain
The legal provisions laying down the basis for collective dismissals for economic reasons, as they were defined in the Spanish Workers’ Statute, infringe European Directive 98/59/CE and have undergone a change. Now, only the workplace that is affected by restructuring is regarded as the basis for individual and collective dismissals.
Shelf Companies in Spain
In Spain, shelf companies are, in practice, often used to circumvent the lengthy formalities of incorporation. Saving time and less risk are their biggest advantages. On activation of a shelf company, all the shares must be purchased and its bylaws must be amended and adjusted to align with the company’s business purpose. The final step is the publication of the economic re-establishment at the Spanish Registry Court.
Incorporation in Spain: forms of enterprise
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.
The importance of real estate funds in Spain
Investments in real estate funds in Spain are currently attractive due to low interest rates. For individual investors, there exists the advantage of being able to invest in real estate funds in larger projects such as shopping malls or office complexes. There is a distinction between open and closed real estate funds.
Modernization of corporate governance in Spanish corporations
According to corporate regulations in Spanish corporations, the remuneration of the members of the Board of Directors must be approved during the annual general meeting, at least once every three years.
A manager’s liability to the Spanish Treasury after resgination
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.
Three ways to make a complaint to the CIRBE in Spain
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.
Employment implications of business subrogation in Spain
The aim of business succession regulation is to reinforce the guarantees of workers facing ownership changes, improve information resources and consultation, and increase participatory rights. A business owner must duly seek advice since he or she must take responsibility for pension commitments that workers have in accordance with specific regulations, as well as the various forms of supplementary social protections that the workers have may been endowed with (policies for civil responsibility, life, work-related accidents, temporary disability, help, etc.)
Remarks concerning Consumer Credit Agreements in Spain
The incorporation of a new company in Spain to undertake consumer credit activities does not require a specific regulatory license given that the new company will not be incorporated as a credit institution.
