Requirements and conditions for foreign investors to obtain the spanish residence permit
The residence permit, which allows foreign investors to reside and work in Spain, is not difficult to obtain. Foreign investors and entrepreneurs may apply for a residence permit if they meet certain legal requirements, and the investment lasts for the entire duration of their stay in Spain.
Property purchase in Spain, an option for the spanish residence permit
Thanks to the new Spanish Internationalization and Entrepreneur Support Act 14/2013,, foreign investors and their family members may obtain a specific residence permit, which allows them to work and live in Spain. Foreign investors are mostly interested in purchasing real estate properties due to the current favourable conditions for this type of investment.
Overtime According to the Spanish Workers’ Statute
According to Section 35 of the Spanish Workers’ Statute, every hour that exceeds the 40-hour per week limit is overtime. This rule corresponds with the maximum duration of the normal working day established in Article 34 of the Spanish Workers’ Statute.
New Law for the promotion of the employment stability in Spain
The Royal Decree Law 16/2013 became effective to promote stable hiring and improve the employability of workers. The new Law introduced amendments to the Spanish Workers´ Statute by making the part-time employment contract in Spain more flexible. The Royal Decree Law 16/2013 introduces changes to the working hours of part-time workers, who from now on cannot work extra hours except in certain specific situations.
The wage guarantee fund in Spain will not contribute to dismissal contributions
An amendment to the Royal Decree Law in Spain removes paragraph 8 of Article 33 from the Spanish Workers´ Statute, which means that the Wage Guarantee Fund will stop paying dismissal compensation for contracts of permanent duration. This change would only apply to companies with fewer than 25 workers during dismissal procedure.
Spanish jurisprudence on the nulity of preferred shares
The First Section Spanish Regional Court of Cáceres (Sección 1ª de la Audiencia Provincial de Cáceres) decided Sentence 3/2013 on January 15 in which the Court declared the nullity of …
Obtaining Spanish citizenship through the residence permit for investment
According to Spanish Internationalization and Entrepreneur Support Act 14/2013, foreign investors may obtain a Spanish residence permit if they make certain investments in Spain. The residence permit or “Spanish Golden Visa” allows foreign investors to apply for Spanish citizenship if they can prove that they are residing in Spain during the applicable time period.
Types of deposits in Spain for purchase agreements
The Spanish legal system distinguishes between the two types of legal deposits (“arras”): penitential deposit, defined under the Spanish Civil Code, and confirmatory and criminal deposits, defined under the Spanish Commercial Code. The purpose of the deposits is to guarantee undertaken obligations. To avoid misinterpretations, the type of the deposit and the consequences of a breach of contract should be strictly defined.
New Spanish Public Registry for Bankruptcy
The Official Spanish State Bulletin (BOE) published the Royal Decree 892/2013, which regulates the Public Registry for Bankruptcy. This new Decree will allow banks, consumers, partners, and creditors to have …
The role of the notary public during the purchasing of Real Estate in Spain
The notary plays an important role in the purchasing of real estate property in Spain. The notary deed has access to the Land Registry, which grants legal protection to the owner of the property against third parties. Moreover, the notary validates the legal capacities and identities of the parties, which is another legal protection that the Spanish legal system provides.
