Recovery of the Investment in the Real Estate in Spain
Favourable conditions to invest in the real estate market in Spain are the strategy to promote foreign investment. The Spanish Government encourages foreign executives to reside in Spain, which has resulted in an increase of investments in non-residential property in Spain.In 2013, this increase in investments reached 2,000 million Euros.
Objective dismissals in Spain will cost more to companies
The passing of the new 22/2013 Act of December 23 of the State Budget for 2014 has negated Article 33.8 of the Spanish Workers’ Statute. Article 33.8 provided compensation by …
The New Liquidities in Insolvency Proceedings in Spain
Half of the newly invested funds in refinancing lack insolvency privilege, requiring timely payment. This percentage temporarily rises to 100% for enhanced protection.
Ways to incorporate companies in Spain
There are now two electronic methods for incorporating companies in Spain, depending on whether standard bylaws are utilized. Alternatively, companies can still be incorporated using traditional paper filing, either physically or electronically with the Registry. In summary, there are two contemporary ways to incorporate companies in Spain.
The Gradually Established Limited Liability Company in Spain
The gradually established limited liability company is a new type of company with an aim to encourage foreign investment in Spain. Its legal structure is similar to the characteristics of the ordinary limited liability company except for some specific obligations aimed at the protection of third parties.
New regulation of the Spanish Insolvency Public Register
The Royal Decree Law 829/2013 regulates the Spanish Insolvency Public Register. The aim of this Law is to provide more transparency on public bankruptcy results and proceedings. This Register will collect information related to bankruptcy proceedings in Spain. This collection will provide public access to more accurate information about the entities involved in bankruptcy proceedings.
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.
