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.
Spanish shareholders will decide on the corporations’ remuneration policy
The Spanish Companies Act faces amendment on issues relating to the Annual General Meeting (AGM), directors, and the payment of counsellors. Among other amendments, the Shareholders’ Meeting shall approve the …
Foreign Nationals’ access to the Schengen Area
Spain passed the Internationalization and Entrepreneur Act, Law 14/2013, which allows foreign investors to obtain a specific permit that allows them not only to work in Spain but also to travel within the Schengen area.
Clawback Of Intra-group Guarantees: Group Interest as a Safe Harbour or rather as Pearl Harbour?
The benefits of belonging to a group of companies are well known. The integration of companies within a group not only improves each of the companies’ competitive positions within their …
Perspectives on Spanish investment in 2014
Spain provides excellent investment opportunities in 2014, especially in the real estate sector. The growth in Gross Domestic Product and improvement in the labour market seem to point towards the end of the crisis and bring more opportunities for profitable investment in Spain.
