New Law for the promotion of the employment stability in SpainThe 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.Read more
The wage guarantee fund in Spain will not contribute to dismissal contributionsAn 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.Read more
Spanish jurisprudence on the nulity of preferred sharesThe 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 …Read more
Obtaining Spanish citizenship through the residence permit for investmentAccording 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.Read more
Types of deposits in Spain for purchase agreementsThe 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.Read more
New Spanish Public Registry for BankruptcyThe 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 …Read more
The role of the notary public during the purchasing of Real Estate in SpainThe 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.Read more
Spanish shareholders will decide on the corporations’ remuneration policyThe 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 …Read more
Foreign Nationals’ access to the Schengen AreaSpain 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.Read more
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 …Read more
