The Reform of the Companies Act in Spain

The reform of the companies act in Spain focuses on the urgency for listed companies to update their corporate governance systems and affects shareholders’ general meetings, director’s remuneration and board of directors among other. It came into force on the 1st January 2015.

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Establishing a Partnership in Spain

The process for establishing a partnership requires a private contract, a public deed, a tax on property transfers on certified legal documents and a Spanish tax identification number. This is then implemented through various regional instruments e.g. Spanish Tax Agency.

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Control Plan of the Black Economy in Spain

The Spanish Ministry of Finance is placing a special emphasis on sectors which higher tax risks. Their focus is on new areas of activity or business modalities, companies formed as a result of new technology, and legislative changes or modifications in the behabiour of taxable subjects or taxpayers. 

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Disadvantages of Partnerships in Spain

The most important disadvantage of partnerships in Spain is the unlimited liability of partners for the debts of the partnership. Furthermore, taxation for partnerships is considerably higher. Therefore business owners usually transform the partnership into another type of company.

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Advantages of Partnerships in Spain

Before establishing your business in Spain it is advisable to consider which kind of company might best suit your interests and may be your best option. Spain offers different types of business entities to start a business: limited liability company, public limited company, partnership, new enterprise limited company, etc. each one has different set of legal and fiscal responsibilities.

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General Law for the Protection of Consumers and Users in Spain

The Consumer Protection Act in Spain (Ley General de Protección de los Derechos del Consumidor o Usuario or LOPD) grants consumers and users protection. The reform of the Law on July 2014 introduces modifications regarding contracts with consumers and reinforces the protection of consumers.

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Features of Partnerships in Spain

A Partnership in Spain is a recommended choice for small businesses that prefer simple management and minimal investment. Partners bear personal and unlimited liability for third-party debts. Its establishment is simpler and more cost-effective than a company, with no mandatory registration or minimum initial capital requirement, except for specific contributions.

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Process for Establishing a Partnership in Spain

Before establishing a partnership in Spain it is important to know whiFor a partnership in Spain, the liability of the partners for debts against third parties is personal and unlimited, and its formal establishment is simpler and cheaper than a company. This article lists the process for establishing a partnership as well as its implementationch are the steps to follow and the requirements established by the Spanish government.

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