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.
In Spain the new legislation for the protection of consumers includes the extension of the legal period to retract from the contract up to fourteen calendar days. Additionally final prices must be explicitly validated by consumers and users to complete the electronic purchase.
Published on September 28, 2013, in the Spanish Legal Bulletin (BOE), Law 14/2013 introduces various measures aimed at reducing administrative burdens for employers. It simplifies legislation on hazard prevention for employers with up to 25 workers and replaces the physical visiting book requirement with an electronic counterpart accessible to the Spanish Inspectorate of Labour and Social Security.
The Universal General Board Meeting remains valid even if notice requirements are not met, as stated in Article 178 of the Capital Companies Act. In this unique meeting, rules for notice are unnecessary, as unanimous agreement and the presence of all members ensure the respect of attendance, information, and voting rights.
In a Spanish company, general board meetings can be ordinary or extraordinary based on the topics. A meeting is universal if any issue is valid without prior notice, with all shareholders present or represented and unanimous agreement. It can be held anywhere, nationally or internationally.
On June 23, the Spanish Legal Bulletin (BOE) released Law 1/2012, amending reporting and documentation obligations for company mergers and divisions. These changes, affecting the Capital Companies Act, notably highlight a shareholder’s right to withdraw if a company opts not to distribute profits.
Mariscal Abogados received an invitation to provide insights on a prominent television program in Spain. The focus of the discussion was the contentious and sensitive topic of granting citizenship to investors in select European Union countries.
The shareholders of a limited liability company can, either in writing before the general board meeting or verbally during the meeting, request reports or clarifications that they deem necessary regarding matters included in the agenda of the day.
Under the Entrepreneur Support and Internationalization Law effective since September 29, 2013, entrepreneurs must identify their core business using the economic activity code from the National Classification of Economic Activities (CNAE). The pertinent codes should be included in official documents and the initial registration entry in public registries.
Spain is addressing economic challenges with state investments to boost private investment. Rajoy’s economic growth and entrepreneurship support plan include a proposed law to encourage venture capital fund investments in the country.
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