Reform of the General Law for the Protection of Consumers and Users in SpainIn 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.Read more
Support for the Growth and Development of Business Projects in SpainPublished 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.Read more
Universal Board Meetings in the Spanish CompanyThe 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.Read more
Ordinary and Extraordinary Meeting in the Spanish CompanyIn 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.Read more
Simplification of the Rights of Shareholders in SpainOn 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.Read more
On air tonight: a Spanish lawyer on TVMariscal 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.Read more
Preliminary Reports to the General Meeting of Shareholders in SpainThe 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.Read more
Classification of economic and entrepreneurial business activities in SpainUnder 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.Read more
Promotion of investments by venture capital funds in SpainSpain 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.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
