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.
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.
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.
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 …
Problems associated with obtaining a European patent have led to the series of agreements reached by the EU Justice Ministers. The meeting proposed specialised jurisdiction for patents with an aim to make the procedure faster and reduce its costs. Such progress in legislation would grant patent protection in all European Union Member States.
This short article discusses land titles in the context of the provisions of Article 104 of the Law on Corporations, specifically the text, The private limited company shall maintain company …
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