Approval of the Spanish Law for the Improvement of Corporate Governance by the Council of MinistersThe draft legislation for the improvement of corporate governance introduces modifications and instructions that promote strengthening the Spanish Law. The change will mainly affect listed companies, but it would also apply to other types of companies in Spain.Read more
Application of cash basis in the management of the VAT in SpainWith the new Law of Entrepreneurs, which will enter into force in 2014, the new cash basis for managing the VAT willreplace the old accrual basis. With the new system, the supplier does not need to enter the VAT until the customer is charged and the customer cannot deduct the VAT until they have paid the invoice.Read more
General meeting by video conference for limited partnerships in SpainThe use of remote methods for voting in general meetings of limited liability companies or for delegation in favor of a third party is not prohibited as long as a record of these actions can be found in some medium, film, magnetic band or computer.Read more
Characteristics of the Universal Board Meeting of the Spanish LLCThe general meetings of limited liability companies can be ordinary or extraordinary. The ordinary general meeting must be held within the first six months of each year to approve the …Read more
Requirements of the Agency Agreement in SpainAs defined in Article 1 of the Law of Agency Agreements (from now on LAA), these types of agreements are for which a natural person or legal entity is obligated …Read more
The shareholder’s right to withdrawal in Spain for non distribution of dividendsArticle 93 a) of the Spanish Companies Law (LSC in Spanish) expressly recognizes the shareholders’ entitlement to participate in company profit-sharing. Nevertheless, it is not an automatic entitlement, since, in principle, …Read more
Note to the Partial Reform of the Law of Capital Companies in SpainOn 2 October 2011, Law 25/2011 of August 1 came into force. This law provides for the partial reform of the Capital Companies Act and the transposition of Directive 2007/36/EC …Read more
Steps to start an LLC or limited liability company in SpainTo initiate the establishment of an LLC (Limited Liability Company) in Spain, you need to follow these steps:Read more
General Meetings’ Regulation for Capital Companies in SpainSince September 1, 2010, Section 4 of Title 1 in Book II of the Commercial Code, pertaining to partnerships limited by shares, as well as the laws governing Public Limited Companies, Limited Liability Companies, and Title X of the Stock Markets Law concerning publicly listed companies, has been repealed.Read more
The new Capital Company Law in SpainOn July 2nd, the Council of Ministers approved the Redrafted Text for the Law of Capital Companies (Royal Legislative Decree 1/2010). Effective from September 1, 2010, it unifies regulations for various company types, addressing organizational issues and imperfections.Read more
