Real Estate Investment Trust (REIT) in Spain, known as SOCIMI (sociedades anónimas cotizadas de inversión inmobiliaria), can benefit from the special tax regime, which consists of a 0% Corporate Income tax rate and a 95% reduction in the Property Transfer Tax, among other benefits.
The legal framework for restructuring and insolvency proceedings governs the reorganization of debt. An insolvency proceeding is an in-court-restructuring procedure that consists of obtaining an insolvency order from a judge. An out-of-court restructuring is where a debtor negotiates directly with its creditors.
In 2014, the Spanish government implemented the out-of-court restructuring procedure through the Royal Decree Law. Its objective is to help debtors avoid bankruptcy by negotiating with their creditors. Given the time and effort it takes, an out-of-court restructuring can be very favourable to both parties.
By the introduction of a new law, the Spanish legal framework on restructuring and insolvency proceedings is more adjustable to a debtor facing bankruptcy. Still, the difficulty of implementing a complete legal framework lies in covering all possible situations of insolvency.
The new Spanish Corporate Governance Code for listed companies aims to improve the corporate governance framework. This improvement can be done by boosting competitiveness and building transparency. In practice, one of the main principles presented by the Code is the “comply or explain” principle which distinguishes between binding rules and recommendations.
Through this article, our ambition is to briefly describe the process of the dissolution and winding-up described in the Spanish Companies Act as a mechanism to put an end to the activity of a company in Spain, but also to clarify the main difference with the process of winding-up in the case of bankruptcy.
One of the main investment alternatives in Spain for a foreign company is the establishment of a subsidiary. This article briefly reviews the two main types of companies in Spain and the ordinary procedures for their establishment.
This article briefly analyses the main differences between setting up a branch or a subsidiary; these differences should be kept in mind when choosing one or the other as a way of investing in Spain.
This article contains some basic notes on the concept, main characteristics, process of formation and fiscal regime applicable to a Spanish branch, one of the main ways of investing in Spain.
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