Banking and Finance law addresses the legal footing for the structuring and formalization of structured finance, refinancing and capital market operations. It ranges from asset financing through loans or lines of credit, with or without collateral, to consumer credit or leasing agreement operations.

54 2022 VASP licence Spain

How to obtain a VASP licence in Spain

The VASP licence is a registration process with the Bank of Spain for companies seeking to operate a cryptocurrency activity in Spain. To successfully apply for the VASP license, companies need to collect and submit several documents and forms.

Rregulation of cryptocurrencies in Spain

Regulation of Cryptocurrencies in Spain

Currently, few regulations govern the cryptocurrency sector in Spain. There is a legal vacuum, so companies working with cryptocurrencies are not subject to strict supervision or control by public institutions.

e-money institutions

What is an E-Money Institution?

Electronic money institutions are companies authorized by The Bank of Spain. Their main activity is to transform customers’ money into electronic money on a commercial basis.

International bank guarantees and bankruptcy proceedings

The purpose of this article is to provide an answer to the legal uncertainty that many foreign businessmen have when establishing commercial relations with Spanish companies, as well as the lack of knowledge of current bankruptcy legislation.

Financial assistance rules in Spain

In Spain, article 143 of the Capital Companies Act regulates financial assistance to limited companies and article 150 to public limited companies. The current prohibition prevents a company from contributing financially to the acquisition of its own shares or stocks by a third party.


Contractual guarantees in Spain: the personal guarantee

Personal guarantees include personal securities, which can be characterized as an ancillary obligation, since it depends on the main obligation, and as a subsidiary obligation as well, in that only if the principal debtor fails to comply is it possible to demand payment of the debt from the guarantor.

Enforceable contractual guarantees: the bank guarantee payable on first demand

Among enforceable personal contractual guarantees, the bank guarantee payable on first demand stands out. With this type of guarantee, a banking institution commits to respond to the fulfilment of an obligation, automatically and immediately, and without the ability to demand clear evidence of noncompliance.

The contract guarantees in Spain

Contract guarantees are types of contracts that provide greater security to the settlement of a debt. In Spain there are different types of guarantees: personal guarantees, security rights, financial guarantees or constitutional guarantees.


The abusiveness in the clauses of late-payment interest of personal loans

Recent judgments on abusive clauses oblige institutions and professionals who offer personal loans to consumers residing in Spain to review and adapt the clauses to legal constraints. Find here practical advice to implement.

Regulatory regime applicable to consumer loans in Spain

Consumer loans in Spain are monitored by government regulatory agencies for their compliance with consumer protection regulation. The Bank of Spain (together with the Spanish National Securities Exchange Commission) is the government body that exercises general supervisory powers over domestic credit institutions.