After the approval of the Law to Support Entrepreneurs and Internationalization, the Financial Commission is preparing to pass the draft on to the Senate and then to the Congress of Deputies to ratify the final official text.
Commercial contracts in Spain are governed by the Code of Commerce. Knowing its legislation is fundamental to carry out any operation in a secure way such as acquisitions and sales of companies, joint ventures, OPAs, OPVs, commercial sales as well as any kind of contract (representation, commercial distribution, national sale of merchandise, intra and extra EU, etc.).
The draft of the Law to Support Entrepreneur and Internationalization was approved at the Minister’s meeting that took place on June 28, 2013. The bill is now to be passed on to the government for which special plenary sessions will be hold on July 16th and 17th.
According to various news sources including www.abc.es, we will soon have more information about the Entrepreneur Law Project. The much anticipated announcement was made by Vicepresident Soraya Sáenz de Santamaria yesterday in Berlin. She announced that, this Friday, the Spanish Council of Ministers will approve the project. We anticipate that after the project´s approval we […]
Some news outlets reported last week that the Spanish Government would approve the proposal of the Entrepreneur’s law during their sessions last Friday, June 14, 2013. This is the future law that, among other measures, is slated to provide residence permits for those non EU citizens who purchase property or Invest in Spain. Unfortunately, no […]
The Law 3/2004 of December 29 established measures to combat late payment in commercial transactions. Specifically, Article 7.2 clarified the default interest rate. Until February 23, 2013, the Article dictated: The legal rate of interest for late payment that the debtor will have to pay is the sum of the interest rate that the European […]
This week, news outlets report some new information about the entrepreneurs’ law that is still in its draft stage. The government will soon pass a law that will allow, among other things, foreign investors to get Spanish residency if they purchase a property in Spain or Invest in Spanish companies. The details are still being […]
Last Friday the 24th of May, the government introduced a bill for the proposed Entrepreneurs’ Law. When they Law is approved, the government will include special measures to help foreign investors obtain Spanish residency. It is still unknown when the proposal will go into effect. Also, some of the fine print is still unknown. In […]
The recent Mediation Law on Commercial and Civil Issues (Law 5/2012, 6th of July) needs regulatory development. To this end, lawmakers have drafted a Royal-Decree Project (Project) that develops the Law. This Project focuses on three aspects: training, registration, and the professional liability of mediators. The Ministry of Justice submitted a draft of the Project […]
Today, we anticipate that the Spanish Government will announce the draft bill of the Entrepeneurs Law, which will include, among other issues, some measures attract investors and entrepreneurs to Spain. The bill will allows non-EU residents to obtain a residence permit in Spain. The visa will probably be valid for five years and renewable after […]
Last week we heard updates about the new law aimed at attracting investors to Spain. (elEconomista, a Spanish News Journal) The law was originally proposed in November of 2011 and will grant residency permits to people who invest in Spanish business and create employment opportunities in Spain, or to those who purchase a home in […]