In September 2014, the Spanish government adopted a law to support entrepreneurs; fifteen months later, it is considering adopting seven new measures that will simplify the administrative steps for granting this golden visa or residential permit in Spain.
Among the new measures are included actions to: facilitate the incorporation of new members to entities in the social economy, support and strengthen the various entities that compose the economy and assist workers joining the labour market.
With the reform of the Spanish Penal Code, a company is liable for offenses committed by itself or by its employees acting on its behalf, if it cannot demonstrate that it has put in place the necessary means to prevent such criminal behaviour.
Electronic evidence is valid in the Spanish legal system and is admissible in trial if it is relevant and has been lawfully obtained.
In case of a business transfer, in Spain as in Germany, employees must be informed about the date of the transfer, the reasons for it, the legal, economic and social consequences, as well as planned performance measures.
Based on the amendments of the Capital Companies Act of May 2015, a board will have the power to change the registered office of a company within the Spanish territory, unless the company’s bylaws grant this power to the general shareholder’s meeting.
Law 2/2015 replaces the method of updating the rent of urban leases in Spain, the IPC, with the Warranty Competitiveness Index (IGC). This modification has affected various articles of the Urban Leasing Act in Spain.
The management of an LLC in Spain is determined by its administrative organs, provided by law or statute, but also by the assembly of shareholders, either universal or general, ordinary or special/extraordinary.
Real estate is an interesting possibility to invest in Spain due to the drop on property prices; it is nevertheless advisable to consult a qualified legal adviser to guarantee your investment.
On 1 April 2015, new legislation came into force in Spain requiring landlords and tenants to write down revisions to the rent. If not specified otherwise, the new Competitiveness Warranty Index (IGC) will replace the current CPI index as the default revision.
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