The Gradually Established Limited Liability Company in Spain
The gradually established limited liability company is a new type of company with an aim to encourage foreign investment in Spain. Its legal structure is similar to the characteristics of the ordinary limited liability company except for some specific obligations aimed at the protection of third parties.
New regulation of the Spanish Insolvency Public Register
The Royal Decree Law 829/2013 regulates the Spanish Insolvency Public Register. The aim of this Law is to provide more transparency on public bankruptcy results and proceedings. This Register will collect information related to bankruptcy proceedings in Spain. This collection will provide public access to more accurate information about the entities involved in bankruptcy proceedings.
Requirements and conditions for foreign investors to obtain the spanish residence permit
The residence permit, which allows foreign investors to reside and work in Spain, is not difficult to obtain. Foreign investors and entrepreneurs may apply for a residence permit if they meet certain legal requirements, and the investment lasts for the entire duration of their stay in Spain.
Property purchase in Spain, an option for the spanish residence permit
Thanks to the new Spanish Internationalization and Entrepreneur Support Act 14/2013,, foreign investors and their family members may obtain a specific residence permit, which allows them to work and live in Spain. Foreign investors are mostly interested in purchasing real estate properties due to the current favourable conditions for this type of investment.
Overtime According to the Spanish Workers’ Statute
According to Section 35 of the Spanish Workers’ Statute, every hour that exceeds the 40-hour per week limit is overtime. This rule corresponds with the maximum duration of the normal working day established in Article 34 of the Spanish Workers’ Statute.
New Law for the promotion of the employment stability in Spain
The Royal Decree Law 16/2013 became effective to promote stable hiring and improve the employability of workers. The new Law introduced amendments to the Spanish Workers´ Statute by making the part-time employment contract in Spain more flexible. The Royal Decree Law 16/2013 introduces changes to the working hours of part-time workers, who from now on cannot work extra hours except in certain specific situations.
The wage guarantee fund in Spain will not contribute to dismissal contributions
An amendment to the Royal Decree Law in Spain removes paragraph 8 of Article 33 from the Spanish Workers´ Statute, which means that the Wage Guarantee Fund will stop paying dismissal compensation for contracts of permanent duration. This change would only apply to companies with fewer than 25 workers during dismissal procedure.
Spanish jurisprudence on the nulity of preferred shares
The First Section Spanish Regional Court of Cáceres (Sección 1ª de la Audiencia Provincial de Cáceres) decided Sentence 3/2013 on January 15 in which the Court declared the nullity of …
Obtaining Spanish citizenship through the residence permit for investment
According to Spanish Internationalization and Entrepreneur Support Act 14/2013, foreign investors may obtain a Spanish residence permit if they make certain investments in Spain. The residence permit or “Spanish Golden Visa” allows foreign investors to apply for Spanish citizenship if they can prove that they are residing in Spain during the applicable time period.
Types of deposits in Spain for purchase agreements
The Spanish legal system distinguishes between the two types of legal deposits (“arras”): penitential deposit, defined under the Spanish Civil Code, and confirmatory and criminal deposits, defined under the Spanish Commercial Code. The purpose of the deposits is to guarantee undertaken obligations. To avoid misinterpretations, the type of the deposit and the consequences of a breach of contract should be strictly defined.
