Although ownership has traditionally been the predominant form of housing tenure in Spain, the demand for rental accommodation is rapidly growing, giving rise to new models of rental property investment. Build to rent, rent to rent, coliving, and senior living are clear examples.
The approval of temporary regulations by the EU and the Spanish Government to speed up the processing of EIS (environmental impact statements) provides an incentive to boost the development of renewable energy projects in Spain.
In line with the European strategy to increase the production and use of renewable energy, the European Commission has promoted renewable electricity to produce renewable liquid and gaseous fuels of non-biological origins, such as hydrogen. To this end, it has defined the requirements that hydrogen and other hydrogen-based fuels must meet to be “green”, reducing some of the legal uncertainty.
In Spain, commercial leases are not subject to strict regulations like residential leases, and it leaves a central role to the parties’ will when formalizing the corresponding contracts. However, the LAU contemplates some specific provisions worth considering.
On 25 May, Law 12/2023 was published in the Official State Gazette (BOE), introducing significant changes to the housing sector in Spain. Highlights include the removal of the Consumer Price Index (CPI) for annual rent reviews, rent control in stressed areas and modifications to eviction and foreclosure procedures, among others.
Business succession in the framework of asset sales and purchases takes place when a company acquires the assets of another to continue its activities. In Spain, Article 44 of the Workers’ Statute outlines labour and social security obligations of employers and protection measures for workers involved in this process.
Self-consumption is how a person or company supplies itself with electricity through its installation, instead of buying it from a supplier. Collective self-consumption is a modality in which several persons jointly use a photovoltaic installation to benefit from the energy generated without registering as marketers.
If a foreign company’s main activity is in Spain, it must have a corporate presence in Spain, either through the creation of a subsidiary, branch, commercial office or the acquisition of an existing business. Each option has its own legal and tax requirements, and the choice will depend on the business needs and objectives.
The High Court of Catalonia has increased the compensation for unfair dismissal to 48 days’ salary per year of service, with a maximum of 36 monthly payments. This decision goes against the indemnification established by law.
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.