España – Compra de una unidad productiva y responsabilidad fiscal

16 de octubre de 2018

  • España
  • Derecho Societario
  • M&A

Constituye el objeto de la presente Nota el análisis de las nuevas obligaciones que el RDL 6/2019 establece, en materia de igualdad, a cargo de todo tipo de Empresas (con independencia de cuál sea el número de trabajadores) y, concretamente, para aquéllas empresa que cuenten con 50 o más trabajadores.

La principal novedad que encontramos a este respecto reside en la obligatoriedad, para empresas que cuenten con 50 o más trabajadores, de implantar un plan de igualdad, de conformidad con lo establecido en los artículos 45 y siguientes de la LOIEMH.

En cuanto al contenido y las condiciones de implantación del Plan de Igualdad en las Empresas, encontramos las siguientes novedades:

  • Se enumeran taxativamente las materias y contenido mínimo que debe recoger todo plan de igualdad.
  • Se introduce, como materia que debe contener el Plan, un análisis sobre la Infrarrepresentación femenina en la Empresa.
  • El diagnóstico que debe realizar la empresa con carácter previo a la elaboración del Plan de Igualdad debe ser negociado con la representación legal de los trabajadores.
  • Se crea un Registro de Planes de Igualdad de las Empresas, en el que deben inscribirse todos los planes de igualdad implantados en las Empresas, con independencia del número de trabajadores que tengan.

Por otro lado, el RDL 6/2019 da una nueva redacción al artículo 28 del Estatuto de los Trabajadores, que recoge la obligación de la Empresa de cumplir con la exigencia de igualdad de salario entre hombres y mujeres, estableciendo una serie de medidas y obligaciones a cargo de las Empresas, al objeto de procurar el efectivo cumplimiento de la igualdad salarial.

En concreto, estas nuevas medidas adoptadas en el artículo 28 del ET son las siguientes:

  • Se especifica lo que ha de ser considerado como “trabajo de igual valor”, a fin de facilitar un único concepto y eliminar cualquier duda al respecto.
  • Las Empresas tienen la obligación de llevar un Registro Salarial, con los valores medios de los salarios, los complementos salariales y las percepciones extrasalariales de su plantilla, diferenciados por sexo y distribuidos por grupos profesionales, categorías profesionales o puestos de trabajo iguales o de igual valor.
  • El Registro Salarial deberá ser accesible a la representación legal de los trabajadores.
  • En las empresas con 50 o más trabajadores en las que el promedio de las retribuciones a los trabajadores de un sexo sea superior a los del otro en un 25% o más, deberá incluirse en el Registro Salarial una justificación de dicha diferencia, debiendo acreditar que la misma se debe a motivos ajenos al sexo de los trabajadores.

El incumplimiento, por parte de las Empresas, de las obligaciones en materia de Igualdad y, en concreto, aquéllas relativas al Plan de Igualdad e Igualdad salarial entre hombres y mujeres, podrán comportar la imposición de importantes sanciones por parte de la Inspección de Trabajo y la TGSS.

La Ley española del Contrato de Agencia y la Directiva europea prevén para el agente — salvo en ciertos casos —, una indemnización por clientela cuando la relación se termina, en función de la retribución percibida por el Agente durante la vida del contrato. Es, pues, una carga que en general todo empresario tendrá pendiente al terminar el contrato.

La tentación es intentar librarse de su pago y para ello nos consultan con frecuencia acerca de estrategias o tácticas. A continuación intento resumir algunos de ellos indicando las posibilidades de éxito (o no) que pueden tener, tanto en la fase de negociación/redacción del contrato, como en la fase de resolución.

  1. Cambiar el nombre del contrato

La primera idea es hacer un contrato “parecido” al de agencia o llamarlo de otra forma (de servicios, de intermediación, de representación…). Ahora bien, el cambio de nombre no tiene ninguna incidencia ya que los contratos “son lo que son” y no lo que las partes los llaman. Así que si hay una intermediación continuada a cambio de una remuneración, hay muchas posibilidades de que un juez lo considere como contrato de agencia, lo llamemos como lo llamemos. Y ello con todas sus consecuencias.

  1. Limitar la indemnización en el contrato

Otra tentación en la fase de redacción del contrato es acordar una indemnización menor que el máximo previsto legalmente, prever su pago por adelantado mientras dura el contrato, o directamente eliminarla.

Ninguna de estas soluciones sería válida si intentan disminuir la posibilidad de que el Agente perciba el máximo legal, o por motivos no previstos en la Ley ni la Directiva. La ley manda.

  1. Encadenar varios contratos de agencia

Dado que la indemnización se calcula según las remuneraciones de los últimos cinco años y de la clientela creada, la tentación es encadenar varios contratos de menor duración para considerar solo los clientes del último período.

Esto no necesariamente será una buena idea si el último año, por ejemplo, se crearon muchos clientes, pero, además puede resultar inútil porque la ley española y la Directiva prevén que el contrato de duración determinada que continúa ejecutándose se transforma en indefinido. El juez podrá considerar todos los contratos encadenados como uno único.

Para que esta estrategia tenga posibilidad de ser útil, habría que liquidar cada contrato sustituido, declarar que “nada tienen que reclamarse las partes” y que los sucesivos contratos estén suficientemente separados y tengan diferente entidad, redacción, extensión, etc. Si se plantea bien, podría ser una vía para liberarse de una mayor indemnización por clientela: un pacto bien redactado por el que el agente declara recibida la indemnización, y que el siguiente contrato no reitere miméticamente y de forma inmediata el contenido del anterior.

  1. Someter el contrato a un derecho extranjero

En contratos internacionales la tentación es someter el contrato a un derecho que no sea el español, en particular, cuando el Principal es de dicha nacionalidad.

La idea puede ser buena o mala según el derecho elegido y siempre que guarde alguna relación con el negocio. Como se sabe, en la UE la Directiva establece unas condiciones mínimas que las legislaciones nacionales deben respetar. Pero nada impide a estas leyes prever condiciones más ventajosas para los agentes. Esto hace que, por ejemplo, elegir el derecho francés sería, en general, una idea mala para el Principal porque la indemnización en ese país suele ser mayor.

En algunos casos, la elección de un derecho de fuera de la Unión Europea que no prevea la indemnización por clientela cuando el agente es europeo ha sido rechazada por considerar que se está vulnerando el derecho mínimo reconocido en la Directiva.

  1. Someter el contrato a reglas y jueces no nacionales

Otra posibilidad menos frecuente es la de someter el contrato a normas no de un país, sino a normas mercantiles generales (Lex Mercatoria) y acordar una indemnización menor.

Esto no es muy frecuente, y puede no resultar muy útil según quien haya de interpretar el contrato y dónde resida el agente. Si, por ejemplo, el agente reside en España y quien va a interpretar el contrato es un juez español, con mucha probabilidad va a interpretar el contrato según sus propias normas sin verse vinculado por lo que prevea el contrato. De nada habrá servido.

  1. Someter el contrato a arbitraje

Diferente será la cuestión si el contrato está sometido a arbitraje. En este caso los árbitros, normalmente, no están sometidos necesariamente a interpretar un contrato según las normas nacionales propias si el contrato está sometido a otras diferentes. En este caso sí que cabría la posibilidad de que se sintieran más libres de considerar exclusivamente el contrato, sobre todo cuando el agente no fuera de su nacionalidad, desconociera cuál es el derecho del país del agente y no se viera vinculado por las garantías previstas para su protección.

  1. La mediación en el contrato de agencia

La mediación es una forma alternativa de solucionar un conflicto que puede usarse también en contratos de agencia. Con ella son las partes, ayudadas por el mediador, quienes resolverían la controversia.

En este caso, dado que el mediador no es quien decide, es posible que las partes lleguen libremente a un acuerdo por el que el agente se conforme con una indemnización menor si, por ejemplo, se le confieren otras ventajas, reconocimientos, si llega al convencimiento de tener menor derecho, dificultad de prueba, si prefiere ahorrarse otros costes, tiempo, energías para su nuevo negocio, etc.

Los mediadores velan por el equilibrio de las partes, pero nada impide que ambas concluyan una indemnización menor al máximo legal (tras la conclusión del contrato es posible negociar una inferior a la legal). Prever la mediación en el contrato de agencia, es, por lo tanto, una buena idea para poder abordar y negociar mejor esta indemnización por clientela. Además, prever la mediación no limita los derechos de ninguna de las partes para retirarse y proseguir por la vía judicial exigiendo el máximo legal.

  1. Imputar al agente un incumplimiento previo

Cuando el contrato termina, esta es, sin duda, la causa que se intenta con más frecuencia: cuando se quiere resolver el contrato, el Principal intenta argumentar que el Agente lo ha incumplido previamente y que por eso se está resolviendo el contrato.

La ley y la Directiva exceptúan el pago de la indemnización cuando el agente ha incumplido antes. Pero en ese caso, el Principal deberá poder demostrarlo cuando el agente lo discuta. Y no siempre será fácil. El Principal ha de aportar pruebas claras y para ello será conveniente recoger información y documentación sobre el incumplimiento con la suficiente y antelación y de importancia suficiente (no suelen aceptarse incumplimientos menores). Por lo tanto, si el Principal desea seguir este camino, es recomendable preparar los argumentos y las pruebas antes de que finalice el contrato. Es muy recomendable, por tanto, ponerse en contacto con un asesor experto cuanto antes: él lo ayudará a minimizar los riesgos.

The procedure to incorporate a foreign owned company in Spain is, in principle, easy and straight forward, however it is necessary to take into account certain new requirements derived from the tax and the anti-money laundering regulations, which could cause long delays in the incorporation process, even to EU and US companies, if they are not well advised and managed from the beginning of the procedure.

The first step consist in collecting information about the foreign shareholder, in order to be able to prove its legal existence and activities: the foreign shareholder(s) will have to grant before a Notary Public in its country of residence a power of attorney authorising somebody in Spain to obtain its tax identification number (“NIE”), and also represent it before the Spanish notary when signing the deed of incorporation. In case the foreign shareholder is an individual person, the NIE should be applied for before the Spanish police or the Spanish Consulate at the country where the investor lives.

If the shareholder is a corporation, apart from the Power of Attorney, it will have to obtain a certificate from its Companies’ Registry or Chamber of Commerce, stating its legal existence and main characteristics. This document is called “good standing certificate” (in the UK and US), “K-bis” (in France), “KvK” (in the Netherlands) or “visura” (in Italy). These two documents, the Power of Attorney mentioned in the above paragraph and the certificate from the Companies’ Registry, will have to be Apostilled or legalized by the correspondent Ministry, and Sworn translated into Spanish. Please note that we use to draft bilingual powers of attorney in order to avoid its sworn translation.

The foreign shareholder will have to prove that its income is obtained from legal activities in order to be able to open a bank account in the name of the new company. The main document to prove this could be the Corporate or the Personal Income Tax return filed in its country of residence, but there could be other means, especially in case of individual persons.

In case of a corporate shareholder, it will be necessary as well to declare, in principle through a public deed granted in Spain, who are the individual persons who, directly or through other companies, will hold more than a 25% interest in the new company to be incorporated. In case nobody holds more than a 25% (i.e. because there are 5 individual shareholders, holding each of them a 20%), it is declared that the effective control of the new company corresponds to its director.

At this stage, it is also necessary to mention that the person(s) who will be the director(s) of the new company, in case they are foreigners, will also need to obtain their personal “NIE”. The NIE should be applied for before the Spanish police (this could be done by a proxy duly authorised though a Power of Attorney granted by the foreign director) or before the Spanish Consulate nearest to the city where the investor lives. In order to be a director of a Spanish company it is not necessary to be a shareholder, nor to have residence and work permit in Spain (provided the foreign director does not live in Spain).

Meanwhile the necessary documents (Powers of Attorney, Companies’ Registry certificate, etc.) are being prepared by the foreign shareholder, the lawyer in Spain will apply for the new company’s name. It is advisable to point out that generic or usual names are not available quite often, therefore it is necessary to think in original names. Three different names could be applied for simultaneously.

The drafting of the company’s Articles of Association or By Laws could be very quick, except if the company is going to have several shareholders and they wish specific clauses. In this case, it is also advisable to draft a Shareholders Agreement. The Shareholders’ Agreement could just contain some basic rules on dedication, compensation, non-competition, etc. and some more sophisticated rules on the sale of shares (tag along and drag along rights). As regards the By-Laws, they should mention the company’s name, its activity or activities, address in Spain –which cannot be just a P.O. Box-, share capital, number of shares and its face value, and starting date for the fiscal year, among other standard clauses.

The management of the company could be organized through a sole director, two directors who could act jointly or separately, and in case there are more than three directors, they should organize themselves through a Board of Directors, being usual in this case to appoint a C.E.O. In order to be a director it is not necessary to be a shareholder. Under Spanish laws, the director(s) could be held liable for some company’s debts under certain circumstances which are legally defined. For this reason, it is necessary that the directors formally accept their appointment (personally appearing before the Notary or through a Power of Attorney).

Before the incorporation, it will be necessary that either the new company’s director (the person to be appointed) or the representative of the corporate shareholder appears personally before the bank where the company will have its first bank account and signs the correspondent documents (KYC regulation). Once the bank account is opened, the shareholder will have to send a bank transfer for the new company’s share capital. In Spain, the minimum share capital for a limited company (S.L.) is Euros 3.000, while for a “Sociedad Anónima” (S.A.) it is Euros 60.000, but only 25% should be paid off at the incorporation moment. It is interesting to note that contributions to the share capital could be made in cash – which is the most common operation, especially at the incorporation – or in kind, with any type of assets: real estate, machinery, goods, trademarks, etc. The money for the share capital should be sent to the new company’s bank account from an account owned by the shareholder (or from each account owned by each shareholder, should they be several ones), not by any other different person. Once the Spanish bank receives the transfer, it will issue a certificate, which is necessary in order to incorporate the company.

Once all the documents are ready, it is possible within very few days (almost immediately) to make the appointment with the Notary and sign the public deed of incorporation. This can be done at any notary in Spain, not being necessary that the notary practises at the same city where the company will have its corporate address. In order to summarize, the list of the necessary documents is:

  • Power(s) of Attorney granted by the foreign shareholder(s), apostilled and sworn translated.
  • Certificate regarding the legal existence of the foreign shareholder (only if it is a corporation), apostilled and sworn translated.
  • Statement on who are the last individual shareholders holding more than 25% interest in the new company, directly or indirectly (only in case of corporate shareholders).
  • NIE of the foreign shareholder(s).
  • NIE of the new company’s director(s), should they be a foreigners.
  • Certificate for the new company’s name.
  • Articles of Association.
  • Bank certificate regarding the contribution to the new company’s share capital.

The deed of incorporation is signed by the proxy (or the individual shareholder(s), should they prefer to personally appear before the notary) before the chosen public notary, being also necessary to sign an official form to report the foreign investment to a public registry depending on the Spanish Ministry of Finance.

Once the deed of incorporation is signed, the next steps consist in applying before the tax authorities to obtain the new company’s tax number (NIF / CIF) and filing the deed of incorporation before the Companies’ Registry. Some banks do allow new companies to operate once they have the NIF (which could be 2-3 days after the incorporation), while others request to wait until the deed of incorporation is filed at the Companies’ Registry (2-3 weeks).

An estimation of the necessary time to complete all the procedure is 30-45 days, but of course the main delay is related to speed of the foreign investor in obtaining the necessary documents.

Please note that if you wish to incorporate a foreign owned company in Spain it is always necessary to seek specific professional advice, as each case is different and regulations and the application of such regulations vary from time to time. The above article just explains the main steps and requirements for the incorporation of a company.

Arbitration is a well-known system for dispute resolutions, and works as an alternative to judicial procedures. Parties are free to choose this system and to submit their conflicts to specific arbitrators or institutions.

It is usually considered that arbitration is a good way to solve conflicts but preferable to those arisen between big corporations or involving important amounts of money. Although this assumption is generally accepted, there is an alternative for distribution disputes suitable for smaller companies and cases with lower amounts claimed.

And here is the essential question: why a manufacturer/franchisor or a distributor/agent/franchisee should choose a specialized arbitration for their agreements instead of a more general one or, even, a judicial procedure? The answer seems clear: an arbitrator with knowledge not only in procedural questions but in substantive matters will be able to better understand the conflict between the parties and, therefore, to grant a better award. Take into account that, for instance in my Country, Spain, a Judge of First instance can deal in the same day with a distribution contract, a construction case, a conflict between heirs, and a discussion in a community of owners. All of this requires the analysis of different facts and completely different legislations and it is true that specific commercial problems do not usually have judges experts in international trading. But, how to choose a good specialized arbitrator? And, how to choose the arbitral procedure and the institution in terms of organization, neutrality, costs and time?

The IDArb was created in 2016 by the International Distribution Institute (www.idiproject.com) in collaboration with the Chambre de Commerce d’Industries et de Services de Genève (CCIG www.ccig.ch) and the Swiss Chambers’ Arbitration Institution (SCAI www.swissarbitration.org) and offers to the distribution sector (distribution, agency, franchising, selective distribution) a specialized, expedited and affordable arbitration procedure, not only for big international corporations but also for smaller cases. In fact, the expedited procedure is particularly foreseen for amounts below one million CHF (approx. 880.000 €).

The objectives and main characteristics of IDArb which make it suitable for all the distribution disputes are:

  1. A list of specialized arbitrators experts in this particular field is available for ad hoc or institutional arbitration and IDArb is able to assist the parties to choose one of them.

Specialized arbitrators from different countries and legal cultures have been appointed by a Selecting Committee reviewing their experience in one or more fields of distribution law. Therefore, parties can trust that the arbitrator will have concrete skills in the business with an in-depth understanding of the disputed issues. This is not a general knowledge on commercial law, but a concrete one on distribution, expressly verified by the Committee. Parties can even examine some examples of cases in which every arbitrator has been involved in.

  1. In order to maintain its high quality, the IDArb organizes training seminars for its appointed arbitrators. In these seminars, they are able to discuss about the general management of the arbitration, the procedural aspects and how to solve possible incidents in collaboration with the Institutions and their Rules. This will make all the proceedings more manageable and the possible difficulties more easily solved. Last seminar took place in Geneva in November 8, 2018 and participants have discussed, amongst other subjects, on evidences, witnesses and document production.
  2. The expedited arbitration procedure permits the parties to have a tailored procedure managed by SCAI under the Swiss Rules of International Arbitration, specially adapted for small disputes in the field of distribution.
  3. Time is also an essential element: the award in the expedited procedure will be issued in a maximum term of six months (only exceptional circumstances permit the Court to extend such time-limit), and, if parties agree, it can be decided only on documentary evidence.
  4. Costs are reasonable and known in advance.
  5. And, as final but important remark, IDArb has also adopted some recommendations where, upon request of the parties, mediation is favoured, the arbitrator my consider giving a preliminary non-binding and provisional assessment of the dispute and should have a pro-active position in order to facilitate an amicable settlement.

Spanish Law on Entrepreneurship (Law 14/2013) has approved new cases where foreigners from non-European Union countries can obtain the residence permit in Spain through the execution of investments:

  1. Investments in real estate for an amount equal or higher than € 500.000 (Five Hundred Thousand Euros). The investment can be made in one or more properties, but at least € 500.000 should be free of encumbrances (mortgage, i.e.). If the price is higher than € 500.000, the rest of the amount could be paid through mortgage.
  2. Financial investments for a value equal or higher than 1 million Euros. This type of investment includes listed and non-listed shares, in case of non-listed shares they could be from already operating companies or newly incorporated ones, investment funds, and deposits in Spanish banks.
  3. Investment in Spanish sovereign debt for an amount equal or higher than 2 million Euros.
  4. To carry on a business project in Spain that was considered as being of public interest. To this purpose, one of these conditions should be met: creation of jobs, execution of an investment that has a positive impact in the region where it is located, or a relevant contribution to scientific or technological innovation.

The visa granted through the execution of these investments is valid during at least one year, and in order to obtain the residence permit some other requirements should be met:

  • to not stay previously in Spain in an illegal situation,
  • to have more than 18 years,
  • to not have criminal records,
  • to have a health insurance (hired from a company operating in Spain)
  • to have financial means for the stay in Spain (i.e. a bank deposit, or income from leases or dividends. Payroll does not qualify for this purpose).

If the above requirements are met, a two years residence and work permit could be granted. After this term, the residence permit can be extended for successive five years periods. The investments should be kept during all these periods. This permit does not request the foreigner to live in Spain for more than six months; therefore it will not be cancelled if the foreigner lives in another country.

The residence and work permit is granted to the individual who executes the investment. If he/she is married and/or has children or ancestors who depend on the investor, it is possible to apply for their visa at the same time or later on. It is possible to execute the investment through a company owned by the investor, provided it is not a company domiciled in a tax heaven country.

The Spanish visa allows free movements within the EU countries (Schengen space). The valid travelling document is the passport.

Foreigners who wish to carry on a self-employment project in Spain could obtain the work and residence permit, but through a different procedure than the above mentioned, and these cases the minimum investment amount is lower.

Investment in real estate

The investment in real estate could be in residential, commercial or industrial properties. The property could be leased to third parties before or after the acquisition, or used by the investor. For ambitious investors, there are several possibilities to structure the investment in buildings and apartments and to a higher return of the investment.

There are some costs related to the acquisition of real estate: the acquisition itself is taxed by Transfer Tax at rates ranging from 6 to 10% on the acquisition price, depending on each Spanish region where the property is located, to be paid by the buyer. Besides, the buyer should pay the Notary Public and Property Registrar’s fees, which approximately amount 3% of the acquisition price (the addition of both of them). These amounts are paid once, when the property is acquired.

The annual costs related to the ownership of real estate in Spain are the following ones:

  • IBI or local property tax, whose amount is calculated based on the value and location of the property.
  • “Community expenses”, that is those expenses related to the maintenance of the common areas of the building where the property is located: cleaning, lighting, etc.
  • In some cases, also a small tax for garbage should be paid to the Town Council.
  • Owners should file the Spanish Personal Income Tax Return, and pay a percentage between 1,1% and 2% of the property’s “cadastral value” (official value), in case the property is not leased to a third party. If the property is leased, the owner should also file the Personal Income Tax Return based on the amounts obtained from the lease.

Besides, owners should also pay the expenses related to their property: ordinary maintenance expenses, insurance, electricity and water, etc.

In Spain, the property right is considered as a full right, which implies that the owner can use the property by himself, can lease it to third parties, can mortgage or encumber it, can sell or gift it to any third party and can pass it to his heirs through a will.

The only limits to the use of the property by its owner or the persons appointed by him are those established by the civic rules regarding noises, pets, exterior image of the property, etc.

Regarding the lease of the property, in principle it is free, and the rights and obligations of landlord and tenant are those provided by the private lease agreement entered between both parties and the Spanish Urban Leases Law (Ley de Arrendamientos Urbanos). However, nowadays many Spanish cities (and specially Barcelona) have approved strong limits to the so called touristic leases, which are the short term (days or weeks) leases, and request a special license.

It is important to point out that foreigners who become residents in Spain can grant their will according to Spanish inheritance laws (according to EU Regulation 650/2012), which slightly vary depending on each Spanish region. In Catalonia, for example, the testator can freely appoint who will be his heirs.

Financial investment

Financial investments can be executed through different types of targets, being always the minimum amount 1 million Euros:

  • Shares of companies listed in the Spanish Stock Market.
  • Shares of non-listed companies, which could be already operating companies or newly incorporated ones. In both cases, there are no limits as regards the percentage of shares that can be owned by foreigners, and the activity sectors restricted to non EU foreign investment are very few (gambling, defense, aviation, TV and radio). Foreigners can be appointed Directors of Spanish companies with the only requirement of having previously obtained the so called “N.I.E.”, which is the Spanish identification number for foreigners.

In case of a newly incorporated company, the € 1 million requested as investment would constitute the company’s share capital, and can be used for the startup of the company’s activities: for example, acquisition of goods, payment of salaries and rentals, payment of purveyors and subcontractors, etc.

Spanish companies have access to all European markets and have a privileged position for trading with Latin American countries.

  • Investment funds: Spanish financial entities offer a very wide range of investment funds, from very conservative to high risk.

Deposit in a bank

The main advantage of a real estate investment compared to a financial investment is that the requested amount is only € 500.000 for real estate, while for a financial investment is twice this amount. During the past years since the Law on Entrepreneurship became in force, investment in real estate has been the most popular way for obtaining the residence permit in Spain, probably because at that time (2013-2016) real estate market prices were quite low due to the crash in 2008.

However, the process to acquire a property in Spain is not so easy compared to the acquisition of a share in an investment fund or making a bank deposit: the investor has to choose the property, which normally requires one or two visits to Spain, the price and sale conditions have to negotiated and drafted, the purchase deed has to be signed before a Notary Public (by the investor or his proxy), there are taxes and expenses related to the acquisition, and once the property is acquired, it is necessary to pay ongoing expenses and taxes, and maintain the property in good condition.

Compared to this, the investment in funds or making a bank deposit only requires one visit to the bank by the investor, in order to sign the correspondent documents.  There are not related taxes or expenses, and the liquidity of the investment is  full  (that is,  the investment can be sold at any moment,  quite probably at the same or  at a higher price, but this is not guaranteed for real estate investments).

How to open and operate a bank account in Spain

In Spain, banks apply the regulations regarding anti-money laundering, which include the KYC (Know Your Client) rules and the obligation to prove the legal origin of the funds. The KYC rules imply the need for the investor to appear personally before the bank at least once, previously to operating the bank account. The legal origin of the funds can be proved through different means:

  • In case of employees, through the payroll splits, or a certificate issued by the employer, or the investor’s personal income tax return.
  • In case of self-employed individuals, through their personal income tax return, or another type of documents proving their professional activity.
  • In case of company owners, through the company’s financial statements.
  • If the investor has obtained the funds necessary for the investment through personal loans, the loan agreements should be provided, plus the documents proving the legal origin of the funds provided by the lenders.
  • Other documents, for example, regarding dividends or income from the lease of properties owned by the investor could be provided.

All documents should be legalized by a Notary Public or the Spanish Consulate, and sworn translated into Spanish.

Please note that this article is aimed to provide a general overview on Spanish rules regarding the above matters, but it does not constitute any kind of comprehensive information on them, and in any case specific legal advice should be sought prior to taking any decision.

En todas las operaciones de M&A una de las cuestiones que merece un capítulo especial en cuanto a su análisis, determinación y negociación son las contingencias fiscales. Aunque las partes puedan estar más o menos de acuerdo en el importe de dichas contingencias, negociar las posibles garantías que ha de otorgar el vendedor a fin de proteger al comprador de una posible reclamación por parte de las autoridades fiscales, el plazo de duración de las mismas, así como acordar los mecanismos de comunicación entre las partes (comprador y vendedor) y de defensa legal en caso de que se produzca tal reclamación, requiere ingentes esfuerzos negociadores.

Cuando la operación de adquisición no se formaliza mediante la compra de las acciones o participaciones sociales de la sociedad que es objeto de adquisición (“shares deal”), sino mediante de la compra de los activos que forman una unidad productiva (“assets deal”), la Ley General Tributaria (LGT) española establece un mecanismo que supone una excepción al principio, establecido por el artículo 42 de la misma Ley, consistente en establecer la responsabilidad solidaria del adquirente de una unidad productiva por las deudas tributarias contraídas por el anterior titular (“responsabilidad por sucesión de empresa”). Esto es, en principio, de acuerdo con el artículo 42 de la LGT, “serán responsables solidarios de la deuda tributaria las personas o entidades que sucedan por cualquier concepto en la titularidad o ejercicio de explotaciones o actividades económicas, por las obligaciones tributarias contraídas del anterior titular y derivadas de su ejercicio”.

Sin embargo, esta responsabilidad solidaria del adquirente se puede limitar mediante la solicitud a las autoridades fiscales del certificado que regula el artículo 175.2 de la LGT. El certificado debe solicitarlo el que pretende adquirir la titularidad de una explotación económica, de conformidad con el titular actual, y la responsabilidad del adquirente queda limitada a las deudas, sanciones y responsabilidades mencionadas en la certificación. Si la certificación se expide sin mencionar importe alguno, o bien la Administración no la expide en el plazo de tres meses desde la solicitud, el solicitante quedará exento de la responsabilidad fiscal solidaria por sucesión de empresa.

La certificación del artículo 175.2 de la LGT puede incluir las deudas por retenciones a cuenta del IRPF, las cuales en el caso de empresas con una gran número de trabajadores pueden ser de un importe elevado, sin embargo la responsabilidad solidaria del adquirente por sueldos, salarios y cuotas de seguridad social no puede limitarse mediante la solicitud de este certificado, sino que siempre sería solidaria con el transmitente de la unidad de negocio.

La solicitud del certificado debe realizarse antes de formalizar la adquisición de la unidad productiva, aunque su emisión tenga lugar después de dicha adquisición (por supuesto, la posición prudente es no cerrar la adquisición hasta no disponer del certificado). La duración de este certificado es de un año, para el caso de obligaciones fiscales periódicas (por ejemplo, Impuesto sobre el Valor Añadido, Impuesto de Sociedades, retenciones a cuenta de Impuesto sobre la Renta de las Personas Físicas), y de tres meses para el caso de obligaciones fiscales no periódicas.

Es muy importante solicitar el certificado correcto (“a efectos de sucesión de empresa de acuerdo con lo establecido en el art. 175.2 de la LGT”), y no confundirlo por ejemplo con el certificado referente a estar al corriente de las obligaciones tributarias, pues abundan en la jurisprudencia los casos de adquirentes de empresas que, habiendo solicitado un certificado erróneo a las autoridades fiscales y habiendo obtenido un certificado que no mostraba responsabilidades fiscales, posteriormente han sido condenados a pagar, en calidad de responsables solidarios, las deudas fiscales de la empresa transmitente.

The remuneration of directors is an intricate issue and one that deserves adequate treatment. Recently there has been a turn that deserves special attention.

In its judgment of February 26, 2018, the Supreme Court modified the interpretation given by most experts and authorities and by the Directorate-General of Registries and the Notarial Profession in its decision dated June 17, 2016, ratified by the Barcelona Provincial Appellate Court in its decision 295/2017 of June 30, 2017, on the regulation of executive directors’ compensation.

In its judgment, the Supreme Court held that the compensation of directors “in their capacity as such” includes the compensation of both deliberative and executive functions and that, accordingly, approval of the compensation of directors who discharge executive functions is subject not only to article 249 of the Corporate Enterprises Law (i.e., the requirement for there to be a contract approved by a two-thirds majority of the board) but also to article 217. Consequently:

  1. the bylaws must stipulate the compensation scheme for executive functions (although no reference is made to amount); and
  2. the amount payable for the discharge of executive functions must be included in the maximum annual amount stipulated by the shareholders’ meeting.

The judgment was handed down in connection with a limited liability company and, furthermore, some of its considerations refer specifically to unlisted companies, although it does not clearly and indubitably exclude listed companies (which are, however, subject to specific rules under the compensation policy).

The publication of this Supreme Court judgment gives rise to the need for an individualized analysis of each specific case, so that the appropriate measures can be taken to enable companies to bring their policies into line with its conclusions.

The author of this post is Pablo Vinageras.

Una vez convencidos de la utilidad de la mediación como método de solucionar conflictos entre franquiciador y franquiciado y tomada la decisión de incluir en los contratos una cláusula que la prevea, el último paso sería qué elementos debemos tener en cuenta a la hora de redactarla.

  1. La negociación previa. Parece recomendable que ambas partes se concedan la posibilidad de intentar resolver el problema con una negociación formal previa. La mediación no excluye el intento previo llevado a cabo por los interesados o sus abogados, no obstante, parece recomendable que se prevea contractualmente un plazo adecuado a las circunstancias. La experiencia demuestra que alargar demasiado esta fase puede producir como resultado que el conflicto se vaya agravando y resulte más complicado incluso acercarse a la mediación.
  2. La cláusula puede igualmente prever el lugar en el que la mediación se llevará a cabo. De nuevo en este punto las partes son libres. Es conveniente que éste sea preciso indicando la ciudad.
  3. El idioma en el que va a desarrollarse la mediación es facultad de las partes. No habrá dificultad en mediaciones en las que ambas partes usen el mismo idioma, pero es muy conveniente en contratos con partes que los tengan diferentes, o que pertenezcan a regiones o países con diferentes lenguas cooficiales. La redacción o firma del contrato en un idioma concreto no presupone que ese haya de ser el idioma de la mediación. Es un elemento a tener muy en cuenta también a la hora de solicitar un mediador que pueda usar dicho idioma en la institución de mediación elegida.
  4. El procedimiento puede decidirse igualmente por las partes. En particular, el número de sesiones, la duración máxima prevista, la participación de asesores, etc. Téngase en cuenta que la mayor o menor regulación permitirá evitar futuros conflictos al respecto, aunque también supondrá enmarcar más la libertad de las partes que, no obstante, permanecerán libres para modificar de común acuerdo lo pactado.
  5. El plazo de duración de la mediación puede igualmente contemplarse. Ello permitiría, por ejemplo, evitar que la mediación se alargue únicamente con fines estratégicos meramente procesales o para recabar información de la otra parte antes de iniciar un procedimiento, etc. Los mediadores profesionales, no obstante, son capaces de identificar estas maniobras teniendo la facultad también de poner ellos mismos fin a la mediación en caso de constatarlas.
  6. Elegir al mediador o a la institución de mediación es una elección importante. Las partes pueden ponerse de acuerdo sobre quién será su mediador, indicar en el contrato los elementos para elegirlo, o someterse directamente a una Institución de Mediación para que sea ésta quien lo designe conforme a sus propias reglas. Estas decisiones pueden ser alternativas (es decir, que las partes se pongan de acuerdo sobre el mediador y, en caso de falta de acuerdo, someterse a una institución que lo nombre), o pueden ser únicas. La designación de una Institución requiere que tenga la suficiente garantía de estabilidad (evitar designar instituciones de corta trayectoria o sin demasiada garantía de futuro), con un panel suficiente de mediadores en función de las características de la mediación (idioma, competencia, experiencia) y que permita la flexibilidad necesaria para su funcionamiento.
  7. Por último, es conveniente que la cláusula incluya una vía alternativa en caso de que la mediación no llegue a buen puerto bien porque las partes no llegan a un acuerdo, bien porque se retiran de la mediación. Recordemos que la mediación no cierra las puertas a que el conflicto sea resuelto mediante el recurso a la jurisdicción ordinaria o al arbitraje. Y en materia de arbitraje especializado en contratos de distribución el IDArb (https://www.idiproject.com/content/idarb-idi-arbitration-project) es una excelente opción.

Mercedes Clavell

Áreas de práctica

  • Franquicia
  • Inmigración
  • Comercio internacional
  • Fusiones y adquisiciones
  • Derecho Inmobiliario
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    Spain – Change to the legal treatment of Executive Directors’ compensation

    7 de junio de 2018

    • España
    • Derecho Societario

    Constituye el objeto de la presente Nota el análisis de las nuevas obligaciones que el RDL 6/2019 establece, en materia de igualdad, a cargo de todo tipo de Empresas (con independencia de cuál sea el número de trabajadores) y, concretamente, para aquéllas empresa que cuenten con 50 o más trabajadores.

    La principal novedad que encontramos a este respecto reside en la obligatoriedad, para empresas que cuenten con 50 o más trabajadores, de implantar un plan de igualdad, de conformidad con lo establecido en los artículos 45 y siguientes de la LOIEMH.

    En cuanto al contenido y las condiciones de implantación del Plan de Igualdad en las Empresas, encontramos las siguientes novedades:

    • Se enumeran taxativamente las materias y contenido mínimo que debe recoger todo plan de igualdad.
    • Se introduce, como materia que debe contener el Plan, un análisis sobre la Infrarrepresentación femenina en la Empresa.
    • El diagnóstico que debe realizar la empresa con carácter previo a la elaboración del Plan de Igualdad debe ser negociado con la representación legal de los trabajadores.
    • Se crea un Registro de Planes de Igualdad de las Empresas, en el que deben inscribirse todos los planes de igualdad implantados en las Empresas, con independencia del número de trabajadores que tengan.

    Por otro lado, el RDL 6/2019 da una nueva redacción al artículo 28 del Estatuto de los Trabajadores, que recoge la obligación de la Empresa de cumplir con la exigencia de igualdad de salario entre hombres y mujeres, estableciendo una serie de medidas y obligaciones a cargo de las Empresas, al objeto de procurar el efectivo cumplimiento de la igualdad salarial.

    En concreto, estas nuevas medidas adoptadas en el artículo 28 del ET son las siguientes:

    • Se especifica lo que ha de ser considerado como “trabajo de igual valor”, a fin de facilitar un único concepto y eliminar cualquier duda al respecto.
    • Las Empresas tienen la obligación de llevar un Registro Salarial, con los valores medios de los salarios, los complementos salariales y las percepciones extrasalariales de su plantilla, diferenciados por sexo y distribuidos por grupos profesionales, categorías profesionales o puestos de trabajo iguales o de igual valor.
    • El Registro Salarial deberá ser accesible a la representación legal de los trabajadores.
    • En las empresas con 50 o más trabajadores en las que el promedio de las retribuciones a los trabajadores de un sexo sea superior a los del otro en un 25% o más, deberá incluirse en el Registro Salarial una justificación de dicha diferencia, debiendo acreditar que la misma se debe a motivos ajenos al sexo de los trabajadores.

    El incumplimiento, por parte de las Empresas, de las obligaciones en materia de Igualdad y, en concreto, aquéllas relativas al Plan de Igualdad e Igualdad salarial entre hombres y mujeres, podrán comportar la imposición de importantes sanciones por parte de la Inspección de Trabajo y la TGSS.

    La Ley española del Contrato de Agencia y la Directiva europea prevén para el agente — salvo en ciertos casos —, una indemnización por clientela cuando la relación se termina, en función de la retribución percibida por el Agente durante la vida del contrato. Es, pues, una carga que en general todo empresario tendrá pendiente al terminar el contrato.

    La tentación es intentar librarse de su pago y para ello nos consultan con frecuencia acerca de estrategias o tácticas. A continuación intento resumir algunos de ellos indicando las posibilidades de éxito (o no) que pueden tener, tanto en la fase de negociación/redacción del contrato, como en la fase de resolución.

    1. Cambiar el nombre del contrato

    La primera idea es hacer un contrato “parecido” al de agencia o llamarlo de otra forma (de servicios, de intermediación, de representación…). Ahora bien, el cambio de nombre no tiene ninguna incidencia ya que los contratos “son lo que son” y no lo que las partes los llaman. Así que si hay una intermediación continuada a cambio de una remuneración, hay muchas posibilidades de que un juez lo considere como contrato de agencia, lo llamemos como lo llamemos. Y ello con todas sus consecuencias.

    1. Limitar la indemnización en el contrato

    Otra tentación en la fase de redacción del contrato es acordar una indemnización menor que el máximo previsto legalmente, prever su pago por adelantado mientras dura el contrato, o directamente eliminarla.

    Ninguna de estas soluciones sería válida si intentan disminuir la posibilidad de que el Agente perciba el máximo legal, o por motivos no previstos en la Ley ni la Directiva. La ley manda.

    1. Encadenar varios contratos de agencia

    Dado que la indemnización se calcula según las remuneraciones de los últimos cinco años y de la clientela creada, la tentación es encadenar varios contratos de menor duración para considerar solo los clientes del último período.

    Esto no necesariamente será una buena idea si el último año, por ejemplo, se crearon muchos clientes, pero, además puede resultar inútil porque la ley española y la Directiva prevén que el contrato de duración determinada que continúa ejecutándose se transforma en indefinido. El juez podrá considerar todos los contratos encadenados como uno único.

    Para que esta estrategia tenga posibilidad de ser útil, habría que liquidar cada contrato sustituido, declarar que “nada tienen que reclamarse las partes” y que los sucesivos contratos estén suficientemente separados y tengan diferente entidad, redacción, extensión, etc. Si se plantea bien, podría ser una vía para liberarse de una mayor indemnización por clientela: un pacto bien redactado por el que el agente declara recibida la indemnización, y que el siguiente contrato no reitere miméticamente y de forma inmediata el contenido del anterior.

    1. Someter el contrato a un derecho extranjero

    En contratos internacionales la tentación es someter el contrato a un derecho que no sea el español, en particular, cuando el Principal es de dicha nacionalidad.

    La idea puede ser buena o mala según el derecho elegido y siempre que guarde alguna relación con el negocio. Como se sabe, en la UE la Directiva establece unas condiciones mínimas que las legislaciones nacionales deben respetar. Pero nada impide a estas leyes prever condiciones más ventajosas para los agentes. Esto hace que, por ejemplo, elegir el derecho francés sería, en general, una idea mala para el Principal porque la indemnización en ese país suele ser mayor.

    En algunos casos, la elección de un derecho de fuera de la Unión Europea que no prevea la indemnización por clientela cuando el agente es europeo ha sido rechazada por considerar que se está vulnerando el derecho mínimo reconocido en la Directiva.

    1. Someter el contrato a reglas y jueces no nacionales

    Otra posibilidad menos frecuente es la de someter el contrato a normas no de un país, sino a normas mercantiles generales (Lex Mercatoria) y acordar una indemnización menor.

    Esto no es muy frecuente, y puede no resultar muy útil según quien haya de interpretar el contrato y dónde resida el agente. Si, por ejemplo, el agente reside en España y quien va a interpretar el contrato es un juez español, con mucha probabilidad va a interpretar el contrato según sus propias normas sin verse vinculado por lo que prevea el contrato. De nada habrá servido.

    1. Someter el contrato a arbitraje

    Diferente será la cuestión si el contrato está sometido a arbitraje. En este caso los árbitros, normalmente, no están sometidos necesariamente a interpretar un contrato según las normas nacionales propias si el contrato está sometido a otras diferentes. En este caso sí que cabría la posibilidad de que se sintieran más libres de considerar exclusivamente el contrato, sobre todo cuando el agente no fuera de su nacionalidad, desconociera cuál es el derecho del país del agente y no se viera vinculado por las garantías previstas para su protección.

    1. La mediación en el contrato de agencia

    La mediación es una forma alternativa de solucionar un conflicto que puede usarse también en contratos de agencia. Con ella son las partes, ayudadas por el mediador, quienes resolverían la controversia.

    En este caso, dado que el mediador no es quien decide, es posible que las partes lleguen libremente a un acuerdo por el que el agente se conforme con una indemnización menor si, por ejemplo, se le confieren otras ventajas, reconocimientos, si llega al convencimiento de tener menor derecho, dificultad de prueba, si prefiere ahorrarse otros costes, tiempo, energías para su nuevo negocio, etc.

    Los mediadores velan por el equilibrio de las partes, pero nada impide que ambas concluyan una indemnización menor al máximo legal (tras la conclusión del contrato es posible negociar una inferior a la legal). Prever la mediación en el contrato de agencia, es, por lo tanto, una buena idea para poder abordar y negociar mejor esta indemnización por clientela. Además, prever la mediación no limita los derechos de ninguna de las partes para retirarse y proseguir por la vía judicial exigiendo el máximo legal.

    1. Imputar al agente un incumplimiento previo

    Cuando el contrato termina, esta es, sin duda, la causa que se intenta con más frecuencia: cuando se quiere resolver el contrato, el Principal intenta argumentar que el Agente lo ha incumplido previamente y que por eso se está resolviendo el contrato.

    La ley y la Directiva exceptúan el pago de la indemnización cuando el agente ha incumplido antes. Pero en ese caso, el Principal deberá poder demostrarlo cuando el agente lo discuta. Y no siempre será fácil. El Principal ha de aportar pruebas claras y para ello será conveniente recoger información y documentación sobre el incumplimiento con la suficiente y antelación y de importancia suficiente (no suelen aceptarse incumplimientos menores). Por lo tanto, si el Principal desea seguir este camino, es recomendable preparar los argumentos y las pruebas antes de que finalice el contrato. Es muy recomendable, por tanto, ponerse en contacto con un asesor experto cuanto antes: él lo ayudará a minimizar los riesgos.

    The procedure to incorporate a foreign owned company in Spain is, in principle, easy and straight forward, however it is necessary to take into account certain new requirements derived from the tax and the anti-money laundering regulations, which could cause long delays in the incorporation process, even to EU and US companies, if they are not well advised and managed from the beginning of the procedure.

    The first step consist in collecting information about the foreign shareholder, in order to be able to prove its legal existence and activities: the foreign shareholder(s) will have to grant before a Notary Public in its country of residence a power of attorney authorising somebody in Spain to obtain its tax identification number (“NIE”), and also represent it before the Spanish notary when signing the deed of incorporation. In case the foreign shareholder is an individual person, the NIE should be applied for before the Spanish police or the Spanish Consulate at the country where the investor lives.

    If the shareholder is a corporation, apart from the Power of Attorney, it will have to obtain a certificate from its Companies’ Registry or Chamber of Commerce, stating its legal existence and main characteristics. This document is called “good standing certificate” (in the UK and US), “K-bis” (in France), “KvK” (in the Netherlands) or “visura” (in Italy). These two documents, the Power of Attorney mentioned in the above paragraph and the certificate from the Companies’ Registry, will have to be Apostilled or legalized by the correspondent Ministry, and Sworn translated into Spanish. Please note that we use to draft bilingual powers of attorney in order to avoid its sworn translation.

    The foreign shareholder will have to prove that its income is obtained from legal activities in order to be able to open a bank account in the name of the new company. The main document to prove this could be the Corporate or the Personal Income Tax return filed in its country of residence, but there could be other means, especially in case of individual persons.

    In case of a corporate shareholder, it will be necessary as well to declare, in principle through a public deed granted in Spain, who are the individual persons who, directly or through other companies, will hold more than a 25% interest in the new company to be incorporated. In case nobody holds more than a 25% (i.e. because there are 5 individual shareholders, holding each of them a 20%), it is declared that the effective control of the new company corresponds to its director.

    At this stage, it is also necessary to mention that the person(s) who will be the director(s) of the new company, in case they are foreigners, will also need to obtain their personal “NIE”. The NIE should be applied for before the Spanish police (this could be done by a proxy duly authorised though a Power of Attorney granted by the foreign director) or before the Spanish Consulate nearest to the city where the investor lives. In order to be a director of a Spanish company it is not necessary to be a shareholder, nor to have residence and work permit in Spain (provided the foreign director does not live in Spain).

    Meanwhile the necessary documents (Powers of Attorney, Companies’ Registry certificate, etc.) are being prepared by the foreign shareholder, the lawyer in Spain will apply for the new company’s name. It is advisable to point out that generic or usual names are not available quite often, therefore it is necessary to think in original names. Three different names could be applied for simultaneously.

    The drafting of the company’s Articles of Association or By Laws could be very quick, except if the company is going to have several shareholders and they wish specific clauses. In this case, it is also advisable to draft a Shareholders Agreement. The Shareholders’ Agreement could just contain some basic rules on dedication, compensation, non-competition, etc. and some more sophisticated rules on the sale of shares (tag along and drag along rights). As regards the By-Laws, they should mention the company’s name, its activity or activities, address in Spain –which cannot be just a P.O. Box-, share capital, number of shares and its face value, and starting date for the fiscal year, among other standard clauses.

    The management of the company could be organized through a sole director, two directors who could act jointly or separately, and in case there are more than three directors, they should organize themselves through a Board of Directors, being usual in this case to appoint a C.E.O. In order to be a director it is not necessary to be a shareholder. Under Spanish laws, the director(s) could be held liable for some company’s debts under certain circumstances which are legally defined. For this reason, it is necessary that the directors formally accept their appointment (personally appearing before the Notary or through a Power of Attorney).

    Before the incorporation, it will be necessary that either the new company’s director (the person to be appointed) or the representative of the corporate shareholder appears personally before the bank where the company will have its first bank account and signs the correspondent documents (KYC regulation). Once the bank account is opened, the shareholder will have to send a bank transfer for the new company’s share capital. In Spain, the minimum share capital for a limited company (S.L.) is Euros 3.000, while for a “Sociedad Anónima” (S.A.) it is Euros 60.000, but only 25% should be paid off at the incorporation moment. It is interesting to note that contributions to the share capital could be made in cash – which is the most common operation, especially at the incorporation – or in kind, with any type of assets: real estate, machinery, goods, trademarks, etc. The money for the share capital should be sent to the new company’s bank account from an account owned by the shareholder (or from each account owned by each shareholder, should they be several ones), not by any other different person. Once the Spanish bank receives the transfer, it will issue a certificate, which is necessary in order to incorporate the company.

    Once all the documents are ready, it is possible within very few days (almost immediately) to make the appointment with the Notary and sign the public deed of incorporation. This can be done at any notary in Spain, not being necessary that the notary practises at the same city where the company will have its corporate address. In order to summarize, the list of the necessary documents is:

    • Power(s) of Attorney granted by the foreign shareholder(s), apostilled and sworn translated.
    • Certificate regarding the legal existence of the foreign shareholder (only if it is a corporation), apostilled and sworn translated.
    • Statement on who are the last individual shareholders holding more than 25% interest in the new company, directly or indirectly (only in case of corporate shareholders).
    • NIE of the foreign shareholder(s).
    • NIE of the new company’s director(s), should they be a foreigners.
    • Certificate for the new company’s name.
    • Articles of Association.
    • Bank certificate regarding the contribution to the new company’s share capital.

    The deed of incorporation is signed by the proxy (or the individual shareholder(s), should they prefer to personally appear before the notary) before the chosen public notary, being also necessary to sign an official form to report the foreign investment to a public registry depending on the Spanish Ministry of Finance.

    Once the deed of incorporation is signed, the next steps consist in applying before the tax authorities to obtain the new company’s tax number (NIF / CIF) and filing the deed of incorporation before the Companies’ Registry. Some banks do allow new companies to operate once they have the NIF (which could be 2-3 days after the incorporation), while others request to wait until the deed of incorporation is filed at the Companies’ Registry (2-3 weeks).

    An estimation of the necessary time to complete all the procedure is 30-45 days, but of course the main delay is related to speed of the foreign investor in obtaining the necessary documents.

    Please note that if you wish to incorporate a foreign owned company in Spain it is always necessary to seek specific professional advice, as each case is different and regulations and the application of such regulations vary from time to time. The above article just explains the main steps and requirements for the incorporation of a company.

    Arbitration is a well-known system for dispute resolutions, and works as an alternative to judicial procedures. Parties are free to choose this system and to submit their conflicts to specific arbitrators or institutions.

    It is usually considered that arbitration is a good way to solve conflicts but preferable to those arisen between big corporations or involving important amounts of money. Although this assumption is generally accepted, there is an alternative for distribution disputes suitable for smaller companies and cases with lower amounts claimed.

    And here is the essential question: why a manufacturer/franchisor or a distributor/agent/franchisee should choose a specialized arbitration for their agreements instead of a more general one or, even, a judicial procedure? The answer seems clear: an arbitrator with knowledge not only in procedural questions but in substantive matters will be able to better understand the conflict between the parties and, therefore, to grant a better award. Take into account that, for instance in my Country, Spain, a Judge of First instance can deal in the same day with a distribution contract, a construction case, a conflict between heirs, and a discussion in a community of owners. All of this requires the analysis of different facts and completely different legislations and it is true that specific commercial problems do not usually have judges experts in international trading. But, how to choose a good specialized arbitrator? And, how to choose the arbitral procedure and the institution in terms of organization, neutrality, costs and time?

    The IDArb was created in 2016 by the International Distribution Institute (www.idiproject.com) in collaboration with the Chambre de Commerce d’Industries et de Services de Genève (CCIG www.ccig.ch) and the Swiss Chambers’ Arbitration Institution (SCAI www.swissarbitration.org) and offers to the distribution sector (distribution, agency, franchising, selective distribution) a specialized, expedited and affordable arbitration procedure, not only for big international corporations but also for smaller cases. In fact, the expedited procedure is particularly foreseen for amounts below one million CHF (approx. 880.000 €).

    The objectives and main characteristics of IDArb which make it suitable for all the distribution disputes are:

    1. A list of specialized arbitrators experts in this particular field is available for ad hoc or institutional arbitration and IDArb is able to assist the parties to choose one of them.

    Specialized arbitrators from different countries and legal cultures have been appointed by a Selecting Committee reviewing their experience in one or more fields of distribution law. Therefore, parties can trust that the arbitrator will have concrete skills in the business with an in-depth understanding of the disputed issues. This is not a general knowledge on commercial law, but a concrete one on distribution, expressly verified by the Committee. Parties can even examine some examples of cases in which every arbitrator has been involved in.

    1. In order to maintain its high quality, the IDArb organizes training seminars for its appointed arbitrators. In these seminars, they are able to discuss about the general management of the arbitration, the procedural aspects and how to solve possible incidents in collaboration with the Institutions and their Rules. This will make all the proceedings more manageable and the possible difficulties more easily solved. Last seminar took place in Geneva in November 8, 2018 and participants have discussed, amongst other subjects, on evidences, witnesses and document production.
    2. The expedited arbitration procedure permits the parties to have a tailored procedure managed by SCAI under the Swiss Rules of International Arbitration, specially adapted for small disputes in the field of distribution.
    3. Time is also an essential element: the award in the expedited procedure will be issued in a maximum term of six months (only exceptional circumstances permit the Court to extend such time-limit), and, if parties agree, it can be decided only on documentary evidence.
    4. Costs are reasonable and known in advance.
    5. And, as final but important remark, IDArb has also adopted some recommendations where, upon request of the parties, mediation is favoured, the arbitrator my consider giving a preliminary non-binding and provisional assessment of the dispute and should have a pro-active position in order to facilitate an amicable settlement.

    Spanish Law on Entrepreneurship (Law 14/2013) has approved new cases where foreigners from non-European Union countries can obtain the residence permit in Spain through the execution of investments:

    1. Investments in real estate for an amount equal or higher than € 500.000 (Five Hundred Thousand Euros). The investment can be made in one or more properties, but at least € 500.000 should be free of encumbrances (mortgage, i.e.). If the price is higher than € 500.000, the rest of the amount could be paid through mortgage.
    2. Financial investments for a value equal or higher than 1 million Euros. This type of investment includes listed and non-listed shares, in case of non-listed shares they could be from already operating companies or newly incorporated ones, investment funds, and deposits in Spanish banks.
    3. Investment in Spanish sovereign debt for an amount equal or higher than 2 million Euros.
    4. To carry on a business project in Spain that was considered as being of public interest. To this purpose, one of these conditions should be met: creation of jobs, execution of an investment that has a positive impact in the region where it is located, or a relevant contribution to scientific or technological innovation.

    The visa granted through the execution of these investments is valid during at least one year, and in order to obtain the residence permit some other requirements should be met:

    • to not stay previously in Spain in an illegal situation,
    • to have more than 18 years,
    • to not have criminal records,
    • to have a health insurance (hired from a company operating in Spain)
    • to have financial means for the stay in Spain (i.e. a bank deposit, or income from leases or dividends. Payroll does not qualify for this purpose).

    If the above requirements are met, a two years residence and work permit could be granted. After this term, the residence permit can be extended for successive five years periods. The investments should be kept during all these periods. This permit does not request the foreigner to live in Spain for more than six months; therefore it will not be cancelled if the foreigner lives in another country.

    The residence and work permit is granted to the individual who executes the investment. If he/she is married and/or has children or ancestors who depend on the investor, it is possible to apply for their visa at the same time or later on. It is possible to execute the investment through a company owned by the investor, provided it is not a company domiciled in a tax heaven country.

    The Spanish visa allows free movements within the EU countries (Schengen space). The valid travelling document is the passport.

    Foreigners who wish to carry on a self-employment project in Spain could obtain the work and residence permit, but through a different procedure than the above mentioned, and these cases the minimum investment amount is lower.

    Investment in real estate

    The investment in real estate could be in residential, commercial or industrial properties. The property could be leased to third parties before or after the acquisition, or used by the investor. For ambitious investors, there are several possibilities to structure the investment in buildings and apartments and to a higher return of the investment.

    There are some costs related to the acquisition of real estate: the acquisition itself is taxed by Transfer Tax at rates ranging from 6 to 10% on the acquisition price, depending on each Spanish region where the property is located, to be paid by the buyer. Besides, the buyer should pay the Notary Public and Property Registrar’s fees, which approximately amount 3% of the acquisition price (the addition of both of them). These amounts are paid once, when the property is acquired.

    The annual costs related to the ownership of real estate in Spain are the following ones:

    • IBI or local property tax, whose amount is calculated based on the value and location of the property.
    • “Community expenses”, that is those expenses related to the maintenance of the common areas of the building where the property is located: cleaning, lighting, etc.
    • In some cases, also a small tax for garbage should be paid to the Town Council.
    • Owners should file the Spanish Personal Income Tax Return, and pay a percentage between 1,1% and 2% of the property’s “cadastral value” (official value), in case the property is not leased to a third party. If the property is leased, the owner should also file the Personal Income Tax Return based on the amounts obtained from the lease.

    Besides, owners should also pay the expenses related to their property: ordinary maintenance expenses, insurance, electricity and water, etc.

    In Spain, the property right is considered as a full right, which implies that the owner can use the property by himself, can lease it to third parties, can mortgage or encumber it, can sell or gift it to any third party and can pass it to his heirs through a will.

    The only limits to the use of the property by its owner or the persons appointed by him are those established by the civic rules regarding noises, pets, exterior image of the property, etc.

    Regarding the lease of the property, in principle it is free, and the rights and obligations of landlord and tenant are those provided by the private lease agreement entered between both parties and the Spanish Urban Leases Law (Ley de Arrendamientos Urbanos). However, nowadays many Spanish cities (and specially Barcelona) have approved strong limits to the so called touristic leases, which are the short term (days or weeks) leases, and request a special license.

    It is important to point out that foreigners who become residents in Spain can grant their will according to Spanish inheritance laws (according to EU Regulation 650/2012), which slightly vary depending on each Spanish region. In Catalonia, for example, the testator can freely appoint who will be his heirs.

    Financial investment

    Financial investments can be executed through different types of targets, being always the minimum amount 1 million Euros:

    • Shares of companies listed in the Spanish Stock Market.
    • Shares of non-listed companies, which could be already operating companies or newly incorporated ones. In both cases, there are no limits as regards the percentage of shares that can be owned by foreigners, and the activity sectors restricted to non EU foreign investment are very few (gambling, defense, aviation, TV and radio). Foreigners can be appointed Directors of Spanish companies with the only requirement of having previously obtained the so called “N.I.E.”, which is the Spanish identification number for foreigners.

    In case of a newly incorporated company, the € 1 million requested as investment would constitute the company’s share capital, and can be used for the startup of the company’s activities: for example, acquisition of goods, payment of salaries and rentals, payment of purveyors and subcontractors, etc.

    Spanish companies have access to all European markets and have a privileged position for trading with Latin American countries.

    • Investment funds: Spanish financial entities offer a very wide range of investment funds, from very conservative to high risk.

    Deposit in a bank

    The main advantage of a real estate investment compared to a financial investment is that the requested amount is only € 500.000 for real estate, while for a financial investment is twice this amount. During the past years since the Law on Entrepreneurship became in force, investment in real estate has been the most popular way for obtaining the residence permit in Spain, probably because at that time (2013-2016) real estate market prices were quite low due to the crash in 2008.

    However, the process to acquire a property in Spain is not so easy compared to the acquisition of a share in an investment fund or making a bank deposit: the investor has to choose the property, which normally requires one or two visits to Spain, the price and sale conditions have to negotiated and drafted, the purchase deed has to be signed before a Notary Public (by the investor or his proxy), there are taxes and expenses related to the acquisition, and once the property is acquired, it is necessary to pay ongoing expenses and taxes, and maintain the property in good condition.

    Compared to this, the investment in funds or making a bank deposit only requires one visit to the bank by the investor, in order to sign the correspondent documents.  There are not related taxes or expenses, and the liquidity of the investment is  full  (that is,  the investment can be sold at any moment,  quite probably at the same or  at a higher price, but this is not guaranteed for real estate investments).

    How to open and operate a bank account in Spain

    In Spain, banks apply the regulations regarding anti-money laundering, which include the KYC (Know Your Client) rules and the obligation to prove the legal origin of the funds. The KYC rules imply the need for the investor to appear personally before the bank at least once, previously to operating the bank account. The legal origin of the funds can be proved through different means:

    • In case of employees, through the payroll splits, or a certificate issued by the employer, or the investor’s personal income tax return.
    • In case of self-employed individuals, through their personal income tax return, or another type of documents proving their professional activity.
    • In case of company owners, through the company’s financial statements.
    • If the investor has obtained the funds necessary for the investment through personal loans, the loan agreements should be provided, plus the documents proving the legal origin of the funds provided by the lenders.
    • Other documents, for example, regarding dividends or income from the lease of properties owned by the investor could be provided.

    All documents should be legalized by a Notary Public or the Spanish Consulate, and sworn translated into Spanish.

    Please note that this article is aimed to provide a general overview on Spanish rules regarding the above matters, but it does not constitute any kind of comprehensive information on them, and in any case specific legal advice should be sought prior to taking any decision.

    En todas las operaciones de M&A una de las cuestiones que merece un capítulo especial en cuanto a su análisis, determinación y negociación son las contingencias fiscales. Aunque las partes puedan estar más o menos de acuerdo en el importe de dichas contingencias, negociar las posibles garantías que ha de otorgar el vendedor a fin de proteger al comprador de una posible reclamación por parte de las autoridades fiscales, el plazo de duración de las mismas, así como acordar los mecanismos de comunicación entre las partes (comprador y vendedor) y de defensa legal en caso de que se produzca tal reclamación, requiere ingentes esfuerzos negociadores.

    Cuando la operación de adquisición no se formaliza mediante la compra de las acciones o participaciones sociales de la sociedad que es objeto de adquisición (“shares deal”), sino mediante de la compra de los activos que forman una unidad productiva (“assets deal”), la Ley General Tributaria (LGT) española establece un mecanismo que supone una excepción al principio, establecido por el artículo 42 de la misma Ley, consistente en establecer la responsabilidad solidaria del adquirente de una unidad productiva por las deudas tributarias contraídas por el anterior titular (“responsabilidad por sucesión de empresa”). Esto es, en principio, de acuerdo con el artículo 42 de la LGT, “serán responsables solidarios de la deuda tributaria las personas o entidades que sucedan por cualquier concepto en la titularidad o ejercicio de explotaciones o actividades económicas, por las obligaciones tributarias contraídas del anterior titular y derivadas de su ejercicio”.

    Sin embargo, esta responsabilidad solidaria del adquirente se puede limitar mediante la solicitud a las autoridades fiscales del certificado que regula el artículo 175.2 de la LGT. El certificado debe solicitarlo el que pretende adquirir la titularidad de una explotación económica, de conformidad con el titular actual, y la responsabilidad del adquirente queda limitada a las deudas, sanciones y responsabilidades mencionadas en la certificación. Si la certificación se expide sin mencionar importe alguno, o bien la Administración no la expide en el plazo de tres meses desde la solicitud, el solicitante quedará exento de la responsabilidad fiscal solidaria por sucesión de empresa.

    La certificación del artículo 175.2 de la LGT puede incluir las deudas por retenciones a cuenta del IRPF, las cuales en el caso de empresas con una gran número de trabajadores pueden ser de un importe elevado, sin embargo la responsabilidad solidaria del adquirente por sueldos, salarios y cuotas de seguridad social no puede limitarse mediante la solicitud de este certificado, sino que siempre sería solidaria con el transmitente de la unidad de negocio.

    La solicitud del certificado debe realizarse antes de formalizar la adquisición de la unidad productiva, aunque su emisión tenga lugar después de dicha adquisición (por supuesto, la posición prudente es no cerrar la adquisición hasta no disponer del certificado). La duración de este certificado es de un año, para el caso de obligaciones fiscales periódicas (por ejemplo, Impuesto sobre el Valor Añadido, Impuesto de Sociedades, retenciones a cuenta de Impuesto sobre la Renta de las Personas Físicas), y de tres meses para el caso de obligaciones fiscales no periódicas.

    Es muy importante solicitar el certificado correcto (“a efectos de sucesión de empresa de acuerdo con lo establecido en el art. 175.2 de la LGT”), y no confundirlo por ejemplo con el certificado referente a estar al corriente de las obligaciones tributarias, pues abundan en la jurisprudencia los casos de adquirentes de empresas que, habiendo solicitado un certificado erróneo a las autoridades fiscales y habiendo obtenido un certificado que no mostraba responsabilidades fiscales, posteriormente han sido condenados a pagar, en calidad de responsables solidarios, las deudas fiscales de la empresa transmitente.

    The remuneration of directors is an intricate issue and one that deserves adequate treatment. Recently there has been a turn that deserves special attention.

    In its judgment of February 26, 2018, the Supreme Court modified the interpretation given by most experts and authorities and by the Directorate-General of Registries and the Notarial Profession in its decision dated June 17, 2016, ratified by the Barcelona Provincial Appellate Court in its decision 295/2017 of June 30, 2017, on the regulation of executive directors’ compensation.

    In its judgment, the Supreme Court held that the compensation of directors “in their capacity as such” includes the compensation of both deliberative and executive functions and that, accordingly, approval of the compensation of directors who discharge executive functions is subject not only to article 249 of the Corporate Enterprises Law (i.e., the requirement for there to be a contract approved by a two-thirds majority of the board) but also to article 217. Consequently:

    1. the bylaws must stipulate the compensation scheme for executive functions (although no reference is made to amount); and
    2. the amount payable for the discharge of executive functions must be included in the maximum annual amount stipulated by the shareholders’ meeting.

    The judgment was handed down in connection with a limited liability company and, furthermore, some of its considerations refer specifically to unlisted companies, although it does not clearly and indubitably exclude listed companies (which are, however, subject to specific rules under the compensation policy).

    The publication of this Supreme Court judgment gives rise to the need for an individualized analysis of each specific case, so that the appropriate measures can be taken to enable companies to bring their policies into line with its conclusions.

    The author of this post is Pablo Vinageras.

    Una vez convencidos de la utilidad de la mediación como método de solucionar conflictos entre franquiciador y franquiciado y tomada la decisión de incluir en los contratos una cláusula que la prevea, el último paso sería qué elementos debemos tener en cuenta a la hora de redactarla.

    1. La negociación previa. Parece recomendable que ambas partes se concedan la posibilidad de intentar resolver el problema con una negociación formal previa. La mediación no excluye el intento previo llevado a cabo por los interesados o sus abogados, no obstante, parece recomendable que se prevea contractualmente un plazo adecuado a las circunstancias. La experiencia demuestra que alargar demasiado esta fase puede producir como resultado que el conflicto se vaya agravando y resulte más complicado incluso acercarse a la mediación.
    2. La cláusula puede igualmente prever el lugar en el que la mediación se llevará a cabo. De nuevo en este punto las partes son libres. Es conveniente que éste sea preciso indicando la ciudad.
    3. El idioma en el que va a desarrollarse la mediación es facultad de las partes. No habrá dificultad en mediaciones en las que ambas partes usen el mismo idioma, pero es muy conveniente en contratos con partes que los tengan diferentes, o que pertenezcan a regiones o países con diferentes lenguas cooficiales. La redacción o firma del contrato en un idioma concreto no presupone que ese haya de ser el idioma de la mediación. Es un elemento a tener muy en cuenta también a la hora de solicitar un mediador que pueda usar dicho idioma en la institución de mediación elegida.
    4. El procedimiento puede decidirse igualmente por las partes. En particular, el número de sesiones, la duración máxima prevista, la participación de asesores, etc. Téngase en cuenta que la mayor o menor regulación permitirá evitar futuros conflictos al respecto, aunque también supondrá enmarcar más la libertad de las partes que, no obstante, permanecerán libres para modificar de común acuerdo lo pactado.
    5. El plazo de duración de la mediación puede igualmente contemplarse. Ello permitiría, por ejemplo, evitar que la mediación se alargue únicamente con fines estratégicos meramente procesales o para recabar información de la otra parte antes de iniciar un procedimiento, etc. Los mediadores profesionales, no obstante, son capaces de identificar estas maniobras teniendo la facultad también de poner ellos mismos fin a la mediación en caso de constatarlas.
    6. Elegir al mediador o a la institución de mediación es una elección importante. Las partes pueden ponerse de acuerdo sobre quién será su mediador, indicar en el contrato los elementos para elegirlo, o someterse directamente a una Institución de Mediación para que sea ésta quien lo designe conforme a sus propias reglas. Estas decisiones pueden ser alternativas (es decir, que las partes se pongan de acuerdo sobre el mediador y, en caso de falta de acuerdo, someterse a una institución que lo nombre), o pueden ser únicas. La designación de una Institución requiere que tenga la suficiente garantía de estabilidad (evitar designar instituciones de corta trayectoria o sin demasiada garantía de futuro), con un panel suficiente de mediadores en función de las características de la mediación (idioma, competencia, experiencia) y que permita la flexibilidad necesaria para su funcionamiento.
    7. Por último, es conveniente que la cláusula incluya una vía alternativa en caso de que la mediación no llegue a buen puerto bien porque las partes no llegan a un acuerdo, bien porque se retiran de la mediación. Recordemos que la mediación no cierra las puertas a que el conflicto sea resuelto mediante el recurso a la jurisdicción ordinaria o al arbitraje. Y en materia de arbitraje especializado en contratos de distribución el IDArb (https://www.idiproject.com/content/idarb-idi-arbitration-project) es una excelente opción.

    La redacción de la cláusula de mediación en el contrato de franquicia

    24 de mayo de 2018

    • España
    • Contratos de distribución
    • Franquicia

    Constituye el objeto de la presente Nota el análisis de las nuevas obligaciones que el RDL 6/2019 establece, en materia de igualdad, a cargo de todo tipo de Empresas (con independencia de cuál sea el número de trabajadores) y, concretamente, para aquéllas empresa que cuenten con 50 o más trabajadores.

    La principal novedad que encontramos a este respecto reside en la obligatoriedad, para empresas que cuenten con 50 o más trabajadores, de implantar un plan de igualdad, de conformidad con lo establecido en los artículos 45 y siguientes de la LOIEMH.

    En cuanto al contenido y las condiciones de implantación del Plan de Igualdad en las Empresas, encontramos las siguientes novedades:

    • Se enumeran taxativamente las materias y contenido mínimo que debe recoger todo plan de igualdad.
    • Se introduce, como materia que debe contener el Plan, un análisis sobre la Infrarrepresentación femenina en la Empresa.
    • El diagnóstico que debe realizar la empresa con carácter previo a la elaboración del Plan de Igualdad debe ser negociado con la representación legal de los trabajadores.
    • Se crea un Registro de Planes de Igualdad de las Empresas, en el que deben inscribirse todos los planes de igualdad implantados en las Empresas, con independencia del número de trabajadores que tengan.

    Por otro lado, el RDL 6/2019 da una nueva redacción al artículo 28 del Estatuto de los Trabajadores, que recoge la obligación de la Empresa de cumplir con la exigencia de igualdad de salario entre hombres y mujeres, estableciendo una serie de medidas y obligaciones a cargo de las Empresas, al objeto de procurar el efectivo cumplimiento de la igualdad salarial.

    En concreto, estas nuevas medidas adoptadas en el artículo 28 del ET son las siguientes:

    • Se especifica lo que ha de ser considerado como “trabajo de igual valor”, a fin de facilitar un único concepto y eliminar cualquier duda al respecto.
    • Las Empresas tienen la obligación de llevar un Registro Salarial, con los valores medios de los salarios, los complementos salariales y las percepciones extrasalariales de su plantilla, diferenciados por sexo y distribuidos por grupos profesionales, categorías profesionales o puestos de trabajo iguales o de igual valor.
    • El Registro Salarial deberá ser accesible a la representación legal de los trabajadores.
    • En las empresas con 50 o más trabajadores en las que el promedio de las retribuciones a los trabajadores de un sexo sea superior a los del otro en un 25% o más, deberá incluirse en el Registro Salarial una justificación de dicha diferencia, debiendo acreditar que la misma se debe a motivos ajenos al sexo de los trabajadores.

    El incumplimiento, por parte de las Empresas, de las obligaciones en materia de Igualdad y, en concreto, aquéllas relativas al Plan de Igualdad e Igualdad salarial entre hombres y mujeres, podrán comportar la imposición de importantes sanciones por parte de la Inspección de Trabajo y la TGSS.

    La Ley española del Contrato de Agencia y la Directiva europea prevén para el agente — salvo en ciertos casos —, una indemnización por clientela cuando la relación se termina, en función de la retribución percibida por el Agente durante la vida del contrato. Es, pues, una carga que en general todo empresario tendrá pendiente al terminar el contrato.

    La tentación es intentar librarse de su pago y para ello nos consultan con frecuencia acerca de estrategias o tácticas. A continuación intento resumir algunos de ellos indicando las posibilidades de éxito (o no) que pueden tener, tanto en la fase de negociación/redacción del contrato, como en la fase de resolución.

    1. Cambiar el nombre del contrato

    La primera idea es hacer un contrato “parecido” al de agencia o llamarlo de otra forma (de servicios, de intermediación, de representación…). Ahora bien, el cambio de nombre no tiene ninguna incidencia ya que los contratos “son lo que son” y no lo que las partes los llaman. Así que si hay una intermediación continuada a cambio de una remuneración, hay muchas posibilidades de que un juez lo considere como contrato de agencia, lo llamemos como lo llamemos. Y ello con todas sus consecuencias.

    1. Limitar la indemnización en el contrato

    Otra tentación en la fase de redacción del contrato es acordar una indemnización menor que el máximo previsto legalmente, prever su pago por adelantado mientras dura el contrato, o directamente eliminarla.

    Ninguna de estas soluciones sería válida si intentan disminuir la posibilidad de que el Agente perciba el máximo legal, o por motivos no previstos en la Ley ni la Directiva. La ley manda.

    1. Encadenar varios contratos de agencia

    Dado que la indemnización se calcula según las remuneraciones de los últimos cinco años y de la clientela creada, la tentación es encadenar varios contratos de menor duración para considerar solo los clientes del último período.

    Esto no necesariamente será una buena idea si el último año, por ejemplo, se crearon muchos clientes, pero, además puede resultar inútil porque la ley española y la Directiva prevén que el contrato de duración determinada que continúa ejecutándose se transforma en indefinido. El juez podrá considerar todos los contratos encadenados como uno único.

    Para que esta estrategia tenga posibilidad de ser útil, habría que liquidar cada contrato sustituido, declarar que “nada tienen que reclamarse las partes” y que los sucesivos contratos estén suficientemente separados y tengan diferente entidad, redacción, extensión, etc. Si se plantea bien, podría ser una vía para liberarse de una mayor indemnización por clientela: un pacto bien redactado por el que el agente declara recibida la indemnización, y que el siguiente contrato no reitere miméticamente y de forma inmediata el contenido del anterior.

    1. Someter el contrato a un derecho extranjero

    En contratos internacionales la tentación es someter el contrato a un derecho que no sea el español, en particular, cuando el Principal es de dicha nacionalidad.

    La idea puede ser buena o mala según el derecho elegido y siempre que guarde alguna relación con el negocio. Como se sabe, en la UE la Directiva establece unas condiciones mínimas que las legislaciones nacionales deben respetar. Pero nada impide a estas leyes prever condiciones más ventajosas para los agentes. Esto hace que, por ejemplo, elegir el derecho francés sería, en general, una idea mala para el Principal porque la indemnización en ese país suele ser mayor.

    En algunos casos, la elección de un derecho de fuera de la Unión Europea que no prevea la indemnización por clientela cuando el agente es europeo ha sido rechazada por considerar que se está vulnerando el derecho mínimo reconocido en la Directiva.

    1. Someter el contrato a reglas y jueces no nacionales

    Otra posibilidad menos frecuente es la de someter el contrato a normas no de un país, sino a normas mercantiles generales (Lex Mercatoria) y acordar una indemnización menor.

    Esto no es muy frecuente, y puede no resultar muy útil según quien haya de interpretar el contrato y dónde resida el agente. Si, por ejemplo, el agente reside en España y quien va a interpretar el contrato es un juez español, con mucha probabilidad va a interpretar el contrato según sus propias normas sin verse vinculado por lo que prevea el contrato. De nada habrá servido.

    1. Someter el contrato a arbitraje

    Diferente será la cuestión si el contrato está sometido a arbitraje. En este caso los árbitros, normalmente, no están sometidos necesariamente a interpretar un contrato según las normas nacionales propias si el contrato está sometido a otras diferentes. En este caso sí que cabría la posibilidad de que se sintieran más libres de considerar exclusivamente el contrato, sobre todo cuando el agente no fuera de su nacionalidad, desconociera cuál es el derecho del país del agente y no se viera vinculado por las garantías previstas para su protección.

    1. La mediación en el contrato de agencia

    La mediación es una forma alternativa de solucionar un conflicto que puede usarse también en contratos de agencia. Con ella son las partes, ayudadas por el mediador, quienes resolverían la controversia.

    En este caso, dado que el mediador no es quien decide, es posible que las partes lleguen libremente a un acuerdo por el que el agente se conforme con una indemnización menor si, por ejemplo, se le confieren otras ventajas, reconocimientos, si llega al convencimiento de tener menor derecho, dificultad de prueba, si prefiere ahorrarse otros costes, tiempo, energías para su nuevo negocio, etc.

    Los mediadores velan por el equilibrio de las partes, pero nada impide que ambas concluyan una indemnización menor al máximo legal (tras la conclusión del contrato es posible negociar una inferior a la legal). Prever la mediación en el contrato de agencia, es, por lo tanto, una buena idea para poder abordar y negociar mejor esta indemnización por clientela. Además, prever la mediación no limita los derechos de ninguna de las partes para retirarse y proseguir por la vía judicial exigiendo el máximo legal.

    1. Imputar al agente un incumplimiento previo

    Cuando el contrato termina, esta es, sin duda, la causa que se intenta con más frecuencia: cuando se quiere resolver el contrato, el Principal intenta argumentar que el Agente lo ha incumplido previamente y que por eso se está resolviendo el contrato.

    La ley y la Directiva exceptúan el pago de la indemnización cuando el agente ha incumplido antes. Pero en ese caso, el Principal deberá poder demostrarlo cuando el agente lo discuta. Y no siempre será fácil. El Principal ha de aportar pruebas claras y para ello será conveniente recoger información y documentación sobre el incumplimiento con la suficiente y antelación y de importancia suficiente (no suelen aceptarse incumplimientos menores). Por lo tanto, si el Principal desea seguir este camino, es recomendable preparar los argumentos y las pruebas antes de que finalice el contrato. Es muy recomendable, por tanto, ponerse en contacto con un asesor experto cuanto antes: él lo ayudará a minimizar los riesgos.

    The procedure to incorporate a foreign owned company in Spain is, in principle, easy and straight forward, however it is necessary to take into account certain new requirements derived from the tax and the anti-money laundering regulations, which could cause long delays in the incorporation process, even to EU and US companies, if they are not well advised and managed from the beginning of the procedure.

    The first step consist in collecting information about the foreign shareholder, in order to be able to prove its legal existence and activities: the foreign shareholder(s) will have to grant before a Notary Public in its country of residence a power of attorney authorising somebody in Spain to obtain its tax identification number (“NIE”), and also represent it before the Spanish notary when signing the deed of incorporation. In case the foreign shareholder is an individual person, the NIE should be applied for before the Spanish police or the Spanish Consulate at the country where the investor lives.

    If the shareholder is a corporation, apart from the Power of Attorney, it will have to obtain a certificate from its Companies’ Registry or Chamber of Commerce, stating its legal existence and main characteristics. This document is called “good standing certificate” (in the UK and US), “K-bis” (in France), “KvK” (in the Netherlands) or “visura” (in Italy). These two documents, the Power of Attorney mentioned in the above paragraph and the certificate from the Companies’ Registry, will have to be Apostilled or legalized by the correspondent Ministry, and Sworn translated into Spanish. Please note that we use to draft bilingual powers of attorney in order to avoid its sworn translation.

    The foreign shareholder will have to prove that its income is obtained from legal activities in order to be able to open a bank account in the name of the new company. The main document to prove this could be the Corporate or the Personal Income Tax return filed in its country of residence, but there could be other means, especially in case of individual persons.

    In case of a corporate shareholder, it will be necessary as well to declare, in principle through a public deed granted in Spain, who are the individual persons who, directly or through other companies, will hold more than a 25% interest in the new company to be incorporated. In case nobody holds more than a 25% (i.e. because there are 5 individual shareholders, holding each of them a 20%), it is declared that the effective control of the new company corresponds to its director.

    At this stage, it is also necessary to mention that the person(s) who will be the director(s) of the new company, in case they are foreigners, will also need to obtain their personal “NIE”. The NIE should be applied for before the Spanish police (this could be done by a proxy duly authorised though a Power of Attorney granted by the foreign director) or before the Spanish Consulate nearest to the city where the investor lives. In order to be a director of a Spanish company it is not necessary to be a shareholder, nor to have residence and work permit in Spain (provided the foreign director does not live in Spain).

    Meanwhile the necessary documents (Powers of Attorney, Companies’ Registry certificate, etc.) are being prepared by the foreign shareholder, the lawyer in Spain will apply for the new company’s name. It is advisable to point out that generic or usual names are not available quite often, therefore it is necessary to think in original names. Three different names could be applied for simultaneously.

    The drafting of the company’s Articles of Association or By Laws could be very quick, except if the company is going to have several shareholders and they wish specific clauses. In this case, it is also advisable to draft a Shareholders Agreement. The Shareholders’ Agreement could just contain some basic rules on dedication, compensation, non-competition, etc. and some more sophisticated rules on the sale of shares (tag along and drag along rights). As regards the By-Laws, they should mention the company’s name, its activity or activities, address in Spain –which cannot be just a P.O. Box-, share capital, number of shares and its face value, and starting date for the fiscal year, among other standard clauses.

    The management of the company could be organized through a sole director, two directors who could act jointly or separately, and in case there are more than three directors, they should organize themselves through a Board of Directors, being usual in this case to appoint a C.E.O. In order to be a director it is not necessary to be a shareholder. Under Spanish laws, the director(s) could be held liable for some company’s debts under certain circumstances which are legally defined. For this reason, it is necessary that the directors formally accept their appointment (personally appearing before the Notary or through a Power of Attorney).

    Before the incorporation, it will be necessary that either the new company’s director (the person to be appointed) or the representative of the corporate shareholder appears personally before the bank where the company will have its first bank account and signs the correspondent documents (KYC regulation). Once the bank account is opened, the shareholder will have to send a bank transfer for the new company’s share capital. In Spain, the minimum share capital for a limited company (S.L.) is Euros 3.000, while for a “Sociedad Anónima” (S.A.) it is Euros 60.000, but only 25% should be paid off at the incorporation moment. It is interesting to note that contributions to the share capital could be made in cash – which is the most common operation, especially at the incorporation – or in kind, with any type of assets: real estate, machinery, goods, trademarks, etc. The money for the share capital should be sent to the new company’s bank account from an account owned by the shareholder (or from each account owned by each shareholder, should they be several ones), not by any other different person. Once the Spanish bank receives the transfer, it will issue a certificate, which is necessary in order to incorporate the company.

    Once all the documents are ready, it is possible within very few days (almost immediately) to make the appointment with the Notary and sign the public deed of incorporation. This can be done at any notary in Spain, not being necessary that the notary practises at the same city where the company will have its corporate address. In order to summarize, the list of the necessary documents is:

    • Power(s) of Attorney granted by the foreign shareholder(s), apostilled and sworn translated.
    • Certificate regarding the legal existence of the foreign shareholder (only if it is a corporation), apostilled and sworn translated.
    • Statement on who are the last individual shareholders holding more than 25% interest in the new company, directly or indirectly (only in case of corporate shareholders).
    • NIE of the foreign shareholder(s).
    • NIE of the new company’s director(s), should they be a foreigners.
    • Certificate for the new company’s name.
    • Articles of Association.
    • Bank certificate regarding the contribution to the new company’s share capital.

    The deed of incorporation is signed by the proxy (or the individual shareholder(s), should they prefer to personally appear before the notary) before the chosen public notary, being also necessary to sign an official form to report the foreign investment to a public registry depending on the Spanish Ministry of Finance.

    Once the deed of incorporation is signed, the next steps consist in applying before the tax authorities to obtain the new company’s tax number (NIF / CIF) and filing the deed of incorporation before the Companies’ Registry. Some banks do allow new companies to operate once they have the NIF (which could be 2-3 days after the incorporation), while others request to wait until the deed of incorporation is filed at the Companies’ Registry (2-3 weeks).

    An estimation of the necessary time to complete all the procedure is 30-45 days, but of course the main delay is related to speed of the foreign investor in obtaining the necessary documents.

    Please note that if you wish to incorporate a foreign owned company in Spain it is always necessary to seek specific professional advice, as each case is different and regulations and the application of such regulations vary from time to time. The above article just explains the main steps and requirements for the incorporation of a company.

    Arbitration is a well-known system for dispute resolutions, and works as an alternative to judicial procedures. Parties are free to choose this system and to submit their conflicts to specific arbitrators or institutions.

    It is usually considered that arbitration is a good way to solve conflicts but preferable to those arisen between big corporations or involving important amounts of money. Although this assumption is generally accepted, there is an alternative for distribution disputes suitable for smaller companies and cases with lower amounts claimed.

    And here is the essential question: why a manufacturer/franchisor or a distributor/agent/franchisee should choose a specialized arbitration for their agreements instead of a more general one or, even, a judicial procedure? The answer seems clear: an arbitrator with knowledge not only in procedural questions but in substantive matters will be able to better understand the conflict between the parties and, therefore, to grant a better award. Take into account that, for instance in my Country, Spain, a Judge of First instance can deal in the same day with a distribution contract, a construction case, a conflict between heirs, and a discussion in a community of owners. All of this requires the analysis of different facts and completely different legislations and it is true that specific commercial problems do not usually have judges experts in international trading. But, how to choose a good specialized arbitrator? And, how to choose the arbitral procedure and the institution in terms of organization, neutrality, costs and time?

    The IDArb was created in 2016 by the International Distribution Institute (www.idiproject.com) in collaboration with the Chambre de Commerce d’Industries et de Services de Genève (CCIG www.ccig.ch) and the Swiss Chambers’ Arbitration Institution (SCAI www.swissarbitration.org) and offers to the distribution sector (distribution, agency, franchising, selective distribution) a specialized, expedited and affordable arbitration procedure, not only for big international corporations but also for smaller cases. In fact, the expedited procedure is particularly foreseen for amounts below one million CHF (approx. 880.000 €).

    The objectives and main characteristics of IDArb which make it suitable for all the distribution disputes are:

    1. A list of specialized arbitrators experts in this particular field is available for ad hoc or institutional arbitration and IDArb is able to assist the parties to choose one of them.

    Specialized arbitrators from different countries and legal cultures have been appointed by a Selecting Committee reviewing their experience in one or more fields of distribution law. Therefore, parties can trust that the arbitrator will have concrete skills in the business with an in-depth understanding of the disputed issues. This is not a general knowledge on commercial law, but a concrete one on distribution, expressly verified by the Committee. Parties can even examine some examples of cases in which every arbitrator has been involved in.

    1. In order to maintain its high quality, the IDArb organizes training seminars for its appointed arbitrators. In these seminars, they are able to discuss about the general management of the arbitration, the procedural aspects and how to solve possible incidents in collaboration with the Institutions and their Rules. This will make all the proceedings more manageable and the possible difficulties more easily solved. Last seminar took place in Geneva in November 8, 2018 and participants have discussed, amongst other subjects, on evidences, witnesses and document production.
    2. The expedited arbitration procedure permits the parties to have a tailored procedure managed by SCAI under the Swiss Rules of International Arbitration, specially adapted for small disputes in the field of distribution.
    3. Time is also an essential element: the award in the expedited procedure will be issued in a maximum term of six months (only exceptional circumstances permit the Court to extend such time-limit), and, if parties agree, it can be decided only on documentary evidence.
    4. Costs are reasonable and known in advance.
    5. And, as final but important remark, IDArb has also adopted some recommendations where, upon request of the parties, mediation is favoured, the arbitrator my consider giving a preliminary non-binding and provisional assessment of the dispute and should have a pro-active position in order to facilitate an amicable settlement.

    Spanish Law on Entrepreneurship (Law 14/2013) has approved new cases where foreigners from non-European Union countries can obtain the residence permit in Spain through the execution of investments:

    1. Investments in real estate for an amount equal or higher than € 500.000 (Five Hundred Thousand Euros). The investment can be made in one or more properties, but at least € 500.000 should be free of encumbrances (mortgage, i.e.). If the price is higher than € 500.000, the rest of the amount could be paid through mortgage.
    2. Financial investments for a value equal or higher than 1 million Euros. This type of investment includes listed and non-listed shares, in case of non-listed shares they could be from already operating companies or newly incorporated ones, investment funds, and deposits in Spanish banks.
    3. Investment in Spanish sovereign debt for an amount equal or higher than 2 million Euros.
    4. To carry on a business project in Spain that was considered as being of public interest. To this purpose, one of these conditions should be met: creation of jobs, execution of an investment that has a positive impact in the region where it is located, or a relevant contribution to scientific or technological innovation.

    The visa granted through the execution of these investments is valid during at least one year, and in order to obtain the residence permit some other requirements should be met:

    • to not stay previously in Spain in an illegal situation,
    • to have more than 18 years,
    • to not have criminal records,
    • to have a health insurance (hired from a company operating in Spain)
    • to have financial means for the stay in Spain (i.e. a bank deposit, or income from leases or dividends. Payroll does not qualify for this purpose).

    If the above requirements are met, a two years residence and work permit could be granted. After this term, the residence permit can be extended for successive five years periods. The investments should be kept during all these periods. This permit does not request the foreigner to live in Spain for more than six months; therefore it will not be cancelled if the foreigner lives in another country.

    The residence and work permit is granted to the individual who executes the investment. If he/she is married and/or has children or ancestors who depend on the investor, it is possible to apply for their visa at the same time or later on. It is possible to execute the investment through a company owned by the investor, provided it is not a company domiciled in a tax heaven country.

    The Spanish visa allows free movements within the EU countries (Schengen space). The valid travelling document is the passport.

    Foreigners who wish to carry on a self-employment project in Spain could obtain the work and residence permit, but through a different procedure than the above mentioned, and these cases the minimum investment amount is lower.

    Investment in real estate

    The investment in real estate could be in residential, commercial or industrial properties. The property could be leased to third parties before or after the acquisition, or used by the investor. For ambitious investors, there are several possibilities to structure the investment in buildings and apartments and to a higher return of the investment.

    There are some costs related to the acquisition of real estate: the acquisition itself is taxed by Transfer Tax at rates ranging from 6 to 10% on the acquisition price, depending on each Spanish region where the property is located, to be paid by the buyer. Besides, the buyer should pay the Notary Public and Property Registrar’s fees, which approximately amount 3% of the acquisition price (the addition of both of them). These amounts are paid once, when the property is acquired.

    The annual costs related to the ownership of real estate in Spain are the following ones:

    • IBI or local property tax, whose amount is calculated based on the value and location of the property.
    • “Community expenses”, that is those expenses related to the maintenance of the common areas of the building where the property is located: cleaning, lighting, etc.
    • In some cases, also a small tax for garbage should be paid to the Town Council.
    • Owners should file the Spanish Personal Income Tax Return, and pay a percentage between 1,1% and 2% of the property’s “cadastral value” (official value), in case the property is not leased to a third party. If the property is leased, the owner should also file the Personal Income Tax Return based on the amounts obtained from the lease.

    Besides, owners should also pay the expenses related to their property: ordinary maintenance expenses, insurance, electricity and water, etc.

    In Spain, the property right is considered as a full right, which implies that the owner can use the property by himself, can lease it to third parties, can mortgage or encumber it, can sell or gift it to any third party and can pass it to his heirs through a will.

    The only limits to the use of the property by its owner or the persons appointed by him are those established by the civic rules regarding noises, pets, exterior image of the property, etc.

    Regarding the lease of the property, in principle it is free, and the rights and obligations of landlord and tenant are those provided by the private lease agreement entered between both parties and the Spanish Urban Leases Law (Ley de Arrendamientos Urbanos). However, nowadays many Spanish cities (and specially Barcelona) have approved strong limits to the so called touristic leases, which are the short term (days or weeks) leases, and request a special license.

    It is important to point out that foreigners who become residents in Spain can grant their will according to Spanish inheritance laws (according to EU Regulation 650/2012), which slightly vary depending on each Spanish region. In Catalonia, for example, the testator can freely appoint who will be his heirs.

    Financial investment

    Financial investments can be executed through different types of targets, being always the minimum amount 1 million Euros:

    • Shares of companies listed in the Spanish Stock Market.
    • Shares of non-listed companies, which could be already operating companies or newly incorporated ones. In both cases, there are no limits as regards the percentage of shares that can be owned by foreigners, and the activity sectors restricted to non EU foreign investment are very few (gambling, defense, aviation, TV and radio). Foreigners can be appointed Directors of Spanish companies with the only requirement of having previously obtained the so called “N.I.E.”, which is the Spanish identification number for foreigners.

    In case of a newly incorporated company, the € 1 million requested as investment would constitute the company’s share capital, and can be used for the startup of the company’s activities: for example, acquisition of goods, payment of salaries and rentals, payment of purveyors and subcontractors, etc.

    Spanish companies have access to all European markets and have a privileged position for trading with Latin American countries.

    • Investment funds: Spanish financial entities offer a very wide range of investment funds, from very conservative to high risk.

    Deposit in a bank

    The main advantage of a real estate investment compared to a financial investment is that the requested amount is only € 500.000 for real estate, while for a financial investment is twice this amount. During the past years since the Law on Entrepreneurship became in force, investment in real estate has been the most popular way for obtaining the residence permit in Spain, probably because at that time (2013-2016) real estate market prices were quite low due to the crash in 2008.

    However, the process to acquire a property in Spain is not so easy compared to the acquisition of a share in an investment fund or making a bank deposit: the investor has to choose the property, which normally requires one or two visits to Spain, the price and sale conditions have to negotiated and drafted, the purchase deed has to be signed before a Notary Public (by the investor or his proxy), there are taxes and expenses related to the acquisition, and once the property is acquired, it is necessary to pay ongoing expenses and taxes, and maintain the property in good condition.

    Compared to this, the investment in funds or making a bank deposit only requires one visit to the bank by the investor, in order to sign the correspondent documents.  There are not related taxes or expenses, and the liquidity of the investment is  full  (that is,  the investment can be sold at any moment,  quite probably at the same or  at a higher price, but this is not guaranteed for real estate investments).

    How to open and operate a bank account in Spain

    In Spain, banks apply the regulations regarding anti-money laundering, which include the KYC (Know Your Client) rules and the obligation to prove the legal origin of the funds. The KYC rules imply the need for the investor to appear personally before the bank at least once, previously to operating the bank account. The legal origin of the funds can be proved through different means:

    • In case of employees, through the payroll splits, or a certificate issued by the employer, or the investor’s personal income tax return.
    • In case of self-employed individuals, through their personal income tax return, or another type of documents proving their professional activity.
    • In case of company owners, through the company’s financial statements.
    • If the investor has obtained the funds necessary for the investment through personal loans, the loan agreements should be provided, plus the documents proving the legal origin of the funds provided by the lenders.
    • Other documents, for example, regarding dividends or income from the lease of properties owned by the investor could be provided.

    All documents should be legalized by a Notary Public or the Spanish Consulate, and sworn translated into Spanish.

    Please note that this article is aimed to provide a general overview on Spanish rules regarding the above matters, but it does not constitute any kind of comprehensive information on them, and in any case specific legal advice should be sought prior to taking any decision.

    En todas las operaciones de M&A una de las cuestiones que merece un capítulo especial en cuanto a su análisis, determinación y negociación son las contingencias fiscales. Aunque las partes puedan estar más o menos de acuerdo en el importe de dichas contingencias, negociar las posibles garantías que ha de otorgar el vendedor a fin de proteger al comprador de una posible reclamación por parte de las autoridades fiscales, el plazo de duración de las mismas, así como acordar los mecanismos de comunicación entre las partes (comprador y vendedor) y de defensa legal en caso de que se produzca tal reclamación, requiere ingentes esfuerzos negociadores.

    Cuando la operación de adquisición no se formaliza mediante la compra de las acciones o participaciones sociales de la sociedad que es objeto de adquisición (“shares deal”), sino mediante de la compra de los activos que forman una unidad productiva (“assets deal”), la Ley General Tributaria (LGT) española establece un mecanismo que supone una excepción al principio, establecido por el artículo 42 de la misma Ley, consistente en establecer la responsabilidad solidaria del adquirente de una unidad productiva por las deudas tributarias contraídas por el anterior titular (“responsabilidad por sucesión de empresa”). Esto es, en principio, de acuerdo con el artículo 42 de la LGT, “serán responsables solidarios de la deuda tributaria las personas o entidades que sucedan por cualquier concepto en la titularidad o ejercicio de explotaciones o actividades económicas, por las obligaciones tributarias contraídas del anterior titular y derivadas de su ejercicio”.

    Sin embargo, esta responsabilidad solidaria del adquirente se puede limitar mediante la solicitud a las autoridades fiscales del certificado que regula el artículo 175.2 de la LGT. El certificado debe solicitarlo el que pretende adquirir la titularidad de una explotación económica, de conformidad con el titular actual, y la responsabilidad del adquirente queda limitada a las deudas, sanciones y responsabilidades mencionadas en la certificación. Si la certificación se expide sin mencionar importe alguno, o bien la Administración no la expide en el plazo de tres meses desde la solicitud, el solicitante quedará exento de la responsabilidad fiscal solidaria por sucesión de empresa.

    La certificación del artículo 175.2 de la LGT puede incluir las deudas por retenciones a cuenta del IRPF, las cuales en el caso de empresas con una gran número de trabajadores pueden ser de un importe elevado, sin embargo la responsabilidad solidaria del adquirente por sueldos, salarios y cuotas de seguridad social no puede limitarse mediante la solicitud de este certificado, sino que siempre sería solidaria con el transmitente de la unidad de negocio.

    La solicitud del certificado debe realizarse antes de formalizar la adquisición de la unidad productiva, aunque su emisión tenga lugar después de dicha adquisición (por supuesto, la posición prudente es no cerrar la adquisición hasta no disponer del certificado). La duración de este certificado es de un año, para el caso de obligaciones fiscales periódicas (por ejemplo, Impuesto sobre el Valor Añadido, Impuesto de Sociedades, retenciones a cuenta de Impuesto sobre la Renta de las Personas Físicas), y de tres meses para el caso de obligaciones fiscales no periódicas.

    Es muy importante solicitar el certificado correcto (“a efectos de sucesión de empresa de acuerdo con lo establecido en el art. 175.2 de la LGT”), y no confundirlo por ejemplo con el certificado referente a estar al corriente de las obligaciones tributarias, pues abundan en la jurisprudencia los casos de adquirentes de empresas que, habiendo solicitado un certificado erróneo a las autoridades fiscales y habiendo obtenido un certificado que no mostraba responsabilidades fiscales, posteriormente han sido condenados a pagar, en calidad de responsables solidarios, las deudas fiscales de la empresa transmitente.

    The remuneration of directors is an intricate issue and one that deserves adequate treatment. Recently there has been a turn that deserves special attention.

    In its judgment of February 26, 2018, the Supreme Court modified the interpretation given by most experts and authorities and by the Directorate-General of Registries and the Notarial Profession in its decision dated June 17, 2016, ratified by the Barcelona Provincial Appellate Court in its decision 295/2017 of June 30, 2017, on the regulation of executive directors’ compensation.

    In its judgment, the Supreme Court held that the compensation of directors “in their capacity as such” includes the compensation of both deliberative and executive functions and that, accordingly, approval of the compensation of directors who discharge executive functions is subject not only to article 249 of the Corporate Enterprises Law (i.e., the requirement for there to be a contract approved by a two-thirds majority of the board) but also to article 217. Consequently:

    1. the bylaws must stipulate the compensation scheme for executive functions (although no reference is made to amount); and
    2. the amount payable for the discharge of executive functions must be included in the maximum annual amount stipulated by the shareholders’ meeting.

    The judgment was handed down in connection with a limited liability company and, furthermore, some of its considerations refer specifically to unlisted companies, although it does not clearly and indubitably exclude listed companies (which are, however, subject to specific rules under the compensation policy).

    The publication of this Supreme Court judgment gives rise to the need for an individualized analysis of each specific case, so that the appropriate measures can be taken to enable companies to bring their policies into line with its conclusions.

    The author of this post is Pablo Vinageras.

    Una vez convencidos de la utilidad de la mediación como método de solucionar conflictos entre franquiciador y franquiciado y tomada la decisión de incluir en los contratos una cláusula que la prevea, el último paso sería qué elementos debemos tener en cuenta a la hora de redactarla.

    1. La negociación previa. Parece recomendable que ambas partes se concedan la posibilidad de intentar resolver el problema con una negociación formal previa. La mediación no excluye el intento previo llevado a cabo por los interesados o sus abogados, no obstante, parece recomendable que se prevea contractualmente un plazo adecuado a las circunstancias. La experiencia demuestra que alargar demasiado esta fase puede producir como resultado que el conflicto se vaya agravando y resulte más complicado incluso acercarse a la mediación.
    2. La cláusula puede igualmente prever el lugar en el que la mediación se llevará a cabo. De nuevo en este punto las partes son libres. Es conveniente que éste sea preciso indicando la ciudad.
    3. El idioma en el que va a desarrollarse la mediación es facultad de las partes. No habrá dificultad en mediaciones en las que ambas partes usen el mismo idioma, pero es muy conveniente en contratos con partes que los tengan diferentes, o que pertenezcan a regiones o países con diferentes lenguas cooficiales. La redacción o firma del contrato en un idioma concreto no presupone que ese haya de ser el idioma de la mediación. Es un elemento a tener muy en cuenta también a la hora de solicitar un mediador que pueda usar dicho idioma en la institución de mediación elegida.
    4. El procedimiento puede decidirse igualmente por las partes. En particular, el número de sesiones, la duración máxima prevista, la participación de asesores, etc. Téngase en cuenta que la mayor o menor regulación permitirá evitar futuros conflictos al respecto, aunque también supondrá enmarcar más la libertad de las partes que, no obstante, permanecerán libres para modificar de común acuerdo lo pactado.
    5. El plazo de duración de la mediación puede igualmente contemplarse. Ello permitiría, por ejemplo, evitar que la mediación se alargue únicamente con fines estratégicos meramente procesales o para recabar información de la otra parte antes de iniciar un procedimiento, etc. Los mediadores profesionales, no obstante, son capaces de identificar estas maniobras teniendo la facultad también de poner ellos mismos fin a la mediación en caso de constatarlas.
    6. Elegir al mediador o a la institución de mediación es una elección importante. Las partes pueden ponerse de acuerdo sobre quién será su mediador, indicar en el contrato los elementos para elegirlo, o someterse directamente a una Institución de Mediación para que sea ésta quien lo designe conforme a sus propias reglas. Estas decisiones pueden ser alternativas (es decir, que las partes se pongan de acuerdo sobre el mediador y, en caso de falta de acuerdo, someterse a una institución que lo nombre), o pueden ser únicas. La designación de una Institución requiere que tenga la suficiente garantía de estabilidad (evitar designar instituciones de corta trayectoria o sin demasiada garantía de futuro), con un panel suficiente de mediadores en función de las características de la mediación (idioma, competencia, experiencia) y que permita la flexibilidad necesaria para su funcionamiento.
    7. Por último, es conveniente que la cláusula incluya una vía alternativa en caso de que la mediación no llegue a buen puerto bien porque las partes no llegan a un acuerdo, bien porque se retiran de la mediación. Recordemos que la mediación no cierra las puertas a que el conflicto sea resuelto mediante el recurso a la jurisdicción ordinaria o al arbitraje. Y en materia de arbitraje especializado en contratos de distribución el IDArb (https://www.idiproject.com/content/idarb-idi-arbitration-project) es una excelente opción.

    Ignacio Alonso

    Áreas de práctica

    • Agencia
    • Derecho Societario
    • Contratos de distribución
    • Franquicia
    Contáctanos Ignacio

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      Mediación y contratos de franquicia – recomendaciones

      3 de mayo de 2018

      • España
      • Contratos de distribución
      • Franquicia

      Constituye el objeto de la presente Nota el análisis de las nuevas obligaciones que el RDL 6/2019 establece, en materia de igualdad, a cargo de todo tipo de Empresas (con independencia de cuál sea el número de trabajadores) y, concretamente, para aquéllas empresa que cuenten con 50 o más trabajadores.

      La principal novedad que encontramos a este respecto reside en la obligatoriedad, para empresas que cuenten con 50 o más trabajadores, de implantar un plan de igualdad, de conformidad con lo establecido en los artículos 45 y siguientes de la LOIEMH.

      En cuanto al contenido y las condiciones de implantación del Plan de Igualdad en las Empresas, encontramos las siguientes novedades:

      • Se enumeran taxativamente las materias y contenido mínimo que debe recoger todo plan de igualdad.
      • Se introduce, como materia que debe contener el Plan, un análisis sobre la Infrarrepresentación femenina en la Empresa.
      • El diagnóstico que debe realizar la empresa con carácter previo a la elaboración del Plan de Igualdad debe ser negociado con la representación legal de los trabajadores.
      • Se crea un Registro de Planes de Igualdad de las Empresas, en el que deben inscribirse todos los planes de igualdad implantados en las Empresas, con independencia del número de trabajadores que tengan.

      Por otro lado, el RDL 6/2019 da una nueva redacción al artículo 28 del Estatuto de los Trabajadores, que recoge la obligación de la Empresa de cumplir con la exigencia de igualdad de salario entre hombres y mujeres, estableciendo una serie de medidas y obligaciones a cargo de las Empresas, al objeto de procurar el efectivo cumplimiento de la igualdad salarial.

      En concreto, estas nuevas medidas adoptadas en el artículo 28 del ET son las siguientes:

      • Se especifica lo que ha de ser considerado como “trabajo de igual valor”, a fin de facilitar un único concepto y eliminar cualquier duda al respecto.
      • Las Empresas tienen la obligación de llevar un Registro Salarial, con los valores medios de los salarios, los complementos salariales y las percepciones extrasalariales de su plantilla, diferenciados por sexo y distribuidos por grupos profesionales, categorías profesionales o puestos de trabajo iguales o de igual valor.
      • El Registro Salarial deberá ser accesible a la representación legal de los trabajadores.
      • En las empresas con 50 o más trabajadores en las que el promedio de las retribuciones a los trabajadores de un sexo sea superior a los del otro en un 25% o más, deberá incluirse en el Registro Salarial una justificación de dicha diferencia, debiendo acreditar que la misma se debe a motivos ajenos al sexo de los trabajadores.

      El incumplimiento, por parte de las Empresas, de las obligaciones en materia de Igualdad y, en concreto, aquéllas relativas al Plan de Igualdad e Igualdad salarial entre hombres y mujeres, podrán comportar la imposición de importantes sanciones por parte de la Inspección de Trabajo y la TGSS.

      La Ley española del Contrato de Agencia y la Directiva europea prevén para el agente — salvo en ciertos casos —, una indemnización por clientela cuando la relación se termina, en función de la retribución percibida por el Agente durante la vida del contrato. Es, pues, una carga que en general todo empresario tendrá pendiente al terminar el contrato.

      La tentación es intentar librarse de su pago y para ello nos consultan con frecuencia acerca de estrategias o tácticas. A continuación intento resumir algunos de ellos indicando las posibilidades de éxito (o no) que pueden tener, tanto en la fase de negociación/redacción del contrato, como en la fase de resolución.

      1. Cambiar el nombre del contrato

      La primera idea es hacer un contrato “parecido” al de agencia o llamarlo de otra forma (de servicios, de intermediación, de representación…). Ahora bien, el cambio de nombre no tiene ninguna incidencia ya que los contratos “son lo que son” y no lo que las partes los llaman. Así que si hay una intermediación continuada a cambio de una remuneración, hay muchas posibilidades de que un juez lo considere como contrato de agencia, lo llamemos como lo llamemos. Y ello con todas sus consecuencias.

      1. Limitar la indemnización en el contrato

      Otra tentación en la fase de redacción del contrato es acordar una indemnización menor que el máximo previsto legalmente, prever su pago por adelantado mientras dura el contrato, o directamente eliminarla.

      Ninguna de estas soluciones sería válida si intentan disminuir la posibilidad de que el Agente perciba el máximo legal, o por motivos no previstos en la Ley ni la Directiva. La ley manda.

      1. Encadenar varios contratos de agencia

      Dado que la indemnización se calcula según las remuneraciones de los últimos cinco años y de la clientela creada, la tentación es encadenar varios contratos de menor duración para considerar solo los clientes del último período.

      Esto no necesariamente será una buena idea si el último año, por ejemplo, se crearon muchos clientes, pero, además puede resultar inútil porque la ley española y la Directiva prevén que el contrato de duración determinada que continúa ejecutándose se transforma en indefinido. El juez podrá considerar todos los contratos encadenados como uno único.

      Para que esta estrategia tenga posibilidad de ser útil, habría que liquidar cada contrato sustituido, declarar que “nada tienen que reclamarse las partes” y que los sucesivos contratos estén suficientemente separados y tengan diferente entidad, redacción, extensión, etc. Si se plantea bien, podría ser una vía para liberarse de una mayor indemnización por clientela: un pacto bien redactado por el que el agente declara recibida la indemnización, y que el siguiente contrato no reitere miméticamente y de forma inmediata el contenido del anterior.

      1. Someter el contrato a un derecho extranjero

      En contratos internacionales la tentación es someter el contrato a un derecho que no sea el español, en particular, cuando el Principal es de dicha nacionalidad.

      La idea puede ser buena o mala según el derecho elegido y siempre que guarde alguna relación con el negocio. Como se sabe, en la UE la Directiva establece unas condiciones mínimas que las legislaciones nacionales deben respetar. Pero nada impide a estas leyes prever condiciones más ventajosas para los agentes. Esto hace que, por ejemplo, elegir el derecho francés sería, en general, una idea mala para el Principal porque la indemnización en ese país suele ser mayor.

      En algunos casos, la elección de un derecho de fuera de la Unión Europea que no prevea la indemnización por clientela cuando el agente es europeo ha sido rechazada por considerar que se está vulnerando el derecho mínimo reconocido en la Directiva.

      1. Someter el contrato a reglas y jueces no nacionales

      Otra posibilidad menos frecuente es la de someter el contrato a normas no de un país, sino a normas mercantiles generales (Lex Mercatoria) y acordar una indemnización menor.

      Esto no es muy frecuente, y puede no resultar muy útil según quien haya de interpretar el contrato y dónde resida el agente. Si, por ejemplo, el agente reside en España y quien va a interpretar el contrato es un juez español, con mucha probabilidad va a interpretar el contrato según sus propias normas sin verse vinculado por lo que prevea el contrato. De nada habrá servido.

      1. Someter el contrato a arbitraje

      Diferente será la cuestión si el contrato está sometido a arbitraje. En este caso los árbitros, normalmente, no están sometidos necesariamente a interpretar un contrato según las normas nacionales propias si el contrato está sometido a otras diferentes. En este caso sí que cabría la posibilidad de que se sintieran más libres de considerar exclusivamente el contrato, sobre todo cuando el agente no fuera de su nacionalidad, desconociera cuál es el derecho del país del agente y no se viera vinculado por las garantías previstas para su protección.

      1. La mediación en el contrato de agencia

      La mediación es una forma alternativa de solucionar un conflicto que puede usarse también en contratos de agencia. Con ella son las partes, ayudadas por el mediador, quienes resolverían la controversia.

      En este caso, dado que el mediador no es quien decide, es posible que las partes lleguen libremente a un acuerdo por el que el agente se conforme con una indemnización menor si, por ejemplo, se le confieren otras ventajas, reconocimientos, si llega al convencimiento de tener menor derecho, dificultad de prueba, si prefiere ahorrarse otros costes, tiempo, energías para su nuevo negocio, etc.

      Los mediadores velan por el equilibrio de las partes, pero nada impide que ambas concluyan una indemnización menor al máximo legal (tras la conclusión del contrato es posible negociar una inferior a la legal). Prever la mediación en el contrato de agencia, es, por lo tanto, una buena idea para poder abordar y negociar mejor esta indemnización por clientela. Además, prever la mediación no limita los derechos de ninguna de las partes para retirarse y proseguir por la vía judicial exigiendo el máximo legal.

      1. Imputar al agente un incumplimiento previo

      Cuando el contrato termina, esta es, sin duda, la causa que se intenta con más frecuencia: cuando se quiere resolver el contrato, el Principal intenta argumentar que el Agente lo ha incumplido previamente y que por eso se está resolviendo el contrato.

      La ley y la Directiva exceptúan el pago de la indemnización cuando el agente ha incumplido antes. Pero en ese caso, el Principal deberá poder demostrarlo cuando el agente lo discuta. Y no siempre será fácil. El Principal ha de aportar pruebas claras y para ello será conveniente recoger información y documentación sobre el incumplimiento con la suficiente y antelación y de importancia suficiente (no suelen aceptarse incumplimientos menores). Por lo tanto, si el Principal desea seguir este camino, es recomendable preparar los argumentos y las pruebas antes de que finalice el contrato. Es muy recomendable, por tanto, ponerse en contacto con un asesor experto cuanto antes: él lo ayudará a minimizar los riesgos.

      The procedure to incorporate a foreign owned company in Spain is, in principle, easy and straight forward, however it is necessary to take into account certain new requirements derived from the tax and the anti-money laundering regulations, which could cause long delays in the incorporation process, even to EU and US companies, if they are not well advised and managed from the beginning of the procedure.

      The first step consist in collecting information about the foreign shareholder, in order to be able to prove its legal existence and activities: the foreign shareholder(s) will have to grant before a Notary Public in its country of residence a power of attorney authorising somebody in Spain to obtain its tax identification number (“NIE”), and also represent it before the Spanish notary when signing the deed of incorporation. In case the foreign shareholder is an individual person, the NIE should be applied for before the Spanish police or the Spanish Consulate at the country where the investor lives.

      If the shareholder is a corporation, apart from the Power of Attorney, it will have to obtain a certificate from its Companies’ Registry or Chamber of Commerce, stating its legal existence and main characteristics. This document is called “good standing certificate” (in the UK and US), “K-bis” (in France), “KvK” (in the Netherlands) or “visura” (in Italy). These two documents, the Power of Attorney mentioned in the above paragraph and the certificate from the Companies’ Registry, will have to be Apostilled or legalized by the correspondent Ministry, and Sworn translated into Spanish. Please note that we use to draft bilingual powers of attorney in order to avoid its sworn translation.

      The foreign shareholder will have to prove that its income is obtained from legal activities in order to be able to open a bank account in the name of the new company. The main document to prove this could be the Corporate or the Personal Income Tax return filed in its country of residence, but there could be other means, especially in case of individual persons.

      In case of a corporate shareholder, it will be necessary as well to declare, in principle through a public deed granted in Spain, who are the individual persons who, directly or through other companies, will hold more than a 25% interest in the new company to be incorporated. In case nobody holds more than a 25% (i.e. because there are 5 individual shareholders, holding each of them a 20%), it is declared that the effective control of the new company corresponds to its director.

      At this stage, it is also necessary to mention that the person(s) who will be the director(s) of the new company, in case they are foreigners, will also need to obtain their personal “NIE”. The NIE should be applied for before the Spanish police (this could be done by a proxy duly authorised though a Power of Attorney granted by the foreign director) or before the Spanish Consulate nearest to the city where the investor lives. In order to be a director of a Spanish company it is not necessary to be a shareholder, nor to have residence and work permit in Spain (provided the foreign director does not live in Spain).

      Meanwhile the necessary documents (Powers of Attorney, Companies’ Registry certificate, etc.) are being prepared by the foreign shareholder, the lawyer in Spain will apply for the new company’s name. It is advisable to point out that generic or usual names are not available quite often, therefore it is necessary to think in original names. Three different names could be applied for simultaneously.

      The drafting of the company’s Articles of Association or By Laws could be very quick, except if the company is going to have several shareholders and they wish specific clauses. In this case, it is also advisable to draft a Shareholders Agreement. The Shareholders’ Agreement could just contain some basic rules on dedication, compensation, non-competition, etc. and some more sophisticated rules on the sale of shares (tag along and drag along rights). As regards the By-Laws, they should mention the company’s name, its activity or activities, address in Spain –which cannot be just a P.O. Box-, share capital, number of shares and its face value, and starting date for the fiscal year, among other standard clauses.

      The management of the company could be organized through a sole director, two directors who could act jointly or separately, and in case there are more than three directors, they should organize themselves through a Board of Directors, being usual in this case to appoint a C.E.O. In order to be a director it is not necessary to be a shareholder. Under Spanish laws, the director(s) could be held liable for some company’s debts under certain circumstances which are legally defined. For this reason, it is necessary that the directors formally accept their appointment (personally appearing before the Notary or through a Power of Attorney).

      Before the incorporation, it will be necessary that either the new company’s director (the person to be appointed) or the representative of the corporate shareholder appears personally before the bank where the company will have its first bank account and signs the correspondent documents (KYC regulation). Once the bank account is opened, the shareholder will have to send a bank transfer for the new company’s share capital. In Spain, the minimum share capital for a limited company (S.L.) is Euros 3.000, while for a “Sociedad Anónima” (S.A.) it is Euros 60.000, but only 25% should be paid off at the incorporation moment. It is interesting to note that contributions to the share capital could be made in cash – which is the most common operation, especially at the incorporation – or in kind, with any type of assets: real estate, machinery, goods, trademarks, etc. The money for the share capital should be sent to the new company’s bank account from an account owned by the shareholder (or from each account owned by each shareholder, should they be several ones), not by any other different person. Once the Spanish bank receives the transfer, it will issue a certificate, which is necessary in order to incorporate the company.

      Once all the documents are ready, it is possible within very few days (almost immediately) to make the appointment with the Notary and sign the public deed of incorporation. This can be done at any notary in Spain, not being necessary that the notary practises at the same city where the company will have its corporate address. In order to summarize, the list of the necessary documents is:

      • Power(s) of Attorney granted by the foreign shareholder(s), apostilled and sworn translated.
      • Certificate regarding the legal existence of the foreign shareholder (only if it is a corporation), apostilled and sworn translated.
      • Statement on who are the last individual shareholders holding more than 25% interest in the new company, directly or indirectly (only in case of corporate shareholders).
      • NIE of the foreign shareholder(s).
      • NIE of the new company’s director(s), should they be a foreigners.
      • Certificate for the new company’s name.
      • Articles of Association.
      • Bank certificate regarding the contribution to the new company’s share capital.

      The deed of incorporation is signed by the proxy (or the individual shareholder(s), should they prefer to personally appear before the notary) before the chosen public notary, being also necessary to sign an official form to report the foreign investment to a public registry depending on the Spanish Ministry of Finance.

      Once the deed of incorporation is signed, the next steps consist in applying before the tax authorities to obtain the new company’s tax number (NIF / CIF) and filing the deed of incorporation before the Companies’ Registry. Some banks do allow new companies to operate once they have the NIF (which could be 2-3 days after the incorporation), while others request to wait until the deed of incorporation is filed at the Companies’ Registry (2-3 weeks).

      An estimation of the necessary time to complete all the procedure is 30-45 days, but of course the main delay is related to speed of the foreign investor in obtaining the necessary documents.

      Please note that if you wish to incorporate a foreign owned company in Spain it is always necessary to seek specific professional advice, as each case is different and regulations and the application of such regulations vary from time to time. The above article just explains the main steps and requirements for the incorporation of a company.

      Arbitration is a well-known system for dispute resolutions, and works as an alternative to judicial procedures. Parties are free to choose this system and to submit their conflicts to specific arbitrators or institutions.

      It is usually considered that arbitration is a good way to solve conflicts but preferable to those arisen between big corporations or involving important amounts of money. Although this assumption is generally accepted, there is an alternative for distribution disputes suitable for smaller companies and cases with lower amounts claimed.

      And here is the essential question: why a manufacturer/franchisor or a distributor/agent/franchisee should choose a specialized arbitration for their agreements instead of a more general one or, even, a judicial procedure? The answer seems clear: an arbitrator with knowledge not only in procedural questions but in substantive matters will be able to better understand the conflict between the parties and, therefore, to grant a better award. Take into account that, for instance in my Country, Spain, a Judge of First instance can deal in the same day with a distribution contract, a construction case, a conflict between heirs, and a discussion in a community of owners. All of this requires the analysis of different facts and completely different legislations and it is true that specific commercial problems do not usually have judges experts in international trading. But, how to choose a good specialized arbitrator? And, how to choose the arbitral procedure and the institution in terms of organization, neutrality, costs and time?

      The IDArb was created in 2016 by the International Distribution Institute (www.idiproject.com) in collaboration with the Chambre de Commerce d’Industries et de Services de Genève (CCIG www.ccig.ch) and the Swiss Chambers’ Arbitration Institution (SCAI www.swissarbitration.org) and offers to the distribution sector (distribution, agency, franchising, selective distribution) a specialized, expedited and affordable arbitration procedure, not only for big international corporations but also for smaller cases. In fact, the expedited procedure is particularly foreseen for amounts below one million CHF (approx. 880.000 €).

      The objectives and main characteristics of IDArb which make it suitable for all the distribution disputes are:

      1. A list of specialized arbitrators experts in this particular field is available for ad hoc or institutional arbitration and IDArb is able to assist the parties to choose one of them.

      Specialized arbitrators from different countries and legal cultures have been appointed by a Selecting Committee reviewing their experience in one or more fields of distribution law. Therefore, parties can trust that the arbitrator will have concrete skills in the business with an in-depth understanding of the disputed issues. This is not a general knowledge on commercial law, but a concrete one on distribution, expressly verified by the Committee. Parties can even examine some examples of cases in which every arbitrator has been involved in.

      1. In order to maintain its high quality, the IDArb organizes training seminars for its appointed arbitrators. In these seminars, they are able to discuss about the general management of the arbitration, the procedural aspects and how to solve possible incidents in collaboration with the Institutions and their Rules. This will make all the proceedings more manageable and the possible difficulties more easily solved. Last seminar took place in Geneva in November 8, 2018 and participants have discussed, amongst other subjects, on evidences, witnesses and document production.
      2. The expedited arbitration procedure permits the parties to have a tailored procedure managed by SCAI under the Swiss Rules of International Arbitration, specially adapted for small disputes in the field of distribution.
      3. Time is also an essential element: the award in the expedited procedure will be issued in a maximum term of six months (only exceptional circumstances permit the Court to extend such time-limit), and, if parties agree, it can be decided only on documentary evidence.
      4. Costs are reasonable and known in advance.
      5. And, as final but important remark, IDArb has also adopted some recommendations where, upon request of the parties, mediation is favoured, the arbitrator my consider giving a preliminary non-binding and provisional assessment of the dispute and should have a pro-active position in order to facilitate an amicable settlement.

      Spanish Law on Entrepreneurship (Law 14/2013) has approved new cases where foreigners from non-European Union countries can obtain the residence permit in Spain through the execution of investments:

      1. Investments in real estate for an amount equal or higher than € 500.000 (Five Hundred Thousand Euros). The investment can be made in one or more properties, but at least € 500.000 should be free of encumbrances (mortgage, i.e.). If the price is higher than € 500.000, the rest of the amount could be paid through mortgage.
      2. Financial investments for a value equal or higher than 1 million Euros. This type of investment includes listed and non-listed shares, in case of non-listed shares they could be from already operating companies or newly incorporated ones, investment funds, and deposits in Spanish banks.
      3. Investment in Spanish sovereign debt for an amount equal or higher than 2 million Euros.
      4. To carry on a business project in Spain that was considered as being of public interest. To this purpose, one of these conditions should be met: creation of jobs, execution of an investment that has a positive impact in the region where it is located, or a relevant contribution to scientific or technological innovation.

      The visa granted through the execution of these investments is valid during at least one year, and in order to obtain the residence permit some other requirements should be met:

      • to not stay previously in Spain in an illegal situation,
      • to have more than 18 years,
      • to not have criminal records,
      • to have a health insurance (hired from a company operating in Spain)
      • to have financial means for the stay in Spain (i.e. a bank deposit, or income from leases or dividends. Payroll does not qualify for this purpose).

      If the above requirements are met, a two years residence and work permit could be granted. After this term, the residence permit can be extended for successive five years periods. The investments should be kept during all these periods. This permit does not request the foreigner to live in Spain for more than six months; therefore it will not be cancelled if the foreigner lives in another country.

      The residence and work permit is granted to the individual who executes the investment. If he/she is married and/or has children or ancestors who depend on the investor, it is possible to apply for their visa at the same time or later on. It is possible to execute the investment through a company owned by the investor, provided it is not a company domiciled in a tax heaven country.

      The Spanish visa allows free movements within the EU countries (Schengen space). The valid travelling document is the passport.

      Foreigners who wish to carry on a self-employment project in Spain could obtain the work and residence permit, but through a different procedure than the above mentioned, and these cases the minimum investment amount is lower.

      Investment in real estate

      The investment in real estate could be in residential, commercial or industrial properties. The property could be leased to third parties before or after the acquisition, or used by the investor. For ambitious investors, there are several possibilities to structure the investment in buildings and apartments and to a higher return of the investment.

      There are some costs related to the acquisition of real estate: the acquisition itself is taxed by Transfer Tax at rates ranging from 6 to 10% on the acquisition price, depending on each Spanish region where the property is located, to be paid by the buyer. Besides, the buyer should pay the Notary Public and Property Registrar’s fees, which approximately amount 3% of the acquisition price (the addition of both of them). These amounts are paid once, when the property is acquired.

      The annual costs related to the ownership of real estate in Spain are the following ones:

      • IBI or local property tax, whose amount is calculated based on the value and location of the property.
      • “Community expenses”, that is those expenses related to the maintenance of the common areas of the building where the property is located: cleaning, lighting, etc.
      • In some cases, also a small tax for garbage should be paid to the Town Council.
      • Owners should file the Spanish Personal Income Tax Return, and pay a percentage between 1,1% and 2% of the property’s “cadastral value” (official value), in case the property is not leased to a third party. If the property is leased, the owner should also file the Personal Income Tax Return based on the amounts obtained from the lease.

      Besides, owners should also pay the expenses related to their property: ordinary maintenance expenses, insurance, electricity and water, etc.

      In Spain, the property right is considered as a full right, which implies that the owner can use the property by himself, can lease it to third parties, can mortgage or encumber it, can sell or gift it to any third party and can pass it to his heirs through a will.

      The only limits to the use of the property by its owner or the persons appointed by him are those established by the civic rules regarding noises, pets, exterior image of the property, etc.

      Regarding the lease of the property, in principle it is free, and the rights and obligations of landlord and tenant are those provided by the private lease agreement entered between both parties and the Spanish Urban Leases Law (Ley de Arrendamientos Urbanos). However, nowadays many Spanish cities (and specially Barcelona) have approved strong limits to the so called touristic leases, which are the short term (days or weeks) leases, and request a special license.

      It is important to point out that foreigners who become residents in Spain can grant their will according to Spanish inheritance laws (according to EU Regulation 650/2012), which slightly vary depending on each Spanish region. In Catalonia, for example, the testator can freely appoint who will be his heirs.

      Financial investment

      Financial investments can be executed through different types of targets, being always the minimum amount 1 million Euros:

      • Shares of companies listed in the Spanish Stock Market.
      • Shares of non-listed companies, which could be already operating companies or newly incorporated ones. In both cases, there are no limits as regards the percentage of shares that can be owned by foreigners, and the activity sectors restricted to non EU foreign investment are very few (gambling, defense, aviation, TV and radio). Foreigners can be appointed Directors of Spanish companies with the only requirement of having previously obtained the so called “N.I.E.”, which is the Spanish identification number for foreigners.

      In case of a newly incorporated company, the € 1 million requested as investment would constitute the company’s share capital, and can be used for the startup of the company’s activities: for example, acquisition of goods, payment of salaries and rentals, payment of purveyors and subcontractors, etc.

      Spanish companies have access to all European markets and have a privileged position for trading with Latin American countries.

      • Investment funds: Spanish financial entities offer a very wide range of investment funds, from very conservative to high risk.

      Deposit in a bank

      The main advantage of a real estate investment compared to a financial investment is that the requested amount is only € 500.000 for real estate, while for a financial investment is twice this amount. During the past years since the Law on Entrepreneurship became in force, investment in real estate has been the most popular way for obtaining the residence permit in Spain, probably because at that time (2013-2016) real estate market prices were quite low due to the crash in 2008.

      However, the process to acquire a property in Spain is not so easy compared to the acquisition of a share in an investment fund or making a bank deposit: the investor has to choose the property, which normally requires one or two visits to Spain, the price and sale conditions have to negotiated and drafted, the purchase deed has to be signed before a Notary Public (by the investor or his proxy), there are taxes and expenses related to the acquisition, and once the property is acquired, it is necessary to pay ongoing expenses and taxes, and maintain the property in good condition.

      Compared to this, the investment in funds or making a bank deposit only requires one visit to the bank by the investor, in order to sign the correspondent documents.  There are not related taxes or expenses, and the liquidity of the investment is  full  (that is,  the investment can be sold at any moment,  quite probably at the same or  at a higher price, but this is not guaranteed for real estate investments).

      How to open and operate a bank account in Spain

      In Spain, banks apply the regulations regarding anti-money laundering, which include the KYC (Know Your Client) rules and the obligation to prove the legal origin of the funds. The KYC rules imply the need for the investor to appear personally before the bank at least once, previously to operating the bank account. The legal origin of the funds can be proved through different means:

      • In case of employees, through the payroll splits, or a certificate issued by the employer, or the investor’s personal income tax return.
      • In case of self-employed individuals, through their personal income tax return, or another type of documents proving their professional activity.
      • In case of company owners, through the company’s financial statements.
      • If the investor has obtained the funds necessary for the investment through personal loans, the loan agreements should be provided, plus the documents proving the legal origin of the funds provided by the lenders.
      • Other documents, for example, regarding dividends or income from the lease of properties owned by the investor could be provided.

      All documents should be legalized by a Notary Public or the Spanish Consulate, and sworn translated into Spanish.

      Please note that this article is aimed to provide a general overview on Spanish rules regarding the above matters, but it does not constitute any kind of comprehensive information on them, and in any case specific legal advice should be sought prior to taking any decision.

      En todas las operaciones de M&A una de las cuestiones que merece un capítulo especial en cuanto a su análisis, determinación y negociación son las contingencias fiscales. Aunque las partes puedan estar más o menos de acuerdo en el importe de dichas contingencias, negociar las posibles garantías que ha de otorgar el vendedor a fin de proteger al comprador de una posible reclamación por parte de las autoridades fiscales, el plazo de duración de las mismas, así como acordar los mecanismos de comunicación entre las partes (comprador y vendedor) y de defensa legal en caso de que se produzca tal reclamación, requiere ingentes esfuerzos negociadores.

      Cuando la operación de adquisición no se formaliza mediante la compra de las acciones o participaciones sociales de la sociedad que es objeto de adquisición (“shares deal”), sino mediante de la compra de los activos que forman una unidad productiva (“assets deal”), la Ley General Tributaria (LGT) española establece un mecanismo que supone una excepción al principio, establecido por el artículo 42 de la misma Ley, consistente en establecer la responsabilidad solidaria del adquirente de una unidad productiva por las deudas tributarias contraídas por el anterior titular (“responsabilidad por sucesión de empresa”). Esto es, en principio, de acuerdo con el artículo 42 de la LGT, “serán responsables solidarios de la deuda tributaria las personas o entidades que sucedan por cualquier concepto en la titularidad o ejercicio de explotaciones o actividades económicas, por las obligaciones tributarias contraídas del anterior titular y derivadas de su ejercicio”.

      Sin embargo, esta responsabilidad solidaria del adquirente se puede limitar mediante la solicitud a las autoridades fiscales del certificado que regula el artículo 175.2 de la LGT. El certificado debe solicitarlo el que pretende adquirir la titularidad de una explotación económica, de conformidad con el titular actual, y la responsabilidad del adquirente queda limitada a las deudas, sanciones y responsabilidades mencionadas en la certificación. Si la certificación se expide sin mencionar importe alguno, o bien la Administración no la expide en el plazo de tres meses desde la solicitud, el solicitante quedará exento de la responsabilidad fiscal solidaria por sucesión de empresa.

      La certificación del artículo 175.2 de la LGT puede incluir las deudas por retenciones a cuenta del IRPF, las cuales en el caso de empresas con una gran número de trabajadores pueden ser de un importe elevado, sin embargo la responsabilidad solidaria del adquirente por sueldos, salarios y cuotas de seguridad social no puede limitarse mediante la solicitud de este certificado, sino que siempre sería solidaria con el transmitente de la unidad de negocio.

      La solicitud del certificado debe realizarse antes de formalizar la adquisición de la unidad productiva, aunque su emisión tenga lugar después de dicha adquisición (por supuesto, la posición prudente es no cerrar la adquisición hasta no disponer del certificado). La duración de este certificado es de un año, para el caso de obligaciones fiscales periódicas (por ejemplo, Impuesto sobre el Valor Añadido, Impuesto de Sociedades, retenciones a cuenta de Impuesto sobre la Renta de las Personas Físicas), y de tres meses para el caso de obligaciones fiscales no periódicas.

      Es muy importante solicitar el certificado correcto (“a efectos de sucesión de empresa de acuerdo con lo establecido en el art. 175.2 de la LGT”), y no confundirlo por ejemplo con el certificado referente a estar al corriente de las obligaciones tributarias, pues abundan en la jurisprudencia los casos de adquirentes de empresas que, habiendo solicitado un certificado erróneo a las autoridades fiscales y habiendo obtenido un certificado que no mostraba responsabilidades fiscales, posteriormente han sido condenados a pagar, en calidad de responsables solidarios, las deudas fiscales de la empresa transmitente.

      The remuneration of directors is an intricate issue and one that deserves adequate treatment. Recently there has been a turn that deserves special attention.

      In its judgment of February 26, 2018, the Supreme Court modified the interpretation given by most experts and authorities and by the Directorate-General of Registries and the Notarial Profession in its decision dated June 17, 2016, ratified by the Barcelona Provincial Appellate Court in its decision 295/2017 of June 30, 2017, on the regulation of executive directors’ compensation.

      In its judgment, the Supreme Court held that the compensation of directors “in their capacity as such” includes the compensation of both deliberative and executive functions and that, accordingly, approval of the compensation of directors who discharge executive functions is subject not only to article 249 of the Corporate Enterprises Law (i.e., the requirement for there to be a contract approved by a two-thirds majority of the board) but also to article 217. Consequently:

      1. the bylaws must stipulate the compensation scheme for executive functions (although no reference is made to amount); and
      2. the amount payable for the discharge of executive functions must be included in the maximum annual amount stipulated by the shareholders’ meeting.

      The judgment was handed down in connection with a limited liability company and, furthermore, some of its considerations refer specifically to unlisted companies, although it does not clearly and indubitably exclude listed companies (which are, however, subject to specific rules under the compensation policy).

      The publication of this Supreme Court judgment gives rise to the need for an individualized analysis of each specific case, so that the appropriate measures can be taken to enable companies to bring their policies into line with its conclusions.

      The author of this post is Pablo Vinageras.

      Una vez convencidos de la utilidad de la mediación como método de solucionar conflictos entre franquiciador y franquiciado y tomada la decisión de incluir en los contratos una cláusula que la prevea, el último paso sería qué elementos debemos tener en cuenta a la hora de redactarla.

      1. La negociación previa. Parece recomendable que ambas partes se concedan la posibilidad de intentar resolver el problema con una negociación formal previa. La mediación no excluye el intento previo llevado a cabo por los interesados o sus abogados, no obstante, parece recomendable que se prevea contractualmente un plazo adecuado a las circunstancias. La experiencia demuestra que alargar demasiado esta fase puede producir como resultado que el conflicto se vaya agravando y resulte más complicado incluso acercarse a la mediación.
      2. La cláusula puede igualmente prever el lugar en el que la mediación se llevará a cabo. De nuevo en este punto las partes son libres. Es conveniente que éste sea preciso indicando la ciudad.
      3. El idioma en el que va a desarrollarse la mediación es facultad de las partes. No habrá dificultad en mediaciones en las que ambas partes usen el mismo idioma, pero es muy conveniente en contratos con partes que los tengan diferentes, o que pertenezcan a regiones o países con diferentes lenguas cooficiales. La redacción o firma del contrato en un idioma concreto no presupone que ese haya de ser el idioma de la mediación. Es un elemento a tener muy en cuenta también a la hora de solicitar un mediador que pueda usar dicho idioma en la institución de mediación elegida.
      4. El procedimiento puede decidirse igualmente por las partes. En particular, el número de sesiones, la duración máxima prevista, la participación de asesores, etc. Téngase en cuenta que la mayor o menor regulación permitirá evitar futuros conflictos al respecto, aunque también supondrá enmarcar más la libertad de las partes que, no obstante, permanecerán libres para modificar de común acuerdo lo pactado.
      5. El plazo de duración de la mediación puede igualmente contemplarse. Ello permitiría, por ejemplo, evitar que la mediación se alargue únicamente con fines estratégicos meramente procesales o para recabar información de la otra parte antes de iniciar un procedimiento, etc. Los mediadores profesionales, no obstante, son capaces de identificar estas maniobras teniendo la facultad también de poner ellos mismos fin a la mediación en caso de constatarlas.
      6. Elegir al mediador o a la institución de mediación es una elección importante. Las partes pueden ponerse de acuerdo sobre quién será su mediador, indicar en el contrato los elementos para elegirlo, o someterse directamente a una Institución de Mediación para que sea ésta quien lo designe conforme a sus propias reglas. Estas decisiones pueden ser alternativas (es decir, que las partes se pongan de acuerdo sobre el mediador y, en caso de falta de acuerdo, someterse a una institución que lo nombre), o pueden ser únicas. La designación de una Institución requiere que tenga la suficiente garantía de estabilidad (evitar designar instituciones de corta trayectoria o sin demasiada garantía de futuro), con un panel suficiente de mediadores en función de las características de la mediación (idioma, competencia, experiencia) y que permita la flexibilidad necesaria para su funcionamiento.
      7. Por último, es conveniente que la cláusula incluya una vía alternativa en caso de que la mediación no llegue a buen puerto bien porque las partes no llegan a un acuerdo, bien porque se retiran de la mediación. Recordemos que la mediación no cierra las puertas a que el conflicto sea resuelto mediante el recurso a la jurisdicción ordinaria o al arbitraje. Y en materia de arbitraje especializado en contratos de distribución el IDArb (https://www.idiproject.com/content/idarb-idi-arbitration-project) es una excelente opción.

      Ignacio Alonso

      Áreas de práctica

      • Agencia
      • Derecho Societario
      • Contratos de distribución
      • Franquicia
      Contáctanos Ignacio

      Contacta con Ignacio





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        Mediación y contratos de franquicia

        12 de abril de 2018

        • España
        • Contratos de distribución
        • Franquicia

        Constituye el objeto de la presente Nota el análisis de las nuevas obligaciones que el RDL 6/2019 establece, en materia de igualdad, a cargo de todo tipo de Empresas (con independencia de cuál sea el número de trabajadores) y, concretamente, para aquéllas empresa que cuenten con 50 o más trabajadores.

        La principal novedad que encontramos a este respecto reside en la obligatoriedad, para empresas que cuenten con 50 o más trabajadores, de implantar un plan de igualdad, de conformidad con lo establecido en los artículos 45 y siguientes de la LOIEMH.

        En cuanto al contenido y las condiciones de implantación del Plan de Igualdad en las Empresas, encontramos las siguientes novedades:

        • Se enumeran taxativamente las materias y contenido mínimo que debe recoger todo plan de igualdad.
        • Se introduce, como materia que debe contener el Plan, un análisis sobre la Infrarrepresentación femenina en la Empresa.
        • El diagnóstico que debe realizar la empresa con carácter previo a la elaboración del Plan de Igualdad debe ser negociado con la representación legal de los trabajadores.
        • Se crea un Registro de Planes de Igualdad de las Empresas, en el que deben inscribirse todos los planes de igualdad implantados en las Empresas, con independencia del número de trabajadores que tengan.

        Por otro lado, el RDL 6/2019 da una nueva redacción al artículo 28 del Estatuto de los Trabajadores, que recoge la obligación de la Empresa de cumplir con la exigencia de igualdad de salario entre hombres y mujeres, estableciendo una serie de medidas y obligaciones a cargo de las Empresas, al objeto de procurar el efectivo cumplimiento de la igualdad salarial.

        En concreto, estas nuevas medidas adoptadas en el artículo 28 del ET son las siguientes:

        • Se especifica lo que ha de ser considerado como “trabajo de igual valor”, a fin de facilitar un único concepto y eliminar cualquier duda al respecto.
        • Las Empresas tienen la obligación de llevar un Registro Salarial, con los valores medios de los salarios, los complementos salariales y las percepciones extrasalariales de su plantilla, diferenciados por sexo y distribuidos por grupos profesionales, categorías profesionales o puestos de trabajo iguales o de igual valor.
        • El Registro Salarial deberá ser accesible a la representación legal de los trabajadores.
        • En las empresas con 50 o más trabajadores en las que el promedio de las retribuciones a los trabajadores de un sexo sea superior a los del otro en un 25% o más, deberá incluirse en el Registro Salarial una justificación de dicha diferencia, debiendo acreditar que la misma se debe a motivos ajenos al sexo de los trabajadores.

        El incumplimiento, por parte de las Empresas, de las obligaciones en materia de Igualdad y, en concreto, aquéllas relativas al Plan de Igualdad e Igualdad salarial entre hombres y mujeres, podrán comportar la imposición de importantes sanciones por parte de la Inspección de Trabajo y la TGSS.

        La Ley española del Contrato de Agencia y la Directiva europea prevén para el agente — salvo en ciertos casos —, una indemnización por clientela cuando la relación se termina, en función de la retribución percibida por el Agente durante la vida del contrato. Es, pues, una carga que en general todo empresario tendrá pendiente al terminar el contrato.

        La tentación es intentar librarse de su pago y para ello nos consultan con frecuencia acerca de estrategias o tácticas. A continuación intento resumir algunos de ellos indicando las posibilidades de éxito (o no) que pueden tener, tanto en la fase de negociación/redacción del contrato, como en la fase de resolución.

        1. Cambiar el nombre del contrato

        La primera idea es hacer un contrato “parecido” al de agencia o llamarlo de otra forma (de servicios, de intermediación, de representación…). Ahora bien, el cambio de nombre no tiene ninguna incidencia ya que los contratos “son lo que son” y no lo que las partes los llaman. Así que si hay una intermediación continuada a cambio de una remuneración, hay muchas posibilidades de que un juez lo considere como contrato de agencia, lo llamemos como lo llamemos. Y ello con todas sus consecuencias.

        1. Limitar la indemnización en el contrato

        Otra tentación en la fase de redacción del contrato es acordar una indemnización menor que el máximo previsto legalmente, prever su pago por adelantado mientras dura el contrato, o directamente eliminarla.

        Ninguna de estas soluciones sería válida si intentan disminuir la posibilidad de que el Agente perciba el máximo legal, o por motivos no previstos en la Ley ni la Directiva. La ley manda.

        1. Encadenar varios contratos de agencia

        Dado que la indemnización se calcula según las remuneraciones de los últimos cinco años y de la clientela creada, la tentación es encadenar varios contratos de menor duración para considerar solo los clientes del último período.

        Esto no necesariamente será una buena idea si el último año, por ejemplo, se crearon muchos clientes, pero, además puede resultar inútil porque la ley española y la Directiva prevén que el contrato de duración determinada que continúa ejecutándose se transforma en indefinido. El juez podrá considerar todos los contratos encadenados como uno único.

        Para que esta estrategia tenga posibilidad de ser útil, habría que liquidar cada contrato sustituido, declarar que “nada tienen que reclamarse las partes” y que los sucesivos contratos estén suficientemente separados y tengan diferente entidad, redacción, extensión, etc. Si se plantea bien, podría ser una vía para liberarse de una mayor indemnización por clientela: un pacto bien redactado por el que el agente declara recibida la indemnización, y que el siguiente contrato no reitere miméticamente y de forma inmediata el contenido del anterior.

        1. Someter el contrato a un derecho extranjero

        En contratos internacionales la tentación es someter el contrato a un derecho que no sea el español, en particular, cuando el Principal es de dicha nacionalidad.

        La idea puede ser buena o mala según el derecho elegido y siempre que guarde alguna relación con el negocio. Como se sabe, en la UE la Directiva establece unas condiciones mínimas que las legislaciones nacionales deben respetar. Pero nada impide a estas leyes prever condiciones más ventajosas para los agentes. Esto hace que, por ejemplo, elegir el derecho francés sería, en general, una idea mala para el Principal porque la indemnización en ese país suele ser mayor.

        En algunos casos, la elección de un derecho de fuera de la Unión Europea que no prevea la indemnización por clientela cuando el agente es europeo ha sido rechazada por considerar que se está vulnerando el derecho mínimo reconocido en la Directiva.

        1. Someter el contrato a reglas y jueces no nacionales

        Otra posibilidad menos frecuente es la de someter el contrato a normas no de un país, sino a normas mercantiles generales (Lex Mercatoria) y acordar una indemnización menor.

        Esto no es muy frecuente, y puede no resultar muy útil según quien haya de interpretar el contrato y dónde resida el agente. Si, por ejemplo, el agente reside en España y quien va a interpretar el contrato es un juez español, con mucha probabilidad va a interpretar el contrato según sus propias normas sin verse vinculado por lo que prevea el contrato. De nada habrá servido.

        1. Someter el contrato a arbitraje

        Diferente será la cuestión si el contrato está sometido a arbitraje. En este caso los árbitros, normalmente, no están sometidos necesariamente a interpretar un contrato según las normas nacionales propias si el contrato está sometido a otras diferentes. En este caso sí que cabría la posibilidad de que se sintieran más libres de considerar exclusivamente el contrato, sobre todo cuando el agente no fuera de su nacionalidad, desconociera cuál es el derecho del país del agente y no se viera vinculado por las garantías previstas para su protección.

        1. La mediación en el contrato de agencia

        La mediación es una forma alternativa de solucionar un conflicto que puede usarse también en contratos de agencia. Con ella son las partes, ayudadas por el mediador, quienes resolverían la controversia.

        En este caso, dado que el mediador no es quien decide, es posible que las partes lleguen libremente a un acuerdo por el que el agente se conforme con una indemnización menor si, por ejemplo, se le confieren otras ventajas, reconocimientos, si llega al convencimiento de tener menor derecho, dificultad de prueba, si prefiere ahorrarse otros costes, tiempo, energías para su nuevo negocio, etc.

        Los mediadores velan por el equilibrio de las partes, pero nada impide que ambas concluyan una indemnización menor al máximo legal (tras la conclusión del contrato es posible negociar una inferior a la legal). Prever la mediación en el contrato de agencia, es, por lo tanto, una buena idea para poder abordar y negociar mejor esta indemnización por clientela. Además, prever la mediación no limita los derechos de ninguna de las partes para retirarse y proseguir por la vía judicial exigiendo el máximo legal.

        1. Imputar al agente un incumplimiento previo

        Cuando el contrato termina, esta es, sin duda, la causa que se intenta con más frecuencia: cuando se quiere resolver el contrato, el Principal intenta argumentar que el Agente lo ha incumplido previamente y que por eso se está resolviendo el contrato.

        La ley y la Directiva exceptúan el pago de la indemnización cuando el agente ha incumplido antes. Pero en ese caso, el Principal deberá poder demostrarlo cuando el agente lo discuta. Y no siempre será fácil. El Principal ha de aportar pruebas claras y para ello será conveniente recoger información y documentación sobre el incumplimiento con la suficiente y antelación y de importancia suficiente (no suelen aceptarse incumplimientos menores). Por lo tanto, si el Principal desea seguir este camino, es recomendable preparar los argumentos y las pruebas antes de que finalice el contrato. Es muy recomendable, por tanto, ponerse en contacto con un asesor experto cuanto antes: él lo ayudará a minimizar los riesgos.

        The procedure to incorporate a foreign owned company in Spain is, in principle, easy and straight forward, however it is necessary to take into account certain new requirements derived from the tax and the anti-money laundering regulations, which could cause long delays in the incorporation process, even to EU and US companies, if they are not well advised and managed from the beginning of the procedure.

        The first step consist in collecting information about the foreign shareholder, in order to be able to prove its legal existence and activities: the foreign shareholder(s) will have to grant before a Notary Public in its country of residence a power of attorney authorising somebody in Spain to obtain its tax identification number (“NIE”), and also represent it before the Spanish notary when signing the deed of incorporation. In case the foreign shareholder is an individual person, the NIE should be applied for before the Spanish police or the Spanish Consulate at the country where the investor lives.

        If the shareholder is a corporation, apart from the Power of Attorney, it will have to obtain a certificate from its Companies’ Registry or Chamber of Commerce, stating its legal existence and main characteristics. This document is called “good standing certificate” (in the UK and US), “K-bis” (in France), “KvK” (in the Netherlands) or “visura” (in Italy). These two documents, the Power of Attorney mentioned in the above paragraph and the certificate from the Companies’ Registry, will have to be Apostilled or legalized by the correspondent Ministry, and Sworn translated into Spanish. Please note that we use to draft bilingual powers of attorney in order to avoid its sworn translation.

        The foreign shareholder will have to prove that its income is obtained from legal activities in order to be able to open a bank account in the name of the new company. The main document to prove this could be the Corporate or the Personal Income Tax return filed in its country of residence, but there could be other means, especially in case of individual persons.

        In case of a corporate shareholder, it will be necessary as well to declare, in principle through a public deed granted in Spain, who are the individual persons who, directly or through other companies, will hold more than a 25% interest in the new company to be incorporated. In case nobody holds more than a 25% (i.e. because there are 5 individual shareholders, holding each of them a 20%), it is declared that the effective control of the new company corresponds to its director.

        At this stage, it is also necessary to mention that the person(s) who will be the director(s) of the new company, in case they are foreigners, will also need to obtain their personal “NIE”. The NIE should be applied for before the Spanish police (this could be done by a proxy duly authorised though a Power of Attorney granted by the foreign director) or before the Spanish Consulate nearest to the city where the investor lives. In order to be a director of a Spanish company it is not necessary to be a shareholder, nor to have residence and work permit in Spain (provided the foreign director does not live in Spain).

        Meanwhile the necessary documents (Powers of Attorney, Companies’ Registry certificate, etc.) are being prepared by the foreign shareholder, the lawyer in Spain will apply for the new company’s name. It is advisable to point out that generic or usual names are not available quite often, therefore it is necessary to think in original names. Three different names could be applied for simultaneously.

        The drafting of the company’s Articles of Association or By Laws could be very quick, except if the company is going to have several shareholders and they wish specific clauses. In this case, it is also advisable to draft a Shareholders Agreement. The Shareholders’ Agreement could just contain some basic rules on dedication, compensation, non-competition, etc. and some more sophisticated rules on the sale of shares (tag along and drag along rights). As regards the By-Laws, they should mention the company’s name, its activity or activities, address in Spain –which cannot be just a P.O. Box-, share capital, number of shares and its face value, and starting date for the fiscal year, among other standard clauses.

        The management of the company could be organized through a sole director, two directors who could act jointly or separately, and in case there are more than three directors, they should organize themselves through a Board of Directors, being usual in this case to appoint a C.E.O. In order to be a director it is not necessary to be a shareholder. Under Spanish laws, the director(s) could be held liable for some company’s debts under certain circumstances which are legally defined. For this reason, it is necessary that the directors formally accept their appointment (personally appearing before the Notary or through a Power of Attorney).

        Before the incorporation, it will be necessary that either the new company’s director (the person to be appointed) or the representative of the corporate shareholder appears personally before the bank where the company will have its first bank account and signs the correspondent documents (KYC regulation). Once the bank account is opened, the shareholder will have to send a bank transfer for the new company’s share capital. In Spain, the minimum share capital for a limited company (S.L.) is Euros 3.000, while for a “Sociedad Anónima” (S.A.) it is Euros 60.000, but only 25% should be paid off at the incorporation moment. It is interesting to note that contributions to the share capital could be made in cash – which is the most common operation, especially at the incorporation – or in kind, with any type of assets: real estate, machinery, goods, trademarks, etc. The money for the share capital should be sent to the new company’s bank account from an account owned by the shareholder (or from each account owned by each shareholder, should they be several ones), not by any other different person. Once the Spanish bank receives the transfer, it will issue a certificate, which is necessary in order to incorporate the company.

        Once all the documents are ready, it is possible within very few days (almost immediately) to make the appointment with the Notary and sign the public deed of incorporation. This can be done at any notary in Spain, not being necessary that the notary practises at the same city where the company will have its corporate address. In order to summarize, the list of the necessary documents is:

        • Power(s) of Attorney granted by the foreign shareholder(s), apostilled and sworn translated.
        • Certificate regarding the legal existence of the foreign shareholder (only if it is a corporation), apostilled and sworn translated.
        • Statement on who are the last individual shareholders holding more than 25% interest in the new company, directly or indirectly (only in case of corporate shareholders).
        • NIE of the foreign shareholder(s).
        • NIE of the new company’s director(s), should they be a foreigners.
        • Certificate for the new company’s name.
        • Articles of Association.
        • Bank certificate regarding the contribution to the new company’s share capital.

        The deed of incorporation is signed by the proxy (or the individual shareholder(s), should they prefer to personally appear before the notary) before the chosen public notary, being also necessary to sign an official form to report the foreign investment to a public registry depending on the Spanish Ministry of Finance.

        Once the deed of incorporation is signed, the next steps consist in applying before the tax authorities to obtain the new company’s tax number (NIF / CIF) and filing the deed of incorporation before the Companies’ Registry. Some banks do allow new companies to operate once they have the NIF (which could be 2-3 days after the incorporation), while others request to wait until the deed of incorporation is filed at the Companies’ Registry (2-3 weeks).

        An estimation of the necessary time to complete all the procedure is 30-45 days, but of course the main delay is related to speed of the foreign investor in obtaining the necessary documents.

        Please note that if you wish to incorporate a foreign owned company in Spain it is always necessary to seek specific professional advice, as each case is different and regulations and the application of such regulations vary from time to time. The above article just explains the main steps and requirements for the incorporation of a company.

        Arbitration is a well-known system for dispute resolutions, and works as an alternative to judicial procedures. Parties are free to choose this system and to submit their conflicts to specific arbitrators or institutions.

        It is usually considered that arbitration is a good way to solve conflicts but preferable to those arisen between big corporations or involving important amounts of money. Although this assumption is generally accepted, there is an alternative for distribution disputes suitable for smaller companies and cases with lower amounts claimed.

        And here is the essential question: why a manufacturer/franchisor or a distributor/agent/franchisee should choose a specialized arbitration for their agreements instead of a more general one or, even, a judicial procedure? The answer seems clear: an arbitrator with knowledge not only in procedural questions but in substantive matters will be able to better understand the conflict between the parties and, therefore, to grant a better award. Take into account that, for instance in my Country, Spain, a Judge of First instance can deal in the same day with a distribution contract, a construction case, a conflict between heirs, and a discussion in a community of owners. All of this requires the analysis of different facts and completely different legislations and it is true that specific commercial problems do not usually have judges experts in international trading. But, how to choose a good specialized arbitrator? And, how to choose the arbitral procedure and the institution in terms of organization, neutrality, costs and time?

        The IDArb was created in 2016 by the International Distribution Institute (www.idiproject.com) in collaboration with the Chambre de Commerce d’Industries et de Services de Genève (CCIG www.ccig.ch) and the Swiss Chambers’ Arbitration Institution (SCAI www.swissarbitration.org) and offers to the distribution sector (distribution, agency, franchising, selective distribution) a specialized, expedited and affordable arbitration procedure, not only for big international corporations but also for smaller cases. In fact, the expedited procedure is particularly foreseen for amounts below one million CHF (approx. 880.000 €).

        The objectives and main characteristics of IDArb which make it suitable for all the distribution disputes are:

        1. A list of specialized arbitrators experts in this particular field is available for ad hoc or institutional arbitration and IDArb is able to assist the parties to choose one of them.

        Specialized arbitrators from different countries and legal cultures have been appointed by a Selecting Committee reviewing their experience in one or more fields of distribution law. Therefore, parties can trust that the arbitrator will have concrete skills in the business with an in-depth understanding of the disputed issues. This is not a general knowledge on commercial law, but a concrete one on distribution, expressly verified by the Committee. Parties can even examine some examples of cases in which every arbitrator has been involved in.

        1. In order to maintain its high quality, the IDArb organizes training seminars for its appointed arbitrators. In these seminars, they are able to discuss about the general management of the arbitration, the procedural aspects and how to solve possible incidents in collaboration with the Institutions and their Rules. This will make all the proceedings more manageable and the possible difficulties more easily solved. Last seminar took place in Geneva in November 8, 2018 and participants have discussed, amongst other subjects, on evidences, witnesses and document production.
        2. The expedited arbitration procedure permits the parties to have a tailored procedure managed by SCAI under the Swiss Rules of International Arbitration, specially adapted for small disputes in the field of distribution.
        3. Time is also an essential element: the award in the expedited procedure will be issued in a maximum term of six months (only exceptional circumstances permit the Court to extend such time-limit), and, if parties agree, it can be decided only on documentary evidence.
        4. Costs are reasonable and known in advance.
        5. And, as final but important remark, IDArb has also adopted some recommendations where, upon request of the parties, mediation is favoured, the arbitrator my consider giving a preliminary non-binding and provisional assessment of the dispute and should have a pro-active position in order to facilitate an amicable settlement.

        Spanish Law on Entrepreneurship (Law 14/2013) has approved new cases where foreigners from non-European Union countries can obtain the residence permit in Spain through the execution of investments:

        1. Investments in real estate for an amount equal or higher than € 500.000 (Five Hundred Thousand Euros). The investment can be made in one or more properties, but at least € 500.000 should be free of encumbrances (mortgage, i.e.). If the price is higher than € 500.000, the rest of the amount could be paid through mortgage.
        2. Financial investments for a value equal or higher than 1 million Euros. This type of investment includes listed and non-listed shares, in case of non-listed shares they could be from already operating companies or newly incorporated ones, investment funds, and deposits in Spanish banks.
        3. Investment in Spanish sovereign debt for an amount equal or higher than 2 million Euros.
        4. To carry on a business project in Spain that was considered as being of public interest. To this purpose, one of these conditions should be met: creation of jobs, execution of an investment that has a positive impact in the region where it is located, or a relevant contribution to scientific or technological innovation.

        The visa granted through the execution of these investments is valid during at least one year, and in order to obtain the residence permit some other requirements should be met:

        • to not stay previously in Spain in an illegal situation,
        • to have more than 18 years,
        • to not have criminal records,
        • to have a health insurance (hired from a company operating in Spain)
        • to have financial means for the stay in Spain (i.e. a bank deposit, or income from leases or dividends. Payroll does not qualify for this purpose).

        If the above requirements are met, a two years residence and work permit could be granted. After this term, the residence permit can be extended for successive five years periods. The investments should be kept during all these periods. This permit does not request the foreigner to live in Spain for more than six months; therefore it will not be cancelled if the foreigner lives in another country.

        The residence and work permit is granted to the individual who executes the investment. If he/she is married and/or has children or ancestors who depend on the investor, it is possible to apply for their visa at the same time or later on. It is possible to execute the investment through a company owned by the investor, provided it is not a company domiciled in a tax heaven country.

        The Spanish visa allows free movements within the EU countries (Schengen space). The valid travelling document is the passport.

        Foreigners who wish to carry on a self-employment project in Spain could obtain the work and residence permit, but through a different procedure than the above mentioned, and these cases the minimum investment amount is lower.

        Investment in real estate

        The investment in real estate could be in residential, commercial or industrial properties. The property could be leased to third parties before or after the acquisition, or used by the investor. For ambitious investors, there are several possibilities to structure the investment in buildings and apartments and to a higher return of the investment.

        There are some costs related to the acquisition of real estate: the acquisition itself is taxed by Transfer Tax at rates ranging from 6 to 10% on the acquisition price, depending on each Spanish region where the property is located, to be paid by the buyer. Besides, the buyer should pay the Notary Public and Property Registrar’s fees, which approximately amount 3% of the acquisition price (the addition of both of them). These amounts are paid once, when the property is acquired.

        The annual costs related to the ownership of real estate in Spain are the following ones:

        • IBI or local property tax, whose amount is calculated based on the value and location of the property.
        • “Community expenses”, that is those expenses related to the maintenance of the common areas of the building where the property is located: cleaning, lighting, etc.
        • In some cases, also a small tax for garbage should be paid to the Town Council.
        • Owners should file the Spanish Personal Income Tax Return, and pay a percentage between 1,1% and 2% of the property’s “cadastral value” (official value), in case the property is not leased to a third party. If the property is leased, the owner should also file the Personal Income Tax Return based on the amounts obtained from the lease.

        Besides, owners should also pay the expenses related to their property: ordinary maintenance expenses, insurance, electricity and water, etc.

        In Spain, the property right is considered as a full right, which implies that the owner can use the property by himself, can lease it to third parties, can mortgage or encumber it, can sell or gift it to any third party and can pass it to his heirs through a will.

        The only limits to the use of the property by its owner or the persons appointed by him are those established by the civic rules regarding noises, pets, exterior image of the property, etc.

        Regarding the lease of the property, in principle it is free, and the rights and obligations of landlord and tenant are those provided by the private lease agreement entered between both parties and the Spanish Urban Leases Law (Ley de Arrendamientos Urbanos). However, nowadays many Spanish cities (and specially Barcelona) have approved strong limits to the so called touristic leases, which are the short term (days or weeks) leases, and request a special license.

        It is important to point out that foreigners who become residents in Spain can grant their will according to Spanish inheritance laws (according to EU Regulation 650/2012), which slightly vary depending on each Spanish region. In Catalonia, for example, the testator can freely appoint who will be his heirs.

        Financial investment

        Financial investments can be executed through different types of targets, being always the minimum amount 1 million Euros:

        • Shares of companies listed in the Spanish Stock Market.
        • Shares of non-listed companies, which could be already operating companies or newly incorporated ones. In both cases, there are no limits as regards the percentage of shares that can be owned by foreigners, and the activity sectors restricted to non EU foreign investment are very few (gambling, defense, aviation, TV and radio). Foreigners can be appointed Directors of Spanish companies with the only requirement of having previously obtained the so called “N.I.E.”, which is the Spanish identification number for foreigners.

        In case of a newly incorporated company, the € 1 million requested as investment would constitute the company’s share capital, and can be used for the startup of the company’s activities: for example, acquisition of goods, payment of salaries and rentals, payment of purveyors and subcontractors, etc.

        Spanish companies have access to all European markets and have a privileged position for trading with Latin American countries.

        • Investment funds: Spanish financial entities offer a very wide range of investment funds, from very conservative to high risk.

        Deposit in a bank

        The main advantage of a real estate investment compared to a financial investment is that the requested amount is only € 500.000 for real estate, while for a financial investment is twice this amount. During the past years since the Law on Entrepreneurship became in force, investment in real estate has been the most popular way for obtaining the residence permit in Spain, probably because at that time (2013-2016) real estate market prices were quite low due to the crash in 2008.

        However, the process to acquire a property in Spain is not so easy compared to the acquisition of a share in an investment fund or making a bank deposit: the investor has to choose the property, which normally requires one or two visits to Spain, the price and sale conditions have to negotiated and drafted, the purchase deed has to be signed before a Notary Public (by the investor or his proxy), there are taxes and expenses related to the acquisition, and once the property is acquired, it is necessary to pay ongoing expenses and taxes, and maintain the property in good condition.

        Compared to this, the investment in funds or making a bank deposit only requires one visit to the bank by the investor, in order to sign the correspondent documents.  There are not related taxes or expenses, and the liquidity of the investment is  full  (that is,  the investment can be sold at any moment,  quite probably at the same or  at a higher price, but this is not guaranteed for real estate investments).

        How to open and operate a bank account in Spain

        In Spain, banks apply the regulations regarding anti-money laundering, which include the KYC (Know Your Client) rules and the obligation to prove the legal origin of the funds. The KYC rules imply the need for the investor to appear personally before the bank at least once, previously to operating the bank account. The legal origin of the funds can be proved through different means:

        • In case of employees, through the payroll splits, or a certificate issued by the employer, or the investor’s personal income tax return.
        • In case of self-employed individuals, through their personal income tax return, or another type of documents proving their professional activity.
        • In case of company owners, through the company’s financial statements.
        • If the investor has obtained the funds necessary for the investment through personal loans, the loan agreements should be provided, plus the documents proving the legal origin of the funds provided by the lenders.
        • Other documents, for example, regarding dividends or income from the lease of properties owned by the investor could be provided.

        All documents should be legalized by a Notary Public or the Spanish Consulate, and sworn translated into Spanish.

        Please note that this article is aimed to provide a general overview on Spanish rules regarding the above matters, but it does not constitute any kind of comprehensive information on them, and in any case specific legal advice should be sought prior to taking any decision.

        En todas las operaciones de M&A una de las cuestiones que merece un capítulo especial en cuanto a su análisis, determinación y negociación son las contingencias fiscales. Aunque las partes puedan estar más o menos de acuerdo en el importe de dichas contingencias, negociar las posibles garantías que ha de otorgar el vendedor a fin de proteger al comprador de una posible reclamación por parte de las autoridades fiscales, el plazo de duración de las mismas, así como acordar los mecanismos de comunicación entre las partes (comprador y vendedor) y de defensa legal en caso de que se produzca tal reclamación, requiere ingentes esfuerzos negociadores.

        Cuando la operación de adquisición no se formaliza mediante la compra de las acciones o participaciones sociales de la sociedad que es objeto de adquisición (“shares deal”), sino mediante de la compra de los activos que forman una unidad productiva (“assets deal”), la Ley General Tributaria (LGT) española establece un mecanismo que supone una excepción al principio, establecido por el artículo 42 de la misma Ley, consistente en establecer la responsabilidad solidaria del adquirente de una unidad productiva por las deudas tributarias contraídas por el anterior titular (“responsabilidad por sucesión de empresa”). Esto es, en principio, de acuerdo con el artículo 42 de la LGT, “serán responsables solidarios de la deuda tributaria las personas o entidades que sucedan por cualquier concepto en la titularidad o ejercicio de explotaciones o actividades económicas, por las obligaciones tributarias contraídas del anterior titular y derivadas de su ejercicio”.

        Sin embargo, esta responsabilidad solidaria del adquirente se puede limitar mediante la solicitud a las autoridades fiscales del certificado que regula el artículo 175.2 de la LGT. El certificado debe solicitarlo el que pretende adquirir la titularidad de una explotación económica, de conformidad con el titular actual, y la responsabilidad del adquirente queda limitada a las deudas, sanciones y responsabilidades mencionadas en la certificación. Si la certificación se expide sin mencionar importe alguno, o bien la Administración no la expide en el plazo de tres meses desde la solicitud, el solicitante quedará exento de la responsabilidad fiscal solidaria por sucesión de empresa.

        La certificación del artículo 175.2 de la LGT puede incluir las deudas por retenciones a cuenta del IRPF, las cuales en el caso de empresas con una gran número de trabajadores pueden ser de un importe elevado, sin embargo la responsabilidad solidaria del adquirente por sueldos, salarios y cuotas de seguridad social no puede limitarse mediante la solicitud de este certificado, sino que siempre sería solidaria con el transmitente de la unidad de negocio.

        La solicitud del certificado debe realizarse antes de formalizar la adquisición de la unidad productiva, aunque su emisión tenga lugar después de dicha adquisición (por supuesto, la posición prudente es no cerrar la adquisición hasta no disponer del certificado). La duración de este certificado es de un año, para el caso de obligaciones fiscales periódicas (por ejemplo, Impuesto sobre el Valor Añadido, Impuesto de Sociedades, retenciones a cuenta de Impuesto sobre la Renta de las Personas Físicas), y de tres meses para el caso de obligaciones fiscales no periódicas.

        Es muy importante solicitar el certificado correcto (“a efectos de sucesión de empresa de acuerdo con lo establecido en el art. 175.2 de la LGT”), y no confundirlo por ejemplo con el certificado referente a estar al corriente de las obligaciones tributarias, pues abundan en la jurisprudencia los casos de adquirentes de empresas que, habiendo solicitado un certificado erróneo a las autoridades fiscales y habiendo obtenido un certificado que no mostraba responsabilidades fiscales, posteriormente han sido condenados a pagar, en calidad de responsables solidarios, las deudas fiscales de la empresa transmitente.

        The remuneration of directors is an intricate issue and one that deserves adequate treatment. Recently there has been a turn that deserves special attention.

        In its judgment of February 26, 2018, the Supreme Court modified the interpretation given by most experts and authorities and by the Directorate-General of Registries and the Notarial Profession in its decision dated June 17, 2016, ratified by the Barcelona Provincial Appellate Court in its decision 295/2017 of June 30, 2017, on the regulation of executive directors’ compensation.

        In its judgment, the Supreme Court held that the compensation of directors “in their capacity as such” includes the compensation of both deliberative and executive functions and that, accordingly, approval of the compensation of directors who discharge executive functions is subject not only to article 249 of the Corporate Enterprises Law (i.e., the requirement for there to be a contract approved by a two-thirds majority of the board) but also to article 217. Consequently:

        1. the bylaws must stipulate the compensation scheme for executive functions (although no reference is made to amount); and
        2. the amount payable for the discharge of executive functions must be included in the maximum annual amount stipulated by the shareholders’ meeting.

        The judgment was handed down in connection with a limited liability company and, furthermore, some of its considerations refer specifically to unlisted companies, although it does not clearly and indubitably exclude listed companies (which are, however, subject to specific rules under the compensation policy).

        The publication of this Supreme Court judgment gives rise to the need for an individualized analysis of each specific case, so that the appropriate measures can be taken to enable companies to bring their policies into line with its conclusions.

        The author of this post is Pablo Vinageras.

        Una vez convencidos de la utilidad de la mediación como método de solucionar conflictos entre franquiciador y franquiciado y tomada la decisión de incluir en los contratos una cláusula que la prevea, el último paso sería qué elementos debemos tener en cuenta a la hora de redactarla.

        1. La negociación previa. Parece recomendable que ambas partes se concedan la posibilidad de intentar resolver el problema con una negociación formal previa. La mediación no excluye el intento previo llevado a cabo por los interesados o sus abogados, no obstante, parece recomendable que se prevea contractualmente un plazo adecuado a las circunstancias. La experiencia demuestra que alargar demasiado esta fase puede producir como resultado que el conflicto se vaya agravando y resulte más complicado incluso acercarse a la mediación.
        2. La cláusula puede igualmente prever el lugar en el que la mediación se llevará a cabo. De nuevo en este punto las partes son libres. Es conveniente que éste sea preciso indicando la ciudad.
        3. El idioma en el que va a desarrollarse la mediación es facultad de las partes. No habrá dificultad en mediaciones en las que ambas partes usen el mismo idioma, pero es muy conveniente en contratos con partes que los tengan diferentes, o que pertenezcan a regiones o países con diferentes lenguas cooficiales. La redacción o firma del contrato en un idioma concreto no presupone que ese haya de ser el idioma de la mediación. Es un elemento a tener muy en cuenta también a la hora de solicitar un mediador que pueda usar dicho idioma en la institución de mediación elegida.
        4. El procedimiento puede decidirse igualmente por las partes. En particular, el número de sesiones, la duración máxima prevista, la participación de asesores, etc. Téngase en cuenta que la mayor o menor regulación permitirá evitar futuros conflictos al respecto, aunque también supondrá enmarcar más la libertad de las partes que, no obstante, permanecerán libres para modificar de común acuerdo lo pactado.
        5. El plazo de duración de la mediación puede igualmente contemplarse. Ello permitiría, por ejemplo, evitar que la mediación se alargue únicamente con fines estratégicos meramente procesales o para recabar información de la otra parte antes de iniciar un procedimiento, etc. Los mediadores profesionales, no obstante, son capaces de identificar estas maniobras teniendo la facultad también de poner ellos mismos fin a la mediación en caso de constatarlas.
        6. Elegir al mediador o a la institución de mediación es una elección importante. Las partes pueden ponerse de acuerdo sobre quién será su mediador, indicar en el contrato los elementos para elegirlo, o someterse directamente a una Institución de Mediación para que sea ésta quien lo designe conforme a sus propias reglas. Estas decisiones pueden ser alternativas (es decir, que las partes se pongan de acuerdo sobre el mediador y, en caso de falta de acuerdo, someterse a una institución que lo nombre), o pueden ser únicas. La designación de una Institución requiere que tenga la suficiente garantía de estabilidad (evitar designar instituciones de corta trayectoria o sin demasiada garantía de futuro), con un panel suficiente de mediadores en función de las características de la mediación (idioma, competencia, experiencia) y que permita la flexibilidad necesaria para su funcionamiento.
        7. Por último, es conveniente que la cláusula incluya una vía alternativa en caso de que la mediación no llegue a buen puerto bien porque las partes no llegan a un acuerdo, bien porque se retiran de la mediación. Recordemos que la mediación no cierra las puertas a que el conflicto sea resuelto mediante el recurso a la jurisdicción ordinaria o al arbitraje. Y en materia de arbitraje especializado en contratos de distribución el IDArb (https://www.idiproject.com/content/idarb-idi-arbitration-project) es una excelente opción.

        Ignacio Alonso

        Áreas de práctica

        • Agencia
        • Derecho Societario
        • Contratos de distribución
        • Franquicia
        Contáctanos Ignacio

        Contacta con Ignacio





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          España – La responsabilidad penal de las personas jurídicas

          31 de marzo de 2018

          • España
          • Derecho Societario
          • Compliance

          Constituye el objeto de la presente Nota el análisis de las nuevas obligaciones que el RDL 6/2019 establece, en materia de igualdad, a cargo de todo tipo de Empresas (con independencia de cuál sea el número de trabajadores) y, concretamente, para aquéllas empresa que cuenten con 50 o más trabajadores.

          La principal novedad que encontramos a este respecto reside en la obligatoriedad, para empresas que cuenten con 50 o más trabajadores, de implantar un plan de igualdad, de conformidad con lo establecido en los artículos 45 y siguientes de la LOIEMH.

          En cuanto al contenido y las condiciones de implantación del Plan de Igualdad en las Empresas, encontramos las siguientes novedades:

          • Se enumeran taxativamente las materias y contenido mínimo que debe recoger todo plan de igualdad.
          • Se introduce, como materia que debe contener el Plan, un análisis sobre la Infrarrepresentación femenina en la Empresa.
          • El diagnóstico que debe realizar la empresa con carácter previo a la elaboración del Plan de Igualdad debe ser negociado con la representación legal de los trabajadores.
          • Se crea un Registro de Planes de Igualdad de las Empresas, en el que deben inscribirse todos los planes de igualdad implantados en las Empresas, con independencia del número de trabajadores que tengan.

          Por otro lado, el RDL 6/2019 da una nueva redacción al artículo 28 del Estatuto de los Trabajadores, que recoge la obligación de la Empresa de cumplir con la exigencia de igualdad de salario entre hombres y mujeres, estableciendo una serie de medidas y obligaciones a cargo de las Empresas, al objeto de procurar el efectivo cumplimiento de la igualdad salarial.

          En concreto, estas nuevas medidas adoptadas en el artículo 28 del ET son las siguientes:

          • Se especifica lo que ha de ser considerado como “trabajo de igual valor”, a fin de facilitar un único concepto y eliminar cualquier duda al respecto.
          • Las Empresas tienen la obligación de llevar un Registro Salarial, con los valores medios de los salarios, los complementos salariales y las percepciones extrasalariales de su plantilla, diferenciados por sexo y distribuidos por grupos profesionales, categorías profesionales o puestos de trabajo iguales o de igual valor.
          • El Registro Salarial deberá ser accesible a la representación legal de los trabajadores.
          • En las empresas con 50 o más trabajadores en las que el promedio de las retribuciones a los trabajadores de un sexo sea superior a los del otro en un 25% o más, deberá incluirse en el Registro Salarial una justificación de dicha diferencia, debiendo acreditar que la misma se debe a motivos ajenos al sexo de los trabajadores.

          El incumplimiento, por parte de las Empresas, de las obligaciones en materia de Igualdad y, en concreto, aquéllas relativas al Plan de Igualdad e Igualdad salarial entre hombres y mujeres, podrán comportar la imposición de importantes sanciones por parte de la Inspección de Trabajo y la TGSS.

          La Ley española del Contrato de Agencia y la Directiva europea prevén para el agente — salvo en ciertos casos —, una indemnización por clientela cuando la relación se termina, en función de la retribución percibida por el Agente durante la vida del contrato. Es, pues, una carga que en general todo empresario tendrá pendiente al terminar el contrato.

          La tentación es intentar librarse de su pago y para ello nos consultan con frecuencia acerca de estrategias o tácticas. A continuación intento resumir algunos de ellos indicando las posibilidades de éxito (o no) que pueden tener, tanto en la fase de negociación/redacción del contrato, como en la fase de resolución.

          1. Cambiar el nombre del contrato

          La primera idea es hacer un contrato “parecido” al de agencia o llamarlo de otra forma (de servicios, de intermediación, de representación…). Ahora bien, el cambio de nombre no tiene ninguna incidencia ya que los contratos “son lo que son” y no lo que las partes los llaman. Así que si hay una intermediación continuada a cambio de una remuneración, hay muchas posibilidades de que un juez lo considere como contrato de agencia, lo llamemos como lo llamemos. Y ello con todas sus consecuencias.

          1. Limitar la indemnización en el contrato

          Otra tentación en la fase de redacción del contrato es acordar una indemnización menor que el máximo previsto legalmente, prever su pago por adelantado mientras dura el contrato, o directamente eliminarla.

          Ninguna de estas soluciones sería válida si intentan disminuir la posibilidad de que el Agente perciba el máximo legal, o por motivos no previstos en la Ley ni la Directiva. La ley manda.

          1. Encadenar varios contratos de agencia

          Dado que la indemnización se calcula según las remuneraciones de los últimos cinco años y de la clientela creada, la tentación es encadenar varios contratos de menor duración para considerar solo los clientes del último período.

          Esto no necesariamente será una buena idea si el último año, por ejemplo, se crearon muchos clientes, pero, además puede resultar inútil porque la ley española y la Directiva prevén que el contrato de duración determinada que continúa ejecutándose se transforma en indefinido. El juez podrá considerar todos los contratos encadenados como uno único.

          Para que esta estrategia tenga posibilidad de ser útil, habría que liquidar cada contrato sustituido, declarar que “nada tienen que reclamarse las partes” y que los sucesivos contratos estén suficientemente separados y tengan diferente entidad, redacción, extensión, etc. Si se plantea bien, podría ser una vía para liberarse de una mayor indemnización por clientela: un pacto bien redactado por el que el agente declara recibida la indemnización, y que el siguiente contrato no reitere miméticamente y de forma inmediata el contenido del anterior.

          1. Someter el contrato a un derecho extranjero

          En contratos internacionales la tentación es someter el contrato a un derecho que no sea el español, en particular, cuando el Principal es de dicha nacionalidad.

          La idea puede ser buena o mala según el derecho elegido y siempre que guarde alguna relación con el negocio. Como se sabe, en la UE la Directiva establece unas condiciones mínimas que las legislaciones nacionales deben respetar. Pero nada impide a estas leyes prever condiciones más ventajosas para los agentes. Esto hace que, por ejemplo, elegir el derecho francés sería, en general, una idea mala para el Principal porque la indemnización en ese país suele ser mayor.

          En algunos casos, la elección de un derecho de fuera de la Unión Europea que no prevea la indemnización por clientela cuando el agente es europeo ha sido rechazada por considerar que se está vulnerando el derecho mínimo reconocido en la Directiva.

          1. Someter el contrato a reglas y jueces no nacionales

          Otra posibilidad menos frecuente es la de someter el contrato a normas no de un país, sino a normas mercantiles generales (Lex Mercatoria) y acordar una indemnización menor.

          Esto no es muy frecuente, y puede no resultar muy útil según quien haya de interpretar el contrato y dónde resida el agente. Si, por ejemplo, el agente reside en España y quien va a interpretar el contrato es un juez español, con mucha probabilidad va a interpretar el contrato según sus propias normas sin verse vinculado por lo que prevea el contrato. De nada habrá servido.

          1. Someter el contrato a arbitraje

          Diferente será la cuestión si el contrato está sometido a arbitraje. En este caso los árbitros, normalmente, no están sometidos necesariamente a interpretar un contrato según las normas nacionales propias si el contrato está sometido a otras diferentes. En este caso sí que cabría la posibilidad de que se sintieran más libres de considerar exclusivamente el contrato, sobre todo cuando el agente no fuera de su nacionalidad, desconociera cuál es el derecho del país del agente y no se viera vinculado por las garantías previstas para su protección.

          1. La mediación en el contrato de agencia

          La mediación es una forma alternativa de solucionar un conflicto que puede usarse también en contratos de agencia. Con ella son las partes, ayudadas por el mediador, quienes resolverían la controversia.

          En este caso, dado que el mediador no es quien decide, es posible que las partes lleguen libremente a un acuerdo por el que el agente se conforme con una indemnización menor si, por ejemplo, se le confieren otras ventajas, reconocimientos, si llega al convencimiento de tener menor derecho, dificultad de prueba, si prefiere ahorrarse otros costes, tiempo, energías para su nuevo negocio, etc.

          Los mediadores velan por el equilibrio de las partes, pero nada impide que ambas concluyan una indemnización menor al máximo legal (tras la conclusión del contrato es posible negociar una inferior a la legal). Prever la mediación en el contrato de agencia, es, por lo tanto, una buena idea para poder abordar y negociar mejor esta indemnización por clientela. Además, prever la mediación no limita los derechos de ninguna de las partes para retirarse y proseguir por la vía judicial exigiendo el máximo legal.

          1. Imputar al agente un incumplimiento previo

          Cuando el contrato termina, esta es, sin duda, la causa que se intenta con más frecuencia: cuando se quiere resolver el contrato, el Principal intenta argumentar que el Agente lo ha incumplido previamente y que por eso se está resolviendo el contrato.

          La ley y la Directiva exceptúan el pago de la indemnización cuando el agente ha incumplido antes. Pero en ese caso, el Principal deberá poder demostrarlo cuando el agente lo discuta. Y no siempre será fácil. El Principal ha de aportar pruebas claras y para ello será conveniente recoger información y documentación sobre el incumplimiento con la suficiente y antelación y de importancia suficiente (no suelen aceptarse incumplimientos menores). Por lo tanto, si el Principal desea seguir este camino, es recomendable preparar los argumentos y las pruebas antes de que finalice el contrato. Es muy recomendable, por tanto, ponerse en contacto con un asesor experto cuanto antes: él lo ayudará a minimizar los riesgos.

          The procedure to incorporate a foreign owned company in Spain is, in principle, easy and straight forward, however it is necessary to take into account certain new requirements derived from the tax and the anti-money laundering regulations, which could cause long delays in the incorporation process, even to EU and US companies, if they are not well advised and managed from the beginning of the procedure.

          The first step consist in collecting information about the foreign shareholder, in order to be able to prove its legal existence and activities: the foreign shareholder(s) will have to grant before a Notary Public in its country of residence a power of attorney authorising somebody in Spain to obtain its tax identification number (“NIE”), and also represent it before the Spanish notary when signing the deed of incorporation. In case the foreign shareholder is an individual person, the NIE should be applied for before the Spanish police or the Spanish Consulate at the country where the investor lives.

          If the shareholder is a corporation, apart from the Power of Attorney, it will have to obtain a certificate from its Companies’ Registry or Chamber of Commerce, stating its legal existence and main characteristics. This document is called “good standing certificate” (in the UK and US), “K-bis” (in France), “KvK” (in the Netherlands) or “visura” (in Italy). These two documents, the Power of Attorney mentioned in the above paragraph and the certificate from the Companies’ Registry, will have to be Apostilled or legalized by the correspondent Ministry, and Sworn translated into Spanish. Please note that we use to draft bilingual powers of attorney in order to avoid its sworn translation.

          The foreign shareholder will have to prove that its income is obtained from legal activities in order to be able to open a bank account in the name of the new company. The main document to prove this could be the Corporate or the Personal Income Tax return filed in its country of residence, but there could be other means, especially in case of individual persons.

          In case of a corporate shareholder, it will be necessary as well to declare, in principle through a public deed granted in Spain, who are the individual persons who, directly or through other companies, will hold more than a 25% interest in the new company to be incorporated. In case nobody holds more than a 25% (i.e. because there are 5 individual shareholders, holding each of them a 20%), it is declared that the effective control of the new company corresponds to its director.

          At this stage, it is also necessary to mention that the person(s) who will be the director(s) of the new company, in case they are foreigners, will also need to obtain their personal “NIE”. The NIE should be applied for before the Spanish police (this could be done by a proxy duly authorised though a Power of Attorney granted by the foreign director) or before the Spanish Consulate nearest to the city where the investor lives. In order to be a director of a Spanish company it is not necessary to be a shareholder, nor to have residence and work permit in Spain (provided the foreign director does not live in Spain).

          Meanwhile the necessary documents (Powers of Attorney, Companies’ Registry certificate, etc.) are being prepared by the foreign shareholder, the lawyer in Spain will apply for the new company’s name. It is advisable to point out that generic or usual names are not available quite often, therefore it is necessary to think in original names. Three different names could be applied for simultaneously.

          The drafting of the company’s Articles of Association or By Laws could be very quick, except if the company is going to have several shareholders and they wish specific clauses. In this case, it is also advisable to draft a Shareholders Agreement. The Shareholders’ Agreement could just contain some basic rules on dedication, compensation, non-competition, etc. and some more sophisticated rules on the sale of shares (tag along and drag along rights). As regards the By-Laws, they should mention the company’s name, its activity or activities, address in Spain –which cannot be just a P.O. Box-, share capital, number of shares and its face value, and starting date for the fiscal year, among other standard clauses.

          The management of the company could be organized through a sole director, two directors who could act jointly or separately, and in case there are more than three directors, they should organize themselves through a Board of Directors, being usual in this case to appoint a C.E.O. In order to be a director it is not necessary to be a shareholder. Under Spanish laws, the director(s) could be held liable for some company’s debts under certain circumstances which are legally defined. For this reason, it is necessary that the directors formally accept their appointment (personally appearing before the Notary or through a Power of Attorney).

          Before the incorporation, it will be necessary that either the new company’s director (the person to be appointed) or the representative of the corporate shareholder appears personally before the bank where the company will have its first bank account and signs the correspondent documents (KYC regulation). Once the bank account is opened, the shareholder will have to send a bank transfer for the new company’s share capital. In Spain, the minimum share capital for a limited company (S.L.) is Euros 3.000, while for a “Sociedad Anónima” (S.A.) it is Euros 60.000, but only 25% should be paid off at the incorporation moment. It is interesting to note that contributions to the share capital could be made in cash – which is the most common operation, especially at the incorporation – or in kind, with any type of assets: real estate, machinery, goods, trademarks, etc. The money for the share capital should be sent to the new company’s bank account from an account owned by the shareholder (or from each account owned by each shareholder, should they be several ones), not by any other different person. Once the Spanish bank receives the transfer, it will issue a certificate, which is necessary in order to incorporate the company.

          Once all the documents are ready, it is possible within very few days (almost immediately) to make the appointment with the Notary and sign the public deed of incorporation. This can be done at any notary in Spain, not being necessary that the notary practises at the same city where the company will have its corporate address. In order to summarize, the list of the necessary documents is:

          • Power(s) of Attorney granted by the foreign shareholder(s), apostilled and sworn translated.
          • Certificate regarding the legal existence of the foreign shareholder (only if it is a corporation), apostilled and sworn translated.
          • Statement on who are the last individual shareholders holding more than 25% interest in the new company, directly or indirectly (only in case of corporate shareholders).
          • NIE of the foreign shareholder(s).
          • NIE of the new company’s director(s), should they be a foreigners.
          • Certificate for the new company’s name.
          • Articles of Association.
          • Bank certificate regarding the contribution to the new company’s share capital.

          The deed of incorporation is signed by the proxy (or the individual shareholder(s), should they prefer to personally appear before the notary) before the chosen public notary, being also necessary to sign an official form to report the foreign investment to a public registry depending on the Spanish Ministry of Finance.

          Once the deed of incorporation is signed, the next steps consist in applying before the tax authorities to obtain the new company’s tax number (NIF / CIF) and filing the deed of incorporation before the Companies’ Registry. Some banks do allow new companies to operate once they have the NIF (which could be 2-3 days after the incorporation), while others request to wait until the deed of incorporation is filed at the Companies’ Registry (2-3 weeks).

          An estimation of the necessary time to complete all the procedure is 30-45 days, but of course the main delay is related to speed of the foreign investor in obtaining the necessary documents.

          Please note that if you wish to incorporate a foreign owned company in Spain it is always necessary to seek specific professional advice, as each case is different and regulations and the application of such regulations vary from time to time. The above article just explains the main steps and requirements for the incorporation of a company.

          Arbitration is a well-known system for dispute resolutions, and works as an alternative to judicial procedures. Parties are free to choose this system and to submit their conflicts to specific arbitrators or institutions.

          It is usually considered that arbitration is a good way to solve conflicts but preferable to those arisen between big corporations or involving important amounts of money. Although this assumption is generally accepted, there is an alternative for distribution disputes suitable for smaller companies and cases with lower amounts claimed.

          And here is the essential question: why a manufacturer/franchisor or a distributor/agent/franchisee should choose a specialized arbitration for their agreements instead of a more general one or, even, a judicial procedure? The answer seems clear: an arbitrator with knowledge not only in procedural questions but in substantive matters will be able to better understand the conflict between the parties and, therefore, to grant a better award. Take into account that, for instance in my Country, Spain, a Judge of First instance can deal in the same day with a distribution contract, a construction case, a conflict between heirs, and a discussion in a community of owners. All of this requires the analysis of different facts and completely different legislations and it is true that specific commercial problems do not usually have judges experts in international trading. But, how to choose a good specialized arbitrator? And, how to choose the arbitral procedure and the institution in terms of organization, neutrality, costs and time?

          The IDArb was created in 2016 by the International Distribution Institute (www.idiproject.com) in collaboration with the Chambre de Commerce d’Industries et de Services de Genève (CCIG www.ccig.ch) and the Swiss Chambers’ Arbitration Institution (SCAI www.swissarbitration.org) and offers to the distribution sector (distribution, agency, franchising, selective distribution) a specialized, expedited and affordable arbitration procedure, not only for big international corporations but also for smaller cases. In fact, the expedited procedure is particularly foreseen for amounts below one million CHF (approx. 880.000 €).

          The objectives and main characteristics of IDArb which make it suitable for all the distribution disputes are:

          1. A list of specialized arbitrators experts in this particular field is available for ad hoc or institutional arbitration and IDArb is able to assist the parties to choose one of them.

          Specialized arbitrators from different countries and legal cultures have been appointed by a Selecting Committee reviewing their experience in one or more fields of distribution law. Therefore, parties can trust that the arbitrator will have concrete skills in the business with an in-depth understanding of the disputed issues. This is not a general knowledge on commercial law, but a concrete one on distribution, expressly verified by the Committee. Parties can even examine some examples of cases in which every arbitrator has been involved in.

          1. In order to maintain its high quality, the IDArb organizes training seminars for its appointed arbitrators. In these seminars, they are able to discuss about the general management of the arbitration, the procedural aspects and how to solve possible incidents in collaboration with the Institutions and their Rules. This will make all the proceedings more manageable and the possible difficulties more easily solved. Last seminar took place in Geneva in November 8, 2018 and participants have discussed, amongst other subjects, on evidences, witnesses and document production.
          2. The expedited arbitration procedure permits the parties to have a tailored procedure managed by SCAI under the Swiss Rules of International Arbitration, specially adapted for small disputes in the field of distribution.
          3. Time is also an essential element: the award in the expedited procedure will be issued in a maximum term of six months (only exceptional circumstances permit the Court to extend such time-limit), and, if parties agree, it can be decided only on documentary evidence.
          4. Costs are reasonable and known in advance.
          5. And, as final but important remark, IDArb has also adopted some recommendations where, upon request of the parties, mediation is favoured, the arbitrator my consider giving a preliminary non-binding and provisional assessment of the dispute and should have a pro-active position in order to facilitate an amicable settlement.

          Spanish Law on Entrepreneurship (Law 14/2013) has approved new cases where foreigners from non-European Union countries can obtain the residence permit in Spain through the execution of investments:

          1. Investments in real estate for an amount equal or higher than € 500.000 (Five Hundred Thousand Euros). The investment can be made in one or more properties, but at least € 500.000 should be free of encumbrances (mortgage, i.e.). If the price is higher than € 500.000, the rest of the amount could be paid through mortgage.
          2. Financial investments for a value equal or higher than 1 million Euros. This type of investment includes listed and non-listed shares, in case of non-listed shares they could be from already operating companies or newly incorporated ones, investment funds, and deposits in Spanish banks.
          3. Investment in Spanish sovereign debt for an amount equal or higher than 2 million Euros.
          4. To carry on a business project in Spain that was considered as being of public interest. To this purpose, one of these conditions should be met: creation of jobs, execution of an investment that has a positive impact in the region where it is located, or a relevant contribution to scientific or technological innovation.

          The visa granted through the execution of these investments is valid during at least one year, and in order to obtain the residence permit some other requirements should be met:

          • to not stay previously in Spain in an illegal situation,
          • to have more than 18 years,
          • to not have criminal records,
          • to have a health insurance (hired from a company operating in Spain)
          • to have financial means for the stay in Spain (i.e. a bank deposit, or income from leases or dividends. Payroll does not qualify for this purpose).

          If the above requirements are met, a two years residence and work permit could be granted. After this term, the residence permit can be extended for successive five years periods. The investments should be kept during all these periods. This permit does not request the foreigner to live in Spain for more than six months; therefore it will not be cancelled if the foreigner lives in another country.

          The residence and work permit is granted to the individual who executes the investment. If he/she is married and/or has children or ancestors who depend on the investor, it is possible to apply for their visa at the same time or later on. It is possible to execute the investment through a company owned by the investor, provided it is not a company domiciled in a tax heaven country.

          The Spanish visa allows free movements within the EU countries (Schengen space). The valid travelling document is the passport.

          Foreigners who wish to carry on a self-employment project in Spain could obtain the work and residence permit, but through a different procedure than the above mentioned, and these cases the minimum investment amount is lower.

          Investment in real estate

          The investment in real estate could be in residential, commercial or industrial properties. The property could be leased to third parties before or after the acquisition, or used by the investor. For ambitious investors, there are several possibilities to structure the investment in buildings and apartments and to a higher return of the investment.

          There are some costs related to the acquisition of real estate: the acquisition itself is taxed by Transfer Tax at rates ranging from 6 to 10% on the acquisition price, depending on each Spanish region where the property is located, to be paid by the buyer. Besides, the buyer should pay the Notary Public and Property Registrar’s fees, which approximately amount 3% of the acquisition price (the addition of both of them). These amounts are paid once, when the property is acquired.

          The annual costs related to the ownership of real estate in Spain are the following ones:

          • IBI or local property tax, whose amount is calculated based on the value and location of the property.
          • “Community expenses”, that is those expenses related to the maintenance of the common areas of the building where the property is located: cleaning, lighting, etc.
          • In some cases, also a small tax for garbage should be paid to the Town Council.
          • Owners should file the Spanish Personal Income Tax Return, and pay a percentage between 1,1% and 2% of the property’s “cadastral value” (official value), in case the property is not leased to a third party. If the property is leased, the owner should also file the Personal Income Tax Return based on the amounts obtained from the lease.

          Besides, owners should also pay the expenses related to their property: ordinary maintenance expenses, insurance, electricity and water, etc.

          In Spain, the property right is considered as a full right, which implies that the owner can use the property by himself, can lease it to third parties, can mortgage or encumber it, can sell or gift it to any third party and can pass it to his heirs through a will.

          The only limits to the use of the property by its owner or the persons appointed by him are those established by the civic rules regarding noises, pets, exterior image of the property, etc.

          Regarding the lease of the property, in principle it is free, and the rights and obligations of landlord and tenant are those provided by the private lease agreement entered between both parties and the Spanish Urban Leases Law (Ley de Arrendamientos Urbanos). However, nowadays many Spanish cities (and specially Barcelona) have approved strong limits to the so called touristic leases, which are the short term (days or weeks) leases, and request a special license.

          It is important to point out that foreigners who become residents in Spain can grant their will according to Spanish inheritance laws (according to EU Regulation 650/2012), which slightly vary depending on each Spanish region. In Catalonia, for example, the testator can freely appoint who will be his heirs.

          Financial investment

          Financial investments can be executed through different types of targets, being always the minimum amount 1 million Euros:

          • Shares of companies listed in the Spanish Stock Market.
          • Shares of non-listed companies, which could be already operating companies or newly incorporated ones. In both cases, there are no limits as regards the percentage of shares that can be owned by foreigners, and the activity sectors restricted to non EU foreign investment are very few (gambling, defense, aviation, TV and radio). Foreigners can be appointed Directors of Spanish companies with the only requirement of having previously obtained the so called “N.I.E.”, which is the Spanish identification number for foreigners.

          In case of a newly incorporated company, the € 1 million requested as investment would constitute the company’s share capital, and can be used for the startup of the company’s activities: for example, acquisition of goods, payment of salaries and rentals, payment of purveyors and subcontractors, etc.

          Spanish companies have access to all European markets and have a privileged position for trading with Latin American countries.

          • Investment funds: Spanish financial entities offer a very wide range of investment funds, from very conservative to high risk.

          Deposit in a bank

          The main advantage of a real estate investment compared to a financial investment is that the requested amount is only € 500.000 for real estate, while for a financial investment is twice this amount. During the past years since the Law on Entrepreneurship became in force, investment in real estate has been the most popular way for obtaining the residence permit in Spain, probably because at that time (2013-2016) real estate market prices were quite low due to the crash in 2008.

          However, the process to acquire a property in Spain is not so easy compared to the acquisition of a share in an investment fund or making a bank deposit: the investor has to choose the property, which normally requires one or two visits to Spain, the price and sale conditions have to negotiated and drafted, the purchase deed has to be signed before a Notary Public (by the investor or his proxy), there are taxes and expenses related to the acquisition, and once the property is acquired, it is necessary to pay ongoing expenses and taxes, and maintain the property in good condition.

          Compared to this, the investment in funds or making a bank deposit only requires one visit to the bank by the investor, in order to sign the correspondent documents.  There are not related taxes or expenses, and the liquidity of the investment is  full  (that is,  the investment can be sold at any moment,  quite probably at the same or  at a higher price, but this is not guaranteed for real estate investments).

          How to open and operate a bank account in Spain

          In Spain, banks apply the regulations regarding anti-money laundering, which include the KYC (Know Your Client) rules and the obligation to prove the legal origin of the funds. The KYC rules imply the need for the investor to appear personally before the bank at least once, previously to operating the bank account. The legal origin of the funds can be proved through different means:

          • In case of employees, through the payroll splits, or a certificate issued by the employer, or the investor’s personal income tax return.
          • In case of self-employed individuals, through their personal income tax return, or another type of documents proving their professional activity.
          • In case of company owners, through the company’s financial statements.
          • If the investor has obtained the funds necessary for the investment through personal loans, the loan agreements should be provided, plus the documents proving the legal origin of the funds provided by the lenders.
          • Other documents, for example, regarding dividends or income from the lease of properties owned by the investor could be provided.

          All documents should be legalized by a Notary Public or the Spanish Consulate, and sworn translated into Spanish.

          Please note that this article is aimed to provide a general overview on Spanish rules regarding the above matters, but it does not constitute any kind of comprehensive information on them, and in any case specific legal advice should be sought prior to taking any decision.

          En todas las operaciones de M&A una de las cuestiones que merece un capítulo especial en cuanto a su análisis, determinación y negociación son las contingencias fiscales. Aunque las partes puedan estar más o menos de acuerdo en el importe de dichas contingencias, negociar las posibles garantías que ha de otorgar el vendedor a fin de proteger al comprador de una posible reclamación por parte de las autoridades fiscales, el plazo de duración de las mismas, así como acordar los mecanismos de comunicación entre las partes (comprador y vendedor) y de defensa legal en caso de que se produzca tal reclamación, requiere ingentes esfuerzos negociadores.

          Cuando la operación de adquisición no se formaliza mediante la compra de las acciones o participaciones sociales de la sociedad que es objeto de adquisición (“shares deal”), sino mediante de la compra de los activos que forman una unidad productiva (“assets deal”), la Ley General Tributaria (LGT) española establece un mecanismo que supone una excepción al principio, establecido por el artículo 42 de la misma Ley, consistente en establecer la responsabilidad solidaria del adquirente de una unidad productiva por las deudas tributarias contraídas por el anterior titular (“responsabilidad por sucesión de empresa”). Esto es, en principio, de acuerdo con el artículo 42 de la LGT, “serán responsables solidarios de la deuda tributaria las personas o entidades que sucedan por cualquier concepto en la titularidad o ejercicio de explotaciones o actividades económicas, por las obligaciones tributarias contraídas del anterior titular y derivadas de su ejercicio”.

          Sin embargo, esta responsabilidad solidaria del adquirente se puede limitar mediante la solicitud a las autoridades fiscales del certificado que regula el artículo 175.2 de la LGT. El certificado debe solicitarlo el que pretende adquirir la titularidad de una explotación económica, de conformidad con el titular actual, y la responsabilidad del adquirente queda limitada a las deudas, sanciones y responsabilidades mencionadas en la certificación. Si la certificación se expide sin mencionar importe alguno, o bien la Administración no la expide en el plazo de tres meses desde la solicitud, el solicitante quedará exento de la responsabilidad fiscal solidaria por sucesión de empresa.

          La certificación del artículo 175.2 de la LGT puede incluir las deudas por retenciones a cuenta del IRPF, las cuales en el caso de empresas con una gran número de trabajadores pueden ser de un importe elevado, sin embargo la responsabilidad solidaria del adquirente por sueldos, salarios y cuotas de seguridad social no puede limitarse mediante la solicitud de este certificado, sino que siempre sería solidaria con el transmitente de la unidad de negocio.

          La solicitud del certificado debe realizarse antes de formalizar la adquisición de la unidad productiva, aunque su emisión tenga lugar después de dicha adquisición (por supuesto, la posición prudente es no cerrar la adquisición hasta no disponer del certificado). La duración de este certificado es de un año, para el caso de obligaciones fiscales periódicas (por ejemplo, Impuesto sobre el Valor Añadido, Impuesto de Sociedades, retenciones a cuenta de Impuesto sobre la Renta de las Personas Físicas), y de tres meses para el caso de obligaciones fiscales no periódicas.

          Es muy importante solicitar el certificado correcto (“a efectos de sucesión de empresa de acuerdo con lo establecido en el art. 175.2 de la LGT”), y no confundirlo por ejemplo con el certificado referente a estar al corriente de las obligaciones tributarias, pues abundan en la jurisprudencia los casos de adquirentes de empresas que, habiendo solicitado un certificado erróneo a las autoridades fiscales y habiendo obtenido un certificado que no mostraba responsabilidades fiscales, posteriormente han sido condenados a pagar, en calidad de responsables solidarios, las deudas fiscales de la empresa transmitente.

          The remuneration of directors is an intricate issue and one that deserves adequate treatment. Recently there has been a turn that deserves special attention.

          In its judgment of February 26, 2018, the Supreme Court modified the interpretation given by most experts and authorities and by the Directorate-General of Registries and the Notarial Profession in its decision dated June 17, 2016, ratified by the Barcelona Provincial Appellate Court in its decision 295/2017 of June 30, 2017, on the regulation of executive directors’ compensation.

          In its judgment, the Supreme Court held that the compensation of directors “in their capacity as such” includes the compensation of both deliberative and executive functions and that, accordingly, approval of the compensation of directors who discharge executive functions is subject not only to article 249 of the Corporate Enterprises Law (i.e., the requirement for there to be a contract approved by a two-thirds majority of the board) but also to article 217. Consequently:

          1. the bylaws must stipulate the compensation scheme for executive functions (although no reference is made to amount); and
          2. the amount payable for the discharge of executive functions must be included in the maximum annual amount stipulated by the shareholders’ meeting.

          The judgment was handed down in connection with a limited liability company and, furthermore, some of its considerations refer specifically to unlisted companies, although it does not clearly and indubitably exclude listed companies (which are, however, subject to specific rules under the compensation policy).

          The publication of this Supreme Court judgment gives rise to the need for an individualized analysis of each specific case, so that the appropriate measures can be taken to enable companies to bring their policies into line with its conclusions.

          The author of this post is Pablo Vinageras.

          Una vez convencidos de la utilidad de la mediación como método de solucionar conflictos entre franquiciador y franquiciado y tomada la decisión de incluir en los contratos una cláusula que la prevea, el último paso sería qué elementos debemos tener en cuenta a la hora de redactarla.

          1. La negociación previa. Parece recomendable que ambas partes se concedan la posibilidad de intentar resolver el problema con una negociación formal previa. La mediación no excluye el intento previo llevado a cabo por los interesados o sus abogados, no obstante, parece recomendable que se prevea contractualmente un plazo adecuado a las circunstancias. La experiencia demuestra que alargar demasiado esta fase puede producir como resultado que el conflicto se vaya agravando y resulte más complicado incluso acercarse a la mediación.
          2. La cláusula puede igualmente prever el lugar en el que la mediación se llevará a cabo. De nuevo en este punto las partes son libres. Es conveniente que éste sea preciso indicando la ciudad.
          3. El idioma en el que va a desarrollarse la mediación es facultad de las partes. No habrá dificultad en mediaciones en las que ambas partes usen el mismo idioma, pero es muy conveniente en contratos con partes que los tengan diferentes, o que pertenezcan a regiones o países con diferentes lenguas cooficiales. La redacción o firma del contrato en un idioma concreto no presupone que ese haya de ser el idioma de la mediación. Es un elemento a tener muy en cuenta también a la hora de solicitar un mediador que pueda usar dicho idioma en la institución de mediación elegida.
          4. El procedimiento puede decidirse igualmente por las partes. En particular, el número de sesiones, la duración máxima prevista, la participación de asesores, etc. Téngase en cuenta que la mayor o menor regulación permitirá evitar futuros conflictos al respecto, aunque también supondrá enmarcar más la libertad de las partes que, no obstante, permanecerán libres para modificar de común acuerdo lo pactado.
          5. El plazo de duración de la mediación puede igualmente contemplarse. Ello permitiría, por ejemplo, evitar que la mediación se alargue únicamente con fines estratégicos meramente procesales o para recabar información de la otra parte antes de iniciar un procedimiento, etc. Los mediadores profesionales, no obstante, son capaces de identificar estas maniobras teniendo la facultad también de poner ellos mismos fin a la mediación en caso de constatarlas.
          6. Elegir al mediador o a la institución de mediación es una elección importante. Las partes pueden ponerse de acuerdo sobre quién será su mediador, indicar en el contrato los elementos para elegirlo, o someterse directamente a una Institución de Mediación para que sea ésta quien lo designe conforme a sus propias reglas. Estas decisiones pueden ser alternativas (es decir, que las partes se pongan de acuerdo sobre el mediador y, en caso de falta de acuerdo, someterse a una institución que lo nombre), o pueden ser únicas. La designación de una Institución requiere que tenga la suficiente garantía de estabilidad (evitar designar instituciones de corta trayectoria o sin demasiada garantía de futuro), con un panel suficiente de mediadores en función de las características de la mediación (idioma, competencia, experiencia) y que permita la flexibilidad necesaria para su funcionamiento.
          7. Por último, es conveniente que la cláusula incluya una vía alternativa en caso de que la mediación no llegue a buen puerto bien porque las partes no llegan a un acuerdo, bien porque se retiran de la mediación. Recordemos que la mediación no cierra las puertas a que el conflicto sea resuelto mediante el recurso a la jurisdicción ordinaria o al arbitraje. Y en materia de arbitraje especializado en contratos de distribución el IDArb (https://www.idiproject.com/content/idarb-idi-arbitration-project) es una excelente opción.

          España: Convenio colectivo de trabajo y reducción de los complementos salariales

          31 de enero de 2018

          • España
          • Derecho Laboral

          Constituye el objeto de la presente Nota el análisis de las nuevas obligaciones que el RDL 6/2019 establece, en materia de igualdad, a cargo de todo tipo de Empresas (con independencia de cuál sea el número de trabajadores) y, concretamente, para aquéllas empresa que cuenten con 50 o más trabajadores.

          La principal novedad que encontramos a este respecto reside en la obligatoriedad, para empresas que cuenten con 50 o más trabajadores, de implantar un plan de igualdad, de conformidad con lo establecido en los artículos 45 y siguientes de la LOIEMH.

          En cuanto al contenido y las condiciones de implantación del Plan de Igualdad en las Empresas, encontramos las siguientes novedades:

          • Se enumeran taxativamente las materias y contenido mínimo que debe recoger todo plan de igualdad.
          • Se introduce, como materia que debe contener el Plan, un análisis sobre la Infrarrepresentación femenina en la Empresa.
          • El diagnóstico que debe realizar la empresa con carácter previo a la elaboración del Plan de Igualdad debe ser negociado con la representación legal de los trabajadores.
          • Se crea un Registro de Planes de Igualdad de las Empresas, en el que deben inscribirse todos los planes de igualdad implantados en las Empresas, con independencia del número de trabajadores que tengan.

          Por otro lado, el RDL 6/2019 da una nueva redacción al artículo 28 del Estatuto de los Trabajadores, que recoge la obligación de la Empresa de cumplir con la exigencia de igualdad de salario entre hombres y mujeres, estableciendo una serie de medidas y obligaciones a cargo de las Empresas, al objeto de procurar el efectivo cumplimiento de la igualdad salarial.

          En concreto, estas nuevas medidas adoptadas en el artículo 28 del ET son las siguientes:

          • Se especifica lo que ha de ser considerado como “trabajo de igual valor”, a fin de facilitar un único concepto y eliminar cualquier duda al respecto.
          • Las Empresas tienen la obligación de llevar un Registro Salarial, con los valores medios de los salarios, los complementos salariales y las percepciones extrasalariales de su plantilla, diferenciados por sexo y distribuidos por grupos profesionales, categorías profesionales o puestos de trabajo iguales o de igual valor.
          • El Registro Salarial deberá ser accesible a la representación legal de los trabajadores.
          • En las empresas con 50 o más trabajadores en las que el promedio de las retribuciones a los trabajadores de un sexo sea superior a los del otro en un 25% o más, deberá incluirse en el Registro Salarial una justificación de dicha diferencia, debiendo acreditar que la misma se debe a motivos ajenos al sexo de los trabajadores.

          El incumplimiento, por parte de las Empresas, de las obligaciones en materia de Igualdad y, en concreto, aquéllas relativas al Plan de Igualdad e Igualdad salarial entre hombres y mujeres, podrán comportar la imposición de importantes sanciones por parte de la Inspección de Trabajo y la TGSS.

          La Ley española del Contrato de Agencia y la Directiva europea prevén para el agente — salvo en ciertos casos —, una indemnización por clientela cuando la relación se termina, en función de la retribución percibida por el Agente durante la vida del contrato. Es, pues, una carga que en general todo empresario tendrá pendiente al terminar el contrato.

          La tentación es intentar librarse de su pago y para ello nos consultan con frecuencia acerca de estrategias o tácticas. A continuación intento resumir algunos de ellos indicando las posibilidades de éxito (o no) que pueden tener, tanto en la fase de negociación/redacción del contrato, como en la fase de resolución.

          1. Cambiar el nombre del contrato

          La primera idea es hacer un contrato “parecido” al de agencia o llamarlo de otra forma (de servicios, de intermediación, de representación…). Ahora bien, el cambio de nombre no tiene ninguna incidencia ya que los contratos “son lo que son” y no lo que las partes los llaman. Así que si hay una intermediación continuada a cambio de una remuneración, hay muchas posibilidades de que un juez lo considere como contrato de agencia, lo llamemos como lo llamemos. Y ello con todas sus consecuencias.

          1. Limitar la indemnización en el contrato

          Otra tentación en la fase de redacción del contrato es acordar una indemnización menor que el máximo previsto legalmente, prever su pago por adelantado mientras dura el contrato, o directamente eliminarla.

          Ninguna de estas soluciones sería válida si intentan disminuir la posibilidad de que el Agente perciba el máximo legal, o por motivos no previstos en la Ley ni la Directiva. La ley manda.

          1. Encadenar varios contratos de agencia

          Dado que la indemnización se calcula según las remuneraciones de los últimos cinco años y de la clientela creada, la tentación es encadenar varios contratos de menor duración para considerar solo los clientes del último período.

          Esto no necesariamente será una buena idea si el último año, por ejemplo, se crearon muchos clientes, pero, además puede resultar inútil porque la ley española y la Directiva prevén que el contrato de duración determinada que continúa ejecutándose se transforma en indefinido. El juez podrá considerar todos los contratos encadenados como uno único.

          Para que esta estrategia tenga posibilidad de ser útil, habría que liquidar cada contrato sustituido, declarar que “nada tienen que reclamarse las partes” y que los sucesivos contratos estén suficientemente separados y tengan diferente entidad, redacción, extensión, etc. Si se plantea bien, podría ser una vía para liberarse de una mayor indemnización por clientela: un pacto bien redactado por el que el agente declara recibida la indemnización, y que el siguiente contrato no reitere miméticamente y de forma inmediata el contenido del anterior.

          1. Someter el contrato a un derecho extranjero

          En contratos internacionales la tentación es someter el contrato a un derecho que no sea el español, en particular, cuando el Principal es de dicha nacionalidad.

          La idea puede ser buena o mala según el derecho elegido y siempre que guarde alguna relación con el negocio. Como se sabe, en la UE la Directiva establece unas condiciones mínimas que las legislaciones nacionales deben respetar. Pero nada impide a estas leyes prever condiciones más ventajosas para los agentes. Esto hace que, por ejemplo, elegir el derecho francés sería, en general, una idea mala para el Principal porque la indemnización en ese país suele ser mayor.

          En algunos casos, la elección de un derecho de fuera de la Unión Europea que no prevea la indemnización por clientela cuando el agente es europeo ha sido rechazada por considerar que se está vulnerando el derecho mínimo reconocido en la Directiva.

          1. Someter el contrato a reglas y jueces no nacionales

          Otra posibilidad menos frecuente es la de someter el contrato a normas no de un país, sino a normas mercantiles generales (Lex Mercatoria) y acordar una indemnización menor.

          Esto no es muy frecuente, y puede no resultar muy útil según quien haya de interpretar el contrato y dónde resida el agente. Si, por ejemplo, el agente reside en España y quien va a interpretar el contrato es un juez español, con mucha probabilidad va a interpretar el contrato según sus propias normas sin verse vinculado por lo que prevea el contrato. De nada habrá servido.

          1. Someter el contrato a arbitraje

          Diferente será la cuestión si el contrato está sometido a arbitraje. En este caso los árbitros, normalmente, no están sometidos necesariamente a interpretar un contrato según las normas nacionales propias si el contrato está sometido a otras diferentes. En este caso sí que cabría la posibilidad de que se sintieran más libres de considerar exclusivamente el contrato, sobre todo cuando el agente no fuera de su nacionalidad, desconociera cuál es el derecho del país del agente y no se viera vinculado por las garantías previstas para su protección.

          1. La mediación en el contrato de agencia

          La mediación es una forma alternativa de solucionar un conflicto que puede usarse también en contratos de agencia. Con ella son las partes, ayudadas por el mediador, quienes resolverían la controversia.

          En este caso, dado que el mediador no es quien decide, es posible que las partes lleguen libremente a un acuerdo por el que el agente se conforme con una indemnización menor si, por ejemplo, se le confieren otras ventajas, reconocimientos, si llega al convencimiento de tener menor derecho, dificultad de prueba, si prefiere ahorrarse otros costes, tiempo, energías para su nuevo negocio, etc.

          Los mediadores velan por el equilibrio de las partes, pero nada impide que ambas concluyan una indemnización menor al máximo legal (tras la conclusión del contrato es posible negociar una inferior a la legal). Prever la mediación en el contrato de agencia, es, por lo tanto, una buena idea para poder abordar y negociar mejor esta indemnización por clientela. Además, prever la mediación no limita los derechos de ninguna de las partes para retirarse y proseguir por la vía judicial exigiendo el máximo legal.

          1. Imputar al agente un incumplimiento previo

          Cuando el contrato termina, esta es, sin duda, la causa que se intenta con más frecuencia: cuando se quiere resolver el contrato, el Principal intenta argumentar que el Agente lo ha incumplido previamente y que por eso se está resolviendo el contrato.

          La ley y la Directiva exceptúan el pago de la indemnización cuando el agente ha incumplido antes. Pero en ese caso, el Principal deberá poder demostrarlo cuando el agente lo discuta. Y no siempre será fácil. El Principal ha de aportar pruebas claras y para ello será conveniente recoger información y documentación sobre el incumplimiento con la suficiente y antelación y de importancia suficiente (no suelen aceptarse incumplimientos menores). Por lo tanto, si el Principal desea seguir este camino, es recomendable preparar los argumentos y las pruebas antes de que finalice el contrato. Es muy recomendable, por tanto, ponerse en contacto con un asesor experto cuanto antes: él lo ayudará a minimizar los riesgos.

          The procedure to incorporate a foreign owned company in Spain is, in principle, easy and straight forward, however it is necessary to take into account certain new requirements derived from the tax and the anti-money laundering regulations, which could cause long delays in the incorporation process, even to EU and US companies, if they are not well advised and managed from the beginning of the procedure.

          The first step consist in collecting information about the foreign shareholder, in order to be able to prove its legal existence and activities: the foreign shareholder(s) will have to grant before a Notary Public in its country of residence a power of attorney authorising somebody in Spain to obtain its tax identification number (“NIE”), and also represent it before the Spanish notary when signing the deed of incorporation. In case the foreign shareholder is an individual person, the NIE should be applied for before the Spanish police or the Spanish Consulate at the country where the investor lives.

          If the shareholder is a corporation, apart from the Power of Attorney, it will have to obtain a certificate from its Companies’ Registry or Chamber of Commerce, stating its legal existence and main characteristics. This document is called “good standing certificate” (in the UK and US), “K-bis” (in France), “KvK” (in the Netherlands) or “visura” (in Italy). These two documents, the Power of Attorney mentioned in the above paragraph and the certificate from the Companies’ Registry, will have to be Apostilled or legalized by the correspondent Ministry, and Sworn translated into Spanish. Please note that we use to draft bilingual powers of attorney in order to avoid its sworn translation.

          The foreign shareholder will have to prove that its income is obtained from legal activities in order to be able to open a bank account in the name of the new company. The main document to prove this could be the Corporate or the Personal Income Tax return filed in its country of residence, but there could be other means, especially in case of individual persons.

          In case of a corporate shareholder, it will be necessary as well to declare, in principle through a public deed granted in Spain, who are the individual persons who, directly or through other companies, will hold more than a 25% interest in the new company to be incorporated. In case nobody holds more than a 25% (i.e. because there are 5 individual shareholders, holding each of them a 20%), it is declared that the effective control of the new company corresponds to its director.

          At this stage, it is also necessary to mention that the person(s) who will be the director(s) of the new company, in case they are foreigners, will also need to obtain their personal “NIE”. The NIE should be applied for before the Spanish police (this could be done by a proxy duly authorised though a Power of Attorney granted by the foreign director) or before the Spanish Consulate nearest to the city where the investor lives. In order to be a director of a Spanish company it is not necessary to be a shareholder, nor to have residence and work permit in Spain (provided the foreign director does not live in Spain).

          Meanwhile the necessary documents (Powers of Attorney, Companies’ Registry certificate, etc.) are being prepared by the foreign shareholder, the lawyer in Spain will apply for the new company’s name. It is advisable to point out that generic or usual names are not available quite often, therefore it is necessary to think in original names. Three different names could be applied for simultaneously.

          The drafting of the company’s Articles of Association or By Laws could be very quick, except if the company is going to have several shareholders and they wish specific clauses. In this case, it is also advisable to draft a Shareholders Agreement. The Shareholders’ Agreement could just contain some basic rules on dedication, compensation, non-competition, etc. and some more sophisticated rules on the sale of shares (tag along and drag along rights). As regards the By-Laws, they should mention the company’s name, its activity or activities, address in Spain –which cannot be just a P.O. Box-, share capital, number of shares and its face value, and starting date for the fiscal year, among other standard clauses.

          The management of the company could be organized through a sole director, two directors who could act jointly or separately, and in case there are more than three directors, they should organize themselves through a Board of Directors, being usual in this case to appoint a C.E.O. In order to be a director it is not necessary to be a shareholder. Under Spanish laws, the director(s) could be held liable for some company’s debts under certain circumstances which are legally defined. For this reason, it is necessary that the directors formally accept their appointment (personally appearing before the Notary or through a Power of Attorney).

          Before the incorporation, it will be necessary that either the new company’s director (the person to be appointed) or the representative of the corporate shareholder appears personally before the bank where the company will have its first bank account and signs the correspondent documents (KYC regulation). Once the bank account is opened, the shareholder will have to send a bank transfer for the new company’s share capital. In Spain, the minimum share capital for a limited company (S.L.) is Euros 3.000, while for a “Sociedad Anónima” (S.A.) it is Euros 60.000, but only 25% should be paid off at the incorporation moment. It is interesting to note that contributions to the share capital could be made in cash – which is the most common operation, especially at the incorporation – or in kind, with any type of assets: real estate, machinery, goods, trademarks, etc. The money for the share capital should be sent to the new company’s bank account from an account owned by the shareholder (or from each account owned by each shareholder, should they be several ones), not by any other different person. Once the Spanish bank receives the transfer, it will issue a certificate, which is necessary in order to incorporate the company.

          Once all the documents are ready, it is possible within very few days (almost immediately) to make the appointment with the Notary and sign the public deed of incorporation. This can be done at any notary in Spain, not being necessary that the notary practises at the same city where the company will have its corporate address. In order to summarize, the list of the necessary documents is:

          • Power(s) of Attorney granted by the foreign shareholder(s), apostilled and sworn translated.
          • Certificate regarding the legal existence of the foreign shareholder (only if it is a corporation), apostilled and sworn translated.
          • Statement on who are the last individual shareholders holding more than 25% interest in the new company, directly or indirectly (only in case of corporate shareholders).
          • NIE of the foreign shareholder(s).
          • NIE of the new company’s director(s), should they be a foreigners.
          • Certificate for the new company’s name.
          • Articles of Association.
          • Bank certificate regarding the contribution to the new company’s share capital.

          The deed of incorporation is signed by the proxy (or the individual shareholder(s), should they prefer to personally appear before the notary) before the chosen public notary, being also necessary to sign an official form to report the foreign investment to a public registry depending on the Spanish Ministry of Finance.

          Once the deed of incorporation is signed, the next steps consist in applying before the tax authorities to obtain the new company’s tax number (NIF / CIF) and filing the deed of incorporation before the Companies’ Registry. Some banks do allow new companies to operate once they have the NIF (which could be 2-3 days after the incorporation), while others request to wait until the deed of incorporation is filed at the Companies’ Registry (2-3 weeks).

          An estimation of the necessary time to complete all the procedure is 30-45 days, but of course the main delay is related to speed of the foreign investor in obtaining the necessary documents.

          Please note that if you wish to incorporate a foreign owned company in Spain it is always necessary to seek specific professional advice, as each case is different and regulations and the application of such regulations vary from time to time. The above article just explains the main steps and requirements for the incorporation of a company.

          Arbitration is a well-known system for dispute resolutions, and works as an alternative to judicial procedures. Parties are free to choose this system and to submit their conflicts to specific arbitrators or institutions.

          It is usually considered that arbitration is a good way to solve conflicts but preferable to those arisen between big corporations or involving important amounts of money. Although this assumption is generally accepted, there is an alternative for distribution disputes suitable for smaller companies and cases with lower amounts claimed.

          And here is the essential question: why a manufacturer/franchisor or a distributor/agent/franchisee should choose a specialized arbitration for their agreements instead of a more general one or, even, a judicial procedure? The answer seems clear: an arbitrator with knowledge not only in procedural questions but in substantive matters will be able to better understand the conflict between the parties and, therefore, to grant a better award. Take into account that, for instance in my Country, Spain, a Judge of First instance can deal in the same day with a distribution contract, a construction case, a conflict between heirs, and a discussion in a community of owners. All of this requires the analysis of different facts and completely different legislations and it is true that specific commercial problems do not usually have judges experts in international trading. But, how to choose a good specialized arbitrator? And, how to choose the arbitral procedure and the institution in terms of organization, neutrality, costs and time?

          The IDArb was created in 2016 by the International Distribution Institute (www.idiproject.com) in collaboration with the Chambre de Commerce d’Industries et de Services de Genève (CCIG www.ccig.ch) and the Swiss Chambers’ Arbitration Institution (SCAI www.swissarbitration.org) and offers to the distribution sector (distribution, agency, franchising, selective distribution) a specialized, expedited and affordable arbitration procedure, not only for big international corporations but also for smaller cases. In fact, the expedited procedure is particularly foreseen for amounts below one million CHF (approx. 880.000 €).

          The objectives and main characteristics of IDArb which make it suitable for all the distribution disputes are:

          1. A list of specialized arbitrators experts in this particular field is available for ad hoc or institutional arbitration and IDArb is able to assist the parties to choose one of them.

          Specialized arbitrators from different countries and legal cultures have been appointed by a Selecting Committee reviewing their experience in one or more fields of distribution law. Therefore, parties can trust that the arbitrator will have concrete skills in the business with an in-depth understanding of the disputed issues. This is not a general knowledge on commercial law, but a concrete one on distribution, expressly verified by the Committee. Parties can even examine some examples of cases in which every arbitrator has been involved in.

          1. In order to maintain its high quality, the IDArb organizes training seminars for its appointed arbitrators. In these seminars, they are able to discuss about the general management of the arbitration, the procedural aspects and how to solve possible incidents in collaboration with the Institutions and their Rules. This will make all the proceedings more manageable and the possible difficulties more easily solved. Last seminar took place in Geneva in November 8, 2018 and participants have discussed, amongst other subjects, on evidences, witnesses and document production.
          2. The expedited arbitration procedure permits the parties to have a tailored procedure managed by SCAI under the Swiss Rules of International Arbitration, specially adapted for small disputes in the field of distribution.
          3. Time is also an essential element: the award in the expedited procedure will be issued in a maximum term of six months (only exceptional circumstances permit the Court to extend such time-limit), and, if parties agree, it can be decided only on documentary evidence.
          4. Costs are reasonable and known in advance.
          5. And, as final but important remark, IDArb has also adopted some recommendations where, upon request of the parties, mediation is favoured, the arbitrator my consider giving a preliminary non-binding and provisional assessment of the dispute and should have a pro-active position in order to facilitate an amicable settlement.

          Spanish Law on Entrepreneurship (Law 14/2013) has approved new cases where foreigners from non-European Union countries can obtain the residence permit in Spain through the execution of investments:

          1. Investments in real estate for an amount equal or higher than € 500.000 (Five Hundred Thousand Euros). The investment can be made in one or more properties, but at least € 500.000 should be free of encumbrances (mortgage, i.e.). If the price is higher than € 500.000, the rest of the amount could be paid through mortgage.
          2. Financial investments for a value equal or higher than 1 million Euros. This type of investment includes listed and non-listed shares, in case of non-listed shares they could be from already operating companies or newly incorporated ones, investment funds, and deposits in Spanish banks.
          3. Investment in Spanish sovereign debt for an amount equal or higher than 2 million Euros.
          4. To carry on a business project in Spain that was considered as being of public interest. To this purpose, one of these conditions should be met: creation of jobs, execution of an investment that has a positive impact in the region where it is located, or a relevant contribution to scientific or technological innovation.

          The visa granted through the execution of these investments is valid during at least one year, and in order to obtain the residence permit some other requirements should be met:

          • to not stay previously in Spain in an illegal situation,
          • to have more than 18 years,
          • to not have criminal records,
          • to have a health insurance (hired from a company operating in Spain)
          • to have financial means for the stay in Spain (i.e. a bank deposit, or income from leases or dividends. Payroll does not qualify for this purpose).

          If the above requirements are met, a two years residence and work permit could be granted. After this term, the residence permit can be extended for successive five years periods. The investments should be kept during all these periods. This permit does not request the foreigner to live in Spain for more than six months; therefore it will not be cancelled if the foreigner lives in another country.

          The residence and work permit is granted to the individual who executes the investment. If he/she is married and/or has children or ancestors who depend on the investor, it is possible to apply for their visa at the same time or later on. It is possible to execute the investment through a company owned by the investor, provided it is not a company domiciled in a tax heaven country.

          The Spanish visa allows free movements within the EU countries (Schengen space). The valid travelling document is the passport.

          Foreigners who wish to carry on a self-employment project in Spain could obtain the work and residence permit, but through a different procedure than the above mentioned, and these cases the minimum investment amount is lower.

          Investment in real estate

          The investment in real estate could be in residential, commercial or industrial properties. The property could be leased to third parties before or after the acquisition, or used by the investor. For ambitious investors, there are several possibilities to structure the investment in buildings and apartments and to a higher return of the investment.

          There are some costs related to the acquisition of real estate: the acquisition itself is taxed by Transfer Tax at rates ranging from 6 to 10% on the acquisition price, depending on each Spanish region where the property is located, to be paid by the buyer. Besides, the buyer should pay the Notary Public and Property Registrar’s fees, which approximately amount 3% of the acquisition price (the addition of both of them). These amounts are paid once, when the property is acquired.

          The annual costs related to the ownership of real estate in Spain are the following ones:

          • IBI or local property tax, whose amount is calculated based on the value and location of the property.
          • “Community expenses”, that is those expenses related to the maintenance of the common areas of the building where the property is located: cleaning, lighting, etc.
          • In some cases, also a small tax for garbage should be paid to the Town Council.
          • Owners should file the Spanish Personal Income Tax Return, and pay a percentage between 1,1% and 2% of the property’s “cadastral value” (official value), in case the property is not leased to a third party. If the property is leased, the owner should also file the Personal Income Tax Return based on the amounts obtained from the lease.

          Besides, owners should also pay the expenses related to their property: ordinary maintenance expenses, insurance, electricity and water, etc.

          In Spain, the property right is considered as a full right, which implies that the owner can use the property by himself, can lease it to third parties, can mortgage or encumber it, can sell or gift it to any third party and can pass it to his heirs through a will.

          The only limits to the use of the property by its owner or the persons appointed by him are those established by the civic rules regarding noises, pets, exterior image of the property, etc.

          Regarding the lease of the property, in principle it is free, and the rights and obligations of landlord and tenant are those provided by the private lease agreement entered between both parties and the Spanish Urban Leases Law (Ley de Arrendamientos Urbanos). However, nowadays many Spanish cities (and specially Barcelona) have approved strong limits to the so called touristic leases, which are the short term (days or weeks) leases, and request a special license.

          It is important to point out that foreigners who become residents in Spain can grant their will according to Spanish inheritance laws (according to EU Regulation 650/2012), which slightly vary depending on each Spanish region. In Catalonia, for example, the testator can freely appoint who will be his heirs.

          Financial investment

          Financial investments can be executed through different types of targets, being always the minimum amount 1 million Euros:

          • Shares of companies listed in the Spanish Stock Market.
          • Shares of non-listed companies, which could be already operating companies or newly incorporated ones. In both cases, there are no limits as regards the percentage of shares that can be owned by foreigners, and the activity sectors restricted to non EU foreign investment are very few (gambling, defense, aviation, TV and radio). Foreigners can be appointed Directors of Spanish companies with the only requirement of having previously obtained the so called “N.I.E.”, which is the Spanish identification number for foreigners.

          In case of a newly incorporated company, the € 1 million requested as investment would constitute the company’s share capital, and can be used for the startup of the company’s activities: for example, acquisition of goods, payment of salaries and rentals, payment of purveyors and subcontractors, etc.

          Spanish companies have access to all European markets and have a privileged position for trading with Latin American countries.

          • Investment funds: Spanish financial entities offer a very wide range of investment funds, from very conservative to high risk.

          Deposit in a bank

          The main advantage of a real estate investment compared to a financial investment is that the requested amount is only € 500.000 for real estate, while for a financial investment is twice this amount. During the past years since the Law on Entrepreneurship became in force, investment in real estate has been the most popular way for obtaining the residence permit in Spain, probably because at that time (2013-2016) real estate market prices were quite low due to the crash in 2008.

          However, the process to acquire a property in Spain is not so easy compared to the acquisition of a share in an investment fund or making a bank deposit: the investor has to choose the property, which normally requires one or two visits to Spain, the price and sale conditions have to negotiated and drafted, the purchase deed has to be signed before a Notary Public (by the investor or his proxy), there are taxes and expenses related to the acquisition, and once the property is acquired, it is necessary to pay ongoing expenses and taxes, and maintain the property in good condition.

          Compared to this, the investment in funds or making a bank deposit only requires one visit to the bank by the investor, in order to sign the correspondent documents.  There are not related taxes or expenses, and the liquidity of the investment is  full  (that is,  the investment can be sold at any moment,  quite probably at the same or  at a higher price, but this is not guaranteed for real estate investments).

          How to open and operate a bank account in Spain

          In Spain, banks apply the regulations regarding anti-money laundering, which include the KYC (Know Your Client) rules and the obligation to prove the legal origin of the funds. The KYC rules imply the need for the investor to appear personally before the bank at least once, previously to operating the bank account. The legal origin of the funds can be proved through different means:

          • In case of employees, through the payroll splits, or a certificate issued by the employer, or the investor’s personal income tax return.
          • In case of self-employed individuals, through their personal income tax return, or another type of documents proving their professional activity.
          • In case of company owners, through the company’s financial statements.
          • If the investor has obtained the funds necessary for the investment through personal loans, the loan agreements should be provided, plus the documents proving the legal origin of the funds provided by the lenders.
          • Other documents, for example, regarding dividends or income from the lease of properties owned by the investor could be provided.

          All documents should be legalized by a Notary Public or the Spanish Consulate, and sworn translated into Spanish.

          Please note that this article is aimed to provide a general overview on Spanish rules regarding the above matters, but it does not constitute any kind of comprehensive information on them, and in any case specific legal advice should be sought prior to taking any decision.

          En todas las operaciones de M&A una de las cuestiones que merece un capítulo especial en cuanto a su análisis, determinación y negociación son las contingencias fiscales. Aunque las partes puedan estar más o menos de acuerdo en el importe de dichas contingencias, negociar las posibles garantías que ha de otorgar el vendedor a fin de proteger al comprador de una posible reclamación por parte de las autoridades fiscales, el plazo de duración de las mismas, así como acordar los mecanismos de comunicación entre las partes (comprador y vendedor) y de defensa legal en caso de que se produzca tal reclamación, requiere ingentes esfuerzos negociadores.

          Cuando la operación de adquisición no se formaliza mediante la compra de las acciones o participaciones sociales de la sociedad que es objeto de adquisición (“shares deal”), sino mediante de la compra de los activos que forman una unidad productiva (“assets deal”), la Ley General Tributaria (LGT) española establece un mecanismo que supone una excepción al principio, establecido por el artículo 42 de la misma Ley, consistente en establecer la responsabilidad solidaria del adquirente de una unidad productiva por las deudas tributarias contraídas por el anterior titular (“responsabilidad por sucesión de empresa”). Esto es, en principio, de acuerdo con el artículo 42 de la LGT, “serán responsables solidarios de la deuda tributaria las personas o entidades que sucedan por cualquier concepto en la titularidad o ejercicio de explotaciones o actividades económicas, por las obligaciones tributarias contraídas del anterior titular y derivadas de su ejercicio”.

          Sin embargo, esta responsabilidad solidaria del adquirente se puede limitar mediante la solicitud a las autoridades fiscales del certificado que regula el artículo 175.2 de la LGT. El certificado debe solicitarlo el que pretende adquirir la titularidad de una explotación económica, de conformidad con el titular actual, y la responsabilidad del adquirente queda limitada a las deudas, sanciones y responsabilidades mencionadas en la certificación. Si la certificación se expide sin mencionar importe alguno, o bien la Administración no la expide en el plazo de tres meses desde la solicitud, el solicitante quedará exento de la responsabilidad fiscal solidaria por sucesión de empresa.

          La certificación del artículo 175.2 de la LGT puede incluir las deudas por retenciones a cuenta del IRPF, las cuales en el caso de empresas con una gran número de trabajadores pueden ser de un importe elevado, sin embargo la responsabilidad solidaria del adquirente por sueldos, salarios y cuotas de seguridad social no puede limitarse mediante la solicitud de este certificado, sino que siempre sería solidaria con el transmitente de la unidad de negocio.

          La solicitud del certificado debe realizarse antes de formalizar la adquisición de la unidad productiva, aunque su emisión tenga lugar después de dicha adquisición (por supuesto, la posición prudente es no cerrar la adquisición hasta no disponer del certificado). La duración de este certificado es de un año, para el caso de obligaciones fiscales periódicas (por ejemplo, Impuesto sobre el Valor Añadido, Impuesto de Sociedades, retenciones a cuenta de Impuesto sobre la Renta de las Personas Físicas), y de tres meses para el caso de obligaciones fiscales no periódicas.

          Es muy importante solicitar el certificado correcto (“a efectos de sucesión de empresa de acuerdo con lo establecido en el art. 175.2 de la LGT”), y no confundirlo por ejemplo con el certificado referente a estar al corriente de las obligaciones tributarias, pues abundan en la jurisprudencia los casos de adquirentes de empresas que, habiendo solicitado un certificado erróneo a las autoridades fiscales y habiendo obtenido un certificado que no mostraba responsabilidades fiscales, posteriormente han sido condenados a pagar, en calidad de responsables solidarios, las deudas fiscales de la empresa transmitente.

          The remuneration of directors is an intricate issue and one that deserves adequate treatment. Recently there has been a turn that deserves special attention.

          In its judgment of February 26, 2018, the Supreme Court modified the interpretation given by most experts and authorities and by the Directorate-General of Registries and the Notarial Profession in its decision dated June 17, 2016, ratified by the Barcelona Provincial Appellate Court in its decision 295/2017 of June 30, 2017, on the regulation of executive directors’ compensation.

          In its judgment, the Supreme Court held that the compensation of directors “in their capacity as such” includes the compensation of both deliberative and executive functions and that, accordingly, approval of the compensation of directors who discharge executive functions is subject not only to article 249 of the Corporate Enterprises Law (i.e., the requirement for there to be a contract approved by a two-thirds majority of the board) but also to article 217. Consequently:

          1. the bylaws must stipulate the compensation scheme for executive functions (although no reference is made to amount); and
          2. the amount payable for the discharge of executive functions must be included in the maximum annual amount stipulated by the shareholders’ meeting.

          The judgment was handed down in connection with a limited liability company and, furthermore, some of its considerations refer specifically to unlisted companies, although it does not clearly and indubitably exclude listed companies (which are, however, subject to specific rules under the compensation policy).

          The publication of this Supreme Court judgment gives rise to the need for an individualized analysis of each specific case, so that the appropriate measures can be taken to enable companies to bring their policies into line with its conclusions.

          The author of this post is Pablo Vinageras.

          Una vez convencidos de la utilidad de la mediación como método de solucionar conflictos entre franquiciador y franquiciado y tomada la decisión de incluir en los contratos una cláusula que la prevea, el último paso sería qué elementos debemos tener en cuenta a la hora de redactarla.

          1. La negociación previa. Parece recomendable que ambas partes se concedan la posibilidad de intentar resolver el problema con una negociación formal previa. La mediación no excluye el intento previo llevado a cabo por los interesados o sus abogados, no obstante, parece recomendable que se prevea contractualmente un plazo adecuado a las circunstancias. La experiencia demuestra que alargar demasiado esta fase puede producir como resultado que el conflicto se vaya agravando y resulte más complicado incluso acercarse a la mediación.
          2. La cláusula puede igualmente prever el lugar en el que la mediación se llevará a cabo. De nuevo en este punto las partes son libres. Es conveniente que éste sea preciso indicando la ciudad.
          3. El idioma en el que va a desarrollarse la mediación es facultad de las partes. No habrá dificultad en mediaciones en las que ambas partes usen el mismo idioma, pero es muy conveniente en contratos con partes que los tengan diferentes, o que pertenezcan a regiones o países con diferentes lenguas cooficiales. La redacción o firma del contrato en un idioma concreto no presupone que ese haya de ser el idioma de la mediación. Es un elemento a tener muy en cuenta también a la hora de solicitar un mediador que pueda usar dicho idioma en la institución de mediación elegida.
          4. El procedimiento puede decidirse igualmente por las partes. En particular, el número de sesiones, la duración máxima prevista, la participación de asesores, etc. Téngase en cuenta que la mayor o menor regulación permitirá evitar futuros conflictos al respecto, aunque también supondrá enmarcar más la libertad de las partes que, no obstante, permanecerán libres para modificar de común acuerdo lo pactado.
          5. El plazo de duración de la mediación puede igualmente contemplarse. Ello permitiría, por ejemplo, evitar que la mediación se alargue únicamente con fines estratégicos meramente procesales o para recabar información de la otra parte antes de iniciar un procedimiento, etc. Los mediadores profesionales, no obstante, son capaces de identificar estas maniobras teniendo la facultad también de poner ellos mismos fin a la mediación en caso de constatarlas.
          6. Elegir al mediador o a la institución de mediación es una elección importante. Las partes pueden ponerse de acuerdo sobre quién será su mediador, indicar en el contrato los elementos para elegirlo, o someterse directamente a una Institución de Mediación para que sea ésta quien lo designe conforme a sus propias reglas. Estas decisiones pueden ser alternativas (es decir, que las partes se pongan de acuerdo sobre el mediador y, en caso de falta de acuerdo, someterse a una institución que lo nombre), o pueden ser únicas. La designación de una Institución requiere que tenga la suficiente garantía de estabilidad (evitar designar instituciones de corta trayectoria o sin demasiada garantía de futuro), con un panel suficiente de mediadores en función de las características de la mediación (idioma, competencia, experiencia) y que permita la flexibilidad necesaria para su funcionamiento.
          7. Por último, es conveniente que la cláusula incluya una vía alternativa en caso de que la mediación no llegue a buen puerto bien porque las partes no llegan a un acuerdo, bien porque se retiran de la mediación. Recordemos que la mediación no cierra las puertas a que el conflicto sea resuelto mediante el recurso a la jurisdicción ordinaria o al arbitraje. Y en materia de arbitraje especializado en contratos de distribución el IDArb (https://www.idiproject.com/content/idarb-idi-arbitration-project) es una excelente opción.

          Javier Gaspar

          Áreas de práctica

          • Arbitraje
          • Contratos de distribución
          • Franquicia
          • Derecho Internacional Privado
          • Deporte
          Contáctanos Javier

          Contacta con Javier





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            Contratos de distribución comercial – Seis cuestiones clave a considerar

            30 de noviembre de 2017

            • España
            • Agencia
            • Comercio internacional
            • Contratos
            • Contratos de distribución

            Constituye el objeto de la presente Nota el análisis de las nuevas obligaciones que el RDL 6/2019 establece, en materia de igualdad, a cargo de todo tipo de Empresas (con independencia de cuál sea el número de trabajadores) y, concretamente, para aquéllas empresa que cuenten con 50 o más trabajadores.

            La principal novedad que encontramos a este respecto reside en la obligatoriedad, para empresas que cuenten con 50 o más trabajadores, de implantar un plan de igualdad, de conformidad con lo establecido en los artículos 45 y siguientes de la LOIEMH.

            En cuanto al contenido y las condiciones de implantación del Plan de Igualdad en las Empresas, encontramos las siguientes novedades:

            • Se enumeran taxativamente las materias y contenido mínimo que debe recoger todo plan de igualdad.
            • Se introduce, como materia que debe contener el Plan, un análisis sobre la Infrarrepresentación femenina en la Empresa.
            • El diagnóstico que debe realizar la empresa con carácter previo a la elaboración del Plan de Igualdad debe ser negociado con la representación legal de los trabajadores.
            • Se crea un Registro de Planes de Igualdad de las Empresas, en el que deben inscribirse todos los planes de igualdad implantados en las Empresas, con independencia del número de trabajadores que tengan.

            Por otro lado, el RDL 6/2019 da una nueva redacción al artículo 28 del Estatuto de los Trabajadores, que recoge la obligación de la Empresa de cumplir con la exigencia de igualdad de salario entre hombres y mujeres, estableciendo una serie de medidas y obligaciones a cargo de las Empresas, al objeto de procurar el efectivo cumplimiento de la igualdad salarial.

            En concreto, estas nuevas medidas adoptadas en el artículo 28 del ET son las siguientes:

            • Se especifica lo que ha de ser considerado como “trabajo de igual valor”, a fin de facilitar un único concepto y eliminar cualquier duda al respecto.
            • Las Empresas tienen la obligación de llevar un Registro Salarial, con los valores medios de los salarios, los complementos salariales y las percepciones extrasalariales de su plantilla, diferenciados por sexo y distribuidos por grupos profesionales, categorías profesionales o puestos de trabajo iguales o de igual valor.
            • El Registro Salarial deberá ser accesible a la representación legal de los trabajadores.
            • En las empresas con 50 o más trabajadores en las que el promedio de las retribuciones a los trabajadores de un sexo sea superior a los del otro en un 25% o más, deberá incluirse en el Registro Salarial una justificación de dicha diferencia, debiendo acreditar que la misma se debe a motivos ajenos al sexo de los trabajadores.

            El incumplimiento, por parte de las Empresas, de las obligaciones en materia de Igualdad y, en concreto, aquéllas relativas al Plan de Igualdad e Igualdad salarial entre hombres y mujeres, podrán comportar la imposición de importantes sanciones por parte de la Inspección de Trabajo y la TGSS.

            La Ley española del Contrato de Agencia y la Directiva europea prevén para el agente — salvo en ciertos casos —, una indemnización por clientela cuando la relación se termina, en función de la retribución percibida por el Agente durante la vida del contrato. Es, pues, una carga que en general todo empresario tendrá pendiente al terminar el contrato.

            La tentación es intentar librarse de su pago y para ello nos consultan con frecuencia acerca de estrategias o tácticas. A continuación intento resumir algunos de ellos indicando las posibilidades de éxito (o no) que pueden tener, tanto en la fase de negociación/redacción del contrato, como en la fase de resolución.

            1. Cambiar el nombre del contrato

            La primera idea es hacer un contrato “parecido” al de agencia o llamarlo de otra forma (de servicios, de intermediación, de representación…). Ahora bien, el cambio de nombre no tiene ninguna incidencia ya que los contratos “son lo que son” y no lo que las partes los llaman. Así que si hay una intermediación continuada a cambio de una remuneración, hay muchas posibilidades de que un juez lo considere como contrato de agencia, lo llamemos como lo llamemos. Y ello con todas sus consecuencias.

            1. Limitar la indemnización en el contrato

            Otra tentación en la fase de redacción del contrato es acordar una indemnización menor que el máximo previsto legalmente, prever su pago por adelantado mientras dura el contrato, o directamente eliminarla.

            Ninguna de estas soluciones sería válida si intentan disminuir la posibilidad de que el Agente perciba el máximo legal, o por motivos no previstos en la Ley ni la Directiva. La ley manda.

            1. Encadenar varios contratos de agencia

            Dado que la indemnización se calcula según las remuneraciones de los últimos cinco años y de la clientela creada, la tentación es encadenar varios contratos de menor duración para considerar solo los clientes del último período.

            Esto no necesariamente será una buena idea si el último año, por ejemplo, se crearon muchos clientes, pero, además puede resultar inútil porque la ley española y la Directiva prevén que el contrato de duración determinada que continúa ejecutándose se transforma en indefinido. El juez podrá considerar todos los contratos encadenados como uno único.

            Para que esta estrategia tenga posibilidad de ser útil, habría que liquidar cada contrato sustituido, declarar que “nada tienen que reclamarse las partes” y que los sucesivos contratos estén suficientemente separados y tengan diferente entidad, redacción, extensión, etc. Si se plantea bien, podría ser una vía para liberarse de una mayor indemnización por clientela: un pacto bien redactado por el que el agente declara recibida la indemnización, y que el siguiente contrato no reitere miméticamente y de forma inmediata el contenido del anterior.

            1. Someter el contrato a un derecho extranjero

            En contratos internacionales la tentación es someter el contrato a un derecho que no sea el español, en particular, cuando el Principal es de dicha nacionalidad.

            La idea puede ser buena o mala según el derecho elegido y siempre que guarde alguna relación con el negocio. Como se sabe, en la UE la Directiva establece unas condiciones mínimas que las legislaciones nacionales deben respetar. Pero nada impide a estas leyes prever condiciones más ventajosas para los agentes. Esto hace que, por ejemplo, elegir el derecho francés sería, en general, una idea mala para el Principal porque la indemnización en ese país suele ser mayor.

            En algunos casos, la elección de un derecho de fuera de la Unión Europea que no prevea la indemnización por clientela cuando el agente es europeo ha sido rechazada por considerar que se está vulnerando el derecho mínimo reconocido en la Directiva.

            1. Someter el contrato a reglas y jueces no nacionales

            Otra posibilidad menos frecuente es la de someter el contrato a normas no de un país, sino a normas mercantiles generales (Lex Mercatoria) y acordar una indemnización menor.

            Esto no es muy frecuente, y puede no resultar muy útil según quien haya de interpretar el contrato y dónde resida el agente. Si, por ejemplo, el agente reside en España y quien va a interpretar el contrato es un juez español, con mucha probabilidad va a interpretar el contrato según sus propias normas sin verse vinculado por lo que prevea el contrato. De nada habrá servido.

            1. Someter el contrato a arbitraje

            Diferente será la cuestión si el contrato está sometido a arbitraje. En este caso los árbitros, normalmente, no están sometidos necesariamente a interpretar un contrato según las normas nacionales propias si el contrato está sometido a otras diferentes. En este caso sí que cabría la posibilidad de que se sintieran más libres de considerar exclusivamente el contrato, sobre todo cuando el agente no fuera de su nacionalidad, desconociera cuál es el derecho del país del agente y no se viera vinculado por las garantías previstas para su protección.

            1. La mediación en el contrato de agencia

            La mediación es una forma alternativa de solucionar un conflicto que puede usarse también en contratos de agencia. Con ella son las partes, ayudadas por el mediador, quienes resolverían la controversia.

            En este caso, dado que el mediador no es quien decide, es posible que las partes lleguen libremente a un acuerdo por el que el agente se conforme con una indemnización menor si, por ejemplo, se le confieren otras ventajas, reconocimientos, si llega al convencimiento de tener menor derecho, dificultad de prueba, si prefiere ahorrarse otros costes, tiempo, energías para su nuevo negocio, etc.

            Los mediadores velan por el equilibrio de las partes, pero nada impide que ambas concluyan una indemnización menor al máximo legal (tras la conclusión del contrato es posible negociar una inferior a la legal). Prever la mediación en el contrato de agencia, es, por lo tanto, una buena idea para poder abordar y negociar mejor esta indemnización por clientela. Además, prever la mediación no limita los derechos de ninguna de las partes para retirarse y proseguir por la vía judicial exigiendo el máximo legal.

            1. Imputar al agente un incumplimiento previo

            Cuando el contrato termina, esta es, sin duda, la causa que se intenta con más frecuencia: cuando se quiere resolver el contrato, el Principal intenta argumentar que el Agente lo ha incumplido previamente y que por eso se está resolviendo el contrato.

            La ley y la Directiva exceptúan el pago de la indemnización cuando el agente ha incumplido antes. Pero en ese caso, el Principal deberá poder demostrarlo cuando el agente lo discuta. Y no siempre será fácil. El Principal ha de aportar pruebas claras y para ello será conveniente recoger información y documentación sobre el incumplimiento con la suficiente y antelación y de importancia suficiente (no suelen aceptarse incumplimientos menores). Por lo tanto, si el Principal desea seguir este camino, es recomendable preparar los argumentos y las pruebas antes de que finalice el contrato. Es muy recomendable, por tanto, ponerse en contacto con un asesor experto cuanto antes: él lo ayudará a minimizar los riesgos.

            The procedure to incorporate a foreign owned company in Spain is, in principle, easy and straight forward, however it is necessary to take into account certain new requirements derived from the tax and the anti-money laundering regulations, which could cause long delays in the incorporation process, even to EU and US companies, if they are not well advised and managed from the beginning of the procedure.

            The first step consist in collecting information about the foreign shareholder, in order to be able to prove its legal existence and activities: the foreign shareholder(s) will have to grant before a Notary Public in its country of residence a power of attorney authorising somebody in Spain to obtain its tax identification number (“NIE”), and also represent it before the Spanish notary when signing the deed of incorporation. In case the foreign shareholder is an individual person, the NIE should be applied for before the Spanish police or the Spanish Consulate at the country where the investor lives.

            If the shareholder is a corporation, apart from the Power of Attorney, it will have to obtain a certificate from its Companies’ Registry or Chamber of Commerce, stating its legal existence and main characteristics. This document is called “good standing certificate” (in the UK and US), “K-bis” (in France), “KvK” (in the Netherlands) or “visura” (in Italy). These two documents, the Power of Attorney mentioned in the above paragraph and the certificate from the Companies’ Registry, will have to be Apostilled or legalized by the correspondent Ministry, and Sworn translated into Spanish. Please note that we use to draft bilingual powers of attorney in order to avoid its sworn translation.

            The foreign shareholder will have to prove that its income is obtained from legal activities in order to be able to open a bank account in the name of the new company. The main document to prove this could be the Corporate or the Personal Income Tax return filed in its country of residence, but there could be other means, especially in case of individual persons.

            In case of a corporate shareholder, it will be necessary as well to declare, in principle through a public deed granted in Spain, who are the individual persons who, directly or through other companies, will hold more than a 25% interest in the new company to be incorporated. In case nobody holds more than a 25% (i.e. because there are 5 individual shareholders, holding each of them a 20%), it is declared that the effective control of the new company corresponds to its director.

            At this stage, it is also necessary to mention that the person(s) who will be the director(s) of the new company, in case they are foreigners, will also need to obtain their personal “NIE”. The NIE should be applied for before the Spanish police (this could be done by a proxy duly authorised though a Power of Attorney granted by the foreign director) or before the Spanish Consulate nearest to the city where the investor lives. In order to be a director of a Spanish company it is not necessary to be a shareholder, nor to have residence and work permit in Spain (provided the foreign director does not live in Spain).

            Meanwhile the necessary documents (Powers of Attorney, Companies’ Registry certificate, etc.) are being prepared by the foreign shareholder, the lawyer in Spain will apply for the new company’s name. It is advisable to point out that generic or usual names are not available quite often, therefore it is necessary to think in original names. Three different names could be applied for simultaneously.

            The drafting of the company’s Articles of Association or By Laws could be very quick, except if the company is going to have several shareholders and they wish specific clauses. In this case, it is also advisable to draft a Shareholders Agreement. The Shareholders’ Agreement could just contain some basic rules on dedication, compensation, non-competition, etc. and some more sophisticated rules on the sale of shares (tag along and drag along rights). As regards the By-Laws, they should mention the company’s name, its activity or activities, address in Spain –which cannot be just a P.O. Box-, share capital, number of shares and its face value, and starting date for the fiscal year, among other standard clauses.

            The management of the company could be organized through a sole director, two directors who could act jointly or separately, and in case there are more than three directors, they should organize themselves through a Board of Directors, being usual in this case to appoint a C.E.O. In order to be a director it is not necessary to be a shareholder. Under Spanish laws, the director(s) could be held liable for some company’s debts under certain circumstances which are legally defined. For this reason, it is necessary that the directors formally accept their appointment (personally appearing before the Notary or through a Power of Attorney).

            Before the incorporation, it will be necessary that either the new company’s director (the person to be appointed) or the representative of the corporate shareholder appears personally before the bank where the company will have its first bank account and signs the correspondent documents (KYC regulation). Once the bank account is opened, the shareholder will have to send a bank transfer for the new company’s share capital. In Spain, the minimum share capital for a limited company (S.L.) is Euros 3.000, while for a “Sociedad Anónima” (S.A.) it is Euros 60.000, but only 25% should be paid off at the incorporation moment. It is interesting to note that contributions to the share capital could be made in cash – which is the most common operation, especially at the incorporation – or in kind, with any type of assets: real estate, machinery, goods, trademarks, etc. The money for the share capital should be sent to the new company’s bank account from an account owned by the shareholder (or from each account owned by each shareholder, should they be several ones), not by any other different person. Once the Spanish bank receives the transfer, it will issue a certificate, which is necessary in order to incorporate the company.

            Once all the documents are ready, it is possible within very few days (almost immediately) to make the appointment with the Notary and sign the public deed of incorporation. This can be done at any notary in Spain, not being necessary that the notary practises at the same city where the company will have its corporate address. In order to summarize, the list of the necessary documents is:

            • Power(s) of Attorney granted by the foreign shareholder(s), apostilled and sworn translated.
            • Certificate regarding the legal existence of the foreign shareholder (only if it is a corporation), apostilled and sworn translated.
            • Statement on who are the last individual shareholders holding more than 25% interest in the new company, directly or indirectly (only in case of corporate shareholders).
            • NIE of the foreign shareholder(s).
            • NIE of the new company’s director(s), should they be a foreigners.
            • Certificate for the new company’s name.
            • Articles of Association.
            • Bank certificate regarding the contribution to the new company’s share capital.

            The deed of incorporation is signed by the proxy (or the individual shareholder(s), should they prefer to personally appear before the notary) before the chosen public notary, being also necessary to sign an official form to report the foreign investment to a public registry depending on the Spanish Ministry of Finance.

            Once the deed of incorporation is signed, the next steps consist in applying before the tax authorities to obtain the new company’s tax number (NIF / CIF) and filing the deed of incorporation before the Companies’ Registry. Some banks do allow new companies to operate once they have the NIF (which could be 2-3 days after the incorporation), while others request to wait until the deed of incorporation is filed at the Companies’ Registry (2-3 weeks).

            An estimation of the necessary time to complete all the procedure is 30-45 days, but of course the main delay is related to speed of the foreign investor in obtaining the necessary documents.

            Please note that if you wish to incorporate a foreign owned company in Spain it is always necessary to seek specific professional advice, as each case is different and regulations and the application of such regulations vary from time to time. The above article just explains the main steps and requirements for the incorporation of a company.

            Arbitration is a well-known system for dispute resolutions, and works as an alternative to judicial procedures. Parties are free to choose this system and to submit their conflicts to specific arbitrators or institutions.

            It is usually considered that arbitration is a good way to solve conflicts but preferable to those arisen between big corporations or involving important amounts of money. Although this assumption is generally accepted, there is an alternative for distribution disputes suitable for smaller companies and cases with lower amounts claimed.

            And here is the essential question: why a manufacturer/franchisor or a distributor/agent/franchisee should choose a specialized arbitration for their agreements instead of a more general one or, even, a judicial procedure? The answer seems clear: an arbitrator with knowledge not only in procedural questions but in substantive matters will be able to better understand the conflict between the parties and, therefore, to grant a better award. Take into account that, for instance in my Country, Spain, a Judge of First instance can deal in the same day with a distribution contract, a construction case, a conflict between heirs, and a discussion in a community of owners. All of this requires the analysis of different facts and completely different legislations and it is true that specific commercial problems do not usually have judges experts in international trading. But, how to choose a good specialized arbitrator? And, how to choose the arbitral procedure and the institution in terms of organization, neutrality, costs and time?

            The IDArb was created in 2016 by the International Distribution Institute (www.idiproject.com) in collaboration with the Chambre de Commerce d’Industries et de Services de Genève (CCIG www.ccig.ch) and the Swiss Chambers’ Arbitration Institution (SCAI www.swissarbitration.org) and offers to the distribution sector (distribution, agency, franchising, selective distribution) a specialized, expedited and affordable arbitration procedure, not only for big international corporations but also for smaller cases. In fact, the expedited procedure is particularly foreseen for amounts below one million CHF (approx. 880.000 €).

            The objectives and main characteristics of IDArb which make it suitable for all the distribution disputes are:

            1. A list of specialized arbitrators experts in this particular field is available for ad hoc or institutional arbitration and IDArb is able to assist the parties to choose one of them.

            Specialized arbitrators from different countries and legal cultures have been appointed by a Selecting Committee reviewing their experience in one or more fields of distribution law. Therefore, parties can trust that the arbitrator will have concrete skills in the business with an in-depth understanding of the disputed issues. This is not a general knowledge on commercial law, but a concrete one on distribution, expressly verified by the Committee. Parties can even examine some examples of cases in which every arbitrator has been involved in.

            1. In order to maintain its high quality, the IDArb organizes training seminars for its appointed arbitrators. In these seminars, they are able to discuss about the general management of the arbitration, the procedural aspects and how to solve possible incidents in collaboration with the Institutions and their Rules. This will make all the proceedings more manageable and the possible difficulties more easily solved. Last seminar took place in Geneva in November 8, 2018 and participants have discussed, amongst other subjects, on evidences, witnesses and document production.
            2. The expedited arbitration procedure permits the parties to have a tailored procedure managed by SCAI under the Swiss Rules of International Arbitration, specially adapted for small disputes in the field of distribution.
            3. Time is also an essential element: the award in the expedited procedure will be issued in a maximum term of six months (only exceptional circumstances permit the Court to extend such time-limit), and, if parties agree, it can be decided only on documentary evidence.
            4. Costs are reasonable and known in advance.
            5. And, as final but important remark, IDArb has also adopted some recommendations where, upon request of the parties, mediation is favoured, the arbitrator my consider giving a preliminary non-binding and provisional assessment of the dispute and should have a pro-active position in order to facilitate an amicable settlement.

            Spanish Law on Entrepreneurship (Law 14/2013) has approved new cases where foreigners from non-European Union countries can obtain the residence permit in Spain through the execution of investments:

            1. Investments in real estate for an amount equal or higher than € 500.000 (Five Hundred Thousand Euros). The investment can be made in one or more properties, but at least € 500.000 should be free of encumbrances (mortgage, i.e.). If the price is higher than € 500.000, the rest of the amount could be paid through mortgage.
            2. Financial investments for a value equal or higher than 1 million Euros. This type of investment includes listed and non-listed shares, in case of non-listed shares they could be from already operating companies or newly incorporated ones, investment funds, and deposits in Spanish banks.
            3. Investment in Spanish sovereign debt for an amount equal or higher than 2 million Euros.
            4. To carry on a business project in Spain that was considered as being of public interest. To this purpose, one of these conditions should be met: creation of jobs, execution of an investment that has a positive impact in the region where it is located, or a relevant contribution to scientific or technological innovation.

            The visa granted through the execution of these investments is valid during at least one year, and in order to obtain the residence permit some other requirements should be met:

            • to not stay previously in Spain in an illegal situation,
            • to have more than 18 years,
            • to not have criminal records,
            • to have a health insurance (hired from a company operating in Spain)
            • to have financial means for the stay in Spain (i.e. a bank deposit, or income from leases or dividends. Payroll does not qualify for this purpose).

            If the above requirements are met, a two years residence and work permit could be granted. After this term, the residence permit can be extended for successive five years periods. The investments should be kept during all these periods. This permit does not request the foreigner to live in Spain for more than six months; therefore it will not be cancelled if the foreigner lives in another country.

            The residence and work permit is granted to the individual who executes the investment. If he/she is married and/or has children or ancestors who depend on the investor, it is possible to apply for their visa at the same time or later on. It is possible to execute the investment through a company owned by the investor, provided it is not a company domiciled in a tax heaven country.

            The Spanish visa allows free movements within the EU countries (Schengen space). The valid travelling document is the passport.

            Foreigners who wish to carry on a self-employment project in Spain could obtain the work and residence permit, but through a different procedure than the above mentioned, and these cases the minimum investment amount is lower.

            Investment in real estate

            The investment in real estate could be in residential, commercial or industrial properties. The property could be leased to third parties before or after the acquisition, or used by the investor. For ambitious investors, there are several possibilities to structure the investment in buildings and apartments and to a higher return of the investment.

            There are some costs related to the acquisition of real estate: the acquisition itself is taxed by Transfer Tax at rates ranging from 6 to 10% on the acquisition price, depending on each Spanish region where the property is located, to be paid by the buyer. Besides, the buyer should pay the Notary Public and Property Registrar’s fees, which approximately amount 3% of the acquisition price (the addition of both of them). These amounts are paid once, when the property is acquired.

            The annual costs related to the ownership of real estate in Spain are the following ones:

            • IBI or local property tax, whose amount is calculated based on the value and location of the property.
            • “Community expenses”, that is those expenses related to the maintenance of the common areas of the building where the property is located: cleaning, lighting, etc.
            • In some cases, also a small tax for garbage should be paid to the Town Council.
            • Owners should file the Spanish Personal Income Tax Return, and pay a percentage between 1,1% and 2% of the property’s “cadastral value” (official value), in case the property is not leased to a third party. If the property is leased, the owner should also file the Personal Income Tax Return based on the amounts obtained from the lease.

            Besides, owners should also pay the expenses related to their property: ordinary maintenance expenses, insurance, electricity and water, etc.

            In Spain, the property right is considered as a full right, which implies that the owner can use the property by himself, can lease it to third parties, can mortgage or encumber it, can sell or gift it to any third party and can pass it to his heirs through a will.

            The only limits to the use of the property by its owner or the persons appointed by him are those established by the civic rules regarding noises, pets, exterior image of the property, etc.

            Regarding the lease of the property, in principle it is free, and the rights and obligations of landlord and tenant are those provided by the private lease agreement entered between both parties and the Spanish Urban Leases Law (Ley de Arrendamientos Urbanos). However, nowadays many Spanish cities (and specially Barcelona) have approved strong limits to the so called touristic leases, which are the short term (days or weeks) leases, and request a special license.

            It is important to point out that foreigners who become residents in Spain can grant their will according to Spanish inheritance laws (according to EU Regulation 650/2012), which slightly vary depending on each Spanish region. In Catalonia, for example, the testator can freely appoint who will be his heirs.

            Financial investment

            Financial investments can be executed through different types of targets, being always the minimum amount 1 million Euros:

            • Shares of companies listed in the Spanish Stock Market.
            • Shares of non-listed companies, which could be already operating companies or newly incorporated ones. In both cases, there are no limits as regards the percentage of shares that can be owned by foreigners, and the activity sectors restricted to non EU foreign investment are very few (gambling, defense, aviation, TV and radio). Foreigners can be appointed Directors of Spanish companies with the only requirement of having previously obtained the so called “N.I.E.”, which is the Spanish identification number for foreigners.

            In case of a newly incorporated company, the € 1 million requested as investment would constitute the company’s share capital, and can be used for the startup of the company’s activities: for example, acquisition of goods, payment of salaries and rentals, payment of purveyors and subcontractors, etc.

            Spanish companies have access to all European markets and have a privileged position for trading with Latin American countries.

            • Investment funds: Spanish financial entities offer a very wide range of investment funds, from very conservative to high risk.

            Deposit in a bank

            The main advantage of a real estate investment compared to a financial investment is that the requested amount is only € 500.000 for real estate, while for a financial investment is twice this amount. During the past years since the Law on Entrepreneurship became in force, investment in real estate has been the most popular way for obtaining the residence permit in Spain, probably because at that time (2013-2016) real estate market prices were quite low due to the crash in 2008.

            However, the process to acquire a property in Spain is not so easy compared to the acquisition of a share in an investment fund or making a bank deposit: the investor has to choose the property, which normally requires one or two visits to Spain, the price and sale conditions have to negotiated and drafted, the purchase deed has to be signed before a Notary Public (by the investor or his proxy), there are taxes and expenses related to the acquisition, and once the property is acquired, it is necessary to pay ongoing expenses and taxes, and maintain the property in good condition.

            Compared to this, the investment in funds or making a bank deposit only requires one visit to the bank by the investor, in order to sign the correspondent documents.  There are not related taxes or expenses, and the liquidity of the investment is  full  (that is,  the investment can be sold at any moment,  quite probably at the same or  at a higher price, but this is not guaranteed for real estate investments).

            How to open and operate a bank account in Spain

            In Spain, banks apply the regulations regarding anti-money laundering, which include the KYC (Know Your Client) rules and the obligation to prove the legal origin of the funds. The KYC rules imply the need for the investor to appear personally before the bank at least once, previously to operating the bank account. The legal origin of the funds can be proved through different means:

            • In case of employees, through the payroll splits, or a certificate issued by the employer, or the investor’s personal income tax return.
            • In case of self-employed individuals, through their personal income tax return, or another type of documents proving their professional activity.
            • In case of company owners, through the company’s financial statements.
            • If the investor has obtained the funds necessary for the investment through personal loans, the loan agreements should be provided, plus the documents proving the legal origin of the funds provided by the lenders.
            • Other documents, for example, regarding dividends or income from the lease of properties owned by the investor could be provided.

            All documents should be legalized by a Notary Public or the Spanish Consulate, and sworn translated into Spanish.

            Please note that this article is aimed to provide a general overview on Spanish rules regarding the above matters, but it does not constitute any kind of comprehensive information on them, and in any case specific legal advice should be sought prior to taking any decision.

            En todas las operaciones de M&A una de las cuestiones que merece un capítulo especial en cuanto a su análisis, determinación y negociación son las contingencias fiscales. Aunque las partes puedan estar más o menos de acuerdo en el importe de dichas contingencias, negociar las posibles garantías que ha de otorgar el vendedor a fin de proteger al comprador de una posible reclamación por parte de las autoridades fiscales, el plazo de duración de las mismas, así como acordar los mecanismos de comunicación entre las partes (comprador y vendedor) y de defensa legal en caso de que se produzca tal reclamación, requiere ingentes esfuerzos negociadores.

            Cuando la operación de adquisición no se formaliza mediante la compra de las acciones o participaciones sociales de la sociedad que es objeto de adquisición (“shares deal”), sino mediante de la compra de los activos que forman una unidad productiva (“assets deal”), la Ley General Tributaria (LGT) española establece un mecanismo que supone una excepción al principio, establecido por el artículo 42 de la misma Ley, consistente en establecer la responsabilidad solidaria del adquirente de una unidad productiva por las deudas tributarias contraídas por el anterior titular (“responsabilidad por sucesión de empresa”). Esto es, en principio, de acuerdo con el artículo 42 de la LGT, “serán responsables solidarios de la deuda tributaria las personas o entidades que sucedan por cualquier concepto en la titularidad o ejercicio de explotaciones o actividades económicas, por las obligaciones tributarias contraídas del anterior titular y derivadas de su ejercicio”.

            Sin embargo, esta responsabilidad solidaria del adquirente se puede limitar mediante la solicitud a las autoridades fiscales del certificado que regula el artículo 175.2 de la LGT. El certificado debe solicitarlo el que pretende adquirir la titularidad de una explotación económica, de conformidad con el titular actual, y la responsabilidad del adquirente queda limitada a las deudas, sanciones y responsabilidades mencionadas en la certificación. Si la certificación se expide sin mencionar importe alguno, o bien la Administración no la expide en el plazo de tres meses desde la solicitud, el solicitante quedará exento de la responsabilidad fiscal solidaria por sucesión de empresa.

            La certificación del artículo 175.2 de la LGT puede incluir las deudas por retenciones a cuenta del IRPF, las cuales en el caso de empresas con una gran número de trabajadores pueden ser de un importe elevado, sin embargo la responsabilidad solidaria del adquirente por sueldos, salarios y cuotas de seguridad social no puede limitarse mediante la solicitud de este certificado, sino que siempre sería solidaria con el transmitente de la unidad de negocio.

            La solicitud del certificado debe realizarse antes de formalizar la adquisición de la unidad productiva, aunque su emisión tenga lugar después de dicha adquisición (por supuesto, la posición prudente es no cerrar la adquisición hasta no disponer del certificado). La duración de este certificado es de un año, para el caso de obligaciones fiscales periódicas (por ejemplo, Impuesto sobre el Valor Añadido, Impuesto de Sociedades, retenciones a cuenta de Impuesto sobre la Renta de las Personas Físicas), y de tres meses para el caso de obligaciones fiscales no periódicas.

            Es muy importante solicitar el certificado correcto (“a efectos de sucesión de empresa de acuerdo con lo establecido en el art. 175.2 de la LGT”), y no confundirlo por ejemplo con el certificado referente a estar al corriente de las obligaciones tributarias, pues abundan en la jurisprudencia los casos de adquirentes de empresas que, habiendo solicitado un certificado erróneo a las autoridades fiscales y habiendo obtenido un certificado que no mostraba responsabilidades fiscales, posteriormente han sido condenados a pagar, en calidad de responsables solidarios, las deudas fiscales de la empresa transmitente.

            The remuneration of directors is an intricate issue and one that deserves adequate treatment. Recently there has been a turn that deserves special attention.

            In its judgment of February 26, 2018, the Supreme Court modified the interpretation given by most experts and authorities and by the Directorate-General of Registries and the Notarial Profession in its decision dated June 17, 2016, ratified by the Barcelona Provincial Appellate Court in its decision 295/2017 of June 30, 2017, on the regulation of executive directors’ compensation.

            In its judgment, the Supreme Court held that the compensation of directors “in their capacity as such” includes the compensation of both deliberative and executive functions and that, accordingly, approval of the compensation of directors who discharge executive functions is subject not only to article 249 of the Corporate Enterprises Law (i.e., the requirement for there to be a contract approved by a two-thirds majority of the board) but also to article 217. Consequently:

            1. the bylaws must stipulate the compensation scheme for executive functions (although no reference is made to amount); and
            2. the amount payable for the discharge of executive functions must be included in the maximum annual amount stipulated by the shareholders’ meeting.

            The judgment was handed down in connection with a limited liability company and, furthermore, some of its considerations refer specifically to unlisted companies, although it does not clearly and indubitably exclude listed companies (which are, however, subject to specific rules under the compensation policy).

            The publication of this Supreme Court judgment gives rise to the need for an individualized analysis of each specific case, so that the appropriate measures can be taken to enable companies to bring their policies into line with its conclusions.

            The author of this post is Pablo Vinageras.

            Una vez convencidos de la utilidad de la mediación como método de solucionar conflictos entre franquiciador y franquiciado y tomada la decisión de incluir en los contratos una cláusula que la prevea, el último paso sería qué elementos debemos tener en cuenta a la hora de redactarla.

            1. La negociación previa. Parece recomendable que ambas partes se concedan la posibilidad de intentar resolver el problema con una negociación formal previa. La mediación no excluye el intento previo llevado a cabo por los interesados o sus abogados, no obstante, parece recomendable que se prevea contractualmente un plazo adecuado a las circunstancias. La experiencia demuestra que alargar demasiado esta fase puede producir como resultado que el conflicto se vaya agravando y resulte más complicado incluso acercarse a la mediación.
            2. La cláusula puede igualmente prever el lugar en el que la mediación se llevará a cabo. De nuevo en este punto las partes son libres. Es conveniente que éste sea preciso indicando la ciudad.
            3. El idioma en el que va a desarrollarse la mediación es facultad de las partes. No habrá dificultad en mediaciones en las que ambas partes usen el mismo idioma, pero es muy conveniente en contratos con partes que los tengan diferentes, o que pertenezcan a regiones o países con diferentes lenguas cooficiales. La redacción o firma del contrato en un idioma concreto no presupone que ese haya de ser el idioma de la mediación. Es un elemento a tener muy en cuenta también a la hora de solicitar un mediador que pueda usar dicho idioma en la institución de mediación elegida.
            4. El procedimiento puede decidirse igualmente por las partes. En particular, el número de sesiones, la duración máxima prevista, la participación de asesores, etc. Téngase en cuenta que la mayor o menor regulación permitirá evitar futuros conflictos al respecto, aunque también supondrá enmarcar más la libertad de las partes que, no obstante, permanecerán libres para modificar de común acuerdo lo pactado.
            5. El plazo de duración de la mediación puede igualmente contemplarse. Ello permitiría, por ejemplo, evitar que la mediación se alargue únicamente con fines estratégicos meramente procesales o para recabar información de la otra parte antes de iniciar un procedimiento, etc. Los mediadores profesionales, no obstante, son capaces de identificar estas maniobras teniendo la facultad también de poner ellos mismos fin a la mediación en caso de constatarlas.
            6. Elegir al mediador o a la institución de mediación es una elección importante. Las partes pueden ponerse de acuerdo sobre quién será su mediador, indicar en el contrato los elementos para elegirlo, o someterse directamente a una Institución de Mediación para que sea ésta quien lo designe conforme a sus propias reglas. Estas decisiones pueden ser alternativas (es decir, que las partes se pongan de acuerdo sobre el mediador y, en caso de falta de acuerdo, someterse a una institución que lo nombre), o pueden ser únicas. La designación de una Institución requiere que tenga la suficiente garantía de estabilidad (evitar designar instituciones de corta trayectoria o sin demasiada garantía de futuro), con un panel suficiente de mediadores en función de las características de la mediación (idioma, competencia, experiencia) y que permita la flexibilidad necesaria para su funcionamiento.
            7. Por último, es conveniente que la cláusula incluya una vía alternativa en caso de que la mediación no llegue a buen puerto bien porque las partes no llegan a un acuerdo, bien porque se retiran de la mediación. Recordemos que la mediación no cierra las puertas a que el conflicto sea resuelto mediante el recurso a la jurisdicción ordinaria o al arbitraje. Y en materia de arbitraje especializado en contratos de distribución el IDArb (https://www.idiproject.com/content/idarb-idi-arbitration-project) es una excelente opción.

            Ignacio Alonso

            Áreas de práctica

            • Agencia
            • Derecho Societario
            • Contratos de distribución
            • Franquicia
            Contáctanos Ignacio

            Contacta con Ignacio





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              España – Novedades en la regulación de la Protección de Datos

              30 de septiembre de 2017

              • España
              • Privacidad y Protección de Datos

              Constituye el objeto de la presente Nota el análisis de las nuevas obligaciones que el RDL 6/2019 establece, en materia de igualdad, a cargo de todo tipo de Empresas (con independencia de cuál sea el número de trabajadores) y, concretamente, para aquéllas empresa que cuenten con 50 o más trabajadores.

              La principal novedad que encontramos a este respecto reside en la obligatoriedad, para empresas que cuenten con 50 o más trabajadores, de implantar un plan de igualdad, de conformidad con lo establecido en los artículos 45 y siguientes de la LOIEMH.

              En cuanto al contenido y las condiciones de implantación del Plan de Igualdad en las Empresas, encontramos las siguientes novedades:

              • Se enumeran taxativamente las materias y contenido mínimo que debe recoger todo plan de igualdad.
              • Se introduce, como materia que debe contener el Plan, un análisis sobre la Infrarrepresentación femenina en la Empresa.
              • El diagnóstico que debe realizar la empresa con carácter previo a la elaboración del Plan de Igualdad debe ser negociado con la representación legal de los trabajadores.
              • Se crea un Registro de Planes de Igualdad de las Empresas, en el que deben inscribirse todos los planes de igualdad implantados en las Empresas, con independencia del número de trabajadores que tengan.

              Por otro lado, el RDL 6/2019 da una nueva redacción al artículo 28 del Estatuto de los Trabajadores, que recoge la obligación de la Empresa de cumplir con la exigencia de igualdad de salario entre hombres y mujeres, estableciendo una serie de medidas y obligaciones a cargo de las Empresas, al objeto de procurar el efectivo cumplimiento de la igualdad salarial.

              En concreto, estas nuevas medidas adoptadas en el artículo 28 del ET son las siguientes:

              • Se especifica lo que ha de ser considerado como “trabajo de igual valor”, a fin de facilitar un único concepto y eliminar cualquier duda al respecto.
              • Las Empresas tienen la obligación de llevar un Registro Salarial, con los valores medios de los salarios, los complementos salariales y las percepciones extrasalariales de su plantilla, diferenciados por sexo y distribuidos por grupos profesionales, categorías profesionales o puestos de trabajo iguales o de igual valor.
              • El Registro Salarial deberá ser accesible a la representación legal de los trabajadores.
              • En las empresas con 50 o más trabajadores en las que el promedio de las retribuciones a los trabajadores de un sexo sea superior a los del otro en un 25% o más, deberá incluirse en el Registro Salarial una justificación de dicha diferencia, debiendo acreditar que la misma se debe a motivos ajenos al sexo de los trabajadores.

              El incumplimiento, por parte de las Empresas, de las obligaciones en materia de Igualdad y, en concreto, aquéllas relativas al Plan de Igualdad e Igualdad salarial entre hombres y mujeres, podrán comportar la imposición de importantes sanciones por parte de la Inspección de Trabajo y la TGSS.

              La Ley española del Contrato de Agencia y la Directiva europea prevén para el agente — salvo en ciertos casos —, una indemnización por clientela cuando la relación se termina, en función de la retribución percibida por el Agente durante la vida del contrato. Es, pues, una carga que en general todo empresario tendrá pendiente al terminar el contrato.

              La tentación es intentar librarse de su pago y para ello nos consultan con frecuencia acerca de estrategias o tácticas. A continuación intento resumir algunos de ellos indicando las posibilidades de éxito (o no) que pueden tener, tanto en la fase de negociación/redacción del contrato, como en la fase de resolución.

              1. Cambiar el nombre del contrato

              La primera idea es hacer un contrato “parecido” al de agencia o llamarlo de otra forma (de servicios, de intermediación, de representación…). Ahora bien, el cambio de nombre no tiene ninguna incidencia ya que los contratos “son lo que son” y no lo que las partes los llaman. Así que si hay una intermediación continuada a cambio de una remuneración, hay muchas posibilidades de que un juez lo considere como contrato de agencia, lo llamemos como lo llamemos. Y ello con todas sus consecuencias.

              1. Limitar la indemnización en el contrato

              Otra tentación en la fase de redacción del contrato es acordar una indemnización menor que el máximo previsto legalmente, prever su pago por adelantado mientras dura el contrato, o directamente eliminarla.

              Ninguna de estas soluciones sería válida si intentan disminuir la posibilidad de que el Agente perciba el máximo legal, o por motivos no previstos en la Ley ni la Directiva. La ley manda.

              1. Encadenar varios contratos de agencia

              Dado que la indemnización se calcula según las remuneraciones de los últimos cinco años y de la clientela creada, la tentación es encadenar varios contratos de menor duración para considerar solo los clientes del último período.

              Esto no necesariamente será una buena idea si el último año, por ejemplo, se crearon muchos clientes, pero, además puede resultar inútil porque la ley española y la Directiva prevén que el contrato de duración determinada que continúa ejecutándose se transforma en indefinido. El juez podrá considerar todos los contratos encadenados como uno único.

              Para que esta estrategia tenga posibilidad de ser útil, habría que liquidar cada contrato sustituido, declarar que “nada tienen que reclamarse las partes” y que los sucesivos contratos estén suficientemente separados y tengan diferente entidad, redacción, extensión, etc. Si se plantea bien, podría ser una vía para liberarse de una mayor indemnización por clientela: un pacto bien redactado por el que el agente declara recibida la indemnización, y que el siguiente contrato no reitere miméticamente y de forma inmediata el contenido del anterior.

              1. Someter el contrato a un derecho extranjero

              En contratos internacionales la tentación es someter el contrato a un derecho que no sea el español, en particular, cuando el Principal es de dicha nacionalidad.

              La idea puede ser buena o mala según el derecho elegido y siempre que guarde alguna relación con el negocio. Como se sabe, en la UE la Directiva establece unas condiciones mínimas que las legislaciones nacionales deben respetar. Pero nada impide a estas leyes prever condiciones más ventajosas para los agentes. Esto hace que, por ejemplo, elegir el derecho francés sería, en general, una idea mala para el Principal porque la indemnización en ese país suele ser mayor.

              En algunos casos, la elección de un derecho de fuera de la Unión Europea que no prevea la indemnización por clientela cuando el agente es europeo ha sido rechazada por considerar que se está vulnerando el derecho mínimo reconocido en la Directiva.

              1. Someter el contrato a reglas y jueces no nacionales

              Otra posibilidad menos frecuente es la de someter el contrato a normas no de un país, sino a normas mercantiles generales (Lex Mercatoria) y acordar una indemnización menor.

              Esto no es muy frecuente, y puede no resultar muy útil según quien haya de interpretar el contrato y dónde resida el agente. Si, por ejemplo, el agente reside en España y quien va a interpretar el contrato es un juez español, con mucha probabilidad va a interpretar el contrato según sus propias normas sin verse vinculado por lo que prevea el contrato. De nada habrá servido.

              1. Someter el contrato a arbitraje

              Diferente será la cuestión si el contrato está sometido a arbitraje. En este caso los árbitros, normalmente, no están sometidos necesariamente a interpretar un contrato según las normas nacionales propias si el contrato está sometido a otras diferentes. En este caso sí que cabría la posibilidad de que se sintieran más libres de considerar exclusivamente el contrato, sobre todo cuando el agente no fuera de su nacionalidad, desconociera cuál es el derecho del país del agente y no se viera vinculado por las garantías previstas para su protección.

              1. La mediación en el contrato de agencia

              La mediación es una forma alternativa de solucionar un conflicto que puede usarse también en contratos de agencia. Con ella son las partes, ayudadas por el mediador, quienes resolverían la controversia.

              En este caso, dado que el mediador no es quien decide, es posible que las partes lleguen libremente a un acuerdo por el que el agente se conforme con una indemnización menor si, por ejemplo, se le confieren otras ventajas, reconocimientos, si llega al convencimiento de tener menor derecho, dificultad de prueba, si prefiere ahorrarse otros costes, tiempo, energías para su nuevo negocio, etc.

              Los mediadores velan por el equilibrio de las partes, pero nada impide que ambas concluyan una indemnización menor al máximo legal (tras la conclusión del contrato es posible negociar una inferior a la legal). Prever la mediación en el contrato de agencia, es, por lo tanto, una buena idea para poder abordar y negociar mejor esta indemnización por clientela. Además, prever la mediación no limita los derechos de ninguna de las partes para retirarse y proseguir por la vía judicial exigiendo el máximo legal.

              1. Imputar al agente un incumplimiento previo

              Cuando el contrato termina, esta es, sin duda, la causa que se intenta con más frecuencia: cuando se quiere resolver el contrato, el Principal intenta argumentar que el Agente lo ha incumplido previamente y que por eso se está resolviendo el contrato.

              La ley y la Directiva exceptúan el pago de la indemnización cuando el agente ha incumplido antes. Pero en ese caso, el Principal deberá poder demostrarlo cuando el agente lo discuta. Y no siempre será fácil. El Principal ha de aportar pruebas claras y para ello será conveniente recoger información y documentación sobre el incumplimiento con la suficiente y antelación y de importancia suficiente (no suelen aceptarse incumplimientos menores). Por lo tanto, si el Principal desea seguir este camino, es recomendable preparar los argumentos y las pruebas antes de que finalice el contrato. Es muy recomendable, por tanto, ponerse en contacto con un asesor experto cuanto antes: él lo ayudará a minimizar los riesgos.

              The procedure to incorporate a foreign owned company in Spain is, in principle, easy and straight forward, however it is necessary to take into account certain new requirements derived from the tax and the anti-money laundering regulations, which could cause long delays in the incorporation process, even to EU and US companies, if they are not well advised and managed from the beginning of the procedure.

              The first step consist in collecting information about the foreign shareholder, in order to be able to prove its legal existence and activities: the foreign shareholder(s) will have to grant before a Notary Public in its country of residence a power of attorney authorising somebody in Spain to obtain its tax identification number (“NIE”), and also represent it before the Spanish notary when signing the deed of incorporation. In case the foreign shareholder is an individual person, the NIE should be applied for before the Spanish police or the Spanish Consulate at the country where the investor lives.

              If the shareholder is a corporation, apart from the Power of Attorney, it will have to obtain a certificate from its Companies’ Registry or Chamber of Commerce, stating its legal existence and main characteristics. This document is called “good standing certificate” (in the UK and US), “K-bis” (in France), “KvK” (in the Netherlands) or “visura” (in Italy). These two documents, the Power of Attorney mentioned in the above paragraph and the certificate from the Companies’ Registry, will have to be Apostilled or legalized by the correspondent Ministry, and Sworn translated into Spanish. Please note that we use to draft bilingual powers of attorney in order to avoid its sworn translation.

              The foreign shareholder will have to prove that its income is obtained from legal activities in order to be able to open a bank account in the name of the new company. The main document to prove this could be the Corporate or the Personal Income Tax return filed in its country of residence, but there could be other means, especially in case of individual persons.

              In case of a corporate shareholder, it will be necessary as well to declare, in principle through a public deed granted in Spain, who are the individual persons who, directly or through other companies, will hold more than a 25% interest in the new company to be incorporated. In case nobody holds more than a 25% (i.e. because there are 5 individual shareholders, holding each of them a 20%), it is declared that the effective control of the new company corresponds to its director.

              At this stage, it is also necessary to mention that the person(s) who will be the director(s) of the new company, in case they are foreigners, will also need to obtain their personal “NIE”. The NIE should be applied for before the Spanish police (this could be done by a proxy duly authorised though a Power of Attorney granted by the foreign director) or before the Spanish Consulate nearest to the city where the investor lives. In order to be a director of a Spanish company it is not necessary to be a shareholder, nor to have residence and work permit in Spain (provided the foreign director does not live in Spain).

              Meanwhile the necessary documents (Powers of Attorney, Companies’ Registry certificate, etc.) are being prepared by the foreign shareholder, the lawyer in Spain will apply for the new company’s name. It is advisable to point out that generic or usual names are not available quite often, therefore it is necessary to think in original names. Three different names could be applied for simultaneously.

              The drafting of the company’s Articles of Association or By Laws could be very quick, except if the company is going to have several shareholders and they wish specific clauses. In this case, it is also advisable to draft a Shareholders Agreement. The Shareholders’ Agreement could just contain some basic rules on dedication, compensation, non-competition, etc. and some more sophisticated rules on the sale of shares (tag along and drag along rights). As regards the By-Laws, they should mention the company’s name, its activity or activities, address in Spain –which cannot be just a P.O. Box-, share capital, number of shares and its face value, and starting date for the fiscal year, among other standard clauses.

              The management of the company could be organized through a sole director, two directors who could act jointly or separately, and in case there are more than three directors, they should organize themselves through a Board of Directors, being usual in this case to appoint a C.E.O. In order to be a director it is not necessary to be a shareholder. Under Spanish laws, the director(s) could be held liable for some company’s debts under certain circumstances which are legally defined. For this reason, it is necessary that the directors formally accept their appointment (personally appearing before the Notary or through a Power of Attorney).

              Before the incorporation, it will be necessary that either the new company’s director (the person to be appointed) or the representative of the corporate shareholder appears personally before the bank where the company will have its first bank account and signs the correspondent documents (KYC regulation). Once the bank account is opened, the shareholder will have to send a bank transfer for the new company’s share capital. In Spain, the minimum share capital for a limited company (S.L.) is Euros 3.000, while for a “Sociedad Anónima” (S.A.) it is Euros 60.000, but only 25% should be paid off at the incorporation moment. It is interesting to note that contributions to the share capital could be made in cash – which is the most common operation, especially at the incorporation – or in kind, with any type of assets: real estate, machinery, goods, trademarks, etc. The money for the share capital should be sent to the new company’s bank account from an account owned by the shareholder (or from each account owned by each shareholder, should they be several ones), not by any other different person. Once the Spanish bank receives the transfer, it will issue a certificate, which is necessary in order to incorporate the company.

              Once all the documents are ready, it is possible within very few days (almost immediately) to make the appointment with the Notary and sign the public deed of incorporation. This can be done at any notary in Spain, not being necessary that the notary practises at the same city where the company will have its corporate address. In order to summarize, the list of the necessary documents is:

              • Power(s) of Attorney granted by the foreign shareholder(s), apostilled and sworn translated.
              • Certificate regarding the legal existence of the foreign shareholder (only if it is a corporation), apostilled and sworn translated.
              • Statement on who are the last individual shareholders holding more than 25% interest in the new company, directly or indirectly (only in case of corporate shareholders).
              • NIE of the foreign shareholder(s).
              • NIE of the new company’s director(s), should they be a foreigners.
              • Certificate for the new company’s name.
              • Articles of Association.
              • Bank certificate regarding the contribution to the new company’s share capital.

              The deed of incorporation is signed by the proxy (or the individual shareholder(s), should they prefer to personally appear before the notary) before the chosen public notary, being also necessary to sign an official form to report the foreign investment to a public registry depending on the Spanish Ministry of Finance.

              Once the deed of incorporation is signed, the next steps consist in applying before the tax authorities to obtain the new company’s tax number (NIF / CIF) and filing the deed of incorporation before the Companies’ Registry. Some banks do allow new companies to operate once they have the NIF (which could be 2-3 days after the incorporation), while others request to wait until the deed of incorporation is filed at the Companies’ Registry (2-3 weeks).

              An estimation of the necessary time to complete all the procedure is 30-45 days, but of course the main delay is related to speed of the foreign investor in obtaining the necessary documents.

              Please note that if you wish to incorporate a foreign owned company in Spain it is always necessary to seek specific professional advice, as each case is different and regulations and the application of such regulations vary from time to time. The above article just explains the main steps and requirements for the incorporation of a company.

              Arbitration is a well-known system for dispute resolutions, and works as an alternative to judicial procedures. Parties are free to choose this system and to submit their conflicts to specific arbitrators or institutions.

              It is usually considered that arbitration is a good way to solve conflicts but preferable to those arisen between big corporations or involving important amounts of money. Although this assumption is generally accepted, there is an alternative for distribution disputes suitable for smaller companies and cases with lower amounts claimed.

              And here is the essential question: why a manufacturer/franchisor or a distributor/agent/franchisee should choose a specialized arbitration for their agreements instead of a more general one or, even, a judicial procedure? The answer seems clear: an arbitrator with knowledge not only in procedural questions but in substantive matters will be able to better understand the conflict between the parties and, therefore, to grant a better award. Take into account that, for instance in my Country, Spain, a Judge of First instance can deal in the same day with a distribution contract, a construction case, a conflict between heirs, and a discussion in a community of owners. All of this requires the analysis of different facts and completely different legislations and it is true that specific commercial problems do not usually have judges experts in international trading. But, how to choose a good specialized arbitrator? And, how to choose the arbitral procedure and the institution in terms of organization, neutrality, costs and time?

              The IDArb was created in 2016 by the International Distribution Institute (www.idiproject.com) in collaboration with the Chambre de Commerce d’Industries et de Services de Genève (CCIG www.ccig.ch) and the Swiss Chambers’ Arbitration Institution (SCAI www.swissarbitration.org) and offers to the distribution sector (distribution, agency, franchising, selective distribution) a specialized, expedited and affordable arbitration procedure, not only for big international corporations but also for smaller cases. In fact, the expedited procedure is particularly foreseen for amounts below one million CHF (approx. 880.000 €).

              The objectives and main characteristics of IDArb which make it suitable for all the distribution disputes are:

              1. A list of specialized arbitrators experts in this particular field is available for ad hoc or institutional arbitration and IDArb is able to assist the parties to choose one of them.

              Specialized arbitrators from different countries and legal cultures have been appointed by a Selecting Committee reviewing their experience in one or more fields of distribution law. Therefore, parties can trust that the arbitrator will have concrete skills in the business with an in-depth understanding of the disputed issues. This is not a general knowledge on commercial law, but a concrete one on distribution, expressly verified by the Committee. Parties can even examine some examples of cases in which every arbitrator has been involved in.

              1. In order to maintain its high quality, the IDArb organizes training seminars for its appointed arbitrators. In these seminars, they are able to discuss about the general management of the arbitration, the procedural aspects and how to solve possible incidents in collaboration with the Institutions and their Rules. This will make all the proceedings more manageable and the possible difficulties more easily solved. Last seminar took place in Geneva in November 8, 2018 and participants have discussed, amongst other subjects, on evidences, witnesses and document production.
              2. The expedited arbitration procedure permits the parties to have a tailored procedure managed by SCAI under the Swiss Rules of International Arbitration, specially adapted for small disputes in the field of distribution.
              3. Time is also an essential element: the award in the expedited procedure will be issued in a maximum term of six months (only exceptional circumstances permit the Court to extend such time-limit), and, if parties agree, it can be decided only on documentary evidence.
              4. Costs are reasonable and known in advance.
              5. And, as final but important remark, IDArb has also adopted some recommendations where, upon request of the parties, mediation is favoured, the arbitrator my consider giving a preliminary non-binding and provisional assessment of the dispute and should have a pro-active position in order to facilitate an amicable settlement.

              Spanish Law on Entrepreneurship (Law 14/2013) has approved new cases where foreigners from non-European Union countries can obtain the residence permit in Spain through the execution of investments:

              1. Investments in real estate for an amount equal or higher than € 500.000 (Five Hundred Thousand Euros). The investment can be made in one or more properties, but at least € 500.000 should be free of encumbrances (mortgage, i.e.). If the price is higher than € 500.000, the rest of the amount could be paid through mortgage.
              2. Financial investments for a value equal or higher than 1 million Euros. This type of investment includes listed and non-listed shares, in case of non-listed shares they could be from already operating companies or newly incorporated ones, investment funds, and deposits in Spanish banks.
              3. Investment in Spanish sovereign debt for an amount equal or higher than 2 million Euros.
              4. To carry on a business project in Spain that was considered as being of public interest. To this purpose, one of these conditions should be met: creation of jobs, execution of an investment that has a positive impact in the region where it is located, or a relevant contribution to scientific or technological innovation.

              The visa granted through the execution of these investments is valid during at least one year, and in order to obtain the residence permit some other requirements should be met:

              • to not stay previously in Spain in an illegal situation,
              • to have more than 18 years,
              • to not have criminal records,
              • to have a health insurance (hired from a company operating in Spain)
              • to have financial means for the stay in Spain (i.e. a bank deposit, or income from leases or dividends. Payroll does not qualify for this purpose).

              If the above requirements are met, a two years residence and work permit could be granted. After this term, the residence permit can be extended for successive five years periods. The investments should be kept during all these periods. This permit does not request the foreigner to live in Spain for more than six months; therefore it will not be cancelled if the foreigner lives in another country.

              The residence and work permit is granted to the individual who executes the investment. If he/she is married and/or has children or ancestors who depend on the investor, it is possible to apply for their visa at the same time or later on. It is possible to execute the investment through a company owned by the investor, provided it is not a company domiciled in a tax heaven country.

              The Spanish visa allows free movements within the EU countries (Schengen space). The valid travelling document is the passport.

              Foreigners who wish to carry on a self-employment project in Spain could obtain the work and residence permit, but through a different procedure than the above mentioned, and these cases the minimum investment amount is lower.

              Investment in real estate

              The investment in real estate could be in residential, commercial or industrial properties. The property could be leased to third parties before or after the acquisition, or used by the investor. For ambitious investors, there are several possibilities to structure the investment in buildings and apartments and to a higher return of the investment.

              There are some costs related to the acquisition of real estate: the acquisition itself is taxed by Transfer Tax at rates ranging from 6 to 10% on the acquisition price, depending on each Spanish region where the property is located, to be paid by the buyer. Besides, the buyer should pay the Notary Public and Property Registrar’s fees, which approximately amount 3% of the acquisition price (the addition of both of them). These amounts are paid once, when the property is acquired.

              The annual costs related to the ownership of real estate in Spain are the following ones:

              • IBI or local property tax, whose amount is calculated based on the value and location of the property.
              • “Community expenses”, that is those expenses related to the maintenance of the common areas of the building where the property is located: cleaning, lighting, etc.
              • In some cases, also a small tax for garbage should be paid to the Town Council.
              • Owners should file the Spanish Personal Income Tax Return, and pay a percentage between 1,1% and 2% of the property’s “cadastral value” (official value), in case the property is not leased to a third party. If the property is leased, the owner should also file the Personal Income Tax Return based on the amounts obtained from the lease.

              Besides, owners should also pay the expenses related to their property: ordinary maintenance expenses, insurance, electricity and water, etc.

              In Spain, the property right is considered as a full right, which implies that the owner can use the property by himself, can lease it to third parties, can mortgage or encumber it, can sell or gift it to any third party and can pass it to his heirs through a will.

              The only limits to the use of the property by its owner or the persons appointed by him are those established by the civic rules regarding noises, pets, exterior image of the property, etc.

              Regarding the lease of the property, in principle it is free, and the rights and obligations of landlord and tenant are those provided by the private lease agreement entered between both parties and the Spanish Urban Leases Law (Ley de Arrendamientos Urbanos). However, nowadays many Spanish cities (and specially Barcelona) have approved strong limits to the so called touristic leases, which are the short term (days or weeks) leases, and request a special license.

              It is important to point out that foreigners who become residents in Spain can grant their will according to Spanish inheritance laws (according to EU Regulation 650/2012), which slightly vary depending on each Spanish region. In Catalonia, for example, the testator can freely appoint who will be his heirs.

              Financial investment

              Financial investments can be executed through different types of targets, being always the minimum amount 1 million Euros:

              • Shares of companies listed in the Spanish Stock Market.
              • Shares of non-listed companies, which could be already operating companies or newly incorporated ones. In both cases, there are no limits as regards the percentage of shares that can be owned by foreigners, and the activity sectors restricted to non EU foreign investment are very few (gambling, defense, aviation, TV and radio). Foreigners can be appointed Directors of Spanish companies with the only requirement of having previously obtained the so called “N.I.E.”, which is the Spanish identification number for foreigners.

              In case of a newly incorporated company, the € 1 million requested as investment would constitute the company’s share capital, and can be used for the startup of the company’s activities: for example, acquisition of goods, payment of salaries and rentals, payment of purveyors and subcontractors, etc.

              Spanish companies have access to all European markets and have a privileged position for trading with Latin American countries.

              • Investment funds: Spanish financial entities offer a very wide range of investment funds, from very conservative to high risk.

              Deposit in a bank

              The main advantage of a real estate investment compared to a financial investment is that the requested amount is only € 500.000 for real estate, while for a financial investment is twice this amount. During the past years since the Law on Entrepreneurship became in force, investment in real estate has been the most popular way for obtaining the residence permit in Spain, probably because at that time (2013-2016) real estate market prices were quite low due to the crash in 2008.

              However, the process to acquire a property in Spain is not so easy compared to the acquisition of a share in an investment fund or making a bank deposit: the investor has to choose the property, which normally requires one or two visits to Spain, the price and sale conditions have to negotiated and drafted, the purchase deed has to be signed before a Notary Public (by the investor or his proxy), there are taxes and expenses related to the acquisition, and once the property is acquired, it is necessary to pay ongoing expenses and taxes, and maintain the property in good condition.

              Compared to this, the investment in funds or making a bank deposit only requires one visit to the bank by the investor, in order to sign the correspondent documents.  There are not related taxes or expenses, and the liquidity of the investment is  full  (that is,  the investment can be sold at any moment,  quite probably at the same or  at a higher price, but this is not guaranteed for real estate investments).

              How to open and operate a bank account in Spain

              In Spain, banks apply the regulations regarding anti-money laundering, which include the KYC (Know Your Client) rules and the obligation to prove the legal origin of the funds. The KYC rules imply the need for the investor to appear personally before the bank at least once, previously to operating the bank account. The legal origin of the funds can be proved through different means:

              • In case of employees, through the payroll splits, or a certificate issued by the employer, or the investor’s personal income tax return.
              • In case of self-employed individuals, through their personal income tax return, or another type of documents proving their professional activity.
              • In case of company owners, through the company’s financial statements.
              • If the investor has obtained the funds necessary for the investment through personal loans, the loan agreements should be provided, plus the documents proving the legal origin of the funds provided by the lenders.
              • Other documents, for example, regarding dividends or income from the lease of properties owned by the investor could be provided.

              All documents should be legalized by a Notary Public or the Spanish Consulate, and sworn translated into Spanish.

              Please note that this article is aimed to provide a general overview on Spanish rules regarding the above matters, but it does not constitute any kind of comprehensive information on them, and in any case specific legal advice should be sought prior to taking any decision.

              En todas las operaciones de M&A una de las cuestiones que merece un capítulo especial en cuanto a su análisis, determinación y negociación son las contingencias fiscales. Aunque las partes puedan estar más o menos de acuerdo en el importe de dichas contingencias, negociar las posibles garantías que ha de otorgar el vendedor a fin de proteger al comprador de una posible reclamación por parte de las autoridades fiscales, el plazo de duración de las mismas, así como acordar los mecanismos de comunicación entre las partes (comprador y vendedor) y de defensa legal en caso de que se produzca tal reclamación, requiere ingentes esfuerzos negociadores.

              Cuando la operación de adquisición no se formaliza mediante la compra de las acciones o participaciones sociales de la sociedad que es objeto de adquisición (“shares deal”), sino mediante de la compra de los activos que forman una unidad productiva (“assets deal”), la Ley General Tributaria (LGT) española establece un mecanismo que supone una excepción al principio, establecido por el artículo 42 de la misma Ley, consistente en establecer la responsabilidad solidaria del adquirente de una unidad productiva por las deudas tributarias contraídas por el anterior titular (“responsabilidad por sucesión de empresa”). Esto es, en principio, de acuerdo con el artículo 42 de la LGT, “serán responsables solidarios de la deuda tributaria las personas o entidades que sucedan por cualquier concepto en la titularidad o ejercicio de explotaciones o actividades económicas, por las obligaciones tributarias contraídas del anterior titular y derivadas de su ejercicio”.

              Sin embargo, esta responsabilidad solidaria del adquirente se puede limitar mediante la solicitud a las autoridades fiscales del certificado que regula el artículo 175.2 de la LGT. El certificado debe solicitarlo el que pretende adquirir la titularidad de una explotación económica, de conformidad con el titular actual, y la responsabilidad del adquirente queda limitada a las deudas, sanciones y responsabilidades mencionadas en la certificación. Si la certificación se expide sin mencionar importe alguno, o bien la Administración no la expide en el plazo de tres meses desde la solicitud, el solicitante quedará exento de la responsabilidad fiscal solidaria por sucesión de empresa.

              La certificación del artículo 175.2 de la LGT puede incluir las deudas por retenciones a cuenta del IRPF, las cuales en el caso de empresas con una gran número de trabajadores pueden ser de un importe elevado, sin embargo la responsabilidad solidaria del adquirente por sueldos, salarios y cuotas de seguridad social no puede limitarse mediante la solicitud de este certificado, sino que siempre sería solidaria con el transmitente de la unidad de negocio.

              La solicitud del certificado debe realizarse antes de formalizar la adquisición de la unidad productiva, aunque su emisión tenga lugar después de dicha adquisición (por supuesto, la posición prudente es no cerrar la adquisición hasta no disponer del certificado). La duración de este certificado es de un año, para el caso de obligaciones fiscales periódicas (por ejemplo, Impuesto sobre el Valor Añadido, Impuesto de Sociedades, retenciones a cuenta de Impuesto sobre la Renta de las Personas Físicas), y de tres meses para el caso de obligaciones fiscales no periódicas.

              Es muy importante solicitar el certificado correcto (“a efectos de sucesión de empresa de acuerdo con lo establecido en el art. 175.2 de la LGT”), y no confundirlo por ejemplo con el certificado referente a estar al corriente de las obligaciones tributarias, pues abundan en la jurisprudencia los casos de adquirentes de empresas que, habiendo solicitado un certificado erróneo a las autoridades fiscales y habiendo obtenido un certificado que no mostraba responsabilidades fiscales, posteriormente han sido condenados a pagar, en calidad de responsables solidarios, las deudas fiscales de la empresa transmitente.

              The remuneration of directors is an intricate issue and one that deserves adequate treatment. Recently there has been a turn that deserves special attention.

              In its judgment of February 26, 2018, the Supreme Court modified the interpretation given by most experts and authorities and by the Directorate-General of Registries and the Notarial Profession in its decision dated June 17, 2016, ratified by the Barcelona Provincial Appellate Court in its decision 295/2017 of June 30, 2017, on the regulation of executive directors’ compensation.

              In its judgment, the Supreme Court held that the compensation of directors “in their capacity as such” includes the compensation of both deliberative and executive functions and that, accordingly, approval of the compensation of directors who discharge executive functions is subject not only to article 249 of the Corporate Enterprises Law (i.e., the requirement for there to be a contract approved by a two-thirds majority of the board) but also to article 217. Consequently:

              1. the bylaws must stipulate the compensation scheme for executive functions (although no reference is made to amount); and
              2. the amount payable for the discharge of executive functions must be included in the maximum annual amount stipulated by the shareholders’ meeting.

              The judgment was handed down in connection with a limited liability company and, furthermore, some of its considerations refer specifically to unlisted companies, although it does not clearly and indubitably exclude listed companies (which are, however, subject to specific rules under the compensation policy).

              The publication of this Supreme Court judgment gives rise to the need for an individualized analysis of each specific case, so that the appropriate measures can be taken to enable companies to bring their policies into line with its conclusions.

              The author of this post is Pablo Vinageras.

              Una vez convencidos de la utilidad de la mediación como método de solucionar conflictos entre franquiciador y franquiciado y tomada la decisión de incluir en los contratos una cláusula que la prevea, el último paso sería qué elementos debemos tener en cuenta a la hora de redactarla.

              1. La negociación previa. Parece recomendable que ambas partes se concedan la posibilidad de intentar resolver el problema con una negociación formal previa. La mediación no excluye el intento previo llevado a cabo por los interesados o sus abogados, no obstante, parece recomendable que se prevea contractualmente un plazo adecuado a las circunstancias. La experiencia demuestra que alargar demasiado esta fase puede producir como resultado que el conflicto se vaya agravando y resulte más complicado incluso acercarse a la mediación.
              2. La cláusula puede igualmente prever el lugar en el que la mediación se llevará a cabo. De nuevo en este punto las partes son libres. Es conveniente que éste sea preciso indicando la ciudad.
              3. El idioma en el que va a desarrollarse la mediación es facultad de las partes. No habrá dificultad en mediaciones en las que ambas partes usen el mismo idioma, pero es muy conveniente en contratos con partes que los tengan diferentes, o que pertenezcan a regiones o países con diferentes lenguas cooficiales. La redacción o firma del contrato en un idioma concreto no presupone que ese haya de ser el idioma de la mediación. Es un elemento a tener muy en cuenta también a la hora de solicitar un mediador que pueda usar dicho idioma en la institución de mediación elegida.
              4. El procedimiento puede decidirse igualmente por las partes. En particular, el número de sesiones, la duración máxima prevista, la participación de asesores, etc. Téngase en cuenta que la mayor o menor regulación permitirá evitar futuros conflictos al respecto, aunque también supondrá enmarcar más la libertad de las partes que, no obstante, permanecerán libres para modificar de común acuerdo lo pactado.
              5. El plazo de duración de la mediación puede igualmente contemplarse. Ello permitiría, por ejemplo, evitar que la mediación se alargue únicamente con fines estratégicos meramente procesales o para recabar información de la otra parte antes de iniciar un procedimiento, etc. Los mediadores profesionales, no obstante, son capaces de identificar estas maniobras teniendo la facultad también de poner ellos mismos fin a la mediación en caso de constatarlas.
              6. Elegir al mediador o a la institución de mediación es una elección importante. Las partes pueden ponerse de acuerdo sobre quién será su mediador, indicar en el contrato los elementos para elegirlo, o someterse directamente a una Institución de Mediación para que sea ésta quien lo designe conforme a sus propias reglas. Estas decisiones pueden ser alternativas (es decir, que las partes se pongan de acuerdo sobre el mediador y, en caso de falta de acuerdo, someterse a una institución que lo nombre), o pueden ser únicas. La designación de una Institución requiere que tenga la suficiente garantía de estabilidad (evitar designar instituciones de corta trayectoria o sin demasiada garantía de futuro), con un panel suficiente de mediadores en función de las características de la mediación (idioma, competencia, experiencia) y que permita la flexibilidad necesaria para su funcionamiento.
              7. Por último, es conveniente que la cláusula incluya una vía alternativa en caso de que la mediación no llegue a buen puerto bien porque las partes no llegan a un acuerdo, bien porque se retiran de la mediación. Recordemos que la mediación no cierra las puertas a que el conflicto sea resuelto mediante el recurso a la jurisdicción ordinaria o al arbitraje. Y en materia de arbitraje especializado en contratos de distribución el IDArb (https://www.idiproject.com/content/idarb-idi-arbitration-project) es una excelente opción.