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29/09/2022

NEW LAW ON THE SET UP AND GROWTH OF COMPANIES IN SPAIN

New Law 18/2022, of September 28, on the set up and growth of companies, includes very diverse modifications of current legislation:

- Limited Liability Companys can be set up with minimum capital of only 1 euro, with certain reserves until it reaches 3,000 euros.

- A new way to facilitate the quick set up of commercial companies, through standard statutes or even with other statutes.

- Amendment of the legal statute of individual entrepeneurs with limited liability.

- Registration with the Mercantile Registry of civil companies is contemplated.

- The regulation of collective investment companies and credit entities is amended.

- The regulation of the payment obligations of the contractor with the Administration with respect to its subcontractors is modified.

- The regulation of the protection of the market unity and the judicial process for it are modified, granting a public action (anyone can claim) in that matter.

- Companies are required to report certain data on payment to suppliers in their annual accounts and websites.

 BOE-A-2022-15818.pdf


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